Brazilian police allege an Italian refiner purchased gold from a trader sourcing it illegally in the Amazon rainforest region, and corporate disclosures show that refiner has supplied the precious metal to four of the world's largest tech companies
name the private Italian firm Chimet as a source of some gold used in their products. Tech companies often use small amounts of the metal in circuit boards for consumer electronics.
Unregulated mines have destroyed rainforest land in the Amazon while polluting rivers with deadly mercury. Miners have clashed violently with indigenous tribes protecting their land, leaving a trail of death, disease and intimidation.Brazilian sustainability think tank Instituto Escolhas estimated that the country produced 84 tonnes of illegal gold in Bolsonaro's first two years in office, up 23% from the two years before and equivalent to nearly half of Brazil's total gold output.
A police document summarizing the investigation dated August 2021 states that Chimet allegedly bought 2.1 billion reais worth of gold from CHM between 2015 and 2020. Apple did not specifically address Chimet but said in a statement that its policies prohibit use of illegally mined minerals. Companies that cannot comply are removed from its supply chain, the iPhone maker said.Chimet said that, after learning of the CHM investigation in Brazil, it contracted accounting firm Deloitte to conduct an audit of its other suppliers and in April 2022 it was again certified by bullion market association LBMA as meeting responsible gold sourcing standards.
CHM said it did not buy gold as a financial instrument and that registration is not required to buy gold as a commodity.A 2020 analysis of relevant laws by federal prosecutors found that such registration is required for anyone other than miners to buy and sell gold, regardless of its usage.
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