Enhancing Confidence in Gold Sourcing: Interoperability of Responsible Standards

An independent evaluation has affirmed a significant level of interoperability between the Responsible Gold Mining Principles and the Responsible Gold Guidance. The Responsible Gold Mining Principles (RGMPs) serve as a comprehensive framework defining responsible practices for gold miners, while the Responsible Gold Guidance (RGGs) outlines responsible sourcing expectations for refiners. Compliance with the RGMPs is mandatory for members of the gold mining initiative, and refiners accredited under the guidance are required to adhere to the RGGs.

Earlier in the year, an assessment was commissioned to examine how the RGG and RGMPs align and to evaluate the extent to which refiners on the Good Delivery List can depend on independent assurance reports confirming miners’ compliance with RGMPs, including the Conflict-Free Gold Standard (CFGS), to satisfy the ESG-related due diligence criteria outlined in the RGGs.

The analysis revealed that despite the distinct responsibilities assigned to each framework, there is a high level of interoperability in their objectives and requirements. Both standards are subject to similar independent assurance processes, instilling confidence in the validity of their results.

The review concluded that refiners could trust the independent assurance provided by gold miners regarding their compliance with the RGMPs and CFGS to address critical risks. These risks include widespread human rights violations, indirect support for illegitimate armed groups or security forces, bribery, tax non-compliance, and contributions to conflicts, as well as broader environmental, social, and governance (ESG) performance issues. By adhering to these extensive standards, refiners can enhance their risk assessment methods and reduce the potential negative impact of unethical practices in the gold supply chain.

The findings provide refiners with reassurance that gold sourced from compliant mines adheres to responsible and sustainable practices, aligning with international best practices. This is a significant advancement in the industry’s collective efforts to enhance transparency and foster trust in gold.

The evaluation's results are welcomed as they reflect a commitment to efficient and responsible practices that are foundational to both standards. The interoperability of these comprehensive frameworks, which function at different stages of the gold supply chain, bolsters market confidence and streamlines the compliance process for refiners, thereby minimising redundant efforts needed to adhere to the Responsible Gold Guidance.