Over the last quarter of a century, around 2000-2500 tons of gold has been mined every year. More than half of that gold goes towards the production of jewellery. It stands to reason that the jewellery industry is huge and a great deal of money changes hands between those sourcing and purchasing raw materials.
So where does this gold come from, and why exactly should we consider Fairtrade purchases?
The Sources of Gold
While you can find gold just about anywhere on the planet, some countries have far more resources than others. Among the top ten gold producing countries are China, Australia, Russia and the United States, yet there are also a number of developing countries on the list - South Africa, Uzbekistan, Mexico and Ghana among them.
Most of the gold that is mined every year is done so by massive corporations, but there are smaller independent miners that exist all over the globe. Just like with any industry, competing with the bigger firms can be tough. The Fairtrade movement was created to help those producers, on a global level - for a plethora of different products. It supports those all entities in developing countries who mine, procure and create product from highly competitive raw materials.
What Exactly Is Fairtrade?
Fairtrade a social movement whose aim is to help producers in developing countries achieve better trading conditions and to promote sustainability. The whole idea is that the small producers receive a fair price for the products they produce, as opposed to being priced out of the market by larger corporations. This extends beyond gold to a whole host of products produced by smaller independent sources such as bananas, tea, coffee and cocoa (click here for more info on Fairtrade rings).
Why should I care?
Yes, we’re all out for a bargain, paticularly given the tough economic climate we find ourselves in. Yet however tough things are for us, there are always people suffering beyond that we’ll ever have to endure. This is even more galling if we consider that some of these people are striving hard to better themselves, yet being exploited by Big Industry.
In reality, many of those who mine for gold are living in poverty. This dire situation is only worsened when we consider that mining can be dangerous. Often the demand for gold by large corporations will result in locals setting up new mines (for gold or diamonds) that are extremely unsafe. Whilst workers perish under extreme working conditions, resources are also depleted - with the revenue earned not being appropriately filtered back into the local economy. .
The sustainability aspect of Fairtrade precludes that producers of goods own 50% of the global Fairtrade system. This financially incentivises producers both large and small to pay workers a higher wage. This, in turn, renders higher productivity and money being pumped back into the economy where it is needed most: right at grass roots level.
Fairtrade jewellery
Why choose it? As much as you’d like to help, it’s more expensive, right?
Well, no.
The cost of adding diamonds to a wedding ring can be pricy, but you needn’t expect to pay more for Fairtrade stones. Yet when you buy from a Fairtrade supplier, you help to sustain a local economy where workers will receive a fair wage for the work they do.
By purchasing a Fairtrade engagement ring you are are helping others; not just those less fortunate than yourself, but those risking their lives to produce the same product. Not only this, but your ring is very likely to be a limited edition piece. Name a girl who won’t be bowled over by that sentiment.
