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Valcambi refines gold from Minera Limata co-operative, a small-scale mine in Peru

    Susi Huisman
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    By Susi Huisman in the group Redactie EPRM 220 days ago
    Valcambi refines gold from Minera Limata co-operative, a small-scale mine in Peru

    Valcambi, the Swiss gold refiner and one of the strategic EPRM members, announced that it is entering into a long-term supply agreement with the Minera Limata Limitada mining co-operative Concession AFC 12 (LIMATA AFC 12), a small-scale mine near Puno, South Peru.

    Thanks to a collaboration between the refiner and Fairtrade, Valcambi enabled LIMATA AFC 12 to access global markets for the first time.  Valcambi, complemented by Fairtrade’s existing on-the-ground relationship with the mine, worked to develop the supply chain necessary to source and refine the mined gold, selling this on to high-end jewellery manufacturers. LIMATA AFC 12 and Fairtrade continued the path to certification, and the mine achieved this soon after the first sale.

    This project is part of Valcambi’s long-term strategy to support and drive responsible gold mining and sourcing, with a special focus on Artisanal and Small Scale Mining (ASM).

    “We are taking a leadership role in ASM, using our sectorial weight to pull the sector forward on responsible business practices,” says Michael Mesaric, CEO of Valcambi. “The intent is to create positive outcomes for the mining communities, and allow us and the other industry actors to confidently source from artisanal mines.”

    Valcambi has developed an ASM sourcing model that aims to benefit the sector and producer nations while improving markets access for ASM miners.

    “LIMATA AFC 12 is a very important milestone for Valcambi and our sector,” adds Mesaric. “This project puts into practice our ASM sourcing processes and, most importantly, demonstrates that responsible artisanal mining and sourcing are possible, and that ASM can access the international gold market.”

    “LIMATA AFC 12 is a great example of collaboration between the public-private sector, in this case the Government of Peru; Fairtrade; Valcambi, and the jewellery industry, all joining forces to positively impact the ASM sector,” comments Mesaric. “For Valcambi, this is a strategic first and we look forward to bringing other projects on stream soon.”

    Notes to editors

    Read more about Minera Limata Co-operative

    Read about Valcambi’s journey on Artisanal and Small-Scale Mining

    Valcambi is a world leader in the refining of precious metals with more than 55 years’ experience. Based in Switzerland, we operate one of the world’s largest and most efficient integrated precious metals plants, with an annual refining capacity of up to 2,000 metric tonnes. We refine gold, silver, platinum and palladium and offer a broad range of products and services of the highest quality. We are committed to conduct our activities in a responsible way, to drive industry best practices and to unlock development and growth opportunities. Valcambi is fully owned by Global Gold Refineries Ltd (GGR) incorporated which is owned by Rajesh Export Limited India.

    Fairtrade is a global movement and strategy that aims to promote sustainable development. It empowers farmers, workers and miners and allows them the opportunity to improve their lives and plan for their future. Fairtrade is an alternative approach to conventional trade based on a partnership between producers and traders, businesses and consumers. It offers consumers a choice to empower farmers, workers and miners through their shopping decisions. Fairtrade believes in the importance to bring opportunities to those artisanal and small-scale mining organizations who have been working hard to formalize, certify and become visible in the market.

    Contact

    Virginie.Bahon@Valcambi.com p +41 (0)91 695 5324 www.valcambi.com

     

    Valcambi press release

    Photo credit: Valcambi