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World Gold Council adopts disclosure framework for miners refining partners
The guidance asks doré producers to publish an annual list linking each operating mine to its refining partners and countries, building on a September 2023 commitment.
The World Gold Council is urging gold miners to identify the refiners receiving metal from each operating mine under a new disclosure framework aimed at making legitimate gold flows easier to distinguish from illicit trade, Mining.com reports.
Under the guidance, companies producing doré, the partly refined gold-and-silver bars poured at mine sites, should publish an annual list linking each mine to its refining partners and their countries, according to the Council’s new disclosure recommendations.
Mining.com says the Council framed the step as a way to give downstream partners, investors, regulators, and other stakeholders more confidence in market integrity, while making it harder for opaque practices to hide within the complexity of the supply chain.
The latest framework follows a September 2023 commitment by Council members to disclose their refining partners, and it sets a common reporting format with exclusions for commercial and security information, the outlet adds.
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