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Patchy gold data could suggest smuggling risk, research finds


A study of global gold trading data has uncovered signs of smuggling in several major markets, warning that metals traders, refiners and banks should pay closer attention to potential red flags.
According to research by investigative campaign group Global Witness, many countries are currently exporting quantities of gold far in excess of their reported production and imports.
Though this can be partly attributed to flaws in how data is recorded and presented, the report warns that in many cases it suggests gold is being smuggled across international borders in order to disguise its dubious origins.
“When gold is smuggled into a country, it is not reported as an import, but it often leaves the country through legal channels and shows up in the export figures, leading to gaps between production and net export figures,” Global Witness says. ....

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NGOs criticize LBMA's gold sourcing program - The Northern Miner


NGOs criticize LBMA’s gold sourcing program
International regulations have succeeded in limiting the export of conflict minerals, but illegally mined minerals continue to support warlords in in certain areas of the world. (
Image courtesy of Fairphone.)
Advocacy group Global Witness along with four other civil society organizations said today that the London Bullion Market Association’s (LBMA) responsible sourcing program has failed to ensure that only responsibly-sourced gold, conflict-free and untainted by human rights abuses is traded worldwide.
“We had hoped that September’s release of the LBMA’s first annual Responsible Sourcing Report 2020 would address these concerns,” the organization wrote in an open letter to the LBMA on March 8. “We welcome the report, which provides more detail than previous publications.”  ....

City Of , United Kingdom , Alex Kopp , Anneke Van Woudenberg , Minerals Regulation , London Metal Exchange , European Union , World Gold Council , Kaloti Precious Metals Group , London Bullion Market Association , Global Witness , Responsible Sourcing Report , Dubai Based Kaloti Precious Metals Group , Van Woudenberg , Conflict Minerals , Gold Guidance , Witness Alex Kopp , நகரம் ஆஃப் , ஒன்றுபட்டது கிஂக்டம் , அலெக்ஸ் காப் , தாதுக்கள் ஒழுங்குமுறை , லண்டன் உலோகம் பரிமாற்றம் , ஐரோப்பிய தொழிற்சங்கம் , உலகம் தங்கம் சபை , கலோதி ப்ரெஶியஸ் உலோகங்கள் குழு , லண்டன் பொன் சந்தை சங்கம் ,

Conflict Minerals Still Traded Worldwide


Taarifa Rwanda
Published 3 weeks ago
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On Tuesday Global Witness, along with four other advocacy groups said that the London Bullion Market Association’s (LBMA) responsible sourcing program has failed to ensure that only responsibly-sourced gold, conflict-free and untainted by human rights abuses is traded worldwide.
The five organizations also called on the European Union (EU) not to endorse the LBMA, the world’s most influential gold market authority, which would make imports into country members troublesome.
“We had hoped that September’s release of the LBMA’s first annual Responsible Sourcing Report 2020 would address these concerns. We welcome the report, which provides more detail than previous publications,” the organizations wrote in an open letter to the LBMA. ....

City Of , United Kingdom , Alex Kopp , Anneke Van Woudenberg , Minerals Regulation , London Metal Exchange , European Union , World Gold Council , Kaloti Precious Metals Group , London Bullion Market Association , Global Witness , Responsible Sourcing Report , Dubai Based Kaloti Precious Metals Group , Van Woudenberg , Conflict Minerals , Gold Guidance , Witness Alex Kopp , நகரம் ஆஃப் , ஒன்றுபட்டது கிஂக்டம் , அலெக்ஸ் காப் , தாதுக்கள் ஒழுங்குமுறை , லண்டன் உலோகம் பரிமாற்றம் , ஐரோப்பிய தொழிற்சங்கம் , உலகம் தங்கம் சபை , கலோதி ப்ரெஶியஸ் உலோகங்கள் குழு , லண்டன் பொன் சந்தை சங்கம் ,