Introducing Fairtrade Gold wedding rings
Last week, we introduced Fairtrade Gold wedding rings – available by selecting the Fairtrade Gold metal option on our wedding ring product pages. The move follows the introduction to our site (during 2014) for the option of Fairtrade Gold for engagement rings.
Fairtrade gold wedding rings are created using fully traceable, ethically sourced gold mined by small scale artisanal miners. The gold makes its way through a controlled, documented supply chain without coming into contact with any other sources of gold.
Benefits of Fairtrade Gold wedding rings
Most people have heard of Fairtrade bananas, coffee or cotton, but few people know that Fairtrade Gold exists.
Approx. 10% of the World’s gold supply comes from small scale mining operations accounting for 380-450 tonnes of gold each year. Small scale miners are usually impoverished, and often exploited – scraping a living within dangerous environments. They work in hazardous conditions and expose themselves to dangerous chemicals to extract gold from the ore.
Fairtrade certification allows small scale mining groups to earn a fair price for their gold (95% of the fix set by the London Markets Bullion Association) with an additional premium of $2000 per kg of fine gold to go towards business and community development projects.
Being part of the Fairtrade system enables miners to be part of an organised group – working towards improved working and living conditions, improved healthcare, childcare and the proper use of chemicals.
Our own cost is a small premium per gram for the gold which we absorb by personal choice without increasing the cost of Fairtrade jewellery for our clients.
Carrying the Fairtrade stamp
Fairtrade Gold wedding rings carry the Fairtrade Stamp alongside the regular gold hallmark.
Interesting Gold Facts
Artisanal and small scale miners account for around 90% of the labour force for gold extraction. They are characterised by high levels of poverty.
In 2013 $100 billion was spent on gold jewellery around the world.
The price of gold has risen from $256 in 2001 to over $1895 per ounce in 2011.
For Fairtrade Gold produced without the use of chemicals, miners receive an additional 15% (an ecological premium) on top of the minimum price.
The long term vision for Fairtrade is to reach 5% of the global jewellery market within 15 years.
Fairtrade Gold is one of the only sources of gold to provide a fully traceable route from the mine to the finished product.
From traditional mining and refining processes, the production of a single 18ct gold ring generates on average 20 tonnes of environmental waste
Approx. 35% of the gold circulating worldwide is from recycled sources.
Further help with Fairtrade Wedding Rings
If you would like more information or guidance on buying wedding rings made from Fairtrade Gold, please get in touch at any time.