In this week’s webinar, Sakhila Mirza (LBMA Executive Board Director and General Counsel) provided a rundown of LBMA’s Responsible Sourcing strategy, flagging the imminent release of the Responsible Gold Guidance Version 9 in the coming days, Country of Origin data, engagement with International Bullion Centres, and future development of the Responsible Sourcing Programme.
Sakhila talked about how LBMA’s role is to lead and advocate for the continuous improvement of global Responsible Sourcing standards and business practices to ensure a sustainable precious metals industry. Priorities include transparency, audit programme, advancing standards, artisanal mining, value chain accountability, and sustainability.
“We have a commitment to continuous improvement,” explained Sakhila. “We remain very focused on continually improving our standards and recognising that we can do more to improve best practices. When it comes to Responsible Sourcing, everyone across the supply chain has a responsibility. No matter where you are in the value chain, we need to come together to support responsible supply chains.”
Alan Martin (Head of Responsible Sourcing at LBMA) then talked about audit reviews and how the Incident Review Process (IRP) supports LBMA’s Responsible Sourcing Programme, adding credibility by ensuring that GDL refiners strictly adhere to LBMA's stringent guidelines and requirements. Alan also explained how the IRP has been applied in three case studies and the role of the auditor. Take a look at our 2021 Responsible Sourcing Report for more details.
Neil Harby (Chief Technical Officer, LBMA) shared his insights into the Country of Origin data and what value it adds, and how, he explained, the data reveals the level of support required for Artisanal and Small-Scale Mining communities.
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Responsible Sourcing & Industrial Miners in ASM
Alan Martin (Head of Responsible Sourcing, LBMA) and Gregory Mthembu-Salter (Director, Phuzumoya Consulting) discussed how industrial miners could help responsible sourcing in the Artisanal and Small-scale Mining (ASM) sector.
The Future of Responsible Sourcing, Sustainability and ESG
The webinar features a discussion on the OECD’s three flagship initiatives to address problems in Artisanal and Small-scale Mining and the FATF report on Environmental Crime and Money Laundering – as well as many other topics relating to ESG.
Key Strategic Initiatives
Sakhila Mirza, LBMA Executive Board Member and General Counsel, offers a thorough overview of LBMA's current key strategic objectives in this video.