en.Wedoany.com Reported - On August 10, the World Gold Council signed a memorandum of understanding with Canadian gold processing company Dynacor Group to collaborate on the formalization of artisanal and small-scale gold mining, promoting gold produced through compliant methods into the global formal supply chain. The memorandum serves as a cooperation framework, focusing on processing standards, supply chain traceability, and project financing.

The two parties will jointly support the World Gold Council's Gold Processing Initiative. This initiative is anchored on gold source verification technology, centralized gold processing plants, and the participation of compliant buyers, and plans to improve gold recovery rates and supply chain transparency while reducing mercury use in artisanal mining by standardizing ore procurement and processing procedures.

The cooperation also includes developing best practice principles for gold processing plants and promoting the formation of internationally recognized operating standards for processing facilities. The relevant standards are intended to cover miner due diligence, ore source traceability, environmental management, occupational health and safety, anti-money laundering compliance, information disclosure, third-party verification, and responsible sourcing.

The World Gold Council and Dynacor will also collaborate with governments, international organizations, investment institutions, non-governmental organizations, and standard-setting bodies to explore the construction of new processing plants in Africa, Latin America, and other regions with significant artisanal mining activity. The two parties plan to research international financing channels and attract private and institutional capital to participate in the construction of related processing facilities by clarifying project access and compliance requirements.

Dynacor primarily acquires gold-bearing ore supplied by formalized small-scale miners and produces gold through centralized processing. The company currently operates the Veta Dorada gold processing plant in Peru and is advancing business expansion in West Africa and Latin America. Its ore procurement system includes supplier vetting, source tracking, and processing audits.

The World Gold Council has recently been expanding the scope of cooperation under its Gold Processing Initiative. In July, the council signed a memorandum of cooperation on artisanal and small-scale mining with the government of Ghana, and on August 5, it established a cooperation framework with OCIM Metals and Mining, focusing on centralized processing facilities, supply chain traceability, and processing plant standards.