Responsibly undertaken, gold mining and its associated activities can have a transformative effect on socio-economic development in countries where gold is found. When produced in conformance to high social, environmental and safety standards, gold provides employment opportunities, improved infrastructure and tax revenues. It can also drive foreign direct investment and generate foreign exchange. In 2012, the industry made an economic contribution of more than US$78 billion to the top 15 gold-mining economies.
Maximising the development potential of mining requires continuous attention and discussion. Transparency is critical – both around the operational activities and around the economics of gold mining.
Respect for local societies and human rights are of particular importance for responsible gold-mining companies. Many companies undertake their own social responsibility programmes, as well as sign up to international standards, such as the Voluntary Principles on Security and Human Rights.
Responsible mining also means addressing concerns that resources could fund unlawful activity, particularly when operating in areas affected by armed conflict, such as civil war or militia activity. The World Gold Council, working with our Members, developed the Conflict-Free Gold Standard, a common approach by which gold producers can assess and provide assurance that their gold has been extracted in a manner that does not cause, support or benefit unlawful armed conflict or contribute to serious human rights abuses or breaches of international humanitarian law.
Managing the environmental impact of operations is also a vital element of responsible mining. Responsible companies take great care in designing and following policies that preserve the local biodiversity and water quality.
The wellbeing of mine staff is also a leading concern of responsible gold-mining companies, who implement rigorous safety standards to complement national and international laws and guidelines.
The World Gold Council undertakes research to better understand the role that responsible mining plays in contributing to social and economic advancement. We are committed to supporting the gold mining industry in making a positive contribution to sustainable development.