A coalition warns that illicit gold is increasingly financing conflict and environmental destruction as gold prices soar. The warning comes ahead of the Illicit Finance Summit scheduled for June 23-24, 2026, in the UK. This summit will address issues surrounding illicit finance, including gold.
Rising global gold prices and geopolitical instability have made gold a key tool for criminal networks. Illicit gold is financing organized crime and causing significant environmental damage worldwide. Reports indicate that illegal mining activities are decimating forests and polluting rivers in Ghana.
Key facts:
- Gold prices are at record highs, making gold a preferred currency for organized crime.
- The coalition of civil society organizations includes 34 groups calling for stronger international cooperation.
- Hoshii International Limited is the gold partner for the upcoming Africa Senior Athletics Championships.
Daryl Bosu from A Rocha Ghana stated, “Ghana’s forests and rivers are being destroyed by the global gold price boom.” Helen Taylor from the Global Initiative Against Transnational Organised Crime added, “Illicit gold has become a preferred currency for organised crime.”
The environmental impact of illegal mining is severe. Gold mining is one of the leading drivers of forest loss globally. The coalition urges governments to implement stricter regulations on gold supply chains to combat these issues.
The Africa Senior Athletics Championships will take place in Ghana from May 12-17, 2026. Madam Ivy Udanoh of Hoshii International emphasized the importance of athletics in fostering international unity despite these challenges. The situation highlights the need for urgent action against illicit finance linked to gold.
