A new initiative aims to create a sustainable society through responsible mining practices. The goal is to simplify existing mining standards and promote continuous improvement in environmental, social, and governance (ESG) practices across the entire metal and mineral value chain, from extraction to processing and beyond.
The initiative seeks widespread adoption of its new standard by mining companies of all sizes, across all commodities and global locations, to drive significant improvements in performance. One key feature of the standard is its universal applicability. It is designed for any mining facility worldwide that is committed to responsible practices.
Once finalized, the standard is expected to be adopted by current members of the International Council on Mining and Metals (ICMM), the World Gold Council, the Mining Association of Canada, and participants in The Copper Mark. This broad adoption would make the standard the most widely applied voluntary mining standard to date, with implementation potentially covering nearly 100 mining companies operating about 600 sites in around 60 countries.
The draft standard includes 24 Performance Areas that address a range of responsible mining practices. It builds upon the standards of its partner organizations, with each Performance Area having three levels:
Foundational Practice: A starting point that meets minimum industry standards, from which a facility can improve over time.
Good Practice: Meets international norms, frameworks, and guidelines that all responsible mining companies should strive for.
Leading Practice: Represents leadership in sustainability, going beyond good practice and setting a benchmark for others to follow. Only a minority of companies are expected to achieve this level.
Stakeholders are invited to comment on the proposed governance model, which calls for an independent entity to oversee the development, promotion, and maintenance of the standard. This entity will manage the assurance process, grievance mechanisms, and reporting policies, and will also provide a platform for public disclosure of results, such as assurance outcomes. It will be governed by a diverse, independent Board with equal representation from companies and stakeholders across the mining industry and value chain. This model will focus on consensus-based decision-making, with the intention that The Copper Mark, including its Board, will transition into this independent entity.
Two advisory groups have guided the development of the standard. One group is made up of industry representatives, while the other includes a broad range of stakeholders, such as NGOs, investors, Indigenous groups, customers, and multilateral organizations. These groups have worked together to shape the draft standard and its multi-stakeholder oversight system.
The standard’s development follows ISEAL’s Codes of Good Practice, ensuring transparency through two rounds of public consultation. The first consultation, which launched today, will run online for two months, ending on December 16, 2024. A second, shorter consultation is expected in 2025. Documents for the consultation will be available in Arabic, English, French, Japanese, Portuguese, Russian, Simplified Chinese, and Spanish, aiming to gather feedback from stakeholders worldwide.
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