World Gold Council partners to formalize artisanal gold mining

The World Gold Council (WGC) has entered into strategic partnerships to formalize the artisanal and small-scale gold mining (ASGM) sector. Through Memorandums of Understanding with Dynacor Group Inc. and OCIM Metals and Mining SA, the WGC aims to integrate responsible gold production into formal global supply chains.

The collaboration focuses on three primary pillars: implementing origin verification technology, utilizing centralized processing plants to improve recovery rates and transparency, and increasing the involvement of legitimate buyers to displace illicit actors. These initiatives are designed to improve environmental and social outcomes, such as reducing mercury contamination and improving labor conditions.

OCIM Metals and Mining SA utilizes centralized processing plants, including two in Peru, to convert artisanal ore into doré bars that meet institutional standards through documented due diligence. Similarly, the partnership with Dynacor Group Inc. seeks to combine WGC’s expertise in market standards with Dynacor’s experience in sourcing and processing ASGM ore to create a scalable model for formalization.