Sun, Mar 09, 2014 - Page 14 News List

‘Ethical gold’ aims to reduce mining’s toll

By Lucas Iberico Lozada  /  Reuters, RELAVE, Peru

That is a drop in the ocean of global supply, but would represent more than US$44 million in sales at today’s prices.

Advocates say that as the supply of ethical gold increases, more buyers will learn it exists and ask for it.

ARM executive director Lina Villa-Cordoba said the next step is to get a big jewelry firm to commit to buying ethical gold. Ultimately she hopes to reach the banks and traders that buy gold as a financial instrument.

“We have to find a way to create industry-wide demand, to move the market,” Villa-Cordoba said.

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