Editor’s Note
This dispatch from Soleil Metals marks a significant step for artisanal mining. By using blockchain technology to ensure full traceability of its gold from Peru to a Swiss refinery, the project sets a new benchmark for transparency and responsible sourcing in a sector often criticized for its opacity.
Soleil Metals, the Peruvian subsidiary of the OCIM Group, announced the completion of its first shipments of gold bars with complete traceability to the Argor-Heraeus refinery, located in Mendrisio, Switzerland. This milestone was made possible thanks to the xTrace™ technology developed by the Swiss firm aXedras, establishing a new standard in transparency and responsible sourcing for artisanal and small-scale mining (ASM).
With this step, the company aims to respond to the growing global demands for responsibility in the precious metals supply chain, in a context where international markets require greater control to avoid risks associated with illegal mining, money laundering, and counterfeiting.
According to industry estimates, over 20% of the world’s gold comes from ASM, making traceability a key factor for accessing formal markets and complying with international regulations such as OECD guidelines. Furthermore, the demand for gold is increasing and its price may continue to rise.
This milestone positions Peru as a key player in the transition towards more responsible artisanal mining, aligned with international standards and with the potential to attract investment in a global market, where the size of the precious metals market is expected to reach USD 386.16 million by 2030, according to Mordor Intelligence.
Regarding the impact this innovation will have on the industry and gold traceability, Urs Röösli, CEO of aXedras, commented:
In the same vein, with this innovation, Peru positions itself as a leader in responsible mining, aligned with global demands for ethical and sustainable sourcing.
