Precious metals specialist and one of the UK’s oldest family-run businesses, Betts Group, has announced that it will use responsibly sourced gold in all of its manufactured products.
The company made the announcement that it will exclusively use ‘single mine origin’ (SMO) gold in marking its 260th anniversary, and will continue to do so thereafter.
Betts was formed in Birmingham’s Jewellery Quarter at the dawn of the industrial revolution, and now works with renowned names such as Boodles, Sheila Fleet and G. Collins & Sons.
It has been offering SMO gold since 2018, but has now committed to exclusive use of the more responsibly sourced metal.
Sourced from the Yanfolila gold mine in Mali, SMO certified gold provides an auditable chain of custody for the entire supply chain, with full segregation from mine to finished product.
SMO gold must adhere to a number of strict CSR guidelines and be mined in accordance with the World Gold Council’s Responsible Gold Mining Principles.
Betts Group managing director, Charlie Betts, said: “This is a very special milestone in our history. We’re incredibly proud to be the oldest surviving precious metal refining and dealing business in the UK.
“Although we have evolved into a much more diverse business with interests in investments and waste management, our core ethos of integrity and quality of service, and our focus on precious metal expertise remain the cornerstones of the Betts Group.
“The knowledge and skill we have developed over 260 years is unrivalled and we are continually exploring innovative and pioneering approaches to enhance our proposition to our customers.
“It’s hugely exciting to be at the forefront of creating fully traceable, responsibly-sourced gold and we believe it is a real ‘game changer’ for the trade.
“As consumers, we are increasingly concerned about the provenance of the products we buy but the vast majority of the gold used in the jewellery industry cannot be traced to a known source and consequently any potentially negative impacts of that metal cannot be known.
“We manufacture all our in-house gold products using SMO gold, giving customers peace of mind that their metal is from a known, responsible source with a proven track record of committed social and environmental responsibility.
“There are no administrative barriers to entry for jewellers or investors and with a plentiful supply, there is no pricing premium either.”