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Article

17 Nov 2005

Author:
Ben Bain, Financial Times

Jewellers throw weight behind mining bill protest [USA]

US retail jewellers have taken the unusual step of publicly opposing congressional legislation that would open more federal lands to mining, fearing a public backlash against gold jewellery if the industry became linked with environmentally irresponsible mining practices. Jewelers of America, the trade association representing companies such as Tiffany, Bulgari and Cartier [part of Richemont], this week urged the House of Representatives to drop certain provisions of a pending budget bill. The bill...would change a complex 1872 mining law that determines which public lands are available for mineral rights and private purchase, and would lift a moratorium on processing mineral patent applications...Michael Kowalski, chief executive of Tiffany who also sits on the Jewelers of America's board, said: "I think there is a recognition among jewellery retailers, and indeed among many mining companies and the entire jewellery supply chain, that we have a responsibility to make sure the entire supply chain conducts itself in a socially and environmentally responsible manner."