The London Bullion Market Association (LBMA), the self-regulatory body overseeing the world’s largest bullion market, is facing mounting pressure over gold sourced from the Pueblo Viejo mine in the Dominican Republic. Operated by Canadian mining company Barrick Gold since 2010, the mine has been the subject of formal complaints alleging environmental damage and human rights abuses.

Residents living near the Pueblo Viejo site claim that mining operations have polluted local water supplies, caused health problems affecting their families, and resulted in the failure of crops such as cacao, plantains, and various fruit trees. They further allege that resettlement offers made by Barrick have been insufficient compared to the fertile land and way of life they lost following the company’s takeover.

Rather than targeting Barrick directly through litigation, five community members, represented by law firm Mishcon de Reya, have brought their grievances to the LBMA. They assert that the regulator has a responsibility to ensure that gold traded on the London market is sourced ethically and from reputable suppliers. The claimants argue that if the LBMA cannot demonstrate it has appropriately addressed these concerns, they may pursue damages through the English courts. Additionally, their legal representatives note that several other affected residents are prepared to join any potential case.

The LBMA’s role does not extend to overseeing mining operations themselves. Instead, it certifies refiners through its Good Delivery List, permitting only those with verified ethical supply chains to trade on the London Bullion Market, where transactions average around £175 billion weekly. The association’s oversight focuses on the sourcing and refining process rather than the environmental or social practices at mining sites.

The complaints against Barrick include accusations of widespread environmental contamination, adverse health effects linked to toxic exposure, and reports of violent suppression of protests by local communities. Most of these allegations have been publicly documented by various sources.

Barrick Gold has denied all allegations of wrongdoing and, when approached for comment, referred to previous statements rejecting such claims. The controversy places scrutiny not only on Barrick’s operations in the Dominican Republic but also on the LBMA’s ability to enforce standards aimed at preventing unethical gold from entering the London market.