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World Gold Council Issues Conflict-Free Gold Standard

World Gold Council Issues Conflict-Free Gold Standard

The World Gold Council disclosed its “Exposure Draft” of the Conflict-Free Gold Standard, created to ensure that gold production is regulated and fair.

The standard highlights that gold produced must not fuel armed conflict or fund armed groups, nor contribute to human rights abuses. The council received recommendations from a variety of professionals including NGOs, governments, investors, media, and academics. Before the final version is published, WGC invites interested parties to comment on the draft prior to June 30.

“Responsible gold mining is an important contributor to both economic growth and social development in gold-producing countries,” Ian Telfer, chairman of the World Gold Council, said in a statement. “We believe that, where it is responsibly undertaken, gold mining and its related activities can play a crucial role in achieving sustainable development and alleviating poverty in developing countries as well as contributing to sustained economic growth in developed countries.”

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