London Bullion Market Association (LBMA) has published the Sustainability and Responsible Sourcing Report 2023, which updates its readers on LBMA’s key workstreams relating to its Responsible Sourcing agenda since the second report was published in November 2022.
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 (GDL) refiners around the world. LBMA said this 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 also report 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.