The Dodd-Frank Act has changed how the refining of precious metals is overseen, and Advanced Chemical has acted in accordance with the law. In fact, we welcomed this change so that metals are bought and sold ethically, legitimately and legally.
To meet this challenge, we have implemented a Conflict Metal Policy and a training program for our employees. We will continue to work hard in securing total compliance that adheres to these important rules and regulations.
But what does this mean for you?
For example, if you are interested in refining gold with Advanced Chemical, you will have to complete some extra paperwork. Completion of a Conflict Metals questionnaire will be needed to sell your gold in this new environment of transparency. New customers will need to complete these forms prior to receiving their settlement.
To view the Conflict Metal Form and a letter from Advanced Chemical, please click here for a downloadable version.
So why the change? In recent times, you may have seen news reports of precious stones in war zones — so called “blood diamonds.” These conflict diamonds have been sold and used to fund wartime conflicts and are obtained by abusing human rights, most notably in the Democratic Republic of the Congo.
Just as precious stones were used to fund wars, so too were precious metals. So now a crackdown on conflict precious metals has begun to match the curtailing of blood diamond sales. We hope that these measures will lead to a more peaceful situation in the Democratic Republic of the Congo and all areas of the world where conflict metals are used for harmful purposes.
At Advanced Chemical, we applaud the measures taken to stop war and fight human rights abuses. Recording proper documentation and following the law in our precious metals dealings are tasks that our team will continue to do — both now and into the future.
If you have any questions on how this new provision affects you and your plans to sell your gold, please contact Advanced Chemical. Our experts can walk you through filling out formwork or answer questions you may have. We take seriously our responsibilities in this matter, and we thank you for your understanding and willingness to help us comply with this important legal provision.