Gold Coast Refinery Limited has received certification to the Responsible Jewellery Council’s Code of Practices (RJC).
As a result, it becomes the first gold refinery in Ghana and West Africa to be accredited to the RJC’s Code of Practices, a subsidiary of the LBMA that oversees the jewelry and watch industries.
The authority to produce the commemorative gold coin for the Asantehene was recently granted to Gold Coast Refinery.
In order to establish a sustainable supply chain, RJC collaborates with members across the globe. RJC is the premier standards body in the international watch and jewelry sector.
By virtue of this action, Gold Coast Refinery has been granted certification as a three-year member of the council.
The certification is given in accordance with the requirements and supporting materials of the 2019 Code of Practices, which is in line with the OECD Due Diligence Guidance and the UN Guiding Principles of Business and Human Rights.
Members work toward the 17 Sustainable Development Goals and the 2030 Agenda of the United Nations by putting the Code of Practices into practice.
“Achieving RJC Code of Practices certification is a continual improvement process that demands time and effort,” said Dr. Said Deraz, chairman of the Gold Coast Refinery. The entire Gold Coast Refinery team has put forth a lot of effort to get ready for the demanding third-party audit.
We refined some of our procedures, created new ones, and learned a lot about our own business operations. Additionally, we have a solid relationship with our business partners and stakeholders.
Industry of jewelry
By confirming that businesses follow ethical business principles, RJC accreditation fosters trust in the world’s fine jewellery market.
Gold Coast Refinery released a statement in which it stated that it was “excited to begin this new chapter of becoming the premium gold refinery on the continent and clients’ refinery of choice as this will enable Ghana gold buyers to source gold from responsible miners and also refine the gold before export and trade exit.”
“Therefore, it is crucial to show stakeholders that you are committed to using the highest standards of ethical sourcing and sustainable business practices.
The statement said, “Ghana has immense potential and the capacity to meet its ambitious domestic gold purchase program and the creation of responsible supply chains of gold from artisanal and small-scale mines.
The statement continued, “Certification is the bridge between norms and impact. This will allow Ghana formalize sourcing methods and for the country to start having the ability to refuse irresponsible sources of gold.
According to the LBMA, the RJC Code of Practices is the only industry standard that applies to the full supply chain for jewelry and watches.
In the jewelry and watch industries, trust and supply chain transparency go hand in hand.
Ghana and suppliers will have the certainty they want about how their goods and materials have been sourced, tracked, and handled along the supply chain thanks to RJC Chain of Custody certification.
The Ghanaian government granted the Gold Coast Refinery, the first fully operational gold refinery in West Africa and the first in Ghana, a product certification license that allows it to mark refined bullion with a purity level of over 995 and to sell its finished goods, such as refined gold bars and medal lions, on both domestic and international bullion markets.
Smelting and assaying, refining, bar production, certification and inspection, hallmarking, vault services, logistics and export, capacity building, and training are only a few of the refinery’s services.