Page 22 - Bullion World Volume 3 Issue 3 March 2023

World Gold Council Panel- Gold to finances for miners. The panel
and ESG encouraged miners to view their
operations as a platform for creating
The world Gold Council mining a more eco-friendly and prosperous
In Daba panel 2023 focused on environment.
how gold mining companies can
best navigate the changes in Key facts presented include -
the industry. The discussion was 1. Global gold demand in 2022
focused on topics such as the was 4,334 tonnes, an increase
importance of sustainability and ESG of 5% Y-O-Y.
considerations, progress made in 2. Exchange-traded funds and
improving the safety and well-being similar products saw inflows of
of the industry, the need to embrace 596 tonnes in 2022.
new technology, and the importance 3. Central banks purchased 615
of innovation and collaboration. tonnes of gold in 2022.
4. Total jewellery demand was
The panel also featured the 2,273 tonnes, an increase of 4%
need to create a culture of trust Y-O-Y
between the miners, governments, 5. Total bar and coin demand was
and communities, to ensure the 1,061 tonnes in 2022.
Mr John Reade sustainability of the industry. The 6. Global mine production was
Chief Market Strategist, WGC highlight of the presentation was 3,547 tonnes in 2022, an
on the importance of investing in increase of 2% Y-O-Y.
human capital and ensuring access

Summary on the ASM
formalisation at the Mining
Indaba 2023.-

The ASM formalization presentation
was mainly based on the benefits of
formalising artisanal and small-scale
mining (ASM) operations.

The presentation highlighted the
potential of ASM to create jobs and
stimulate economic growth, while
also protecting the environment and Ms Estelle Levin-Nally Ms Rachel Perks
promoting local value-creation.
employed under ASM is about 8.5% leaving the workers without access
ASM is the second largest employer of the total global mining workforce. to safety equipment and training and
in the African mining sector, with lack of access to basic rights and
over 15 million people working The presentation also stated the entitlements.
there. Formalising ASM operations need for the ASM sector to address
ensure the sector is properly the environmental impacts o The presentation also spoke about
regulated and accurately protects artisanal and small-scale mining, the benefits of regulating this sector
workers’ concerns. The global which mainly includes air and by increasing safety and efficiency
ASM sector produced over $400 water pollution, soil erosion and measures, improving the access
billion in minerals, including gold. It degradation, and the risk posed to finance, and helping small-scale
was estimated that over 40 million by mercury and cyanide in gold miners access new technology and
people were employed in the ASM extraction. tap into unexplored markets.
sector in 2022, which makes up a Source- Miningindaba.com, Company
large proportion of the global mining The speaker also expressed that the websites and Open source
workforce. The total workforce ASM sector is mostly unregulated,