Members of the World Gold Council (WGC) have committed to providing enhanced transparency within the gold supply chain.
The transparency will centre around publishing the names and locations of operating mine refining partners on at least an annual basis to include operations where the primary revenue comes from gold production.
All 33 WGC members who have operating mines have committed to the transparency plan.
“I am delighted that our members have committed to lead the way in transparency,” WGC chief executive officer David Tait said.
“Pursuing enhanced supply chain transparency is good for the companies who produce, the communities who benefit from employment, training and skills, and investors and consumers, who can be assured their gold has been responsibly produced and responsibly traded.
“The responsible gold mining industry should be rightly proud of the positive impact they have on the communities and countries where gold is mined.”
All members have committed to joining the Gold Bar Integrity (GBI) platform to supply core data on the gold produced to refining partners.
The GBI is a major step in the digitalisation of gold across the supply chain and will provide the gold industry with a ledger of responsibly mined gold.
It is hoped this ledger will create opportunities for new product development while increasing the attractiveness of gold as an asset.
