Switzerland, the world’s largest international transit hub for gold, is taking significant strides in promoting ethical gold sourcing practices. The Swiss Better Gold (SBG) Association, established in 2013, exemplifies these efforts by supporting ethical and responsible practices in Artisanal and Small-scale Gold Mining (ASGM).
With Switzerland hosting four of the seven biggest precious metal refineries globally, its role in the gold supply chain is pivotal. In 2021, the country exported 1,560 tonnes of gold. Recognizing the increasing demand for ethically sourced gold from consumers and stakeholders worldwide, Switzerland has been at the forefront of encouraging responsible gold mining practices.
The SBG Association, comprising members such as Cartier, Chopard, and Metalor, focuses on sourcing gold from accredited ASG mines. Since its inception, the Association has imported over 13 tons of ASM gold, mainly from Peru, Colombia, and Bolivia.
The State Secretariat for Economic Affairs of Switzerland (SECO) has played a significant role in supporting SBG through a public-private partnership. This collaboration has led to an investment of 18 million CHF from 2013 to 2025, aimed at enhancing the welfare of ASGM.
Insights from Philippe Fornier, Honorary Board Member of SBG
Fornier, who has been part of SBG since its launch, shared insights on the motivation behind SBG’s formation and its journey. The inception of SBG was triggered by challenges in finding ethically sourced gold in Switzerland’s supply chain. Fornier recounted how discussions with Swiss stakeholders led to the creation of SBG to address these challenges, focusing initially on artisanal mines in Peru.
SECO’s contribution of 6 million CHF in the initial three years facilitated improvements in the social and environmental practices of selected South American mines. Fornier emphasized the importance of cooperation with local governments and the mines’ adaptability.
The SBG supports small gold mines in South America by improving mining operations to meet ethical sourcing criteria, providing market access, and co-investing in projects enhancing social and environmental conditions. The additional cost of $1 per gram of gold sourced is reinvested in miners’ welfare and mining processes.
To ensure traceability, SBG maintains a short supply chain, conducts annual audits, and in some cases, assists mines in achieving Responsible Jewellery Council certification. This approach has benefited approximately 6,000 miners and indirectly affected 62,000 people in Bolivia, Colombia, and Peru.
Addressing a recent incident at the La Esperanza mine in Peru, Fornier stated that SBG’s focus was on improving mining conditions and formalizing artisanal producers. The ongoing investigation into the accident will prompt a review of processes. He stressed the importance of continuing support for artisanal miners and highlighted the shared responsibility of buyers and consumers in the gold market.
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