Supply chain and traceability
For the ASFCMP, traceability is a key element in the compliance system and guarantees the excellence of the industry.
In addition to the implementation of a strict legislative framework and severe standards, the association also campaigns for certification solutions using blockchain solutions.
The ASFCMP participates through its members in the implementation of the new strict standards, both in the context of the LBMA (London Bullion Market Association) and the RJC (Responsible Jewellery Council). The purpose of these standards is to provide better production conditions as well as respect for environmental standards and human rights.
The ASFCMP is also involved in supporting the development of a register based on a blockchain in partnership with the Swiss company aXedras, helping to ensure transparency and safety along the supply chain, from the mine to the refinery. This technology guarantees almost immediate traceability in an environment where numerous parties are involved. It also safeguards the integrity of gold products, enables B2B transactions to be processed using the same data (with a unique source of truth), guarantees the confidentiality of business transactions and integrates the security characteristics of gold products. This system also means duplicate bars can be detected.
Different members of the Associations have issued their own standard with the same aim, but specific to their needs.
The Conflict-Free Gold Standard by the World Gold Council is directly aimed at mining companies, whereas the Responsible Gold Guidance by the LBMA is targeted at accredited refineries.
The Chain of Custody Standard by the RJC ensures that precious metals have been produced responsibly along the entire supply chain.
London Bullion Market Association (LBMA) guidance including the OCDE rules on conflict zones: OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas
The State Secretariat for Economic Affairs (SECO) and the Federal Department of Foreign Affairs (FDFA): The Commodity Trading Sector Guidance on Implementing the UN Guiding Principles on Business and Human Rights