WGC Urges Government To Classify Gold As Strategic Mineral

10 Aug 2026 CW Team

WGC argued that strategic mineral status would catalyse exploration and attract capital from both domestic and foreign organisations, supporting the growth of a regulated mining industry. The proposal highlighted potential gains in employment, ancillary manufacturing and local refining capacity, which in turn could lower import bills and bolster the trade balance. The council recommended targeted incentives, transparent frameworks and predictable tax regimes to make projects bankable and encourage responsible investment.

The submission addressed environmental and social governance and urged that policy design include rigorous standards for rehabilitation, water management and community engagement to avoid adverse impacts. It proposed enhanced geological surveys and a faster permitting mechanism to reduce lead times while maintaining oversight. The WGC also recommended capacity building for small and medium miners and closer coordination between central and state agencies to streamline approvals and improve enforcement.

The council framed the change as contributing to strategic resilience by expanding domestic supply chains for jewellery, technology and central bank reserves while creating export opportunities in processed gold products. It concluded that recognition as a strategic mineral would send a clear signal to markets and developers and called on authorities to consider measures to unlock value from the country's gold resources. Policy action was presented as timely and commercially pragmatic.

The World Gold Council (WGC) has urged the government to designate gold as a strategic mineral, arguing that such recognition would unlock domestic potential and reduce reliance on imports. The council submitted proposals to policy makers emphasising that formal status would provide clarity for investors and signal a long term commitment to developing a sustainable gold sector. It indicated that strategic status could better align exploration, mining and processing with national priorities. WGC argued that strategic mineral status would catalyse exploration and attract capital from both domestic and foreign organisations, supporting the growth of a regulated mining industry. The proposal highlighted potential gains in employment, ancillary manufacturing and local refining capacity, which in turn could lower import bills and bolster the trade balance. The council recommended targeted incentives, transparent frameworks and predictable tax regimes to make projects bankable and encourage responsible investment. The submission addressed environmental and social governance and urged that policy design include rigorous standards for rehabilitation, water management and community engagement to avoid adverse impacts. It proposed enhanced geological surveys and a faster permitting mechanism to reduce lead times while maintaining oversight. The WGC also recommended capacity building for small and medium miners and closer coordination between central and state agencies to streamline approvals and improve enforcement. The council framed the change as contributing to strategic resilience by expanding domestic supply chains for jewellery, technology and central bank reserves while creating export opportunities in processed gold products. It concluded that recognition as a strategic mineral would send a clear signal to markets and developers and called on authorities to consider measures to unlock value from the country's gold resources. Policy action was presented as timely and commercially pragmatic.

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