WGC Launches Conflict Gold Initiative

Author: Philip Burgert, Resource Investor, Published on: 17 June 2011

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…

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