Our The Diamond Box PDFs

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It was likewise beginning execution in the Autonomous Republic of Congo. A range of stars in the fashion jewelry sector has actually sustained the DDI, including De Beers, Tiffany and Co., Cartier, and Rio Tinto. In the future, the Initiative for Responsible Mining Assurance (IRMA) will provide fashion jewelry business an additional resource of responsibly-sourced priceless minerals and treasures.


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IRMA's emphasis is industrial, rather than small or artisanal mines. The IRMA criterion concentrates on social and environmental techniques of mines, and has actually been developed by a broad stakeholder team that consists of mining companies, jewelers, and other "downstream individuals," nongovernmental companies, influenced communities, and labor unions. In 2018, IRMA is supplying a launch phase of accreditation for interested mines.


However, some refiners are eager to segregate gold for processing, usually at extra cost. For instance, refiners including PX Prcinox (Switzerland), Metalor (Switzerland), S&P Trading (France), and gussa (Austria) all fine-tune Fairmined gold, segregating it from the various other gold that they refine. Usage of recycled gold can help avoid the human legal rights dangers and environmental damages related to newly-mined gold, as long as business perform due persistance; however, using recycled gold is not safe either, as it can be utilized for cash laundering or mistakenly classified as reused.


When preparing this record, Person Legal right Watch corresponded to the 13 business profiled below, inquiring regarding their plans and techniques in regard to civils rights due persistance and the sourcing of their gold and rubies - Herbelin Watches. These 13 firms were chosen to include some of the sector's biggest and best-known precious jewelry and watch business and to show different geographical markets

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On top of that and as described over, Civil rights Watch believes that precious jewelry business should take part in initiatives to support and resource from liable, rights-respecting artisanal and small-scale mines. Based on a business's efficiency with concerns to these requirements, we have indicated whether the business is taking strong, moderate, weak, or really weak actions towards liable sourcing.


Below is an introduction of findings, complied with by a thorough description of each business. Citizen Watches. Annex 1 has a table with summary details on all companies in relationship to the criteria. A few of the jewelry firms analyzed have actually made essential efforts to properly resource their gold and diamonds, while others have taken much weak measures, or divulge absolutely nothing concerning their initiatives to source gold and diamonds responsibly




Bulgari can map its gold to two refiners that are accredited under the RJC's Chain-of-Custody Standard, but does not share information on mines of origin. Cartier and Chopard have chain of guardianship for a fraction of their gold supply. Cartier, for instance, purchases the entire output of a "version mine" in Honduras.

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Under this framework, where business can not trace their product completely back to the mine, they need to need upstream distributors such as gold refiners to offer them with detailed proof that they have carried out due diligence in their supply chain. 4 business examinedBulgari, Pandora, Signet, and Tiffany and Co.


But even these assessments were restricted. Bulgari recognized that it is not needing distributors to divulge their gold complete supply chain to them, however relies upon their certification under the RJC's Chain-of-Custody Requirement. Signet and Pandora greatly count on RJC audits versus the weaker Code of Practices to guarantee themselves that their providers have actually fully analyzed risks.


One business that stands out is Pandora, which releases a yearly ethics report that includes an overview of noncompliance issues recognized with its vendor audits. Publishing information concerning a firm's vendors supplies customers and capitalists much more significant info regarding the source of precious jewelry and watches and sends a message that business are willing to be responsible when human rights misuses are found in their supply chain.

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Boodles, Pandora, Signet, and Tiffany and Co. state that they are discovering the opportunity of sourcing from small and artisanal mines in the future. We analyzed each firm versus the criteria for liable sourcing laid out above, based on the info they provided straight, in addition to info that is publicly readily available.




A thorough assessment of each firm appears in the next area, and a table supplying a summary over the performance of all 13 firms can be located in the record annex - Seiko Watches. Tiffany and Co, established in 1837, is a high-end jewelry expert with over 300 shops across 27 nations. Its 2016 profits was roughly $4 billion, with jewelry standing for 92 percent of its globally sales


Tiffany responded to Human Civil liberty Watch's demand for info with a created, comprehensive letter and fulfilled with Human being Civil liberty Watch personnel in person. Tiffany has partial chain of custodianship over its diamonds, and can trace some of its rubies to particular mines. On the basis of recommended you read offered details, Human Rights Watch takes into consideration Tiffany and Co. to have actually made solid efforts to make sure human civil liberties due diligence.

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Chain of custody: 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 continuing to be 73 percent originates from recycled resources. It sources all of its recycled gold from one supplier, which has the capacity to segregate gold from mined and from recycled resources.


Boodles, Pandora, Signet, and Tiffany and Co. state that they are checking out the possibility of sourcing from small-scale and artisanal mines in the future. We examined each company versus the requirements for liable sourcing outlined above, based on the info they provided straight, in addition to details that is openly available.


An in-depth evaluation of each firm appears in the following area, and a table providing a summary over the performance of all 13 companies can be discovered in the record annex. Tiffany and Co, established in 1837, is a high-end jeweler with over 300 shops throughout 27 countries. Its 2016 profits was roughly $4 billion, with fashion jewelry standing for 92 percent of its worldwide sales.

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Tiffany replied to Civil rights Watch's request for information with a composed, thorough letter and met with Civil rights Watch staff personally. Tiffany and Co. states that it is "dedicated to decreasing environmental effects, valuing civils rights and contributing in a favorable method to the areas where we operate." Tiffany and Co.


Tiffany has partial chain of custodianship over its diamonds, and can trace a few of its rubies to certain mines. It does not release the results of audits or just how it reacts to instances of noncompliance. On the basis of readily available info, Human Civil liberty Watch considers Tiffany and Co. to have made strong initiatives to ensure civils rights due persistance.


Chain of custody: Tiffany and Co. has full chain of safekeeping over its gold supply chain. Twenty-seven percent of its gold originates from a single mine in Utah, the Bingham Canyon Mine, and the continuing to be 73 percent comes from recycled resources. It sources every one of its recycled gold from one distributor, which has the capability to set apart gold from extracted and from recycled sources.

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