Soleil Metals completes its first fully traceable deliveries to Argor-Heraeus using aXedras’ xTrace(TM) technology
Soleil Metals, the Peruvian subsidiary of the OCIM Group, has recently delivered its first fully traceable gold bars to the Argor-Heraeus refinery in Mendrisio, Switzerland.
This from ore-to-refinery traceability was made possible using xTrace(TM) verification technology developed by aXedras. In practical terms, artisanal miners deliver ore to the Yacari and Victoria processing plants in Arequipa Region. There, the Soleil Metals team mesures the ore’s chemical signature with handheld spectrometer. The same process occurs at the end of the supply chain, where the team at Argor-Heraeus performs the same analysis. Matched against records is a dedicated database for each accredited mine, the measurements support the integrity of the supply chain, scientifically verifying that the refined metal originates from the declared source, and helping detect and deter fraud, including illegal mining, money laundering, and counterfeiting.
“Creating a truly responsible ASM value chain, on which our model is based, requires building trust between each link in the chain, from the mine to the end users. This innovation provides all commercial and institutional partners involved with the traceability essential to building this relationship of trust, while meeting the specific requirements of each of them”, explains Laurent Mathiot, Chairman and CEO of OCIM.
“This first-ever complete application of xTrace(TM) between OCIM/Soleil Metals in Peru and Argor-Heraeus in Switzerland gives full visibility into every supplier and sub-source. Such combined traceability over the entire supply chain is unprecedented and sets a new market benchmark for transparency and responsible sourcing in the ASM Sector”, declares Urs Röösli, CEO of aXedras.
“This key step towards achieving full end-to-end traceability strengthens our commitment to be responsibility leaders in the precious metals industry. Scientific verification on site, confirmed at the refinery, reduces typical ASM risks and enable gold from processing plants to enter the formal market with transparency for every counterparty. This approach limits unverified intermediation and channels tangible benefits to mining communities, while supporting sustainable practices that reduce mercury use”, explains Robin Kolvenbach, Co-CEO of Argor- Heraeus.
