Russian diamonds and gold: ensuring your jewelry purchases are not funding conflict
RESPONSIBLE SOURCING, TRACEABILITY, AND CONFLICT
As the world watches the atrocities taking place in Ukraine, knowing who and where gemstones and precious metals are sourced is more important than ever.
Many of us are conscious of the social impact of our purchases and how we invest in ESGs (environmental, social, and corporate governance). Let’s explore what responsible sourcing means for the gemstones and precious metals in your jewelry.
Responsible sourcing looks a little different around the world, but the best practices strive towards:
• conflict-free
• knowing who and the origin of gemstones and precious metal
• a traceable, transparent supply chain, that is as short as possible
• protecting people, their skills, and sustainable vertical integration in mining communities
• protecting the environment and wildlife, be it land or sea
• mercury-free, fairmined gold
Specific to Russia, there are real concerns about Russian diamonds and gold (even recycled) in the marketplace. It is believed that 30% of the global diamond market is of Russian origin. You can read more about it here.
The good news is there are options to ensure your diamond jewelry purchases are not funding conflict. Sources exist from countries that have a fully transparent supply chain such as Botswana and Australia. Post-consumer recycled diamonds are great options as are colored gemstones.
With regard to recycled gold, moving forward with mercury-free, Fairmined gold is a great way to ensure your jewelry is not financing Russia’s war.
Find out “Why It’s So Hard to Keep Russian Diamonds and Gold Out of the U.S. Despite Sanctions” in the Wall Street Journal in pdf form here.
IN CONVERSATION: DECODING ARTISANAL MINING
Together with Adrianne Sanogo, we discuss our interviews with leaders at the forefront of responsible sourcing and supporting the men and WOMEN in artisanal mining communities. We asked about the challenges involved and solutions in place that encompass traceability and transparency.
Consumers are familiar with the word “sustainable”, but “responsible” sourcing is a more meaningful goal because this encompasses what is good for people, the environment, and ensures local economies can thrive through vertical integration.
Catch a glimpse of how East African artisanal mining communities are more like extended families - and entrepreneurs.
Roger, Ginger, and Rachel Dery created Gem Legacy, a 501(C)3 that provides vocational training, equipment, and support to entrepreneurs in mining communities.
Some of these are women, such as the Precious Women Mine!
What are the challenges that artisanal and small-scale miners face in East and Southern Africa?
We spoke with “rock star” Monica Gichuhi of Virtu Gem.
Images are courtesy of Cristina Villegas of PACT, which co-founded Moyo Gems.
We discovered aspects of artisanal mining including legal protection, conflict, human rights, and gemstone education to enable more equitable pay in the supply chain - for both men and women.
SHOP JEWELRY WITH RESPONSIBLY SOURCED GEMSTONES
THE JEWELRY GLOSSARY PROJECT
An ongoing global initiative worth following is the Jewelry Glossary Project.
The purpose is to create shared definitions of key terms within the jewelry industry for use by the trade and the public. The project was launched to increase transparency throughout the supply chain, by building consensus on definitions for key terms and creating accountability for their usage.
The origin of gemstones: TRACEABILITY
This is an example of a proprietary provenance report that demonstrates Nomad’s commitment to transparency, trust, and traceability. Beyond the descriptive details about each gemstone, the report discloses the history of the origin and a specific gemstone’s journey to their cutting wheel. Nomad’s developed 4 levels of traceability - from Level 1, acquired through direct “mining partnership”, to Level 4 acquired through a dealer in an “open market” with the origin being determined by a gemstone laboratory.
THE BRILLIANT CONCIERGE: YOUR FINE JEWELRY GUIDE
I find discerning jewelry that aligns with your values. Beyond gemstone sourcing, this includes private shopping for:
rings
earrings
necklaces
bracelets
responsibly sourced gemstones
Learn more about this white-glove service.
All The Brilliants’ fine jewelry concierge is New York City based. From the Upper East Side to Park Slope, I can come to you - or we can meet virtually!