Gold Coast Refinery Limited has been certified to the Code of Practices of the Responsible Jewelry Council (RJC).
It thus becomes the first gold refinery in Ghana and West Africa to be certified to the Code of Practices of the RJC, an affiliate of the London Bullion Market Association (LBMA) responsible for the jewelleries and watches industry.
Gold Coast Refinery was recently handed the right to mint the Asantehene’s commemorative gold coin.
RJC is the leading standards authority in the global watch and jewellery industry and works with members worldwide to create a sustainable supply chain.
By this measure, Gold Coast Refinery is now a certified member of the council for a three-year duration.
The certification is issued in accordance with standards and supporting documentation of the Code of Practices 2019, which is aligned with the OECD Due Diligence Guidance and the UN Guiding Principles of Business and Human Rights.
Through the implementation of the Code of Practices, members contribute towards the United Nations 2030 Agenda and the 17 Sustainable Development Goals.
The Chairman of Gold Coast Refinery, Dr Said Deraz, commented: “Achieving RJC Code of Practices certification is a continuous improvement process that requires time and investment. All the members of the Gold Coast Refinery team have worked tirelessly to prepare for the rigorous third-party audit”.
“We have learnt a lot about our own operations, improved some of our processes, and developed and implemented new ones. We have also had strong engagement with our business partners and stakeholders”.
RJC certification promotes trust in the global fine jewellery industry by ensuring that companies adhere to responsible business practices.
A statement by Gold Coast Refinery said the company was “excited to begin this new chapter of becoming the premium gold refinery on the continent and client’s refinery of choice as this will enable Ghana gold buyers to source gold from responsible miners and also refine the gold before export and trade exit”.
“It is, therefore, important to demonstrate commitment to stakeholders to apply the highest standards of responsible sourcing and sustainable business practices.
“Ghana has an enormous potential and the ability to meet its ambitious domestic gold purchase programme and the development of responsible supply chains of gold from artisanal and small-scale mines,” the statement added.
“Certification is the bridge between standards and impact, and this will help Ghana to formalise sourcing practices and for the country to begin to possess the right to refuse irresponsible sources of gold,” the statement further said.
The RJC Code of Practices is the only industry standard covering the entire jewellery and watch supply chain as approved by the LBMA.
Chain of supply transparency and trust go hand-in-hand in the jewellery and watch industry.
RJC Chain of Custody certification will give Ghana and suppliers the assurance they need about how their products and materials have been sourced, traced, and processed through the supply chain.
Gold Coast Refinery is the first complete gold refinery in West Africa and the first in Ghana to be awarded a product certification licence by the government of Ghana to hallmark refined bullion of over 995 purity, and to market and sell its finished product, including refined gold bars and medallions, on both local and international bullion markets.
The refinery’s services include smelting and assaying, refining, bar manufacturing, inspection and certification, hallmarking, vault services, logistics and export, capacity building and training.