MEMBER MINES
Environmental Protection
ITY
Ity has the longest history of any gold mine in Côte d’Ivoire and has produced more than 1.2 million ounces of gold in over 25 years of operations.
In 2021, Ity was awarded the Ivorian Mining Excellence Award for its environmental, social and governance initiatives.
Located in Zouan-Hounien, Ity is the first of Endeavour’s mines to receive SMO accreditation.
Community Welfare
YANFOLILA
The Yanfolila mine is situated in south eastern Mali in West Africa.
The mine has produced 400,000 ounces of gold since it was founded in December 2017 and has a current gold reserve profile of 593,000 ounces.
The Yanfolila mine is owned by Hummingbird Resources, a member of the World Gold Council (WGC).
join the club
SHOWCASE YOUR ESG LEADERSHIP
SMO member mines must adhere to the exacting standards of the World Gold Council Responsible Gold Mining Principles (RGMPs), Initiative for Responsible Mining Assurance (IRMA) or International Council on Mining and Metals (ICMM) principles.
SMO applies the ESG criteria through a multi-level evaluation process, combining objective factors and subjective judgement.
If you are a progressive miner, with excellent ESG credentials, we would like to hear from you.
BECOME A MEMBER MINE
MEMBERSHIP BRINGS BENEFITS
Benefit #1
PR & MARKETING
Through SMO, mining corporations are associated with prestigious jewellery houses, keen to increase their ESG credentials and obtain detailed provenance for their gold.
This can drive PR coverage for the mines in question, raising high profile awareness amongst potential investors, other jewellery houses, industry leaders, conscious consumers, and indeed other mines.
To date, SMO has appeared in high profile media titles such as the Financial Times, New York Times, Telegraph, Vanity Fair, Vogue & Times magazine as well as receiving media exposure for product placement, with SMO jewellery worn to the Met Gala 2023. To date, annual media value for mining partners has consistently exceeded £250k.
SMO member mines are also featured in social media campaigns across various platforms, raising profiles, visibility & demand for responsibly sourced gold.
Benefit #2
INTERNAL ENGAGEMENT
The external validation for exemplary mines is both rewarding & uplifting for internal stakeholders. On a global scale, the efforts of all are celebrated and seen as industry leading standards for others to emulate.
This recognition is a powerful tool in workforce retention & recruitment strategies, motivating teams to not only do their best but to do better together, and provides an attractive barometer for investors within the mining industry.
Benefit #3
ADVOCACY
SMO demonstrates how commercial mining, once carried out responsibly is a force for good.
The mining industry at-large has been a victim of poor press, with an over-emphasis on its negative environmental impact.
SMO can now represent those well managed progressive mining companies, making a difference, driving change and providing a benchmark for others to meet.
Through press articles, discussion panels, podcasts and social media, SMO highlights responsible mining practice and the beneficial impact their member mines have on the local communities, across social & environmental initiatives.
“Endeavour has had a robust ESG strategy in place for a long time and we have achieved the RGMP’s. Only when we joined SMO did we feel there was a vehicle that segregated our gold and officially recognised it as responsibly sourced all the way to the end consumer. This has had measurable positive impact on staff morale and our mission in general.“
- Laura Brangwin
Investor Relations, Endeavour Mining
Benefit #4
GOLD PREMIUMS
SMO member mines receive a premium for all segregated gold used in the watch and jewellery industry and for small-scale investment products. With demand for detailed provenance growing, adoption rates for SMO Gold are increasing and SMO have ambitious plans for the future.
The SMO Physical Gold ETC launched in April 2024. Mining partners supplying gold into this ETC will receive an ongoing annual royalty for gold held.
SMO can facilitate the production of physical investment products - coins & bars, bespoke to each member mine, and provide the trading platform to market these products. Such products are highly appealing to the conscious investor, stakeholders and employees.
Research & Evaluation
STRINGENT SELECTION CRITERIA
At Single Mine Origin (SMO), we are committed to driving positive change within the gold mining industry.
Our mission is to provide unparalleled transparency and accountability by guaranteeing the traceability of SMO Gold throughout the entire supply chain and refining process, which is why we created the SMO Gold mining ESG benchmark.
The SMO Benchmark is a pioneering initiative designed to systematically evaluate the sustainability credentials of gold mining operations. By collating and analysing disaggregated ESG (Environmental, Social, and Governance) data from mining companies’ annual reports, sustainability reports, and other publicly available sources, the SMO Benchmark offers ground-breaking insights into the gold industry’s responsible mining credentials.
IN-DEPTH ANALYSIS
RIGOROUS ASSESSMENT
Firstly, SMO evaluates mining companies at the corporate level using specific ESG factors, third-party research ratings, compliance with SMO governance metrics, and adherence to industry standards. Companies meeting high standards are recognised as “SMO Mining Companies”.
Secondly, SMO assesses each mine location of an SMO Approved Mining Company, considering mine performance against environmental and social benchmarks, application of ESG factors, and the determination of whether the mine operates in a heightened risk or conflict area. Mines in eligible locations can be onboarded as “SMO Approved Mines”, while those in conflict areas undergo enhanced due diligence.
The adaptive approach underscores SMO’s commitment to responsible mining practices, recognising the potential complexities faced by operations in conflict-affected regions.
