Firms track Congo gold with blockchain

Two companies are partnering to export conflict-free artisanal gold from the Democratic Republic of Congo using a blockchain-based platform.  

Society Artisanal, a company that works with artisanal mining cooperatives, has joined with Minespider, a technology company offering digital product passports to trace shipments and prove gold’s provenance.

In a media statement, the companies said that Society Artisanal will use Minespider’s platform to track gold from the mine to its smelting facility with further plans to extend its reach. The first blockchain-traced shipment are to be exported this month.

“Every mineral should have a passport and gold is no exception,” Nathan Williams, founder and CEO of Minespider, said in the release. “The DRC has been perceived as a conflict region for a long time, so many companies avoid sourcing minerals from the region.”

Improving standards

Kinshasa and Dallas-based Society Artisanal wants to develop professional mine management practices in the DRC. It’s working to improve mineral extraction methods and ensuring that all safety and health, environmental and sustainability norms are met in line with international regulation standards. These include the OECD Annex II Due Diligence Guidance, as well as guidelines established in United Stats and European Union law. 

According to Society Artisanal, its gold is only sourced from company-led mine sites with supervision by third-party due diligence organizations. The yellow metal is then smelted into branded ingot bars, stamped with a unique number and mine site ID. It’s prepared for export to L’Orfebre gold refinery in Andorra. 

“The situation is evolving thanks to organizations like Society Artisanal that drive sustainable mining practices together with local miners,” Williams said. The company ensures “that gold is conflict-free and produced in accordance with all international standards, including conflict-free regulations and the EU Critical Minerals Act,” he said.