Chart: Which countries are falling behind in gold mine production
India tops the global ranking with demand nearly 50 times that of its mined supply.
Peru plans to formalize small-scale gold miners, mining minister Alessandra Herrera said on Tuesday, amid growing international pressure to shed light on the supply chain of the precious metal in South America’s top producer.
About 22% of Peru’s gold production comes from small-scale mining, Herrera said at an event organized in Lima by the nonprofit Swiss Better Gold Association.
Switzerland is the world’s top gold refiner and one of the top destinations of Peruvian gold.
“We have a clear commitment to support the process of formalizing (small-scale gold miners),” Herrera said at the event.
Small-scale gold mining in Peru often operates unlawfully or with little oversight, especially in the Amazon rainforest region.
“It is clear that the challeges around determining the legal provenance around small-scale mining is a reputational risk to mining activity,” Herrera said. But she added that small-scale gold miners should be seen “not as the enemy, but as allies.”
(By Marcelo Rochabrun and Marco Aquino; Editing by Paul Simao)
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