The World Jewellery Confederation (CIBJO) has proposed new definitions of recycled gold in the jewellery and watch trade for greater clarity and consistency. 

The definitions, which will be included in CIBJO guidance documents, cover recycled materials recovered during the manufacturing and fabrication process before being sold to consumers as well as gold recovered from materials after these have been sold to consumers. These were developed through extensive discussions among industry experts, noted the association. 

Designed to set stricter criteria for secondary and circular gold supplies, these definitions aim to improve identification of inputs and outputs in the gold refining and fabrication processes while promoting transparent and responsible sourcing.

According to CIBJO, the International Organization for Standardization (ISO) created a draft of the definition as part of a wider standard that ISO was developing for responsibly sourced gold.

“There has been growing confusion about the different names and labels for re-refined gold,” explained CIBJO President Gaetano Cavalieri. “The new definition provides a clear statement and set of criteria for recycled gold, which is more stringent than definitions for many other materials. The industry needs a clearer definition to avoid consumer confusion and greenwashing, and to enhance trading practices and supply chain transparency.”

Key industry bodies like the London Bullion Market Association (LBMA) and the World Gold Council (WGC) are considering how to incorporate the main elements of this definition into their guidance and responsible sourcing practices while the Responsible Jewellery Council (RJC) has already included a definition based on the same criteria in its updated Chain of Custody standard, revealed CIBJO.

CIBJO definitions

Recycled gold is defined as: Pre-consumer recycled gold; post-consumer recycled gold; or a mixture of both based on new CIBJO guidelines. In addition, recycled gold excludes gold in investment product form such as bullion bars and investment coins, unless that gold is entirely produced from pre-consumer/post-consumer recycled gold.

Pre-consumer recycled gold is gold obtained by refining materials generated during a manufacturing or fabrication process. This includes melted scraps, sweeps, solutions, wastewater treatments, as well as manufactured materials, products, components and alloys, which are no longer required, or which can no longer be used for their original purpose. Scraps and materials refined within the organisation that generated them can be qualified as pre-consumer recycled gold only if all the starting scraps and materials are already pre-consumer recycled gold.

Meanwhile, post-consumer recycled gold is gold obtained by refining products sourced from individuals, organisations or industrial facilities in their role as end-users of the products that are no longer required or desired or can no longer be used for their original purpose.

This includes jewellery products and components, electronic and industrial components, dental scrap, numismatic/collectable coins (but not investment coins), decorative products, plated materials/coatings, spent solutions, as well as returns of products by participants in the gold supply chain such as inventory from wholesalers and retailers.