Max Afriyie-Barwuah from DG International
The President of Non-Profit Group DG International, Max Afriyie-Barwuah has hinted of plans to roll out a progressive performance standard to support small-scale mines to improve their mining practices, reduce environmental degradation and access responsible gold markets globally.
Dubbed the Development Gold Ghana Performance Standard, the initiative has been successfully piloted with a small scale mine in the Ashanti Region resulting in the participation of the firm in the Domestic Gold Purchase Programme, commissioned by the Bank of Ghana.
The Development Gold Ghana Performance Standard also seeks to assure gold buyers, regulators, communities, and civil society that gold from its members’ small and medium-scale mines and traders is produced using best environmental, social and governance (ESG) practice.
Making a presentation on the topic “Building Sustainable Mines and Access to Responsible Gold Markets” at the 2024 Gold Statement Conference and Exhibition on Thursday (28 November) in Accra, Afriyie-Barwuah said the certification standard is still going through consultation with local and international industry stakeholders.
“The small-scale mining sector can become a positive driver for change since it represents almost 40% of production output and supports 6 million direct and indirect livelihoods. The question remains; how can we as a nation effectively link small-scale mining with other sectors of the economy and fully leverage our competitive advantage in gold? How do we avoid the “resource curse” associated with illegal, informal ASM mining activity?
“The purpose of the Development Gold Ghana Performance Standard is to assure gold buyers, regulators, communities, and civil society that gold from its members’ small and medium-scale mines and traders is produced using best environmental, social and governance (ESG) practice.”
“Development Gold Ghana’s Assurance Criteria have been designed to meet the expectations of the OECD Due Diligence for Responsible Mineral Supply Chains (OECD DD Guidance) and the London Bullion Market Association (LBMA) criteria. It is widely aligned with international standard frameworks, including the Swiss Better Gold Associations (SBGA) Sourcing Strategy as well as the World Bank’s OP / BP 4.12 Involuntary Resettlement Policies, the International Labour Organisation Guidance on Child Labour and the High Conservation Value Areas as defined by the HCV Network,” Afriyie-Barwuah said.
Watch Max Afriyie-Barwuah’s presentation in the video clip below:
Successful Piloting
DG International has conducted a successful pilot project with a mine in the Ashanti Region called Typhoon Greenfield Development Ltd.
The mine underwent a process of continuous improvement; implementing community development initiatives, improved environmental management and practising good governance in their activities.
The mine was able to demonstrate the provenance of their gold, traceability and build a chain of custody for segregated gold using a digital gold trading and inventory management app called MineTrace.
These systems have supported the mine to conform with LBMA ASM responsible sourcing requirements and be onboarded with a reputable Swiss-based LBMA-accredited refinery.
Most importantly, it has also allowed the pilot mine to participate in the Central Bank of Ghana’s Domestic Gold Purchase Program, enabling responsible small-scale mine production to be leveraged as bankable gold reserves i.e. ‘monetary gold’.
About the Conference
This years Gold Statement Conference and Exhibition was on the theme “Promoting Ghana Gold Jewellery with Special Emphasis on Lapidary and Gemstones of Ghana -A New Dimension.”
Ghana which is currently the number one gold producer in Africa has seen gold exploration slump over the past decade, limiting new projects and lowering output from big miners.
The country mined 4.03 million ounces of gold in 2023, driven largely by increased output from small-scale and artisanal miners.
Reporting by Fred Dzakpata in Accra
