(Kitco News) – As the integration of blockchain technology with finance moves to tokenize the world’s assets, some of the world's largest gold refiners and dealers are looking to harness these new tools to improve their operations.
That includes Newmont Corporation, which has announced a new partnership with MKS PAMP to offer consumers a traceable gold bar exclusively made with Newmont-mined gold, refined and minted by MKS PAMP in Switzerland.
According to Newmont, the new mine-to-market traceable PAMP 1oz Lady of Liberty gold bar is available for purchase online and at select Costco locations in the U.S., “making owning gold an accessible option for wealth building.”
? Newmont and @MKSPAMP are making available to purchase a traceable #gold bar to U.S. consumers. Made exclusively with Newmont-mined gold, refined and minted by MKS PAMP, the 1 oz Lady of Liberty gold bar is now available online and at select Costco U.S. locations. Learn more ➡️… pic.twitter.com/Jpf9gNO0sf
— Newmont Corporation (@NewmontCorp) October 15, 2024
“The opportunity for Newmont gold to be accessible, direct to consumers, is a testament to our commitment to promoting gold as a prized commodity worth pursuing and owning,” said Peter Toth, Chief Development Officer at Newmont. “Our commitment to sustainable mining practices and sourcing transparency makes purchasing gold attainable for consumers – even while shopping for household goods.”
The traceability aspect of the Liberty gold bar is powered by Provenance, “a cutting-edge traceability solution that leverages the blockchain technology to track the global precious metal supply chain, from source to end product, guaranteeing responsible sourcing through a transparent approach,” Newmont said. “The Provenance solution permits our clients to pick and choose the origin and the type of metal they want to assure a sustainable supply chain.”
“The traceable 1oz Lady of Liberty gold bar leverages the established Provenance solution to give consumers greater assurance into the origin of their gold,” Newmont said in a press release. “The solution is pioneered by MKS PAMP and independently audited and certified, assuring complete segregation of the gold throughout the refining and minting process, guaranteeing transparency and full traceability of the gold.”
“Our joint collaboration on this project is a crucial steppingstone towards a more unified gold industry where we collectively work together to further strengthen consumer trust and uphold the integrity that drives the demand for responsibly sourced gold,” said Chris Carkner, Global Head of Minting at MKS PAMP.
Newmont said the PAMP 1oz Lady of Liberty uses “the most advanced techniques to reimagine this iconic and recognizable figure adorning the gold bar.”
Each 1oz bar is sealed within “a secured CertiPAMP packaging, which acts as a certificate of authenticity and quality excellence,” the release noted. The offering caps a “decade-long partnership between Newmont and MKS PAMP” and “underpins their common values and Unwavering sustainability commitments,” they said.
