Precious metals standard-setting body LBMA states that the artisanal and small-scale mining (ASM) industry requires urgent support as it becomes increasingly exploitative and violent as a result of rising gold prices.
LBMA CEO Ruth Crowell states that 83% of the world’s mining workforce, or about 40.5-million people, rely on ASM mines for their livelihood, thereby translating into nearly six times more people being involved in ASM mining than in large scale mining. “This hints at the significant economic impact ASM can have.”