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FAIRTRADE AND FAIRMINED GOLD - The Fairtrade Foundation

FAIRTRADE AND FAIRMINED GOLD - The Fairtrade Foundation

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<strong>GOLD</strong> FACTS<br />

• 100 million people worldwide depend on artisanal and small-scale<br />

mining for survival. 1<br />

• <strong>The</strong>re are around 15 million artisanal and small-scale gold miners<br />

globally, producing some 200-300 tonnes of gold. 2<br />

• Artisanal and small-scale miners account for 10% of the global gold<br />

supply and 90% of the labour force in gold extraction. 3<br />

• Artisanal and small-scale miners are characterised by high levels<br />

of poverty.<br />

• In 2009, 2,575 tonnes of gold were extracted from the earth, which<br />

accounts for 60% of the world’s total gold supply. 1,759 tonnes were<br />

used to make jewellery. 4<br />

• Around 50% of the global demand for gold is for jewellery. 5<br />

• In 2010, $137.5bn (£92bn) was spent on gold jewellery globally. 6<br />

• <strong>The</strong> internationally agreed price of gold is set twice a day by traders<br />

in the City of London.<br />

• <strong>The</strong> price of gold has risen from US$320 in 1999 to over US$1,400 per<br />

ounce in 2010. 7<br />

• For <strong>Fairtrade</strong> and Fairmined gold, miners receive a <strong>Fairtrade</strong><br />

premium of 10% on top of the guaranteed minimum price, which can<br />

be used to invest in their community or business improvement.<br />

• For <strong>Fairtrade</strong> and Fairmined Ecological Gold that has been produced<br />

without the use of chemicals, miners get an extra 5% on top of the<br />

10% <strong>Fairtrade</strong> premium.<br />

ACKNOWLEDGEMENTS<br />

This briefing has been written by Sonya Maldar, and was commissioned by the <strong>Fairtrade</strong> <strong>Foundation</strong> and the<br />

Alliance for Responsible Mining. It has been edited by Gemma Cartwright on behalf of the <strong>Fairtrade</strong> <strong>Foundation</strong> and<br />

Cristina Echavarria for ARM. We would also like to thank the mining organisations who contributed to this briefing.<br />

Photography credits: Eduardo Martino, Ronald de Homell, Samira Pecce, Felix Hruschka<br />

www.fairgold.org<br />

www.fairtrade.org.uk/gold<br />

www.communitymining.org

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