Illegal Amazon gold seeps into supply chains

Author: Thu, 2022-01-13 23:56 SAO PAOLO: The medals were billed as the most sustainable ever produced. To match the festive spirit of South America’s first Olympics, officials from Brazil, the host country for the 2016 games in Rio de Janeiro, boasted that the medals hung around the necks of athletes on the winners’ podium were also a victory for the environment: The gold was produced free of mercury and the silver recycled from thrown away X-ray plates and mirrors. Five years on, the refiner that provided the gold for the medals, Marsam, is processing gold ultimately purchased by hundreds of well-known publicly traded US companies — among them Microsoft, Tesla, and Amazon — that are legally required to responsibly source metals in an industry long plagued by environmental and labor concerns. But a comprehensive review of public records found that the Sao Paulo-based company processes gold for, and shared ownership links to, an intermediary accused by Brazilian prosecutors of buying gold mined illegally on Indigenous lands and other areas deep in the Amazon rainforest. The AP previously reported in this series that the scale of prospecting for gold on Indigenous lands has exploded in recent years and involves carving illegal landing strips in the forest for unauthorized airplanes to ferry in heavy equipment, fuel, and backhoes to tear at the earth in search of the precious metal. Main category: WorldTags: BrazilGold Brazil’s digital Nubank raises $2.6bn in US IPO to become Latin America’s most valuable bankSoftBank-backed crypto firm in Brazil seeks Mexico acquisitions

Illegal Amazon gold seeps into supply chains
Author: Thu, 2022-01-13 23:56 SAO PAOLO: The medals were billed as the most sustainable ever produced. To match the festive spirit of South America’s first Olympics, officials from Brazil, the host country for the 2016 games in Rio de Janeiro, boasted that the medals hung around the necks of athletes on the winners’ podium were also a victory for the environment: The gold was produced free of mercury and the silver recycled from thrown away X-ray plates and mirrors. Five years on, the refiner that provided the gold for the medals, Marsam, is processing gold ultimately purchased by hundreds of well-known publicly traded US companies — among them Microsoft, Tesla, and Amazon — that are legally required to responsibly source metals in an industry long plagued by environmental and labor concerns. But a comprehensive review of public records found that the Sao Paulo-based company processes gold for, and shared ownership links to, an intermediary accused by Brazilian prosecutors of buying gold mined illegally on Indigenous lands and other areas deep in the Amazon rainforest. The AP previously reported in this series that the scale of prospecting for gold on Indigenous lands has exploded in recent years and involves carving illegal landing strips in the forest for unauthorized airplanes to ferry in heavy equipment, fuel, and backhoes to tear at the earth in search of the precious metal. Main category: WorldTags: BrazilGold Brazil’s digital Nubank raises $2.6bn in US IPO to become Latin America’s most valuable bankSoftBank-backed crypto firm in Brazil seeks Mexico acquisitions