The Consolidated Mining Standard Initiative launches first public consultation
The Copper Mark, Mining Association of Canada, ICMM and World Gold Council – Partners of the Consolidated Mining Standard Initiative (CMSI) – have published a draft consolidated standard, governance model, assurance process and related reporting and claims policy, and encourage stakeholders to provide their views during a 60-day public consultation.
The vision for the Initiative is for a sustainable society, enabled by the responsible production, sourcing and recycling of metals and minerals. Its goal is to simplify the current mining standards landscape and promote continual improvement of environmental, social and governance practices across metal and mineral value chains - from mining to smelting, refining and beyond.
The aim is for this Standard to be adopted by a wide range of mining companies – large and small, across all commodities and locations - to drive performance improvement at scale. An important feature of the Standard is that it is applicable to any facility, anywhere in the world that is committed to responsible practices.
Once finalised, the Standard is expected to be used by existing members of ICMM, World Gold Council and Mining Association of Canada, and participants of The Copper Mark. This broad adoption would give the Standard the widest coverage of any voluntary mining standard to date with implementation anticipated to include almost 100 mining companies across approximately 600 operations in around 60 countries.
Terry Heymann, Chief Financial Officer of The World Gold Council commented: “The new, consolidated Standard will create a simplified system that serves the needs of all stakeholders, sets a high bar for responsible mining, and drives continuous improvement across the entire mining and metals industry. The World Gold Council’s Responsible Gold Mining Principles raised the bar on standards for large-scale gold mining and we are now taking the next step toward a more trusted mining industry. This will support increased supply chain transparency, which is important for customers, investors and regulators.”
The development of the consolidated Standard has been guided by ISEAL’s Codes of Good Practice, involving a transparent process that includes two rounds of broad public consultation. The first consultation, launched today, will run online for two months, concluding on 16 December 2024. A shorter second consultation is expected in 2025.
Source: https://tracker.gold.org/