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New collector coin by bank of Luxembourg marks single biggest purchase of Fairtrade gold.

@Fairtrade_Gold
#Fairtradegold

Fairtrade International is delighted by the launch of a new collector coin by Fairtrade Lëtzebuerg which was commissioned by the Banque central de Luxembourg to celebrate the 175th anniversary of Luxembourg’s independence.

The move amounts to 2,500 gold coins and represents the single biggest purchase of Fairtrade gold. The coins carry both the Fairtrade and the Fairmined labels.

To make the coins, small-scale artisanal miners from Aurelsa and Sotrami in Peru had to produce a significant 15 kilos of gold certified on Fairtrade terms. As well as the fair price the miners were paid, the organisations received a development premium of €34,000 that will be used for carrying out social projects.

Maria Rosa Reyes, manager of the Aurelsa organisation said: “Today is a big day for the Aurelsa mining community, small-scale mining and my country, Peru. After so many efforts to obtain the certification for our mine, we finally see our gold and our responsible extraction process recognized by the Bangue central du Luxembourg. We hereby prove that mines can produce responsibly and we hope that those coins inspire millions of miners to follow our example.”

Fairtrade gold was first introduced to the Luxembourg market in 2012 with seven participating jewellers. Fairtrade gold is also available in other Fairtrade markets including Australia, Belgium, Canada, Denmark, Netherlands, Norway, South Korea, Sweden and the UK, with other markets soon to follow including the USA and Switzerland.

Harriet Lamb, Chief Executive of Fairtrade International said: “We congratulate the Banque central du Luxembourg on the largest single purchase of Fairtrade gold. This collector coin is more than a symbol of independence – it is supporting the miners and communities of Peru to gain independence from poverty.

“We urge banks and companies to follow their pioneering example so that more artisanal and smallscale miners can have a fair price, safer working conditions and much-needed investment into their communities.”

Visit www.fairgold.net for further information.

– ENDS –

 

For more information, interviews, footage and images, please contact Martine Parry, Media and PR Manager in the Fairtrade Foundation press office on 020 7440 7695 or at martine.parry @fairtrade.org.uk

 

Notes to Editors

  • Around the world small scale mining employs about 15 million miners. As many as 100 million people depend on it for their livelihoods.

 

  • Fairtrade gold was first launched in 2011 in the UK closely followed by launches in Australia, Belgium, Canada, Denmark, Norway, Sweden, Netherlands, Japan, South Korea. Discussions are currently underway to introduce certified gold in the USA and Switzerland in the near future.

 

  • The Fairtrade Minimum Price for pure gold is set at 95% of the London Bullion Market Association’s (LBMA) fix plus a Fairtrade Premium of US$2000 per kilogram of fine gold bought from the mines. Platinum: 95% LMBA + Fairtrade Premium of 15%; Silver: 95% LMBA + Fairtrade Premium of 10%. The LBMA fix is the international agreed price for gold. Artisanal and small-scale miners (ASM) producers in the mainstream get anything from 50% to 85% of the LBMA fix.

 

  • Miners can earn a premium of 15% on top of their sale price when they recover and process gold without the use of harmful chemicals such as mercury and cyanide.
  • Certified miners must use safe and responsible practices for managing toxic chemicals in gold recovery. Chemicals have to be reduced to a minimum and where possible eliminated over an agreed time period.

 

  • Child and forced labour is prohibited under Fairtrade standards, and Fairtrade monitoring stamps it out wherever it is found.

 

  • The FAIRTRADE Mark is a certification mark and a registered trademark of Fairtrade International.  The Mark is licensed s on products which meet international Fairtrade standards. Today, more than 1.3 million people – farmers, workers and their families – across 70 developing countries benefit from the international Fairtrade system.

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