Due diligence in international gold trade: challenges and opportunities in Africa’s ASGM sector
Apr 26, 2023 | 12:30 PM - 2:00 PMPartner session - Room CC20
Apr 26, 2023 | 12:30 PM - 2:00 PM
Partner session - Room CC20
Description
Organised by: Pact Inc. (International NGO)
While the OECD DDG was developed with a focus on 3TG, after more than 10 years, evidence for widespread uptake for international gold trade remains limited, and appears to be hampered by a number of factors. This is particularly evident in Africa where the majority of Artisanal and Small-scale Gold Mining (ASGM) production leaves the continent through ‘informal’ channels. A significant recent development is the introduction of responsible sourcing regulations which directly target gold trade (e.g., EU Conflict Minerals Regulation 2017/821; UAE Good Delivery Standard for Gold, 2021) - which aim to ensure that due diligence requirements become enshrined in regulation and can thus be enforced. Pact is convening and moderating this panel discussion, which aims to highlight important perspectives from the private sector, with emphasis on active players in international gold trade – including African gold exporters, and international gold buyers based in UAE. The moderated discussion will shed light on new business models and potential solutions which could help to mitigate risks and challenges in Africa’s burgeoning ASGM sector.
