LBMA announced the publication of its Sustainability and Responsible Sourcing Report. Formerly called the Responsible Sourcing Report, the title has been expanded to reflect the importance of sustainability considerations when focusing on responsible sourcing, it said.
The Report aims to increase the transparency of the LBMA Responsible Sourcing Programme. It reviews the refiners’ and auditors’ performance during the previous 12 months and provides details on the Country of Origin (CoO) of the mine supply and refinement of Good Delivery List Refiners around the world. The CoO data is crucial for understanding the flows of gold and silver, and is a methodology which has introduced greater transparency for the refining industry, LBMA noted.
The report also indicates on how Refiners performed under the Programme, featuring case studies to illustrate any remedial action which has been taken to deal with issues of non-conformance.