WGC, OMM partner to advance artisanal and small-scale gold mining

The World Gold Council (WGC) and OCIM Metals and Mining SA (OMM) have joined forces to advance the formalization of artisanal and small-scale gold mining (ASGM). This Memorandum of Understanding (MoU) signifies a collaboration that combines WGC's expertise in standards development and market infrastructure with OMM's operational experience in centralized processing plants.

The primary objective of this partnership is to enhance conditions in the ASGM sector, thereby reducing illicit activity and facilitating legitimate ASGM production to enter the global supply chain.

This agreement is particularly timely, given the rising concerns about illicit trade, mercury pollution, and unsafe labor practices in the mining industry. By working together, WGC and OMM aim to establish a global standard for ASGM processing plants. This standard will encompass due diligence, traceability, and environmental and safety performance.

In addition, the collaboration plans to develop blueprint frameworks that will guide policymakers, investors, and other stakeholders in establishing responsible processing infrastructure. The ultimate goal is to minimize the negative impacts associated with the ASGM sector.

Both organizations share a commitment to developing practical and scalable solutions that benefit miners, governments, and the industry as a whole. WGC's ASGM formalization plan focuses on three key areas: origin verification, centralized processing plants, and increased participation by legitimate buyers to curb illicit mining practices.

Meanwhile, OMM has already formalized partnerships with over 200 small-scale mining operations in Peru, with plans to produce 1,000 kg of gold by the end of the year. These facilities have the potential to produce 100,000 tons annually, enabling them to scale operations while maintaining full traceability and banking-grade compliance throughout the ASGM value chain.