LONDON, 13 June. - (ANA) - As prices surge amid global instability, illicit gold has become a major revenue stream for non-state armed groups and organised crime — eroding state authority, financing violence, and embedding itself in global supply chains.

 

On 17 June, the International Instate for Strategic Studies (IISS) launches its new research report: 'Mapping Risk and Resilience in the Global Illicit Gold Economy'. Join the authors and invited experts for a presentation and moderated discussion covering the developments and policy recommendations.

 

Gold has historically functioned as a safe-haven asset during periods of economic and geopolitical instability. In today’s global context – characterised by persistent armed conflicts, deepening geopolitical fragmentation and weakening multilateral governance – demand for gold has surged. Rising gold prices and elevated profit margins have incentivised not only legal investment but, crucially, a significant expansion of illicit activity, particularly in contexts where regulatory oversight is weak. As a result, gold has increasingly become embedded in criminal economies, through illicit mining, trafficking and associated crimes, while also serving as a source of illicit finance for a range of actors.

 

Illicit gold activities are generating serious economic, security and governance challenges at both the national and global levels. Illegal mining and associated crimes have become major revenue streams for non-state armed groups, including organised-crime groups, strengthening their operational capabilities while eroding state authority. Beyond sustaining conflict and armed violence, these activities can cause significant environmental damage, reduce official state revenues and deepen vulnerabilities in global supply chains, making the governance of illicit gold a pressing international priority. While many of the negative repercussions associated with illicit artisanal and small-scale gold mining (ASGM) are concentrated in the Global South, the trade is sustained by rising demand in Western countries and in emerging economies across parts of Asia and the Middle East.

 

The launch event of the IISS research report, ‘Mapping Risk and Resilience in the Global Illicit Gold Economy’, will feature a presentation and moderated discussion of the report’s key findings by its authors and invited experts. The discussion will examine vulnerabilities linked to illicit ASGM, assess preparedness and resilience measures across different geographies, and explore avenues for strengthening international responses to illicit gold mining and trafficking. It will draw on the report’s proprietary data for selected gold-producing countries in the Amazon basin, Southeast Asia and Sub-Saharan Africa.   - (ANA) -

 

AB/ANA/13 June 2026 - - -