This two-day seminar will examine gold’s role in promoting the stability of reserve portfolios and in socio-economic development.
Gold mining and related activities can play an important role in achieving sustainable socio-economic development in all countries where gold is found. Large-scale mines in particular are significant contributors, often providing
infrastructure, healthcare and business opportunities that can have a highly positive impact on communities.
Large-scale commercial gold mining contributed an estimated US$78bn to global GDP in 2012 and nearly 530,000 direct jobs. The overall contribution to global GDP of all aspects of gold demand and supply is estimated to be US$210bn. Gold produced in conformance with high safety, environmental and social standards has the benefit of being an important source of development and opportunities for many countries and communities in the form of jobs skills, improved infrastructure and tax revenues.
Gold also plays a critical role as a reserve asset in over 112 countries, where it represented 12% on average of the over US$12tn in global official reserves. Gold offers diversification to the reserve portfolio, insurance against tail risks and protection against inflation. The long term appreciation of gold has allowed central bank reserves to grow alongside increasing demands of growing countries and its deep liquidity has allowed these countries to raise dollars when most critically needed.
At the end of this seminar, attendees will better understand:
• The unique qualities of gold from its multiple sources of supply and many sources of demand
• The importance of gold as a reserve asset in providing a country with wealth preservation, diversification, and liquidity
• The relevance of the Central Bank Gold Agreement to gold producing countries
• The socio-economic impact that gold mining can contribute to developing economies
• The challenges inherent in responsible natural resource management and the role for governments, development organisations, communities and civil society organisations and the private sector.
The seminar will be based on lectures and panel discussions led by experts from the World Gold Council, the United Nations, and other experts from international organisations. The seminar will have a participatory approach, with presentations and discussions on the various topics on the agenda. Adequate time will be allocated for participants to interact with presenters.
The seminar is open to members of permanent missions accredited to the United Nations. Priority will be given to diplomats from gold producing countries. Interested members of International or government organisations are also invited.
Members of the Permanent Missions accredited to the United Nations in New York who wish to participate in this seminar are requested to register online at www.unitar.org/event/new-york.
All others are requested to contact firstname.lastname@example.org
The course participation fee has been waived through our collaboration and sponsorship from the World Gold Council.
All participants who successfully complete the workshop will receive a UNITAR Certificate of Completion.