A Biased View of The Diamond Box

A Biased View of The Diamond Box

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About The Diamond Box

It was also starting implementation in the Democratic Republic of Congo. A variety of stars in the jewelry market has actually supported the DDI, consisting of De Beers, Tiffany and Co., Cartier, and Rio Tinto. In the future, the Initiative for Liable Mining Assurance (IRMA) will use jewelry firms an additional resource of responsibly-sourced precious minerals and treasures.


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IRMA's focus is industrial, as opposed to small or artisanal mines. The IRMA standard concentrates on social and ecological practices of mines, and has been developed by a wide stakeholder group that consists of mining companies, jewelry experts, and other "downstream users," nongovernmental companies, impacted communities, and organized labor. In 2018, IRMA is using a launch phase of certification for interested mines.


Some refiners are willing to set apart gold for processing, typically at added expense. As an example, refiners including PX Prcinox (Switzerland), Metalor (Switzerland), S&P Trading (France), and gussa (Austria) all improve Fairmined gold, segregating it from the various other gold that they process. Use recycled gold can assist prevent the civils rights threats and ecological injuries related to newly-mined gold, as long as companies conduct due diligence; nonetheless, utilizing recycled gold is not safe either, as it can be used for cash laundering or incorrectly classified as recycled.


When preparing this report, Human being Civil liberty Watch sent out letters to the 13 firms profiled below, asking for information concerning their policies and methods in relation to human legal rights due persistance and the sourcing of their gold and diamonds - G Shock Watches. These 13 companies were chosen to consist of several of the market's largest and best-known precious jewelry and watch firms and to mirror different geographic markets

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Furthermore and as explained above, Human Legal right Watch believes that fashion jewelry firms need to participate in efforts to support and resource from responsible, rights-respecting artisanal and small-scale mines. Based on a company's efficiency with concerns to these criteria, we have indicated whether the company is taking solid, modest, weak, or very weak steps towards responsible sourcing.


Below is a summary of findings, followed by a thorough description of each company. Seiko Watches. Annex 1 consists of a table with summary details on all business in connection with the requirements. A few of the fashion jewelry firms examined have actually made crucial efforts to properly source their gold and rubies, while others have actually taken much weaker measures, or disclose absolutely nothing regarding their efforts to resource gold and rubies responsibly




Bulgari can trace its gold to 2 refiners that are certified under the RJC's Chain-of-Custody Criterion, yet does not share information on mines of beginning. Cartier and Chopard have chain of protection for a portion of their gold supply. Cartier, for instance, purchases the entire outcome of a "version mine" in Honduras.

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Under this framework, where firms can not trace their product right back to the mine, they need to require upstream distributors such as gold refiners to supply them with in-depth evidence that they have actually carried out due persistance in their supply chain. Four firms examinedBulgari, Pandora, Signet, and Tiffany and Co.


Yet even these analyses were limited. Bulgari recognized that it is not requiring vendors to disclose their gold full supply chain to them, yet counts on their accreditation under the RJC's Chain-of-Custody Criterion. Signet and Pandora largely count on RJC audits versus the weaker Code of Practices to ensure themselves that their vendors have actually fully examined risks.


One business that stands out is Pandora, which publishes an annual principles report that includes an overview of noncompliance problems recognized through its provider audits. Publishing info regarding a company's distributors provides customers and investors more meaningful info regarding the resource of fashion jewelry and watches and sends out a message that business are eager to be liable when human rights abuses are found in their supply chain.

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Boodles, Pandora, Signet, and Tiffany and Co. state that they are exploring the possibility of sourcing from small and artisanal mines in the future. We examined each company versus the standards for responsible sourcing laid out over, based on the details they supplied directly, as well as info that is publicly readily available.




An in-depth evaluation of each business appears in the next area, and a table providing an introduction over the performance of all 13 companies can be found in the record annex - Seiko Watches. Tiffany and Co, established in 1837, is a deluxe jewelry expert with over 300 stores across 27 nations. Its 2016 profits was around $4 billion, with fashion jewelry representing 92 percent of its worldwide sales


Tiffany reacted to Person Civil liberty Watch's request for info with a written, comprehensive letter and fulfilled with Human being Rights Watch team in individual. Tiffany has partial chain of wardship over its diamonds, and can trace some of its diamonds to certain mines. On the basis of available information, Human Legal right Watch considers Tiffany and Co. to have actually made solid efforts to make sure human civil liberties due diligence.

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Chain of wardship: Tiffany and Co. has complete chain of protection over its gold supply chain. Twenty-seven percent of its gold originates from a single mine in Utah, the Bingham Canyon Mine, and the remaining 73 percent comes from recycled sources. It sources all of its recycled gold from one provider, which has the capability to segregate gold from mined and from recycled sources.


Boodles, Pandora, Signet, and Tiffany and Co. state that they are exploring the opportunity of sourcing from small and artisanal mines in the future. We analyzed each firm versus the requirements for accountable sourcing detailed over, based on the information they offered directly, along with details that is openly offered.


An in-depth evaluation of each company appears in the next area, and a table supplying an introduction over the performance of all 13 companies can be located in the record annex. Tiffany and Co, established in official site 1837, is a high-end jeweler with over 300 stores throughout 27 nations. Its 2016 profits was roughly $4 billion, with fashion jewelry representing 92 percent of its globally sales.

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Tiffany reacted to Human Civil liberty Watch's request for info with a written, thorough letter and satisfied with Human being Rights Watch personnel in person. Tiffany has partial chain of safekeeping over its rubies, and can trace some of its diamonds to details mines. On the basis of available details, Human Civil liberty Watch considers Tiffany and Co. to have actually made strong efforts to make certain human legal rights due diligence.


Chain of protection: Tiffany and Co. has full chain of custodianship over its gold supply chain. Twenty-seven percent of its gold originates from a single mine in Utah, the Bingham Canyon Mine, and the staying 73 percent originates from recycled sources. It sources every one of its recycled gold from one distributor, which has the ability to segregate gold from mined and from recycled resources.

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