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Human Rights Watch Report regarding Artisanal Mines Produce Gold with Child Labor

Neuchâtel, December 8th, 2011 – On December 6th, 2011, the Human Rights Watch published a Report concerning Child labor, Mercury and Artisanal Gold Mining in Mali (http://www.hrw.org/news/2011/12/06/mali-artisanal-mines-produce-gold-child-labor). Metalor is aware of this problem, touching particularly the artisanal gold mining sector. We have taken well note of this Report and its recommendations. We would like to point out that Metalor does not receive nor engage in business originating from Malian artisanal gold supplies.

We take this opportunity to refer readers to the company statement published on our website on February 8th, 2011 which specifies the policy and practice of Metalor Technologies SA to maintain high standards of ethical conduct, to comply with all applicable laws, and to do business only with persons who themselves abide by laws and ethical principles.

Accordingly and in particular, when dealing in precious metals, we operate only with transparency by all parties and with assurances of legitimacy in all transactions. In Switzerland Metalor is subject to the Precious Metals Control Act and the Money Laundering Act, and we apply the same principles, expressed through our compliance and ethics policy, throughout the world, wherever Metalor Technologies operates and does business. In January 2011, Metalor became the first certified Refiner, by the Responsible Jewellery Council, to have passed an audit which provides evidence of Metalor's responsible business practices in compliance with the Responsible Jewellery Council's Code of Practices.

Metalor proactively involves itself at the highest levels within the industries we serve to ensure that we maintain a global leadership role with respect ethical, human rights, social and environmental standards.

Metalor Technologies SA

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