GOLD SUPPLY CHAIN INFORMATION


November 29, 2009:  “60 Minutes,” the Sunday night national news magazine on the CBS-TV network, aired a segment focusing on the issue of illegal artisanal gold originating from the eastern Democratic Republic of Congo (eDRC). We abhor the terrible mining practices taking place in the eastern Democratic Republic of the Congo. No gold should be produced in this manner. That is why we are working with our industry partners to develop a system to ensure gold mined this way does not enter the legitimate supply chain.

•    We expect our business partners to adhere to socially and environmentally responsible business practices. We take the impact of our company’s supply chain seriously and we believe that gold should be extracted and processed in a manner that respects the needs of current and future generations.

•    We believe that it is best to strive for improvements in mining practices and supply chain conditions through industry initiatives so as to maximize our effectiveness in addressing these issues. Such industry bodies have much greater credibility with governments and international organizations, whose co-operation is essential in successfully tackling these matters.

•    We believe meaningful reform must incorporate a wide range of industry stakeholders to ensure that responsible practices are developed and can be followed all the way through the supply chain. Without the engagement of all segments of our industry, individual commitments to responsible practices by retailers will not in the long term solve the problems highlighted by groups such as No Dirty Gold.

•    Therefore, the Responsible Jewellery Council (RJC), a non-profit organization, was founded in May 2005.  RJC is unique in that it seeks to promote and develop responsible social, ethical and environmental business practices throughout the diamond and gold jewelry supply chain from mine to retail.  Membership of RJC is comprised of companies and trade groups that, in total, are representative of the entire supply chain, from mine to retail. 
       
•    Jewelers of America, the national trade association of retail jewelers, of which we are a member, is one of the founders of RJC, as were we.

•    The Responsible Jewellery Council (RJC) has developed a set of Principles and a Code of Practice for companies from mining through to retail involved in the worldwide diamond and gold jewelry industry.  RJC has consulted widely with many stakeholders in the jewelry industry on the development of its Principles, and it’s Code of Practices which have now been published and outline the ethical, social, human rights and environmental practices to which RJC members should adhere.  This includes a comprehensive mining specific responsible sourcing code.

•    RJC requires that members have independent auditors verify their compliance with responsible practices, as defined by the RJC Code of Practices.  In addition, RJC plans to introduce a Mining Supplement to its system later this year.

•    RJC believes there is a need for an open and transparent approach and believes that by working in collaboration with civil society and governments it can promote and develop responsible business practices throughout the supply chain.  Therefore, RJC places importance on ensuring that interested parties, including NGOs, are represented and given the opportunity to be part of the overall consultation process.

•    For more information regarding RJC’s mission statement, founding members, and other information, please visit www.responsiblejewellery.com.

•    In addition, we have also been supportive of the Initiative for Responsible Mining Assurance (IRMA), launched in Vancouver, Canada, in June 2006. IRMA consists of jewelry and gold miners, industry bodies, and human/environmental rights groups, which have been working together to develop comprehensive responsible sourcing standards for mining operations.

•    For more detailed information about responsible gold mining, please go to www.trustingold.com, and responsiblegold.org.

•    If you require further information, please contact Customer Care at 1-800-877-8169.




Jewelers Vigilance Committee Diamond Council of America Jewelers Security Alliance Jewelers Of America Gemological Institute Of America World Diamond Council Responsible Jewellery Council Jewelry Information Center
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