RJC, LBMA & CFS Cross-Recognize ‘Conflict-Free’ Gold Refiner Audits
September 18, 12
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All three programs focus on independent third-party audits of refiners’ due diligence in conformance with the OECD Due Diligence Guidance, which recognizes refiners as a key “choke point” in the gold supply chain.
The Security and Exchange Commission (SEC) final rules for Conflict Minerals (Dodd-Frank Section 1502) also indicate that manufacturers can meet US requirements by relying on refiners who have been certified by industry groups’ “conflict-free” designation programs such as those of the CFS, LBMA and the RJC.
All three organizations have developed audit and certification programs that aim to increase conflict-related due diligence and responsible practices in the gold supply chain for their respective sectors. The cross-recognition means audit efficiency for gold refiners as well as the industry as a whole.