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Responsible Sourcing

& Technology Summit  

Refineries as the 'Gate Keepers'

Dr Mark Pieth, Professor of Criminal Law and Criminology at the University of Basel

Dr Mark Pieth, a professor of criminal law and a specialist in international regulation is going to give an outsider’s view on some key issues that gold refineries are currently facing. He will namely address the current tendency of de-risking amongst refineries, a problematic move towards informal boycotting of ASM or certain world regions. He will go on to ask what due diligence efforts can reasonably be expected of refineries and what would be the role of industry organizations.

 

Finally he will address the challenges facing auditing and reporting, and remind that selfregulation depends essentially on credible auditing. 

Conflict and High-Risk Gold

Sasha Lezhnev is Deputy Director of Policy at the Sentry

Sasha Lezhnev provides context to the issue of conflict and high-risk gold and agrees with Dr Pieth that de-risking is not an option. He highlights the many ways in which conflict gold can be easily smuggled and stresses that more needs to be done by the industry to focus on the red flags in responsible sourcing when conducting due diligence reports, and provides five recommendations as to how this can be done.

 

Sasha stresses the fact that, in order for responsible sourcing to actually work, there needs to be a market for responsibly sourced gold.

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Next week, Sakhila Mirza, General Counsel at the LBMA will be providing an update on the Responsible Sourcing Programme, focusing specifically on the next three year strategy. She will be addressing the key development areas for the Responsible Sourcing programme, reflecting on some of the recommendations made by Dr Mark Pieth and Sasha Lezhnev and finally highlighting the implementation plan for the next three years. LBMA welcomes input from all stakeholders, so please do get in touch and share your thoughts on what you hear.