abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

17 Jun 2011

Author:
Philip Burgert, Resource Investor

WGC Launches Conflict Gold Initiative

The…World Gold Council [WGC]…ha[s] drafted framework standards designed to combat gold that enables, fuels or finances armed conflict…The “conflict free gold” and “chain of custody” standards include a framework for tracking conflict-free gold from the mine to the end of the refining process…[and] a framework for ensuring that where gold is mined in a conflict or high-risk zone the production or transportation does not finance or benefit armed groups…Officials said that while the current focus is on minerals as a factor in fuelling armed conflict is on the [Democratic Republic of Congo] and adjoining countries, the WGC standards address the situation for large-scale gold producers. They said the council is also working with the Organization for Economic Co-operation and Development…on global guidelines for the responsible sourcing of gold…