Page 24 - Bullion World Volume 4 Issue 11 November 2024
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Bullion World | Volume 4 | Issue 11 | November 2024
           B ullion  W orld |  V olume 4 | I ssue 11 | N o v ember  2024
           The Consolidated



           Mining Standard


           Initiative Launches the




           First Public Consultation




           Mr Terry Heymann
           Spokesperson, The World Gold Council
























           The Copper Mark, Mining Association of Canada,     Once finalised, the Standard is expected to be
           ICMM and World Gold Council – Partners of the      used by existing members of ICMM, the World
           Consolidated Mining Standard Initiative (CMSI)     Gold Council and Mining Association of Canada,
           – have published a draft consolidated standard,    and participants of The Copper Mark. This broad
           governance model, assurance process and            adoption would give the Standard the widest
           related reporting and claims policy, and encourage   coverage of any voluntary mining standard to date
           stakeholders to provide their views during a 60-day   with implementation anticipated to include almost
           public consultation.                               100 mining companies across approximately 600
                                                              operations in around 60 countries.
           The vision for the Initiative is for a sustainable
           society, enabled by the responsible production,    The draft Standard comprises 24 Performance
           sourcing and recycling of metals and minerals. Its   Areas covering a wide range of topics related
           goal is to simplify the current mining standards   to responsible mining practices. The Standard
           landscape and promote continual improvement of     builds on the attributes of the Partners’ individual
           environmental, social and governance practices     standards and each Performance Area has
           across metal and mineral value chains - from mining  three levels: Foundational Practice (a starting
           to smelting, refining and beyond.                  position of conformance with minimum industry
                                                              standards, which a facility can build on and improve
           The aim is for this Standard to be adopted by a    performance over time);
           wide range of mining companies – large and small,
           across all commodities and locations - to drive    Good Practice (a level of practice in line with
           performance improvement at scale. An important     industry standards and international norms,
           feature of the Standard is that it is applicable to any   frameworks and guidelines which all responsible
           facility, anywhere in the world that is committed to   mining companies should aim to achieve), and;
           responsible practices.                             Leading Practice (a level of practice which goes


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