GJEPC Meets EU Delegation

Mumbai: A delegation of European Union officials that visited the office of the GJEPC today was assured by Council officials that the Indian trade is completely committed to promote responsible sourcing and conflict free gold. The EU officials are in India to discuss the recently finalised EU Regulation on Conflict Minerals and supply chain due diligence for importers of tin, tantalum, tungsten and gold (3TG).

The new regulations aim to prevent the minerals trade from funding conflict and human rights violations and obliges all but the smallest EU importers of tin, tungsten, tantalum, gold to do "due diligence" checks on their suppliers. Large manufacturers will also have to disclose how they plan to monitor their sources to comply with the rules.

The GJEPC officials told the delegation that Council has been attending the International Forum on Responsible Mineral Supply Chain being organised by OECD (Organization for Economic Co-operation and Development) since 2012 and has been actively involved in the promotion of responsible sourcing practices in the gold industry and supporting the dissemination of the OECD Due Diligence Guidance.

They informed the visitors that GJEPC has also made representations to the Government of India to frame a policy and ensure that only conflict free and responsibly mined gold bars and gold dore bars are allowed to be imported in the country. It has recommended that importers should ensure that the gold bar/ gold dore bar suppliers follow international responsible gold compliance rules. Further, the owner of the mining company should be made responsible to establish that there is transparency and impartiality (including no child labour and other socially responsible norms) and that anti-money laundering norms have been duly followed.

The Council team said that the government will be setting up a Gold Board soon. One of its responsibilities will be to control the gold import. It will also formulate a policy to ensure conflict free sourcing.

The EU delegation, led by Signe Ratso, Director, Directorate General for Trade, European Commission, Brussels, comprised Michelangelo Margherita, Deputy Head of Unit, Directorate General for Trade, European Commission, Brussels; Marika Jakas, Counsellor, Trade & Economic Affairs, Delegation of the European Union to India, New Delhi and Chaitanya Kaushal, Senior Trade Officer, Trade & Economic Affairs, Delegation of the European Union to India, New Delhi.

The Council was represented by Sanjay Shah, Convener, Diamond Panel Committee and Sabyasachi Ray, Executive Director.

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