Disclosure Guidance Version 3

Following an extensive public consultation conducted between June and September 2025, LBMA is pleased to announce the publication of Disclosure Guidance Version 3 (DG3).

DG3 provides greater alignment with the OECD Due Diligence Guidance^[1] Footnote 59 reporting requirements and, in instances, goes beyond this to encourage more transparent and meaningful communication by Refiners. These increased transparency requirements were originally scheduled for 2027 but will now, with the support of LBMA-accredited Refiners and other gold supply-chain stakeholders, become part of Refiners’ compliance reports from next year.

DG3 reflects the collective feedback of refiners, assurance providers, civil society, industry partners, and other stakeholders committed to responsible and transparent precious metal supply chains.

Key Enhancements in Version 3

From 1 January 2026, Refiners will publicly disclose:

• The identity of the Refiner and local exporter in 'red flag' locations as per OECD Due Diligence Guidance;
• All World Gold Council (WGC) miners and mines from which Refiners receive material;
• All locations (countries) from which mined material is received.

DG3 should be interpreted as a minimum threshold upon which Refiners should build and continually improve reporting and disclosure practices. It forms part of the Refiners’ Toolkit and, as such, Refiners are expected to implement it on a comply or explain basis.

Outcome of the Public Consultation

LBMA has incorporated this feedback into the final version of DG3, helping to ensure that the improvements are both ambitious and implementable. A summary of consultation themes and LBMA’s responses is available in the Consultation Report alongside the published Guidance.