Jewelers want to buy pawned jewelry from Caixa – 02/01/2023 – Panel SA

Faced with the crisis caused by illegal mining that hit the Yanomami, the jewelry market rescued a project that had been parked since the pandemic.

The IBGM (Brazilian Institute of Gems and Precious Metals), which brings together chains such as H.Stern and Vivara, wants to resume with Caixa Econômica Federal a proposal to acquire jewels pawned by the bank and which are not sold at auctions. The idea is to encourage the supply of recyclable metals to jewelry stores.

According to Ecio Morais, executive director of the IBGM, Caixa has a large volume pawn operation and these jewels are stored, but the sector could benefit from the so-called old gold, which can be recycled later.

“The conversations were at an advanced stage. Now we want to resume negotiations with the new government. This is a circular economy and will benefit the entire jewelry sector,” said Morais.

Joana Cunha with Paulo Ricardo Martins and Diego Felix

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