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Jewellers Beware: EU Imposes Strict Sourcing Norms For Gold Import

New European Union rules will usher in a European version of the US’s Dodd Frank Act. They follow guidelines for responsible supply chains originally established by the Organization for Economic Cooperation and Development. At present, the rules will only apply to the minerals of tin, tantalum, tungsten and gold.

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This sounds like both a curse and a blessing. Adding bureaucracy is rarely a good thing, with increasing costs and delaying supply lines. But reducing conflict minerals could be a good global result. Yes, I am worried for my own income and how it affects me, but how can we ignore the lives it can improve in various countries that are less fortunate than us?

Consumers Care — & They Want To Be Involved In Process Transparency

We are all consumers. On a daily basis we make informed decisions on where we chose to shop, what we buy and how much we are going to spend. And all of us in the jewellery industry rely upon the consumer directly or indirectly for our livelihoods.

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Well said. Every manufacturer must, to begin with, ensure that the gold, diamonds and gemstones they use is conflict free and demand that it be tracked down to its origin. Also choose genuine suppliers who keep the Best Practice Principles implemented throughout. I also think if manufacturers and dealers of our industry make transparency their USP and advocate it to their counterparts, the idea will have a good start. As for the knowledge of the consumer, someone rather everyone has to market the information very well. Be it any media the Internet, the Print media, the Digital display or at the point of sale; information must be made available to the consumer. People do read. If the summary of a company on the website or an editorials in the magazine just add a few must needed lines of information for people, it can do wonders and educate them.