World Gold Council publishes updated draft of "Conflict Free Gold Standard" - deadline for comments 30 Jun

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Article
29 March 2012

World Gold Council unveils latest draft of Conflict-Free Gold Standard

Author: World Gold Council

The World Gold Council, whose members comprise the world’s leading gold mining companies, today unveils its “Exposure Draft” of the Conflict-Free Gold Standard. The objective of the Standard is to create absolute trust that the gold produced under its guidelines neither fuels armed conflict, nor funds armed groups, nor contributes to human rights abuses associated with these conflicts…The “Exposure Draft”, issued today, allows for further comment from interested parties before the final version is published. Consequently, we are requesting further input from interested parties by 30th June 2012…

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Article
28 March 2012

[PDF] Conflict-Free Gold Standard Exposure Draft March 2012

Author: World Gold Council

The World Gold Council Conflict Free Gold Standard provides a mechanism by which gold producers can assess the risk that their operations may contribute to armed conflict and associated serious human rights abuses...[G]old producers who are in adherence with the Standard will: Publicly commit to respecting human rights…Respect human rights at their operations and in their dealings with stakeholders…[E]nsure mine security providers have not been involved…[in]financing…armed groups involved in serious human rights abuses or breaches of international humanitarian law…Put in place controls designed to prevent their operations, agents or mine security providers from bribing or providing illegal payments, or…providing equipment to third parties…involved in armed conflict…Publicly disclose payments made to governments…Establish processes through which the public may raise concerns about the mines’ operational activities…Utilise transportation services that are not involved…with financing…armed groups involved in, serious human rights abuses…Implement due diligence procedures to ensure that any third party miners that provide gold-containing materials to their operations also comply with the principles…[member companies are African Barrick, Agnico-Eagle Mines Limited, Alamos Gold Inc., AngloGold Ashanti, Barrick Gold Corporation, Buenaventura, Centerra Gold, Eldorado Gold Corporation, Franco-Nevada Corporation, Goldcorp Inc., Golden Star Resources Ltd., Gold Fields Limited, IAMGOLD Corporation, Kinross Gold Corporation, Newcrest Mining Limited, New Gold Inc., Newmont Mining Corporation, Primero Mining Corporation, Yamana Gold Inc.]

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Article
28 March 2012

[PDF] World Gold Council Conflict-Free Gold Standard: An Introduction

Author: World Gold Council

The Conflict-Free Gold Standard is designed to apply to World Gold Council members and other companies involved in the extraction of gold…The Standard takes the form of a decision tree split into five sections: Part A - Conflict Assessment…Part B - Company Assessment…Part C - Commodity Assessment…Part D - External Sources of Gold Assessment…[and] Part E – Statement of Conformance Documentation…While working to exclude illegitimate gold from the supply chain, it is critical that mining companies and the broader international community also recognise the important role that gold mining can play in protecting the interests of communities which are dependent upon legitimate gold production…

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