World Gold Council Heralds Gold's Critical Role in Socio-Economic Development

The decarbonisation of energy sources help in bringing cleaner power to local communities.

SEATTLE (Scrap Monster): The new report published by the World Gold Council (WGC) emphasizes on the key role played by gold in socio-economic development. The industry is a major contributor towards achieving the UN’s Sustainable Development Goals.

According to the report, responsible gold mining activities support sustained socio-economic development in communities and countries that host such operations. The mining activities contribute to jobs, tax revenue and investment in local communities. The vast business opportunities and creation of large number of employment to local people makes it a major contributor of economic growth, WGC noted.

The decarbonisation of energy sources help in bringing cleaner power to local communities. The gold mining companies often work with host governments, communities and non-governmental organizations towards improvement of health and education of the communities in which they operate. The investments in social infrastructure by gold miners have resulted in the well-being of local communities.

The WGC focuses on the critical role played by gold in supporting the needs of societies. In addition to being considered as a source of financial security, gold’s role has been critical to several technological and healthcare applications, said the leading market development organization for the gold industry.

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