GOLD
Underground mining operations and material handling, where production and ore grades remain key inputs into supply expectations.
World Gold Council – bringing ASGM into the fold While the World Gold Council members represent a sizeable share of listed gold production mined in line with responsible mining principles and established regulations, around a fifth of the global supply still sits outside this framework. This remains a key concern for the council, which has launched several initiatives aimed at bringing informal producers into the mainstream, John Mulligan, Head of Sustainability Strategy at the World Gold Council, tells Modern Mining on the sidelines of Mining Indaba.
“O ur general estimate is that roughly 20% of global gold supply operates outside the formal market. That does not necessarily mean it is all illicit, but rather that much of it takes place in grey economies, where gold is both produced and traded outside formal investment and regulatory systems. Though it is important to recognise that some of this is criminal activity. Given recent price rises, we expect that share to have grown. We now have a dedicated research programme to better understand the scale of these flows, alongside work to determine what can be done about them.” The World Gold Council is exploring ways to encourage responsible actors in the ‘grey’ market to enter the formal supply chain, with much of the discussion centred on artisanal and smallscale
gold mining (ASGM). Explains Mulligan: “The reality is that ASGM involves structural challenges that extend well beyond any single company, or even the mining sector itself. These include extreme poverty, weak rule of law in some jurisdictions, and, in certain cases, the involvement of organised crime. There are therefore limits to what industry actors can achieve alone. That said, the World Gold Council has chosen to confront the issue directly. Together with a wide range of partners, we are exploring ways to incentivise responsible behaviour and build the infrastructure needed to support it.” A key element of this approach is building what the World Gold Council describes as a ‘coalition of the willing’. The Global Coalition
John Mulligan, Head of Sustainability Strategy at the World Gold Council.
10 MODERN MINING www.modernminingmagazine.co.za | May 2026
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