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Perth Mint stops taking artisanal gold after sourcing allegations
By Swati Verma
Wednesday, June 17, 2020
Australia's Perth Mint, one of the world's biggest gold refiners, said it would stop processing metal from artisanal and small-scale miners after allegations that it took gold dug in Papua New Guinea using child labor and toxic mercury.
The Australian Financial Review said last week the mint refined gold worth hundreds of millions of dollars despite concerns from some staff about where it came from.
The mint has said it is confident it acted ethically and in line with regulatory requirements and responsible sourcing rules.
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Its chairman, Sam Walsh, said in a statement on Tuesday he had launched an independent review of the checks it makes on suppliers.
"The review will also assess the arrangements with licensed counterparties that may deal with Artisanal Small-scale Mining (ASM)," the statement said.
"Effective immediately as part of this process, the Perth Mint has suspended relationships with all companies and aggregators dealing with ASM." ...
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