Standard-Setting Responsibility

Standard-Setting Responsibility

Multimedia from this Release

Monday, June 16, 2014 - 6:00pm


Developed by members of the World Gold Council, the Conflict-Free Gold Standard (the “Standard”) establishes a common approach for gold producers to assess and assure that gold is extracted in a manner that does not contribute to unlawful armed conflict, human rights abuses or breaches of international humanitarian law. Goldcorp strongly supports this initiative and implemented the Standard in 2013.

First we assessed all of our operations using the Heidelberg Conflict Barometer – an external criteria - to determine whether mine sites were located in ‘conflict-affected or high-risk’ regions. Finding that our three Mexico operations – El Sauzal, Los Filos and Peñasquito – are in ‘conflict-affected’ zones, we proceeded to implement the Standard at these locations.

This incorporated a Company Assessment to ensure that appropriate policies are in place to fulfill our corporate obligations and responsibilities without causing, supporting or benefiting conflict, human rights abuses or law breaches. Goldcorp systems which uphold these mandates include our Human Rights Policy, Code of Conduct, employee training in Voluntary Principles on Security and Human Rights, due diligence on security providers, our Anti-Corruption Policy and a comprehensive community grievance mechanism.

In addition, we conducted a Commodity Assessment to ensure we have the processes in place to manage the movement of gold and gold-bearing material in our custody while mitigating against the misuse of such material by groups associated with unlawful armed conflict.

Along with these measures in Mexico, Goldcorp ensured awareness and compliance of the Standards across operations in Canada, United States and Guatemala.

Adherence to the Standard provided added opportunities to conduct broad-scale due diligence on the efficiency and transparency of our business practices, and strengthen both management and operating control systems. In turn, all of our stakeholders –investors, governments, local communities, community representatives, civil society organizations, development agencies, refineries etc. - are further assured that we produce gold responsibly, with integrity.

Please read our Conflict-Free Gold Report for a full summary of Goldcorp’s conformance to the Standard which will be updated annually.