World Gold Council Issued New Refinery Disclosure Rules
Gold producers face new guidance to report mine-to-refiner links to help operators clarify supply chain origins.
Updated on Oct. 10, 2026 in Oil and Gas
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The World Gold Council has released a voluntary disclosure framework requiring gold miners to publish an annual list linking specific mines to their designated refiners and countries. This initiative aims to differentiate legitimate trade from illicit activity by providing greater transparency into the origins of global gold production.
Why it matters
The framework seeks to bolster market confidence by reducing the opacity of supply chain practices, making it easier for downstream businesses to identify the provenance of their gold assets. By implementing these standards, operators can better manage compliance risks and due diligence requirements when navigating increasingly complex precious metals markets.
The 2023 commitment covers 33 World Gold Council members, representing approximately 1,300 tonnes of annual gold production. While the guidance establishes a standardized reporting structure, it remains voluntary and does not require the disclosure of shipment weights or specific trade routes.
The players
World Gold Council
A London-based market development organization representing the world's leading gold mining companies.
Royal Canadian Mint
A Crown corporation responsible for the minting and distribution of Canada's circulation coins and precious metal refinery services.
Human Rights Watch
An international non-governmental organization that conducts research and advocacy on human rights, including supply chain accountability.
The details
Under the new guidance, participating miners must clearly map each mine to its corresponding state and country while identifying the receiving refiner and that refiner's location. This information can be integrated into existing corporate channels such as annual or sustainability reports. The framework excludes gold shipped as carbon fines, concentrate, or low-grade sweepings to prioritize standard bullion flows.
Timeline
September 2023: Council members committed to the refining partner disclosure pledge.
September 2025: Human Rights Watch submitted comments regarding disclosure changes.
April 2026: Royal Canadian Mint pledged to expand sourcing disclosures.
October 2026: World Gold Council announced the official adoption of the guidance.
Market Landscape
This framework aligns with ongoing shifts toward increased transparency in mineral supply chains, following the precedent set by the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals. It marks a departure from purely ad-hoc sourcing disclosures by establishing a unified reporting expectation for major global gold producers.
Businesses sourcing gold or precious metals should prepare for increased reporting transparency as major miners begin to adopt these disclosure standards in their sustainability filings. Owners should audit their current supplier lists against these new industry-standard disclosure metrics to ensure alignment with upstream partners.
The takeaway
The move toward standardized mine-to-refiner mapping signals that supply chain visibility is becoming a competitive necessity in the gold market. Operators should monitor the annual reports of their primary gold suppliers to track how these new disclosure standards are being integrated into public filings.
Further reading
For more information on commodity supply chain trends, see Oil and Gas.
Source note: This article includes information reported by The Northern Miner.
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