WGC members take action to improve gold supply chain transparency
The World Gold Council (WGC) has announced that its members, which account for the majority of the world's large-scale gold miners, have committed to taking steps towards providing enhanced transparency in the gold supply chain.
All 33 WGC members with operating mines, which collectively produce about 1 300 t/y of gold, have committed to publishing the names and locations of their refining partners on at least a yearly basis, and to include all operations where the primary revenue comes from the production of gold.
They have also committed to joining the Gold Bar Integrity (GBI) platform and to supply, on a confidential basis, core data on the gold they have delivered to their refining partners.
This ensures gold enters the GBI platform at source and is a major step in the digitalisation of gold across the supply chain.
According to the WGC, this will provide the gold industry with a robust and verifiable ledger of responsibly mined gold, which will create significant opportunities for new product development and increase gold’s attractiveness as a trusted asset class for existing and new investors and customers.
“Pursuing enhanced supply chain transparency is good for the companies that produce gold; the communities that benefit from employment, training and skills; and investors and consumers, who can be assured their gold has been responsibly produced and responsibly traded,” WGC CEO David Tait said on September 19.
These measures have been taken to encourage further transparency in the global gold trade. With all WGC members currently committed to both these initiatives, the implementation period is now being defined.
The WGC encouraged all other gold miners to also make these commitments to enhance supply chain transparency.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...
VISIT SHOWROOM
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
