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Political correctness: Cartier provides a new gold standard

Author: Nicola Copping, FT, Published on: 14 September 2009

The ethical practices that the diamond industry has been obliged to apply are steadily being extended to the gold industry...In July [Cartier (part of Richemont)] announced that it had started sourcing gold from a new mining operation in Honduras, developed and managed by...Goldlake. The brand claims Goldlake’s Eurocantera mine is an innovative business committed to operating to high ethical, social and environmental standards...The Eurocantera mine provides chemical-free technology (without the use of potentially harmful mercury or cyanide): reforestation of areas denuded of trees; a zero discharge water management system; and 100 per cent recycling of waste materials. It also offers training and education programmes for artisan miners. But the mine can provide only a small part of Cartier’s entire demands...illustrating that the impact is a minimal one, rather than a seismic shake-up of sourcing methods. [also refers to Tiffany & Co, De Beers, Van Cleef & Arpels (part of Richemont)]

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Related companies: Cartier (part of Richemont) De Beers (part of Anglo American) Goldlake Richemont Tiffany Van Cleef & Arpels (part of Richemont)