The World Gold Council and the government of Ghana have signed a memorandum of understanding (MoU) to strengthen cooperation on the formalisation of artisanal and small-scale gold mining (ASGM), improve supply chain integrity and combat illicit finance and gold flows.

The agreement, signed through Ghana's Ministry of Lands and Natural Resources, aims to establish a national network of responsible gold processing plants to encourage artisanal miners to supply gold through formal channels.

Under the partnership, the parties will collaborate on policy and standards development, capacity building, traceability and origin verification technologies, as well as training and educational initiatives for artisanal mining communities.

As an initial step, the Council has committed a $250 000 development grant to support cooperative registration under Ghana's responsible cooperative mining and skills development - or rCOMSDEP - programme.

The partners state that the MoU is intended to support responsible ASGM development, strengthen environmental protection, improve community wellbeing and enhance the integrity of the gold market.

Ghana Lands and Natural Resources Minister Emmanuel Armah Kofi Buah says the partnership will support the country's efforts to transform the ASGM sector into a responsible, well-regulated and economically empowering industry.

"By working with the World Gold Council, we are strengthening our efforts to improve the formalisation of ASGM, eliminate harmful practices and ensure that the benefits of Ghana's gold resources are realised by our communities and our nation as a whole," he said.

World Gold Council CEO David Tait says Ghana has demonstrated leadership in addressing the challenges and opportunities associated with artisanal and small-scale mining.

"This MoU provides a strong platform for collaboration, bringing together government leadership, international standards and industry expertise to help build a trusted, transparent and responsible ASGM value chain that works for miners, communities and markets alike," he comments.