Rio Grande shares your concern about Russian-mined gold entering the US supply chain. It has been Rio Grande’s long-standing practice to only buy gold from refineries that are on the London Bullion Market Association’s (LMBA) Good Delivery List. Rio Grande is reaching out to all of our precious metal and diamond sources to ensure that we are not supplied with any material of Russian origin, regardless of whether it was substantially transformed in another country.
We support our industry’s various initiatives to stop the flow of goods of Russian origin into our supply chains, and Richline Group has signed the Plumb Club Pledge. In addition, we feel it is important to be transparent about our specific approach. We have communicated our expectations to our suppliers and are requiring them to submit affidavits signed by officers or authorized representatives of supplier companies stating that they understand our requirements and will not provide Rio Grande with any precious metal or diamonds of Russian origin. We have chosen a path more stringent than what is required under the sanctions because we want our customers to be confident that they can trust us as a source.