This week, Rob is in conversation with John Mulligan, one of the directors of the World Gold Council, a market development organisation for the gold industry.
John explains his role there, as well as the broader role of the Gold Council in the mining industry itself, how it was founded and with what purpose, as well as its influence on today’s industry.
This is a fascinating conversation that will allow anyone interested to see a very different side of the industry, as well as the future of gold in the wider world.
KEY TAKEAWAYS

The World Gold Council was formed in 1987 by some of the larger gold miners at the time, who realised that they were mainly operating a very long way away from where their gold was being consumed. Even in the modern age this is true. They needed an organisation that could protect and create a healthy market for the product on their behalf.
The Conflict-Free Gold Mining Standard - this was introduced at the behest of the gold miners collective and the council, which allows gold miners to potentially operate in riskier areas in a way that is transparent and responsible.
The Gold Council’s expertise lie in markets, analysis, policy, marketing and communications. Their members are from a wide variety of professions, so as to be able to be better equipped to provide advice and direction for its members.
Technology and innovation are driving change in the industry. Events and publications are all speaking of the many advancements that mining is currently working on. John sees this as key to the future of the industry.
Environmental, Social and Governmental advancements have the potential to change the public’s perception of the gold industry, as well as improve its standing with potential investors.
In the long term, the gold market is in a relatively robust state and has been for some time. Supply and demand is strong. The growth path is sound, and its production ratio is in alignment with global mega-trends.
China has evolved into the world’s largest gold producer, importer and consumer. This is remarkable when you consider that in the late 90’s, there was no significant market there. Of the 3,500 tons mined each year, 1,000 is consumed exclusively by China, almost a third of the total output.
The gold market was affected greatly by the fragility and eventual breakdown of financial institutions during the financial crisis. The majority of the world’s central bank reserves are held in dollar-denominated assets.
The recent rise of nationalism and populism have challenged certain assumptions about globalisation, foreign investment, and the path to development and prosperity. This will make the mining landscape riskier, but can be solved through legal and regulatory stability.

.BEST MOMENTS
‘Investment is where value and volume can be created’
’Now we try and bridge the whole gap from the miners to the markets’
‘When technology is used in an integrated fashion, then it has the potential to transform the industry’
‘Most gold miners don’t operate where gold is bought. Well, China do!’
’Last year was a record in the modern era for gold purchasing'
VALUABLE RESOURCES
 
Dig Deep – The Mining Podcast on iTunes
Email John at: info@gold.org
The Gold Council’s Website: https://www.gold.org
John Mulligan on LinkedIn: https://www.linkedin.com/in/john-mulligan-7a5303a/?originalSubdomain=uk
ABOUT THE HOST
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight to peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.
 
Rob is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining acr