World Gold Council: In an exciting development for the gold industry, the World Gold Council has announced a groundbreaking commitment from its members, who collectively represent the global large-scale gold mining sector. This initiative focuses on enhancing transparency within the gold supply chain, a move set to reshape the industry’s landscape.
All 33 of the World Gold Council’s member companies, responsible for producing approximately 1,300 tonnes of gold annually, have pledged to disclose the names and locations of their refining partners at least once a year. This disclosure encompasses all operations where gold production serves as the primary source of revenue.
Furthermore, these member organizations have also vowed to join the Gold Bar Integrity (GBI) platform. On a confidential basis, they will share “core data” regarding their gold production with their refining partners. This approach ensures that gold is integrated into the Gold Bar Integrity platform right at the source, marking a significant stride in digitizing gold throughout the supply chain. The result will be a reliable and verifiable ledger of responsibly mined gold.
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David Tait, the CEO of the World Gold Council, expressed his enthusiasm, stating, “I am delighted that our members have committed to lead the way in transparency. 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.”
These proactive measures are designed to encourage greater transparency in the global gold trade. All World Gold Council members are firmly committed to these initiatives, with the implementation period currently under definition. The World Gold Council strongly encourages all responsible gold miners to follow suit, committing to enhanced supply chain transparency and thereby fostering trust in responsibly sourced gold.
Here is the list of 32 World Gold Council Members listed on There website