August 30 2013
In order to improve the social, economic and environmental performance of Artisanal and Small-scale Gold Mining (ASGM), and in collaboration with the Inter-American Development Bank through the Multilateral Investment Fund (MIF), we have kicked off the project entitled: “Strengthening incentives for formalization and improved environmental and social performance in Artisanal and Small-scale Mining”.
The project will be running for four years and will be based on the FAIRMINED Gold certification system – one of the world’s first independent ethical certification schemes for gold and precious metals extracted by artisanal and small-scale miners. As the main market incentive, the FAIRMINED Gold certification will be guiding the formalization processes of Artisanal and Small-scale Mining Organizations in Bolivia, Colombia and Peru. The FAIRMINED Gold certification system considers the improvement of environmental, social and governance practices as key measures needed to achieve sustainable development of mining communities, while at the same time contributing to social welfare and environmental protection.
Other organizations, foundations and institutions such as Fondo Acción, Fundación Ayuda and the JCK Industry Fund have also joined the effort.
“This project is a great opportunity to implement formalization models under a strategy that combines the adoption of best practices, a multi-sector approach, and ethical market access as important elements for a transformation of the sector in the region. We feel a strong commitment to the IDB and to all organizations who believe in responsible Artisanal and Small-scale Mining, especially to the miners who want to do things right and be recognized as legitimate stakeholders in the mining sector in their countries.” said Lina Villa-Cordoba, Executive Director of the Alliance for Responsible Mining (ARM).