Gold council urges miners to name refiners

AI desk brief

The World Gold Council has issued new guidance urging miners to disclose which refiners receive doré from each operating mine, with annual mine-to-refiner reporting intended to make legitimate gold flows easier to distinguish from illicit trade. The framework applies to doré-producing operations and asks members to name each mine, its state/country, the refiner and the refiner’s country, while allowing exclusions for sensitive commercial and security information.

The move follows earlier council commitments and comes amid heightened scrutiny of Latin American gold flows into North American supply chains, including cases involving the Royal Canadian Mint and Venezuelan doré storage disputes. For the desk, the main market read-through is not immediate price direction but a further push toward provenance transparency across the gold supply chain, which could improve confidence in sourcing and increase pressure on opaque flows and refiners.