GOLD
Locally, several mines are investing in renewable energy to reduce both emissions and energy costs.
development of the Consolidated Mining Standard Initiative (CMSI), which aims to advance responsible mining practices across the global mining industry. The initiative, developed over roughly three years, is being advanced by four partners: the World Gold Council, the International Council on Mining and Metals, the Mining Association of Canada, and The Copper Mark. Following the conclusion of its second and final public consultation, CMSI has now reached a mature stage, with the partners aiming to launch the standard later this year. The next phase focuses on operationalising the governance model. The Copper Mark will act as the independent secretariat for the Consolidated Mining Standard, overseeing its administration, assurance framework and associated claims policy. An independent, multistakeholder board is being established, and a Chair has recently been announced, marking a key step towards full implementation. “This represents a significant step forward. The World Gold Council already has the Responsible Gold Mining Principles, but these apply specifically to gold producers. Many large mining companies currently report against multiple frameworks — including the Mining Association of Canada’s Towards Sustainable Mining standard, The Copper Mark, ICMM’s Mining Principles, and, for gold miners, the Responsible Gold Mining Principles. The CMSI has woven these frameworks into a single,
The general estimate is that roughly 20% of global gold supply operates outside the formal market.
purchase gold directly from artisanal miners. “We have developed, with partner institutions, what we call the London Principles, which set out guidelines that central banks could follow when sourcing gold from the artisanal sector. Alongside this, we are working to create a network of central banks that can support one another in implementing and advancing these principles. In effect, central banks could act as national focal points for promoting responsible sourcing within the artisanal gold sector,” says Mulligan. Advancing industrywide responsible mining practices In the formal mining sector, significant progress has been made through the
chemical signature. When that gold later arrives at a processing facility, it can be tested again to verify that it originates from an identified source. Mulligan notes that this verificationoforigin technology helps build confidence that gold entering the supply chain comes from its stated source. “We are currently exploring this approach through several pilot projects. Ultimately, the goal is to build an ecosystem that supports transparency and responsible sourcing across the supply chain.” Engaging central banks The World Gold Council is also exploring the potential of working through central banks in countries where ASGM production is significant. In some jurisdictions, central banks already
12 MODERN MINING www.modernminingmagazine.co.za | May 2026
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