What are the responsible gold mining principles? The World Gold Council, which is the organization in charge of controlling the development and industrialization of gold worldwide, has announced the creation of responsible gold mining principles. These principles will become the regulatory framework that establishes clear rules for investors and consumers in general, as well as for all those who make up the gold supply chain, refining processes, and final sale. The objective of these principles is to make gold mining more transparent, responsible, and sustainable. They address key issues and problems in the gold mining and distribution process: environmental, social, and governance issues, which directly influence the gold mining sector.
Objectives of the principles
The objective of the World Gold Council in establishing these responsible gold mining principles is for mining to become a credible, transparent, recognized and sustainable activity, through which companies dedicated to gold mining can build trust with their clients, ensuring that the gold that is traded has been produced responsibly. These principles were launched in 2019 under the name Responsible Gold Mining Principles. Before the development of these principles, there was no coherent unified legal framework that addressed all the aspects that responsible mining should cover. Currently, compliance with these principles is a membership requirement for all members of the World Gold Council.
Key points in the gold mining regulations
• Ethical conduct that guarantees that the business will be carried out away from any act of corruption.
• understanding of the impacts and responsibilities regarding the activity investors carry out.
• Ensuring an ethical and responsible supply chain as an essential condition to be part of the organization.
It is important to note that the responsible gold mining principles have the fundamental purpose of recognizing and consolidating existing standards and instruments under a single regulatory framework. If you want more information about buying gold from Africa, you can contact us using the contact form below.
