The Royal Canadian Mint (RCM) has significantly enhanced its gold traceability by implementing a blockchain-based system, Bullion GENESIS, utilizing Distributed Ledger Technology (DLT). This technological advancement allows for end-to-end tracking of gold, from its origin at the mine to its final processing at the refinery, aiming to provide unparalleled transparency and provenance verification. The initiative, developed in collaboration with aXedras, aims to bolster trust and accountability within the precious metals supply chain.
The Bullion GENESIS system, powered by aXedras’ Bullion Integrity Ledger, records every step of a gold bar’s journey. This includes its transfer of custody and any transformation processes it undergoes, such as refining. Each gold bar will have a provenance record accessible to its owner, detailing its origin, which could be a specific mine, Canadian-mined gold, recycled gold, or a combination of sources. This integration of DLT allows investors, financial institutions, dealers, and fabricators to access secure, standardized, and digitalized information about the provenance and integrity of production standards related to their products.
Marie Lemay, President and CEO of the Royal Canadian Mint, stated that this innovation offers customers end-to-end sourcing transparency, complementing the industry-leading purity, quality, and security of the gold refined and produced by the Mint. Mines, recyclers, and other precious metal suppliers whose material is refined by the Mint will also benefit from business-to-business process enhancements, including seamless immutable data transfer and improved access to reports and audits.
This move towards enhanced traceability comes as a Canadian mining firm, Orla Mining, faces serious allegations regarding its operations at the Camino Rojo gold mine in Mexico. Workers at the mine have reportedly made complaints to the company’s ethics hotline alleging that local management was collaborating with a prominent organized crime group to displace the existing union. These allegations have drawn the attention of Mexican President Claudia Sheinbaum, whose security cabinet is reviewing claims that a faction of the Sinaloa cartel pressured workers to vote for management’s preferred union.
According to former union members, over a dozen workers contacted Orla Mining’s ethics hotline between July and December 2024 to report these alleged dealings. Despite receiving complaint reference numbers, workers claim there was no substantive follow-up from the company’s human resources department. These reports emerged during a contentious battle for union representation at the mine, which had previously been represented by the National Union of Workers for Mining, Metalworking and Similar (Mineros Union) since 2021.
Orla Mining, headquartered in Vancouver, disclosed in an August 2025 filing with the U.S. Securities and Exchange Commission that it was reviewing potential criminal activity at the Camino Rojo mine. The company stated it had notified the Royal Canadian Mounted Police (RCMP), as well as Mexican and U.S. authorities, regarding the matter. A labor panel established under the Canada-U.S.-Mexico Agreement (CUSMA) has determined that workers at Camino Rojo experienced a severe denial of labor rights due to threats and coercion leading up to a union representation vote in November 2024.
The CBC News investigation, which cited two former local union members, reported that management allegedly hired a member of the Operativa Flechas faction of the Sinaloa cartel on contract, who then threatened workers. While Orla Mining has not responded to detailed queries from CBC News, the company’s filings indicate an ongoing review of the allegations. The Camino Rojo mine is located in the municipality of Mazapil, in the state of Zacatecas, Mexico.
The Royal Canadian Mint‘s implementation of blockchain technology underscores a broader industry trend towards greater transparency and ethical sourcing. This technological adoption aims to provide an additional layer of assurance for customers and stakeholders, reinforcing the Mint‘s reputation as a leader in the precious metals industry. The contrast between the Mint‘s proactive technological embrace and the serious allegations facing a Canadian mining company in Mexico highlights the complex challenges and evolving demands for accountability in the global gold market.
Global Affairs Desk at The Chenab Times covers international developments, global diplomacy, and foreign policy issues through fact-based reporting, explainers, and analytical pieces. The desk focuses on major geopolitical events, diplomatic engagements, and international trends, with an emphasis on verified information, multiple perspectives, and contextual understanding of global affairs.