The World Gold Council (WGC) and the Extractive Industries Transparency Initiative (EITI) have signed a three-year Memorandum of Understanding (MoU) to accelerate efforts to improve transparency, governance and formalisation in the artisanal and small-scale gold mining (ASGM) space. The partnership will address corruption, gold smuggling, and illicit financial flows while reducing environmental and social harms, and promoting economic development in gold-producing countries.
The agreement establishes a framework to strengthen ASGM governance, improve traceability and support the responsible integration of artisanal gold into formal global supply chains. The organisations will work together to support EITI implementing countries in advancing formalisation efforts and responsible sourcing initiatives.
The organisations will collaborate on publications, guidance documents, pilot projects, knowledgesharing initiatives and international convenings. Activities will focus on sharing lessons from ASGM formalisation and traceability initiatives and bringing together governments, industry, civil society, central banks and multilateral organisations to advance solutions for the sector. A key area of cooperation will be strengthening responsible gold supply chains through enhanced traceability and due diligence.
The partnership will cover global cooperation between the WGC and the EITI International Secretariat and also explore pilot programmes in selected countries. In-country efforts will build on national EITI implementation and multi-stakeholder groups and focus on strengthening transparency and traceability, improving governance frameworks, supporting responsible sourcing practices and addressing environmental and social risks associated with ASGM.
“For too long, the illicit gold trade has undermined national revenues, fueled corruption and left millions of artisanal miners without access to formal markets. By bringing together EITI’s expertise in transparency and governance with the World Gold Council’s work on traceability, responsible sourcing and ASGM formalisation, we can help create pathways that support miners, strengthen communities and build greater integrity across gold supply chains,” said David Tait, CEO, World Gold Council.
“Transparency is a critical tool in addressing the governance challenges facing artisanal and small-scale gold mining. Through this partnership, we will help countries strengthen data collection and oversight, improve accountability and develop practical approaches that support formalisation while reducing opportunities for corruption and illicit trade,” said Mark Robinson, Executive Director, EITI International Secretariat.
The MoU will remain in effect for an initial period of three years and reflects a shared commitment to advancing responsible and transparent ASGM practices worldwide. EITI and the WGC are also partners in the recently established Global Coalition for Action on ASGM