Tracking, Certifying and Verifying Gold

Brazilian gold aggregator Fênix DTVM, in partnership with company Minespider, has completed their first phase of a gold traceability project in Brazil. The two companies have integrated traceability in gold sourcing and processing activities, delivering the first fully traced gold bar to one of Fênix’s clients.

The milestone comes as Brazil’s government increases efforts to crack down on illegal gold mining in the Amazon, through legislation requiring electronic tax receipts for buying and selling the precious metal (see CMN June 2023).

Minespider claims that its traceability platform is an industry leader for mining and raw materials tracking. Based on blockchain technology, the platform creates digital product passports that include the provenance of products and minerals, along with metrics on ESG, carbon emissions and compliance throughout their lifecycle.