Dubai: With ‘ethical sourcing’ taking on heightened significance, the jewellery retailer Malabar Gold & Diamonds has signed up with Rand Refinery for its bullion needs.
The ‘RandPure’ branded gold is 100 per cent ethically sourced – which means their origins are certified. These are procured only from South Africa based Rand Refinery’s Securities Exchange listed mines, with the raw materials processed in a segregated production line.
Each RandPure gold batch carries an easily identifiable mark and a ‘Certificate of Assurance’, providing customers with details such as the country of origin, mining period and conflict-free nature.
“Sustainability and responsible business practices have formed the core of our operations at Malabar Gold & Diamonds,” said M. P Ahammed, Chairman of Malabar. “Through our association with Rand Refinery and procurement, we are reaffirming our commitment towards responsible and ethical sourcing by opting for gold that meets the strictest industry norms.”
Ethical sourcing has been a hot topic issue in the global precious metals trade.
The traceability of RandPure Gold is subject to an annual audit that is in adherence to conflict zone regulations and guidance from the World Gold Council, LBMA, and OECD. These guidelines including the ‘Global Precious Metal Code’, which encourage refineries to tackle human rights violations at the mines and avoiding contribution to conflicts in volatile regions. They must also conform to standards on internationally accepted environmental practices, Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) policies.