World Gold Council opens consultation on the Exposure Draft of the Responsible Gold Mining Principles

The World Gold Council, the market development organisation for the gold industry, has today launched the Exposure Draft of its Responsible Gold Mining Principles. The Principles make up a new framework that sets out clear expectations for investors and downstream users as to what constitutes responsible gold mining. 

Working with its Members, the world’s leading gold mining companies, the World Gold Council has set out the Principles that it believes address the key environmental, social and governance issues for the gold mining sector. Issues covered include ethical conduct, safety and health, human rights, labour rights, working with communities, environmental stewardship, the use of water, energy and climate change, supply chain and transparency, engagement and accountability. As such, the Responsible Gold Mining Principles are intended to be a credible, comprehensive and widely-recognised framework through which gold mining companies can provide confidence that their gold has been produced responsibly.

The first draft of the Responsible Gold Mining Principles was issued for consultation in 2018. This Exposure Draft incorporates feedback from a broad range of stakeholders, including governments, civil society, supply chain participants and investors. The World Gold Council is now seeking further input before the final version is published.

Once it is finalised, implementing companies will be expected to disclose their conformance with the Responsible Gold Mining Principles, which will be externally assured. In order to support consistent assurance, the World Gold Council is also today releasing a draft Assurance Framework.

Terry Heymann, Chief Financial Officer of the World Gold Council said: “The Responsible Gold Mining Principles are intended to reinforce trust in gold and gold mining by allowing stakeholders to know, with confidence, how their gold has been produced. In releasing this Exposure Draft and the accompanying Assurance Framework, we are seeking further input to ensure that the Principles meet this goal and that stakeholders understand how credible independent assurance will be conducted.”

The consultation process for both the Responsible Gold Mining Principles and the accompanying Assurance Framework will run until 26 April and will seek input from a wide range of stakeholders. Feedback can be provided through an online survey or direct engagement.

The draft Principles, Assurance Framework and consultation questionnaire can be accessed here.

You can follow the World Gold Council on Twitter at @goldcouncil and Like on Facebook.

ENDS

For further information please contact:

Stephanie Mackrell
World Gold Council
T    +44 20 7826 4763
E    [email protected]    

Imogen Long
Edelman
T +44 203 047 2646
E [email protected]

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.