LONDON (XOL Africa) — Ghana and the World Gold Council announced Tuesday a strategic partnership aimed at formalizing artisanal and small-scale gold mining, strengthening supply chain transparency and combating illicit finance and gold trading.
The memorandum of understanding was signed by the World Gold Council and Ghana’s Ministry of Lands and Natural Resources, establishing a framework for cooperation on responsible artisanal and small-scale gold mining, known as ASGM.
The partnership seeks to develop a national network of accessible and trusted processing plants that meet responsible sourcing standards while providing artisanal miners with incentives to channel their gold into the formal supply chain.
Under the agreement, Ghana and the World Gold Council plan to cooperate on policy and standards development, capacity building, traceability and origin verification technologies, as well as skills training and education for mining communities.
As an initial step, the World Gold Council has committed a $250,000 development grant to support cooperative registration under Ghana’s flagship rCOMSDEP program.
The initiative is intended to increase the participation of artisanal miners in the formal economy while improving environmental protection, community well-being and the integrity of the global gold market.
“This partnership reflects Ghana’s clear commitment to transforming artisanal and small-scale gold mining into a responsible, well-regulated and economically empowering sector,” said Emmanuel Armah Kofi Buah, Ghana’s minister for lands and natural resources.
“By working with the World Gold Council, we are strengthening our efforts to improve the formalisation of ASGM, eliminate harmful practices, and ensuring that the benefits of Ghana’s gold resources are realised by our communities and our nation as a whole,” Buah said.
World Gold Council CEO David Tait said Ghana’s position as a major gold producer and its efforts to address challenges in artisanal mining made the country an important partner for the initiative.
“Ghana is a global leader in gold production and has demonstrated real ambition in tackling the challenges and opportunities of artisanal and small-scale mining,” Tait said.
“This MoU provides a strong platform for collaboration, bringing together government leadership, international standards and industry expertise, to help build a trusted, transparent and responsible ASGM value chain that works for miners, communities and markets alike,” he said.
The partnership comes as Ghana seeks to improve oversight of its artisanal and small-scale mining sector, which provides livelihoods for many communities but has also faced concerns over illegal mining, environmental degradation and the movement of gold through informal channels.
The World Gold Council is the global authority on gold and works with gold mining companies, refiners, investors and other stakeholders to promote the responsible development and use of gold.
