World Gold Council (WGC) and TSX-listed artisanal gold ore processor Dynacor have signed a memorandum of understanding (MoU) to collaborate on efforts to formalise the artisanal and small-scale gold mining sector.

The partners aim to expand opportunities for responsibly produced gold to enter formal supply chains worldwide.

Dynacor brings to the partnership extensive experience in sourcing and processing gold ore from artisanal miners, while WGC has expertise in standards development, best practices and gold market infrastructure.

Together, the organisations will explore ways to strengthen transparency, improve environmental and social outcomes and reduce illicit involvement in the artisanal and small-scale gold mining sector.

WGC already has a Gold Processing Initiative in place, which is a model designed to accelerate this formalisation through origin verification technology, centralised gold processing plants and increased participation by responsible buyers. The initiative aims to improve gold recovery rates, create greater supply chain visibility, reduce mercury use, and help miners access better market opportunities.

Under the MoU, WGC and Dynacor intend to work with industry stakeholders, governments, international organisations, investors, nonprofit organisations and standard-setting bodies to develop a set of best-practice principles for gold processing plants and support the creation of a globally recognized standard for processing plant operations.

The proposed principles would address topics including miner due diligence, traceability requirements, environmental and occupational health and safety performance, anti-money laundering compliance, reporting, assurance, and responsible sourcing practices.

For WGC CEO David Tait, the collaboration with Dynacor represents an important step toward creating a scalable and practical pathway for formalising artisanal and small-scale gold mining. "By combining responsible processing infrastructure, robust standards, traceability, and greater market access, we have an opportunity to support miners, strengthen supply chain integrity, and build a more transparent and inclusive gold ecosystem that can be replicated across many countries.”

In turn, Dynacor president and CEO Daniel Misiano says the MoU reflects the company's commitment to achieving a globally responsible artisanal and small-scale gold mining and processing business by fostering greater opportunities for legitimate production to enter the formal supply chain. 

“As we embark on our international expansion, the agreement highlights the growing institutional support for our business model and reaffirms our ability to unlock long-term growth through close collaboration with a wide range of stakeholders," Misiano concludes.

Dynacor has since 1996 pioneered a responsible mineral supply chain with stringent traceability and audit standards for the fast-growing artisanal mining industry. Dynacor operates the Veta Dorada plant in Peru, as well as a pilot plant producing gold in Senegal.