Fairalloy’s Fairmined certified gold and silver products determine their pricing by considering three crucial factors, which are meticulously analyzed and taken into account: 1. LBMA price, 2. Fairmined social contributions, and 3. Our premium.
- Regarding the cost per gram of gold: This particular expense is influenced by the international market dynamics of supply and demand, constituting a significant portion of our product’s overall value. We rely on the London P.M. fix as a reference point for our quotes. More information about how the price of gold is determined can be found here.
- Fairmined Fee: This fee serves as a social contribution extended to miners who opt to adhere to the Fairmined standard, ensuring the well-being of both their communities and the environment. A significant portion of this premium is allocated to social projects within their mining community. As mandated by Fairmined, $0.7 USD per gram is allocated to sustain the Fairmined initiative, while $4 USD per gram is directly wired to the miners.
- Fairalloy’s Premium: Our premium represents the percentage by which Fairmined gold surpasses the benchmark price of the LBMA spot price plus the Fairmined social contribution. This premium encompasses all the costs associated with producing and selling our Fairmined products, covering aspects such as wages, rent, maintenance, utilities, transport, taxes, and more.
At Fairalloy, our control is limited when it comes to the first two aspects. The LBMA price is dictated by market forces of supply and demand, while the Fairmined amount is standardized to promote adherence to principles safeguarding social and environmental well-being. Moving forward, we take charge of our premium, striving for competitiveness to extend benefits to our customers.
As direct manufacturers, we refrain from outsourcing precious metals refining or the production of alloys, wire, sheet, strips, and gold potassium cyanide. Producing our Fairmined-certified products in-house eliminates the requirement for extra logistics, allowing us to be mindful of the carbon footprint associated with unnecessary transportation and handling in the supply chain. All processes are carried out at a single location, aligning with Fairmined’s segregation principle to prevent contamination of Fairmined gold or silver by other untraceable sources.
We maintain coherence by exclusively processing 100% ASM-certified gold, making us the world’s first and only ASM gold refinery to refine and manufacture certified ASM gold products. We avoid processing recycled gold or gold from medium to large-scale mining operations, underscoring our dedication to responsible and sustainable practices.
Due to our decade-long commitment to meticulous optimization, we proudly provide the most competitive premiums for Fairmined certified gold and silver. This pricing optimization enables us to offer 100% traceable Fairmined certified gold prices with all of the fairmined fees included on par with Cookson Gold’s recycled gold. Our premiums are particularly favorable, being only 2-4% higher, including fairmined fees, compared to those of large-scale mining operations such as SMO Gold. Feel free to explore our pricing chart through the following link for more details.
Ensuring competitiveness extends beyond premiums alone; it’s equally vital in international shipping costs. Recognizing this, we have taken a significant step forward. As of 2024, we are thrilled to provide complimentary international shipping for the majority of our Fairmined-certified gold and silver products. For customers in the USA and Canada, this offer applies to orders of 30 grams and above for gold. For customers in Europe and Asia, the offer applies to orders of 100 grams and above for gold. To check if you qualify for free shipping, please visit the following link.
Acquiring Fairmined certified gold and silver through the FedEx network is a streamlined process, benefitting from fully automated customs procedures and clearances. Our satisfied clientele spans the globe, covering regions such as the UK, Europe, USA, Canada, and Singapore. Notably, Colombia’s free trade agreements guarantee zero tariff codes for these countries, enhancing the efficiency of international transactions.
For any additional information needed, feel free to contact us via email. Should you wish to delve deeper into your specific requirements, our team of experts is ready to arrange a meeting. Rest assured, our commitment extends throughout the entire process, ensuring your shipment reaches its intended destination securely. Experience the ultimate convenience in sourcing Fairmined certified gold and silver – a straightforward and hassle-free solution awaits you!