Ulaanbaatar
Central Bank of Mongolia Joins the “London Principles”
Economy
Ulaanbaatar, June 19, 2024 /MONTSAME/. President of the Central Bank of Mongolia Lkhagvasuren Byadran attended the World Gold Council meeting and signed the “London Principles” along with the central banks of Columbia, Ecuador, and the Philippines.
Established by the World Gold Council, the “London Principles” aims at structuring and formalizing the purchase of gold from artisanal and small-scale gold miners (ASGMs) by central banks, supporting responsible ASGMs, and integrating them into the formal supply chain to reduce illicit activities and harmful practices often associated with small-scale gold miners.
The Central Bank of Mongolia noted that the signing of the “London Principles” by the central banks of four countries will make progress in the purchasing of gold from responsible sources.
