Page 13 - Bullion World Issue 10 February 2022_Neat

Bullion World | Issue 10 | February 2022

since then. And we all know how Valcambi is a leader is minted developments in India? What
complex the ASM sector is. Why products. What are the new new opportunities do you see for
do we make this commitment? The trends you are observing in the Valcambi in these developments?
answer is simple. minted gold products markets? Her excellency the minister
Especially, what are the new described this move as having
An estimated 15 million people rely initiatives industry is taking many advantages. II will lead to
directly on Artisanal and Small- up to fight against counterfeit better price discovery in gold, it will
scale Gold Mining (ASGM) for their products? generate more jobs, and enhance
livelihoods, and the sector indirectly We have seen a continuous India’s position in such markets.
touches the lives of an estimated increasing demand for minted
25 million more people. While products. In 2020 we produced I would agree with those broad
ASMs produce 20% of the world’s twice the number of pieces benefits. The Government
gold output, a staggering 90% of compared to the previous year. This legislative body has to establish
employment in the gold mining amazing result has been further now the necessary and adequate
industry is in the artisanal and surpassed in 2021 by 40% versus legal environment in such way
small-scale sector. This means the 2020. Gold minted bars are still the that it will allow India to become
impact of the sector on livelihoods best-selling products, but we have connected to the international
and communities is enormous. We seen a huge increase also for silver, markets.
must ensure those impacts are all platinum, and palladium.
positive. The planed steps will eventually
In 2019, Valcambi introduced an allow India to get closer and
Valcambi wants to make humane, Anti-Counterfeiting System (ACS) finally be integrated into the
well-run, and flourishing ASMs adopted by Valcambi for all its international gold markets which
a key part of its value chain, kilo bars. ACS is based on the should consequently increase
and to play a significant role in creation of the ‘fingerprint’ of a manyfold the transaction volume
ensuring the highest standards for gold bar’s natural imperfections in the domestic market. This new
ASMs within the precious metals present on its surface. ACS fair, transparent and efficient
industry. enables future recipients and bullion trading Eco system will
owners of the bars to check this support small players, importers
We currently source from fingerprint to authenticate the kg and exporters that will greatly
various ASM mines in Peru and bar. For Valcambi the key factor benefit from it. Well organized and
Colombia, and would like to do is to have a solution that relies on functioning markets will also attract
so much more. We hope more the physical bar features, avoiding foreign traders and investors.
mines will come online in the where possible to rely on other
near future through a number of elements, such as tags, stickers, How in detail Valcambi could
programmes we are supporting. inks, certificates or other elements benefit from it is not yet clear
One of them is the Responsible that can be lost or removed during because there are still many parts
Peruvian Gold programme funded the product life. It is not that easy not finalized yet. To be able to run
by the European Partnership for a way to go, but maybe it is also a refinery in GIFT City SEZ would
Responsible Minerals (EPRM) the reason why, at the moment, it open many new interesting doors
in partnership with Fairtrade, seems that all the other solutions for a foreign refinery.
FairCapital and Fairphone that is on the market include additional
supporting 10 mine operators to elements other than just the bar I congratulate for this innovative
become Fairtrade certified as a itself. step forward that I hope will
collective. increase transparency, liquidity and
Switching to India now. India help create new business.
For the miners that enrol on some has created India International
of the Fairtrade, Fairmined, SBGA Bullion Exchange inside GIFT How do you see the role of gold
or other programmes, it allows City, Gujarat, the first SEZ for going forward in a world which
them to improve their working financial services in India. has seen huge following for new
conditions, to become part of a GIFT City also plans to have a assets such as cryptos? What
formal and global value chain and world class refinery inside the can gold industry learn and adapt
get a fair price for their gold. free zone. How do see the new from these new developments?

13