Partnership with World Bank, World Gold Council to Improve Safety, Environmental Standards, Curb Illicit Gold Trading
ABIDJAN, July 11, 2025 - Facing significant losses from illicit gold trade and seeking to formalize a vital, yet often dangerous sector, Côte d'Ivoire has joined forces with the World Bank and the World Gold Council in an ambitious partnership to transform its small-scale mining. The agreement signed today seeks to improve safety and transparency in an industry that supports half a million livelihoods but has long struggled with poor regulation, environmental harm, and widespread smuggling.
The new initiative-the Multistakeholder Partnership for Sustainable and Responsible Small-Scale Mining (MSPI)-includes key industry players such as Endeavor Mining, Perseus Mining, and the Chamber of Mines of Côte d'Ivoire. It represents a concerted effort to shift artisanal and small-scale gold production into a regulated, traceable market.
"Côte d'Ivoire is leading the way in transforming artisanal and small-scale mining into a more professional, regulated sector," said Mamadou Sangafowa-Coulibaly, the Minister of Mines, Petroleum, and Energy of Côte d'Ivoire. He emphasized that the partnership was a "crucial step" in making small-scale mining "safer, more transparent, and a driver of development, growth, and job creation."
For years, Côte d'Ivoire's informal and unregulated gold sector has left miners and surrounding communities vulnerable to environmental degradation and social harms. In 2022 alone, an estimated 40 tons of gold - valued at more than $2 billion in 2022 prices - left the country illegally, a costly consequence of regional instability and limited enforcement capacity.
The new partnership aims to ensure gold produced by small-scale operations within Côte d'Ivoire is legally traded and traceable through the supply chain. It will improve cooperation among partners to improve mine sites, processing infrastructure, and market access. It also establishes a framework for stakeholders to strengthen governance and mitigate security risks associated with illicit gold flows. Key to that approach is fostering collaboration between large-scale industrial miners, like Endeavor Mining and Perseus Mining, and small-scale legal operators. This includes industrial operators providing training, helping small-scale miners adopt international environmental and social standards, and facilitating their access to legitimate gold trading markets.
"Artisanal mining holds enormous potential to add tremendous value to Côte d'Ivoire's economy and to lift people out of poverty-but only if it is made safe, legal, and sustainable," said Marie-Chantal Uwanyiligira, World Bank Division Director for Côte d'Ivoire, Benin, Guinea, and Togo. "This is a truly innovative mechanism for bringing together large mining companies and small artisanal miners, providing opportunities for additional domestic resources to support development and create decent jobs for youth and women".
The World Bank will support the government of Côte d'Ivoire in implementing international best practices for gold production. Meanwhile, the World Gold Council plans to work with industry players on the creation of model small-scale mines and improved supply chain infrastructure, and with assurance institutions, such as the London Bullion Market Association, to ensure that gold from these formalized model mines is legally traded and fully traceable.
Terry Heymann, Chief Strategy Officer of the World Gold Council, called the agreement "a groundbreaking and innovative approach" to responsible mining. "By fostering collaboration between industrial and artisanal miners, we can raise environmental and social standards, exclude illicit actors, and deliver shared benefits for governments, communities, miners, and the global gold market."
As countries across West Africa grapple with the risks and rewards of artisanal mining, Côte d'Ivoire's reform push could serve as a model for others seeking to formalize the sector while preserving the livelihoods it supports.
Barrick Mining Corporation, through its Tongon mine in Côte d'Ivoire, has played a key role in developing the initiative and supports efforts to improve regulation and standards in the country's artisanal and small-scale gold mining. However, Barrick is not taking part in the initiative due to ongoing negotiations for the sale of their Tongon mine but will encourage the new owner of the asset to participate.
