WGC, OCIM Collaborate to Formalize Artisanal Gold Mining
Gold | 2026-08-06 10:37:28 | By Paul Ploumis
Together, the organizations aim to promote ASGM formalization, enhance supply chain transparency, reduce illegal activities, and expand market access for responsible gold producers.
SEATTLE (Scrap Monster): The World Gold Council (WGC) and OCIM Metals and Mining SA (OMM) have signed a Memorandum of Understanding (MoU) to strengthen responsible practices in the artisanal and small-scale gold mining (ASGM) sector. The MoU also calls for improved integration of responsibly produced gold into formal global supply chains.
The partnership combines the WGC's expertise in industry standards and gold market development with OMM's experience in operating centralized gold processing plants. Together, the organizations aim to promote ASGM formalization, enhance supply chain transparency, reduce illegal activities, and expand market access for responsible gold producers.
Under the agreement, the partners will also work on developing internationally recognized standards for ASGM processing plants and supporting pilot projects under the WGC's Gold Processing Initiative (GPI).
OMM has already formalized more than 200 small-scale mining partners through a due diligence process. Its subsidiary company, Soleil Metals, operates two processing plants in Peru. The facilities, having processing capacity of up to 100,000 tonnes of ore per annum, are expected to produce nearly 1,000 kilograms of gold by the end of the current year.
As per rough estimates, artisanal and small-scale mining provides livelihoods for more than 20 million people worldwide, but much of the sector operates outside established regulatory frameworks.
YOU MAY ALSO BE INTERESTED IN:
London Market Bullion Association to Launch Task Force to Bolster Artisanal Gold