LONDON, Sept. 12, 2019 /PRNewswire/ -- The World Gold
Council, the market development organisation for the gold industry,
has today announced the launch of its Responsible Gold Mining
Principles.
The Principles are a framework that set out clear expectations
for consumers, investors and the downstream gold supply chain as to
what constitutes responsible gold mining. The World Gold Council,
working with its Members, the world's leading gold mining
companies, has set out the Principles that it believes address key
environmental, social and governance issues for the gold mining
sector.
It is the World Gold Council's aim that the Responsible Gold
Mining Principles will become a credible and widely recognised
framework through which gold mining companies can provide
confidence that their gold has been produced responsibly. The World
Gold Council recognises that environmental, social and governance
considerations are becoming increasingly important to
consumers.
The Responsible Gold Mining Principles are intended to recognise
and consolidate existing standards and instruments under a single
framework.
Companies implementing the Responsible Gold Mining Principles
will be required to obtain external assurance from a third party,
independent assurance provider. This will provide further
confidence to purchasers of gold that the gold they buy is
responsibly mined and sourced.
Gary Goldberg, CEO of Newmont
Goldcorp, who oversaw this initiative on behalf of the Board of the
World Gold Council, said: "Adherence to strong environmental,
social and governance principles should be a key part of any
responsible gold mining business and, as such, the Members of the
World Gold Council have collaborated, along with key industry
stakeholders, to develop the Responsible Gold Mining Principles.
Given the Members' sustained focus on improving environmental,
social and governance performance, the formalisation of the
Responsible Gold Mining Principles is a natural evolution of our
daily working practices. It is my hope that these Principles will
be widely adopted, not only by Member companies, but by the
industry more broadly."
Terry Heymann, Chief Financial
Officer of the World Gold Council, said: "It is our aim that the
Responsible Gold Mining Principles reinforce trust in gold and the
gold mining industry. Consumers, investors and the downstream gold
supply chain will be able to know, with confidence, that their gold
has been responsibly sourced. The Principles incorporate feedback
from more than 200 organisations and individuals over two rounds of
consultation and are designed to support the efficient operation of
the gold market."
The Principles can be accessed here.
You can follow the World Gold Council on
Twitter at @goldcouncil and Like
on Facebook.
Note to editors:
World Gold Council
The World Gold Council is the market development organisation
for the gold industry. Our purpose is to stimulate and sustain
demand for gold, provide industry leadership and be the global
authority on the gold market.
We develop gold-backed solutions, services and products, based
on authoritative market insight and we work with a range of
partners to put our ideas into action. As a result, we create
structural shifts in demand for gold across key market sectors. We
provide insights into the international gold markets, helping
people to understand the wealth preservation qualities of gold and
its role in meeting the social and environmental needs of
society.
The membership of the World Gold Council includes the world's
leading and most forward-thinking gold mining companies.
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