September 17, 2020

LBMA's first Annual Responsible Sourcing Report

Country of Origin data on gold mining revealed

We are excited to announce the publication of our first annual Responsible Sourcing Report, which provides data on the country of origin highlighting where gold is mined and refined around the world.

The aim of this annual report is to increase the transparency of the LBMA Responsible Sourcing programme. It reviews the refiners’ and auditors’ performance during the previous 12 months and provides detail on the Country of Origin (CoO) of where GDL refiners mine and refine gold around the world. It is vital to understand the CoO data, as it provides more granular insight on gold and silver flows.

In this first report, we set out the scope of the programme, including the responsibilities of LBMA accredited refiners and the steps LBMA takes to ensure their compliance with our programme. The continuing aim, however, is to provide information on the preceding 12 months, and on how the refiners performed under the programme.

Every year, the report, will feature case studies to illustrate the key points and remedial action that LBMA has taken to deal with issues of non-conformance. In addition, auditors’ performance will also be reviewed, and more information provided on how LBMA has further strengthened auditor training.