Gold Coast Refinery Limited has
been certified to the Code of Practices of the Responsible Jewellery Council
(RJC).
It
thus becomes the first gold refinery in Ghana and West Africa to be certified
to the Code of Practices of the RJC, an affiliate of the London Bullion Market
Association (LBMA) responsible for the jewelleries and watches industry.
Gold
Coast Refinery was recently handed the right to mint the Asantehene’s
commemorative gold coin.
RJC
is the leading standards authority in the global watch and jewellery industry
and works with members worldwide to create a sustainable supply chain.
By this measure, Gold Coast Refinery is now a certified member of the council
for a three-year duration.
The
certification is issued in accordance with standards and supporting
documentation of the Code of Practices 2019, which is aligned with the OECD Due
Diligence Guidance and the UN Guiding Principles of Business and Human Rights.
Through
the implementation of the Code of Practices, members contribute towards the United
Nations 2030 Agenda and the 17 Sustainable Development Goals.
The
Chairman of Gold Coast Refinery, Dr Said Deraz, commented: “Achieving RJC Code
of Practices certification is a continuous improvement process that requires
time and investment. All the members of the Gold Coast Refinery team have
worked tirelessly to prepare for the rigorous third-party audit”.
“We
have learnt a lot about our own operations, improved some of our processes, and
developed and implemented new ones. We have also had strong engagement with our
business partners and stakeholders”.
Jewellery industry
RJC
certification promotes trust in the global fine jewellery industry by ensuring
that companies adhere to responsible business practices.
A
statement by Gold Coast Refinery said the company was “excited to begin this
new chapter of becoming the premium gold refinery on the continent and client’s
refinery of choice as this will enable Ghana gold buyers to source gold from
responsible miners and also refine the gold before export and trade exit”.
“It
is, therefore, important to demonstrate commitment to stakeholders to apply the
highest standards of responsible sourcing and sustainable business practices.
“Ghana
has an enormous potential and the ability to meet its ambitious domestic gold
purchase programme and the development of responsible supply chains of gold
from artisanal and small-scale mines,” the statement added.
Benefits
“Certification
is the bridge between standards and impact, and this will help Ghana to
formalise sourcing practices and for the country to begin to possess the right
to refuse irresponsible sources of gold,” the statement further said.
The
RJC Code of Practices is the only industry standard covering the entire
jewellery and watch supply chain as approved by the LBMA.
Chain
of supply transparency and trust go hand-in-hand in the jewellery and watch
industry.
RJC
Chain of Custody certification will give Ghana and suppliers the assurance they
need about how their products and materials have been sourced, traced, and
processed through the supply chain.
Pedigree
Gold
Coast Refinery is the first complete gold refinery in West Africa and the first
in Ghana to be awarded a product certification licence by the government of
Ghana to hallmark refined bullion of over 995 purity, and to market and sell
its finished product, including refined gold bars and medallions, on both local
and international bullion markets.
The
refinery’s services include smelting and assaying, refining, bar manufacturing,
inspection and certification, hallmarking, vault services, logistics and
export, capacity building and training.
Source: Graphic Business