Page 25 - Bullion World Volume 4 Issue 11 November 2024
P. 25

Bullion World | Volume 4 | Issue 11 | November 2024


           beyond good practice and demonstrates leadership
           or best practice which a minority of implementing
           companies would reach).


           Stakeholders are also invited to provide their          About the Consolidated Mining
           views on the proposed governance model, which           Standard Initiative
           envisions an independent entity that will oversee
           further development, promotion and maintenance          The Consolidated Mining Standard
           of the Standard. It will implement the related          Initiative (CMSI) is a collaboration
           assurance process, grievance mechanism                  between The Copper Mark,
           and reporting and claims policy, and provide a          ICMM, Mining Association of
           platform for public disclosure of information such      Canada (MAC) and World Gold
           as outcomes of assurance. This entity will be           Council (WGC)to consolidate
           governed by a diverse, independent Board with           their four different responsible
           equal participation of companies and individuals        mining standards into one global
           from stakeholder and rights holders’ groups across      Standard and multi-stakeholder
           the mining industry and wider value chain. This         oversight system. The vision is
           model will emphasise consensus-based decision-          for a sustainable society, enabled
           making. It is the intention that The Copper Mark,       by the responsible production,
           including its Board, will transition and evolve into    sourcing, and recycling of metals
           this independent entity.                                and minerals. Through this Initiative,
                                                                   we are aiming to simplify the current
           The process has been guided by two advisory             mining standards landscape and
           groups: one comprising industry representatives,        promote continual improvement
           and the other bringing together a diverse range         of environmental, social and
           of voices from stakeholders, including NGOs,            governance practices along
           investors, Indigenous groups, downstream                individual metals’ value chains.
           customers and multilateral organisations. These
           groups have worked together and contributed their
           expertise to shape the draft Standard and multi-
           stakeholder oversight system.








































                                                                                                          25
   20   21   22   23   24   25   26   27   28   29   30