The Merkin Group adopts OECD and World Gold Council Standards

The Merkin Group adopts OECD and World Gold Council Standards in Gold Supply Chain

As our Gold and Precious Metals and liquid commodities businesses continue to develope The Merkin Group aspires that particularly our supply chain due diligence policy and practices, and our continued commitment, must be and are consistent with the laws rules and framework of

  • Australia,
  • The United States of America,
  • OECD Due Diligence Guidance on conflict minerals, as well with
  • the LBMA Responsible Gold Guidance,
  • Free Trade Zones (such as DMCC UAE), and
  • Responsible World Gold Council Standards.

We employ this policy by having implemented a program of strict due diligence to ensure that the gold and metals we source meet the highest human rights, social, and environmental criteria at all stages in the supply chain (mining, processing, etc.).

The Merkin Group Commits to:

  • Basic human rights are being respected by all parties involved in the mining, processing, and exporting of the metal. We will not tolerate any kind of inhuman treatment, forced or compulsory labor, child labor, human rights violations, and abuses.
  • Workers’ rights and labor standards are being respected by all parties involved in mining, processing, and exporting of the metal.
  • Not engaging and to immediately discontinue engagement with customers or suppliers where we identify a reasonable risk that they are committing, or are sourcing from or linked to any party committing any abuses described above or any other illegal party.
  • Procure only conflict free metals which do not facilitate the funding of any kind of armed conflicts.
  • Procure metals only from countries NOT prohibited by the laws of the United States of America and OECD.
  • Not offering, promising, giving or demanding bribes or kickbacks in any form to individuals, including government officials, customers, contractors and suppliers or any other organization.
  • Not misrepresenting taxes, fees and royalties paid to governments for the purposes of extraction, trade, handling, transport, and export of precious metals.
  • Likewise we will not conceal the origin of precious metals.
  • Supporting efforts and contribute to avoid and disclose money-laundering and financing of terrorism where we identify a reasonable risk of money-laundering and financing of terrorism resulting from, or connected to, the supply and distribution chain of precious metals.
  • Procure metals that are mined and produced without endangering the safety and health of people or damaging the environment.
  • Request that the metals have not been sourced from operations that will result in toxic chemical contamination into soil, surface water, groundwater, or the environment.

For the full policy adopted by the board see here TMG.GOLDSUPPLYCHAINPRACTISES.01112020



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