At 4,740.8 tonnes, gold demand in 2022 was the highest in eleven years and one of the highest ever. As in previous years, about 25 per cent of that gold supply came from recycling and 75 per cent from mining. Even though the bulk of the mined gold is produced by large mining companies, some also originates from so-called ASGM (artisanal and small-scale gold mining). The Earthbeat Foundation, founded in 2013, has succeeded in closing three of these small-scale mines. Why this is good news:
ASGMs are often health and environmental hazards
Especially in emerging countries such as Uganda or Peru, small-scale gold mining is synonymous with self-exploitation and neglect of even the simplest safety precautions. Nor are child labour and human rights violations an exception. According to official estimates by the Earthbeat Foundation, around 25 million people worldwide work under such conditions. The environmental damage caused by illegal logging and the use of mercury is also significant.
Solution: offer alternatives and create favourable conditions
In addition to promoting and encouraging gold recycling, the Earthbeat Foundation considers one of its main tasks showing ASGM workers possible alternatives that offer good livelihoods without harming health or landscape. These include the Heartbeat Honey project, where “liquid gold” is produced in the form of honey, and Heartbeat Garden, which aims to repurpose degraded soil towards permaculture and biodynamic agriculture. In collaboration with other organisations and local partners, the required technical and financial knowledge is imparted directly on site and financial resources are made available. These are provided through donations by committed individuals and companies, among them Deutsche Börse Commodities, which raised funds for the Heartbeat Honey project through the GoldPhone Challenge.