London's gold market demands green credentials for producers


How hypocritical! For the LBMA is the agent of central bank price suppression policy, which induces miners to skimp on environmental protection and remediation -- to take the metal and run, leaving polluted gashes in the land.

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By Henry Sanderson
Financial Times, London
Tuesday, June 12, 2018

The world's biggest producers of gold will have to prove their green credentials if they want their metal to be traded on London's $5.5 trillion-a-year bullion market.

Under the new standards being introduced by London Bullion Market Association, refiners and miners will have to provide data on a range of environmental benchmarks including energy usage, pollution, water usage, carbon emissions, as well as health and safety.

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If miners or refiners do not meet the new guidelines that will begin next January, they face the prospect of being removed from the LBMA's good-delivery list, effectively shutting them out of the London market. The list of 70 approved refiners accounts for 90 percent of annual global gold production.

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