World Gold Council pushes for strategic mineral status to unlock domestic mining

The industry body argues that reclassifying gold would streamline regulatory approvals and curb import reliance, adding a policy-driven supply catalyst to a market already buoyed by central bank demand.

{{L:By}} Handelsavisen Newsroom · {{L:Automated}} 2026-08-04 12:22 UTC · 1 {{L:min read}}

The World Gold Council (WGC) has formally urged governments to classify gold as a strategic mineral, a move it argues would significantly accelerate domestic mining production and reduce reliance on imports.

The industry body contends that such a designation would trigger a single-window clearance mechanism for mining approvals, cutting through bureaucratic delays that currently stifle new project development.

This policy push arrives as the gold market navigates a complex landscape of institutional demand and supply constraints.

The WGC’s call for regulatory reform underscores a growing industry consensus that structural bottlenecks in mining permits are limiting the ability of producers to respond to rising prices.

By framing gold as a critical resource akin to rare earths or lithium, the council aims to elevate its political priority in national security and economic resilience discussions.

The strategic mineral argument gains traction against a backdrop of heightened geopolitical uncertainty and persistent central bank buying.