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Date: April 24, 2024 Wed
Time: 1:10 pm
Time: 1:10 pm
Results for gold
10 results foundAuthor: Verite Title: Risk Analysis of Indicators of Forced Labor and Human Trafficking in Illegal Gold Mining in Peru Summary: Peru is one of the largest gold producers in the world- the fifth largest, if illegally produced gold is taken into account. Hundreds of thousands of people are employed in Peru in artisanal gold mining and peripheral services. With the support of Humanity United, Verite mapped production areas and the supply chain of Peruvian gold, consulted with experts from NGOs, government, and academia, and conducted interviews with almost 100 mine workers, and workers providing peripheral services (including mechanics, cooks, sex workers, transporters, and others). In the the course of these interviews, workers told us horrendous stories of labor and sexual exploitation in Peru. There are a number of factors that make the gold sector in Peru vulnerable to forced labor: primarily, the prevalence of illegal gold mining. Its illegality results in a black hole, in which miners operate in areas that are not fully under the control of the government. Verite's report on risks of forced labor in artisanal and small scale mining (ASM) in Peru raises challenging questions for companies in industries including jewelry, mining, electronics and banking. The report reveals that ASM gold tainted by human rights abuses makes its way - through corruption, laundering and illegal export- into the hands of global traders, refineries, banks and into our watches and smart phones. Our research on these largely hidden problems is intended to encourage action on the part of stakeholders, including companies, NGOs, governments, and industry associations to raise awareness of the vulnerability to forced labor, as well as actions companies can take to improve their ethical performance. Details: Amherst, MA: Verite, 2013. 120p. Source: Internet Resource: Accessed March 11, 2014 at: http://www.verite.org/sites/default/files/images/Indicators%20of%20Forced%20Labor%20in%20Gold%20Mining%20in%20Peru_0.pdf Year: 2013 Country: Peru URL: http://www.verite.org/sites/default/files/images/Indicators%20of%20Forced%20Labor%20in%20Gold%20Mining%20in%20Peru_0.pdf Shelf Number: 131853 Keywords: Forced LaborGold Human TraffickingPrecious MetalsSexual Exploitation |
Author: Financial Action Task Force Title: Money laundering and terrorist financing risks and vulnerabilities associated with gold Summary: Gold provides an alternative means for criminals to store or move their assets as regulators implement stronger anti-money laundering and counter terrorist financing measures to protect the formal financial sector from abuse. The joint FATF-Asia/Pacific Group on Money Laundering report, money laundering / terrorist financing vulnerabilities associated with gold, identifies the many features that make gold attractive to criminals to use as a vehicle for money laundering: it has a stable value, it is anonymous and easily transformable and interchangeable. The highly lucrative gold market also presents proceed-generating opportunities for criminals at each stage, from mining to retailing. Understanding what makes gold - like other precious metals and stones, such as diamonds - attractive to criminals to legitimise their assets and to generate profits is essential in identifying this sector's money laundering and terrorist financing risks. This report provides a series of case studies and red flag indicators to raise awareness of the key vulnerabilities of gold and the gold market, particularly with anti-money laundering/ countering the financing of terrorism practitioners, and companies involved in the gold industry. Details: Paris: FATF, 2015. 42p. Source: Internet Resource: Accessed July 29, 2015 at: http://www.fatf-gafi.org/media/fatf/documents/reports/ML-TF-risks-vulnerabilities-associated-with-gold.pdf Year: 2015 Country: International URL: http://www.fatf-gafi.org/media/fatf/documents/reports/ML-TF-risks-vulnerabilities-associated-with-gold.pdf Shelf Number: 136240 Keywords: GoldMoney LaunderingOrganized CrimePrecious MetalsTerrorist Financing |
Author: Wagner, Livia Title: Organized Crime and Illegally Mined Gold in Latin America Summary: Throughout history, man has venerated gold. Gold was the first of the three gifts of the Magi to Jesus. For much of the 19th and 20th centuries, the values of world currencies were fixed in terms of gold (the Gold Standard). Olympic athletes vie for gold medals and the best footballer in the world is awarded the Ballon d'Or. An extremely well behaved child is 'as good as gold' and a generous person has 'a heart of gold'. It is only natural to think positively about gold, just as it is equally natural to think negatively about drugs. But, as the Global Initiative proves in its latest research report: Organized Crime and Illegally Mined Gold in Latin America, illegally mined gold is now more important to organized crime in some countries of Latin America than narcotics: - In Peru and Colombia - the largest cocaine producers in the world - the value of illegal gold exports now exceeds the value of cocaine exports. - Illegal mining is the easiest and most profitable way to launder money in the history of Colombian drug trafficking In the first decade of the 21st century, two trends intersected: soaring gold prices greatly increased the profitability of gold mining, whilst the US led "War on Drugs", notably in Colombia and Mexico ('Plan Colombia' and the 'Merida Initiative'), sharply reduced the profitability of drug trafficking from Latin America to the USA. As a result, there were considerable incentives for the criminal groups that control the drug trade to move into gold mining, and the fragmented nature of artisanal gold mining in Latin America greatly facilitated their entry. These groups were quick to realise that taking control of large swaths of land remote from government attention and dominating the enterprises that mined that land would enable them to generate larger profit margins with much lower risk. Even though global gold prices have gradually decreased in recent years, organized criminal groups have continued to drive the expansion of illegal gold mining. The region is now unique in the high percentage of gold that is mined illegally; about 28% of gold mined in Peru, 30% of gold mined in Bolivia, 77% of gold mined in Ecuador, 80% of gold mined in Colombia and 80-90% of Venezuelan gold is produced illegally. Illegal gold mining employs hundreds of thousands of workers across Latin America, many of whom are extremely vulnerable to labour exploitation and human trafficking. Details: Geneva, SWIT: Global Initiative Against Transnational Organized Crime, 2016. 100p. Source: Internet Resource: Accessed March 30, 2016 at: http://www.globalinitiative.net/download/global-initiative/Global%20Initaitive%20-%20Organized%20Crime%20and%20Illegally%20Mined%20Gold%20in%20Latin%20America%20-%20April%202016%20(web).pdf Year: 2016 Country: Latin America URL: http://www.globalinitiative.net/download/global-initiative/Global%20Initaitive%20-%20Organized%20Crime%20and%20Illegally%20Mined%20Gold%20in%20Latin%20America%20-%20April%202016%20(web).pdf Shelf Number: 138482 Keywords: GoldIllegal MiningOrganized CrimePrecious Metals |
Author: Bafilemba, Fidel Title: Congo's Conflict Gold Rush: Bringing Gold into the Legal Trade in the Democratic Republic of the Congo Summary: A trade in illegally mined and smuggled "conflict gold" is fueling both high-level military corruption and violent rebel groups in eastern Democratic Republic of the Congo (DRC), according to a new report by the Enough Project. "Congo's Conflict Gold Rush: Bringing gold into the legal trade in the Democratic Republic of Congo," by the Enough Project's Fidel Bafilemba and Sasha Lezhnev, offers an in-depth portrait of the conflict gold supply chain, from muddy artisanal mines where gold is dug out with shovels and pick-axes, through illicit transport routes in Uganda, Burundi, and Dubai. Based on seven months of field research at mines and in regional capitals, the report provides an in-depth discussion of solutions to the conflict gold supply chain. Details: Washington, DC: Enough Project, 2015. 36p. Source: Internet Resource: Accessed June 7, 2016 at: http://www.enoughproject.org/files/April%2029%202015%20Congo%20Conflict%20Gold%20Rush%20reduced.pdf Year: 2015 Country: Congo, Democratic Republic URL: http://www.enoughproject.org/files/April%2029%202015%20Congo%20Conflict%20Gold%20Rush%20reduced.pdf Shelf Number: 139291 Keywords: GoldIllegal TradeIllicit TradeNatural ResourcesSmuggling |
Author: Dranginis, Holly Title: Going for Gold: Engaging the Jewelry Industry in Responsible Gold Sourcing in Africa's Great Lakes Region Summary: For thousands of years, gold has represented love, tradition, wealth, beauty, and decadence. In the United States alone, these associations cause the gold jewelry industry to be worth more than five billion dollars annually. Halfway around the world, however, the extraction and smuggling of gold serves as an important means of funding for armed groups and army commanders in the deadliest conflict since World War II. In the Democratic Republic of the Congo ("Congo"), violent armed actors mine, tax, and smuggle minerals and perpetrate widespread atrocities. Major supply chain reforms by electronics companies, coupled with the Dodd-Frank Act's section on conflict minerals and the beginnings of a minerals certification process in the Great Lakes region of Africa, have led to a marked improvement in the security situation at tin, tantalum, and tungsten (3T) mines in Congo. Over two-thirds of the eastern Congo's 3T mines are conflict-free today. Gold, however, remains a major financial lifeline for armed actors. 98 percent of artisanally mined gold - estimated at between $383 and $409 million in 2013 - is smuggled out of the country annually, and much of that gold benefits armed commanders. Gold sold by armed groups into the global supply chain ends up in various products, including jewelry, which is the main overall end user of gold. Conflict gold thus taints the industry as a whole. Fortunately, jewelry retailers and consumers can play important roles to help end the conflict gold trade and the suffering it causes, together with the actions of governments. Corporate and consumer behavior can lead to increased demand for responsibly sourced, conflict-free gold and promote investment in positive mining initiatives in the region. As the largest end-user of gold, making up around 45 percent of worldwide gold demand, jewelry companies have the ability to increase demand for conflict-free gold from Congo and the region. Resolving the conflict gold problem in Congo and the Great Lakes region will require concerted efforts by a number of actors, including governments worldwide, especially the United States, India, China, the United Arab Emirates, and in the region. International and local civil society actors, mining and refining companies, and artisanal mining groups must also play a role. But leadership by the companies that sell jewelry is an indispensable component to changing market demand to favor enterprises that promote peace and prosperity over those that entrench violence and criminality. The Enough Project has engaged with the largest jewelry retailers in an effort to encourage companies to use their power and resources in more robust, effective ways to support responsible sourcing in Congo and the Great Lakes region of Africa . To highlight leadership opportunities for companies that sell jewelry, Enough surveyed the 14 largest North American jewelry retailers through a detailed questionnaire and direct consultations. Our survey assessed what policies the retailers have adopted and which actions they have taken to counter the use of conflict gold. Details: Washington, DC: Enough Project, 2014. 84p. Source: Internet Resource: Accessed June 7, 2016 at: http://www.enoughproject.org/files/publications/GoingForGoldAndAnnex-EnoughProject-Nov2014.pdf Year: 2014 Country: Africa URL: http://www.enoughproject.org/files/publications/GoingForGoldAndAnnex-EnoughProject-Nov2014.pdf Shelf Number: 139295 Keywords: Conflict MineralsExploitation of Natural ResourcesGoldNatural ResourcesSmuggling of Natural Resources |
Author: Rettberg, Angelika Title: Gold, Oil and the Lure of Violence: The Private Sector and Post-conflict Risks in Colombia Summary: For the first time in decades Colombia seems to be on course towards a negotiated settlement with its two remaining guerrilla groups, the Revolutionary Armed Forces of Colombia and the National Liberation Army. However, the post-conflict prospects are not altogether auspicious. Abundant weapons in circulation, demobilised combatants with criminal expertise, and multiple opportunities for applying this know-how in both legal and illegal activities and organisations as part of the steady and continuing reconfiguration of criminal groups pose serious risks to stability and the sustainability of peace in Colombia over the coming years. This report presents a number of the challenges for Colombia's post-conflict stability arising from criminal networks and activities in regions associated with the extractive industry - and specifically in regions dedicated to oil extraction and gold mining. While domestic and foreign investments have risen over recent years, and overall security conditions have improved, it is likely that armed violence will continue and undergo further transformations in these regions. The emergence of new sorts of non-conventional armed violence, operating across the spectrum between conflict and criminality, illustrates the challenge of consolidating a post-conflict arrangement in Colombia. Details: Oslo: Norwegian Peacebuilding Resource Centre (NOREF), 2015. 13p. Source: Internet Resource: Accessed July 28, 2016 at: https://www.clingendael.nl/sites/default/files/Rettberg_NOREF%20Clingendael_Gold%20oil%20and%20the%20lure%20of%20violence_the%20private%20sector%20and%20post-conflict%20risks%20in%20Colombia_Sept%202015_FINAL.pdf Year: 2015 Country: Colombia URL: https://www.clingendael.nl/sites/default/files/Rettberg_NOREF%20Clingendael_Gold%20oil%20and%20the%20lure%20of%20violence_the%20private%20sector%20and%20post-conflict%20risks%20in%20Colombia_Sept%202015_FINAL.pdf Shelf Number: 139886 Keywords: Criminal NetworksGoldNatural ResourcesOilOrganized CrimeTheft of Natural Resources |
Author: Bromberg, Megan Title: Mapping the Illicit Mineral Trade: Identifying the Illicit Supply Chain for Diamonds, Gold, and Tantalum Across Contexts Summary: The illicit mineral trade is a global issue that affects all countries, as illicit or conflict minerals continue to unwittingly end up in our jewelry, phones, and laptops. Whether these minerals come from unregulated mines that use child labor and harm the environment, fund the insurgencies of armed groups, or are smuggled into neighboring countries by corrupt government officials, the illicit mineral trade is dependent on the exploitation of poverty and those who rely on the mining to survive. Details: Washington, DC: American University, 2016. 100p. Source: Internet Resource: Accessed September 20, 2016 at: http://www.american.edu/sis/practica/upload/Mapping-the-Illicit-Mineral-Trade.pdf Year: 2016 Country: International URL: http://www.american.edu/sis/practica/upload/Mapping-the-Illicit-Mineral-Trade.pdf Shelf Number: 145610 Keywords: Conflict MineralsDiamondsGoldIllegal MiningIllicit MineralsIllicit TradeNatural Resources |
Author: Masse, Frederic Title: Due Diligence in Colombia's Gold Supply Chain Summary: The OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas (hereafter OECD Due Diligence Guidance for Minerals) provides detailed recommendations to help companies respect human rights and avoid contributing to conflict through their mineral purchasing decisions and practices. The Due Diligence Guidance is for use by any company potentially sourcing minerals or metals from conflict-affected and high-risk areas and is global in scope. Colombia adhered to the OECD Due Diligence Guidance for Minerals in May 2012. To support implementation efforts by producing countries, the OECD commissioned a baseline assessment of the gold supply chain in Colombia. The aim of the baseline assessment is to analyse the gold mining sector in Colombia and the potential to build responsible mineral supply chains as defined in the Due Diligence Guidance for Minerals. The assessment should furthermore assess stakeholders' awareness of supply chain risks, the Due Diligence Guidance and the level of implementation - if any - of due diligence initiatives and related government initiatives that could be leveraged. The assessment should lead to strategic recommendations on how to advance responsible sourcing in the gold sector in a manner that makes a positive contribution to socioeconomic development of producer countries and communities. The following overview report is the first of a series of baseline assessment and aims to develop an initial approach and analysis for how risks outlined in Annex II of the OECD Due Diligence Guidance for Minerals are relevant in the Colombian context. The research for this report was undertaken by independent experts in 2015 and is based on previous research, new analysis of secondary sources, and exploratory interviews with key stakeholders in the mining and security sectors in Colombia.3 This initial report will be complemented by five regional case studies (phase II) and a concluding report (phase III) assessing ongoing due diligence and traceability projects and outlining recommendations on how these can be leveraged, improved and scaled up. Details: Paris: Organisation for Economic Co-operation and Development (OECD), 2016. 48p. Source: Internet Resource: Accessed September 30, 2016 at: https://mneguidelines.oecd.org/Colombia-gold-supply-chain-overview.pdf Year: 2016 Country: Colombia URL: https://mneguidelines.oecd.org/Colombia-gold-supply-chain-overview.pdf Shelf Number: 140534 Keywords: Conflict MineralsGoldIllegal MiningNatural ResourcesOrganized CrimeSupply Chains |
Author: Duarte, Natalia Title: Gold Trafficking in Colombia and the Andean Region Summary: The objective of this document is to present relevant descriptive information about gold trafficking with especial emphasis in the Andean region, and Colombia in particular. The information is organized in three parts: (i) Key criminal agents relevant in gold trafficking, (ii) key criminal hotspots referred to origins, routes and destinations of gold trafficking with emphasis on Peru, Colombia and Bolivia, as well as the criminal activities related to this illegal market, and (iii) relevant recent cases covered by the media. Details: Bogota, Colombia: Vortex Foundation, 2017. 18p. Source: Internet Resource: The Global Observatory of Transnational Criminal Networks: Research Paper No. 2; VORTEX Working Papers No. 16: Accessed August 25, 2017 at: http://docs.wixstatic.com/ugd/522e46_31103280795749c690ad49fff98a42be.pdf Year: 2017 Country: Colombia URL: http://docs.wixstatic.com/ugd/522e46_31103280795749c690ad49fff98a42be.pdf Shelf Number: 146901 Keywords: Conflict Minerals GoldIllegal Mining Mining Industry Natural Resources Trafficking in Natural Resources |
Author: The Sentry Title: The Golden Laundromat: The Conflict Gold Trade from Eastern Congo to the United States and Europe Summary: An investigation by The Sentry raises significant concerns that gold mined from conflict areas in eastern Democratic Republic of Congo ("Congo") is reaching international markets, including the supply chains of major U.S. companies and in products that consumers use every day. Documents reviewed and interviews conducted by The Sentry raise serious concern that the corporate network controlled by Belgian tycoon Alain Goetz has refined illegally-smuggled conflict gold from eastern Congo at the African Gold Refinery (AGR) in Uganda and then exported it through a series of companies to the United States and Europe, potentially including Amazon, General Electric (GE), and Sony. According to the United Nations (U.N.), conflict gold provides the largest source of revenue to armed actors in the conflict in eastern Congo, where an estimated 3.3 to 7.6 million people have died. An estimated $300 to $600 million worth of gold is smuggled out of Congo each year. According to documents reviewed by The Sentry, AGR exported approximately $377 million in gold in 2017 to an apparent affiliate of the Belgian gold refinery Tony Goetz NV, based in Dubai. According to 2018 U.S. Securities and Exchange Commission filings, 283 publicly-traded companies in the U.S. listed the Belgian refinery as an entity that may be in their supply chains, despite the fact that the refinery failed a major international conflict minerals audit in 2017. Those same filings indicate that AGR itself, opened in Uganda in 2016 and owned by Goetz, may also be in the supply chains of 103 publicly traded U.S. companies, including GE and Halliburton. Numerous sources interviewed by The Sentry identified AGR as sourcing conflict gold from Congo. Twelve different traders and government officials in the region told The Sentry that AGR has taken over a significant portion of the market for gold trafficked from Congo to Uganda and the region, and Ugandan export records reviewed by The Sentry show that AGR accounted for over 99 percent of gold officially exported from Uganda in 2017. Uganda is the main transit hub for gold smuggled out of Congo, according to the U.N. Group of Experts (with Rwanda growing as such).11 Two major gold smugglers in Congo acknowledged to The Sentry that they illegally trafficked gold from eastern Congo to AGR, and other regional gold traders corroborated these accounts. Furthermore, four regional traders told The Sentry that gold traffickers Buganda Bagalwa and Mange Namuhanda, who have been named in several U.N. Group of Experts reports on Congo as purchasers of conflict gold, supplied gold to AGR in 2017. AGR specifically denies having received gold from Bagalwa or Namuhanda and denies generally that it has otherwise received significant amounts of undocumented gold from other sources. Goetz has set up a major gold trading hub in Rwanda as well. The activities of the network appear to be noncompliant with both international supply chain due diligence guidance and international anti-money laundering safeguards as the network's companies buy, refine, and then sell the gold. As a result, the hundreds of publicly listed U.S. companies that may source gold from the refineries in this network are at risk of purchasing conflict gold. Goetz is a director or owner of 14 different companies, from Uganda, Dubai, Belgium, and Luxembourg, and 6 of these companies have the same address in Belgium. For its part, AGR steadfastly maintains that it is committed to refraining from any action that contributes to the financing of conflict and that its due diligence systems are based on international guidance. Further, Tony Goetz NV asserts that it follows strict procedures to avoid sourcing conflict minerals and that it follows all laws and international guidelines. Nevertheless, according to documents reviewed and sources interviewed by The Sentry, there is a significant risk that AGR has sourced large volumes of gold from eastern Congo with undocumented origins and lacking conflict-free certification. Although AGR has confirmed that it sources gold from Congo and that it sources some undocumented gold, it insists that the latter comes from old jewelry and other scrap sources. However, sourcing scrap from countries known to be transit points for conflict gold is a red flag in international due diligence guidance because it can be a loophole for mixing in gold from conflict sources. It is illegal, according to Congolese law, to export gold from artisanal mines that are not certified as conflict-free in Congo. An estimated 96 percent of artisanal gold mines in Congo are not certified at present (60 out of approximately 1,499), an estimated 71 percent of gold miners work at conflict mines according to the latest independent survey, and in 2017 the U.N. Group of Experts said that it had confirmed that nearly all artisanally sourced gold in Congo was exported illegally. In sum, nearly all of the gold mined in Congo flowing to Uganda is very likely not from certified mines. According to Ugandan export records, AGR also exported gold in 2017 to a Dubai-based company that in 2012 had reportedly been one of the most important cash suppliers to Kaloti Precious Metals, the Dubai-based gold refining giant. In 2015, a Kaloti refinery was de-listed from the Dubai "Good Delivery" list after failing to meet the criteria for Good Delivery certification and following a gold sourcing scandal. AGR has denied exporting to this company or knowing of the links between the supplier and Kaloti. Goetz's new gold trading operation in Rwanda is also significant, exporting approximately one ton of gold per month since November 2017 (the equivalent of $500 million per year), according to the U.N. Group of Experts. The U.N. Group of Experts concluded in 2018 that much of the gold traded in Rwanda and Uganda is smuggled from Congo and/or other neighboring countries. In 2016 and 2017, it appears that Goetz's network effectively assumed much of the market share previously controlled by another Uganda-based gold trading network run by the directors of Uganda Commercial Impex, which has been extensively involved in sourcing uncertified gold from eastern Congo for more than a decade, according to the U.N. Group of Experts. That network has greatly decreased its trade but remains somewhat active and in competition with Goetz, according to regional experts and the U.N. Group of Experts. The smuggling of gold from eastern Congo and the region by hand using commercial airlines also remains a key area of concern. The Sentry conducted over 100 interviews with gold miners, traders, and civil society organizations in Congo for this report. The investigation found evidence of armed groups and army commanders collecting illegal taxes on miners, government agents, and businessmen, and of clashes between armed groups and the Congolese army at gold mines. The trail of conflict gold follows a roughly six-step supply chain from eastern Congo to its primary end-products – jewelry, gold bars for investors and banks, and electronics.... Details: Washington, DC: The Sentry, 2018. 56p. Source: Internet Resource: Accessed November 15, 2018 at: https://cdn.thesentry.org/wp-content/uploads/2018/10/GoldenLaundromat_Sentry_Oct2018-final.pdf Year: 2018 Country: Congo, Democratic Republic URL: https://cdn.thesentry.org/wp-content/uploads/2018/10/GoldenLaundromat_Sentry_Oct2018-final.pdf Shelf Number: 153483 Keywords: Conflict Gold Conflict Minerals GoldSmuggling |