Gold in society according to the WGC

 Contribution of gold in society according to the World Gold Council

 The gold industry has a global social and economic impact, although there are many points of view about the "true level of contribution" of this precious metal in the world, in this article we will summarize the main contributions that it has made gold in society according to the World Gold Council (WGC)

  World Gold Council

 According to the World Gold Council (WGC), the mining of this precious metal has contributed over the years to the socioeconomic development of different countries and organizations that work in gold extraction. Among the main examples of this type of contribution is the generation of jobs, investment in local communities and the tax revenue generated by said activity.

 The gold industry collaborates significantly with the UN in the development of various sustainable goals, meets different needs of society and is recognized as a source of financial security, as well as being essential for many applications and practical uses, among which include electronics, medicine, glass industry among others.

  Gold in the economic development of society

 Gold mining and extraction are economic engines of great importance for various countries. If the mining activity is responsible and transparent (as recommended by the rules for responsible mining mentioned above) it contributes significantly to the development and economic growth of society, creating direct and indirect jobs, in addition to generating business opportunities in the mining industry. local population.

 Gold generates direct foreign investment and contributes tax revenues for gold-owning countries. Mining companies usually operate remotely, making large investments in infrastructure and public services, in addition to meeting the needs of a gold mine through different works such as the construction of roads, housing, electricity and water supplies, etc. which is beneficial in the long term, both for companies and for local communities.

  Integration of miners in society

 Miners generally work in partnership with local governments, NGOs and communities in the country they operate in, as well as contributing directly (and indirectly) to the local economy. Similarly, mining companies have different commercial and ethical incentives that aim to improve health and education in the area of ​​operations, strengthening social infrastructure, through the creation and support of schools, hospitals, universities and creating improvements for the welfare of the local population.

 It is also important to highlight the contribution of the gold mining industry during the pandemic, providing medical assistance to its workforce, its family environment and the surrounding communities.

  The principles of mining responsibility

 The World Gold Council invites all its members to respect the principles of mining responsibility and, in particular, to promote respect for human rights and the environment. These principles adopt certain commitments in a non-binding manner and establish rules on equitable governance, the human rights of workers, as well as promoting respect for and protection of the environment.

 The companies that adopt these principles commit to fight against corruption, respect the human rights of their workers, and respect the rights of the communities affected by extractive activity, in addition to offering guarantees in the protection of the ecosystem affected by mining activity.

 For more information on the contribution of gold in society, you can visit the official website of the World Gold Council at the following link today gold rate in Dubai.