Page 22 - Bullion World Volume 02 Issue 11 November 2022_Neat

Bullion World | Volume 2 | Issue 11 | November 2022

which comprised of leading ASM these processors and intermediate appraisal of the significant barriers
practitioners and GDL refiners. The refiners, which would ideally include that perpetuate the sector’s
members provided generous and joint efforts to raise standards among marginalisation – including those
constructive feedback on the first ASM suppliers. created by its own Responsible Gold
draft of the report. Guidance
Key Recommendation 4: LBMA
LBMA would like to thank them for should encourage GDL refiners to In response to the key
their insights, as well as our industry explore sourcing ASM gold from recommendations made in the
partners – most especially from intermediate refiners on the RMI’s report, the Board accepts them
within the Responsible Minerals RMAP conformance list. and has developed a high-level
Initiative (RMI) and 2 World Gold delivery plan to act upon them.
Council (WGC) – who shared their Key Recommendation 5: LBMA The overall recommendations
experiences and lessons learned and its members, in conjunction strongly correspond to the strategic
from their engagements with the with other stakeholders where ambitions of LBMA to incorporate
ASM sector. Finally, we would like appropriate, should define the responsible ASM gold into the
to thank the independent report criteria and requirements that would feedstock of its Good Delivery List
authors, Gregory Mthembu-Salter enable GDL refiners to source (GDL) refiners.
and Dr Tom Salter, for the thought artisanal gold from processors and
and dedication they brought to intermediate refiners. These criteria In endorsing the conclusions and
this project, through research and should be consistent with the RMI’s recommendations of the report,
interviews. RMAP auditing requirements. Those LBMA does not seek to solve all the
that meet these requirements problems faced by the ASM sector –
Key Recommendations should form part of a new GDL including those of reputational risks
Key Recommendation 1: LBMA for processors and intermediate and the current economic model that
should engage with its GDL refiners. favours both the illicit trade and the
members to establish in more recycled market.
detail what they are or should be Key Recommendation 6: LBMA
looking for from regulatory regimes should take a lead in exploring how That said, the report is a first step
for ASGM, and then engage with it and its members can begin to toward promoting new engagement
governments, civil society and other move beyond the current largely and sourcing alternatives to GDL
stakeholders in ASGM producing compliance-based approach to refiners and ASM suppliers. Progress
countries to seek to secure the ASGM engagement, towards a will be slow and will require LBMA
reforms required to achieve these shared commitment to progressive to better understand imperfection
regimes. This task may be more improvement via mentoring and and the efforts to mitigate
effective if conducted in conjunction other partnerships, such as are shortcomings as sourcing practices
with donor governments and/or the envisaged in the OECD Responsible into responsible supply chains. It will
UN funded programme PlanetGold. Minerals guidance. This should require extensive outreach in 2023
include revisiting the language and and beyond to listen and learn from
Key Recommendation 2: LBMA should approach of the Responsible Gold new and existing ASM partners,
explore collaboration with the WGC Guidance (RGG). most notably producer governments.
and other stakeholders to clarify the
necessary and desirable regulatory LBMA Board Response to ASM To read the detailed report on :
conditions to encourage ASM/ Feasibility Study Towards an LBMA Good Delivery
LSM co-operation, including in the All Members of the Board found the List for Artisanal and Small-Scale
Responsibly Mined Gold scan the QR
production of responsibly mined ASM independent report prepared by code given below
gold. This would in turn encourage Gregory Mthembu-Salter and
GDL sourcing of ASM gold. Dr Tom Salter to be a comprehensive
overview of the main sourcing
Key Recommendation 3: LBMA challenges and obstacles facing
should encourage GDL refiners to the ASM sector. The Board agrees
develop long-term relationships with with their frank and realistic

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