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World Gold Council, OMM seek to formalize artisanal gold mining
The MoU aims to create a global standard for ASGM processing plants, including due diligence, traceability, plus environmental and safety performance, as the sector faces pressure over illicit trade and mercury pollution.
The World Gold Council (WGC) and OCIM Metals and Mining SA (OMM) announced a memorandum of understanding to support the formalization of artisanal and small-scale gold mining (ASGM). The partnership is intended to improve conditions in the sector by reducing illicit activity and expanding opportunities for more legitimate ASGM output to feed into the formal global gold supply chain.
WGC said it will contribute expertise in standards development, best practices, and gold market infrastructure, while OMM will draw on operational experience managing centralized processing plants. The effort is framed amid growing scrutiny of illicit trade, mercury pollution, and unsafe labor practices in ASGM.
A key part of the plan is developing a global standard for ASGM processing plants that covers due diligence, traceability, and environmental and safety performance. The organizations also plan blueprint frameworks to guide policymakers, investors, and others on responsible processing infrastructure through WGC’s gold processing initiative, which includes piloting formalization models in host countries.
WGC added that its ASGM formalization approach focuses on origin verification, centralized processing plants, and stronger participation by legitimate buyers to combat illicit mining. OMM, for its part, has formalized partnerships with more than 200 small-scale mining operations in Peru, and expects them to produce 1,000 kg of gold by the end of this year.
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