Single Mine Origin Gold (SMO)
Where does your gold come from? The chances are that most jewellers, investors and consumers are not fully aware of the provenance of their products.
Why? Because the vast majority of the gold used in the jewellery industry cannot be traced to a known source. As a consequence, any potentially negative impacts of that metal also cannot be known and that is becoming an increasing problem for the industry, just at a time when consumers are making more ethical and sustainable choices.
It’s why a growing number of jewellers are choosing Single Mine Origin gold.
Full Segregation from Mine to Finished Product
The source of most gold is not simple to trace, in part because most gold in jewellery is usually melted together from different sources and not sold as a pure commodity.
That’s why Betts Group launched Single Mine Origin (SMO) gold in 2018, in partnership with Hummingbird Resources.
Sourced from the Yanfolila gold mine in Mali, SMO certified gold delivers unique vertical integration with an auditable chain of custody for the entire supply chain and full segregation from mine to finished product.
SMO gold must adhere to a number of strict CSR guidelines, so it only originates from mines with a proven track record of committed social and environmental responsibility.
Batch codes and QR codes offer consumers a direct link to the source of the precious metal used in their purchase, as well as giving an insight into the impact each transaction has helped to create through local community projects.
Whilst the price of gold is important, so too is knowing that a product is of a high quality and has been responsibly sourced.
The huge benefit of choosing SMO gold, is that there are no administrative barriers to entry or membership requirements for jewellers or investors. And with a plentiful and reliable supply, there is no pricing premium either.
Rather than creating another new standard, SMO must be mined in accordance with the World Gold Council’s Responsible Gold Mining Principles.
The five key themes of SMO gold are:
- Good corporate governance
- Progressive employment practices
- Strong health and safety procedures
- Committed environmental stewardship
- Responsible community engagement
SMO gold is 24 carat pure gold, produced and refined from one single mine site and plant. In an age where traceability is paramount, SMO-certification is the ultimate stamp of approval in precious metals.
SMO confirms that your gold is derived from a legitimate mining operation. It confirms that your gold holds no ties to conflict and has been produced at a mine where trade relationships are upheld with unwavering responsibility.
By purchasing SMO gold, investors and commercial buyers are supporting miners who are being paid a just wage under secure and safe employment. This in turn has a positive effect on the lives of the miners’ families and local communities who can benefit from the sustainability initiatives in place at the mine site and from residing in a region where legal business thrives. Extensive community development programmes include sanitation, education, health, environmental and alternative livelihood projects.
But SMO standards are not just advocated at the mine site, they are present at every stage of production. This is why SMO gold coins are produced at the Betts Metals refinery – the most ethical gold refinery in the world and now the world’s first SMO refinery.
Why choose SMO gold?:
- Auditable chain of custody from mine to finished product, with process assurance from world class audit partners
- Sourced from responsible partners operating to World Gold Council’s ‘Responsible Gold Mining Principles’
- Utilises economies of scale to ensure no pricing premium and plentiful supply
- No barriers to entry for jewellers or investors, with no administrative burden or membership requirements
- Broad range of products available from grain, sheet, wire to investment products
Betts Group uses responsibly sourced gold in all of our manufactured gold products. It’s part of our industry-leading commitment to supply responsibly mined gold to investors and the jewellery trade, including artisan jewellers and renowned names such as Boodles, Sheila Fleet and G. Collins & Sons.
Our complete service proposition includes refining services and a wide range of products and sundries such as grain, sheet, wire, bullion, wedding bands and engagement rings, jewelers’ tools and bespoke investment products.
Talk to our experienced and knowledgeable team for more information.
If you would you like to purchase a ring using SMO gold, or if you would like to purchase grain, sheet or wire, email [email protected] or call us on 0121 233 2413 for all products including investment products.