Gold is a key partner to design gold supply chain management and support Ministry of Mines in gold mining countries to form the supply chain of gold and related regulation. The major supply chain challenges in countries with gold mining and gold supply chain are supply of low-quality products, unreliable and skeptical lead times, inability of farms to maintain international standard, high transportation and violence by the local communities, fluctuation of international market prices etc. Energy, environmental aegis ascendant entities and other institutions should collaborate with mining firms to deal with environmental pollution and matters of inadequate compensation for the communities whose farm lands are eradicated due to mining to address insalubrious conflicts. Fortifying livelihoods of artisanal miners are additionally part of a responsible gold supply chain. Gold miners and refiners need to meet the standard to remain on the accredited list. Which is required to be accepted in the financial markets.
There is some guidance available from OECD, which need to be proactively and gradually implemented.
Adequate due diligence policy of OECD should be risk-based. PttBullion documents the jeopardy factors and document their decision making about risk factors. And accordingly choose due diligence choices.
Identifying, assessing, reporting, and mitigating risk factors can demonstrate and support plausible efforts. Constructive engagement with suppliers to progressively amend gold supply chain according to standards. It does not intend to provide 100% certainty on conflict free status.