World Gold Council announced commitment to enhanced transparency in gold supply chain

The World Gold Council has announced its commitment to enhanced transparency in the gold supply chain. All of the organisations members have committed to publishing the names and locations of their refining partners on at least an annual basis.

“I am delighted that our members have committed to lead the way in transparency,” said the World Gold Council’s CEO David Tait, the Gem and Jewellery Export Promotion Council reported on its website. “Pursuing enhanced supply chain transparency is good for the companies who produce, the communities who benefit from employment, training and skills, and investors and consumers, who can be assured their gold has been responsibly produced and responsibly traded.”
 
The World Gold Council’s 33 members also committed to joining the Gold Bar Integrity platform. This will see them confidentially supply core data on the gold produced to their refining partners in order to promote the digitisation of gold across the supply chain. 

After the World Gold Council’s member businesses committed to these initiatives, the industry body has moved on to defining the implementation period. “The responsible gold mining industry should be rightly proud of the positive impact they have on the communities and countries where gold is mined,” said Tait.