In September 2014, the Council for Responsible Jewelery Council (RJC) recognized version 2.0 of the Fairmined Standard v.2.0 as part of the Chain-of-Custody Standard (CoC) Standard for Precious Metals , said in a press release of RJC, directed by Rough & Polished.
This decision was the result of a thorough analysis of the compatibility of the CoC Standard and Fairmined Standard standards, which was conducted by the RJC Standards Committee with the participation of stakeholders.
Mutual recognition of the standards makes it possible to consider gold produced by companies operating under the Fairmined standard, as well as Eligible Gold, within the scope of supply chain certified by CoC.
Thus, gold produced by artisanal and small enterprises and purchased under the CoC, can be mixed with other gold that meets the requirements of CoC.
It is noted that the status of a certified by the standard Fairmined metal, can receive products produced in strict accordance with the Fairmined system.
Among the benefits of certification Fairmined for manufacturers, the company refers to access to a new variety of markets, as well as the fact that RJC members are now more motivated to purchase the products of the Fairmined mine.
In turn, RJC members operating within the CoC, such as refiners, can take gold produced at Fairmined's mines and include it in the CoC supply chain along with other gold certified as CoC Gold.
Also, adopting the Fairmined standard, manufacturers support the principles of fair gold mining.
To obtain a Fairmined certification, a company that purchases gold from the Fairmined mine should be registered in the system and meet the required trade standards. Then the company will have the right to label its products as Fairmined and claim that it is certified accordingly.
Otherwise, the company may purchase CoC certified products that contain Fairmined gold, but do not have the right to declare that the product is Fairmined compliant.