Stakeholder Newsletter: October 2024
Folks,
This week, the mining industry changed forever, for the better.
A consolidated mining Standard was born. Any mine, producing any commodity, anywhere in the world will finally have a common blueprint for responsible practices - joining the almost 100 companies operating approximately 600 sites in 60 countries that we anticipate will apply it across ICMM, Copper Mark, World Gold Council and Mining Association of Canada once finalised and launched.
This would give it the widest coverage to date of any voluntary mining Standard. Indigenous People, local communities, investors, governments and others will finally get the clear and consistent Standard they have asked for to have confidence in our sector - including through its multi-stakeholder oversight. I'm so grateful to the individuals from these groups that formed the Stakeholder Advisory Group to guide the development of this.
All towards a global industry that consistently improves lives and protects the environment while producing the commodities essential to modern life.For the next 60 days, you get to shape it. Did we miss something? Is a Performance Area not set at the right level? What did we get right, that we should absolutely retain? Have your say via the Public Consultation here.
The ICMM team is still riding high from the energy of the Responsible Mining Leadership Forum earlier this month. Our biggest yet, we were so moved by the open and honest discussions around the theme of ‘Tensions’ in mining. In a world of shrinking space for sincere debate, we are more committed than ever to genuine dialogue.
That’s going to be how we engage at the Biodiversity Summit (COP16) in Cali, building on our landmark Nature commitment that we launched earlier this year.
Before I go, I want to highlight some fantastic achievements from ICMM this past month, including our updated guidance on the safe transportation of critical minerals and the launch of new Tools for Circularity. These publications are designed to drive performance improvements across the entire value chain and as ever, are available to all for free.
If you thought any of this is valuable, then please direct your thanks to Iván Arriagada, CEO Antofagasta Minerals and ICMM's outgoing Chair whose two-year term ended earlier this month and which represented some of ICMM’s most significant milestones to date. The future has never looked brighter though, with Tom Palmer, CEO of Newmont and our incoming Chair continuing to champion ICMM’s commitment to responsible mining.
Until next time,
Ro
Features
ICMM appoints Newmont CEO Tom Palmer as new Chair
My focus will be on building support across the sector for a consolidated mining standard. I believe this to be key to enhancing the reputation of the industry and give stakeholders confidence that the materials we mine are done so in a responsible manner.
ICMM has announced Tom Palmer, President and CEO of Newmont, as its new Chair, succeeding Iván Arriagada, CEO of Antofagasta Minerals. Tom will lead ICMM’s Council, which comprises the CEOs of all company members, for the next two years. We are delighted to welcome Tom and thank Iván for his service.
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ICMM publishes updated guidance for the safe transportation of critical minerals
Having the right systems in place to protect people handling and transporting [critical] materials, and in a way that considers the environment, is essential.
With the growing demand for metals and minerals—driven by the energy transition and the Sustainable Development Goals—it is vital that businesses be equipped with the knowledge to handle these materials safely and securely. On World Maritime Day, ICMM published guidance aimed at improving accurate hazard assessment of ores and concentrates during maritime transportation.
Originally released in 2014, this update provides the industry with the tools needed to navigate evolving maritime regulations and to implement robust risk-management systems for safe, sustainable mineral transport.
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ICMM launches tools to boost circularity in mining and metals
Increasing the circularity of mining and metals value chains will help us to sustainably and responsibly meet the growing demand for metals.
ICMM has introduced new tools to help mining and metals companies improve circularity—reducing waste and maximising value throughout the materials lifecycle, from sourcing to recovery. These Tools for Circularity offer business cases, best practices, and case studies to guide companies in implementing sustainable practices like the re-mining of tailings, optimising of water use, and recycling materials such as tyres and e-waste.
With rising demand for minerals driven by clean energy technologies, ICMM aims to support responsible growth.
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Navigating the future: Challenges and opportunities in the mining industry
This month, Ro Dhawan attended two key FT Live events—the Financial Times Live Mining Summit in London and the Energy Transition India Summit—to share his thoughts on the key factors shaping the future of the mining industry.
In London, Ro gave a ‘weather forecast’ for the industry, highlighting some of the main challenges we face, including unpredictable regulations and the cost of inflation. He also pointed to brighter prospects ahead, with expectations of increased M&A activity, growing government support, and heightened interest from stakeholders in shaping the industry’s future. You can read his speech in full on our website.
In India, Ro discussed the importance of committing to net zero, adopting emissions-free mobile equipment, investing in renewable energy, embracing Scope 3 emissions, and working in partnership with others to turn the industry’s responsibilities and challenges into its greatest opportunities. Read Ro’s key talking points here.
Public Consultation: Consolidated Mining Standard Initiative
ICMM is proud to support the Consolidated Mining Standard Initiative vision for a less complex standards landscape that benefits all stakeholders, sets a high bar for responsible mining and drives continuous improvement across the wider mining industry.
Embracing responsible practices means adopting a full life-cycle approach to metals and minerals production that promotes positive contributions to society, addresses its impacts on people and the environment, and supports progress to a circular economy.
We encourage all interested stakeholders to provide feedback on the draft Standard and multi-stakeholder oversight system. Your views are important in delivering positive outcomes for industry, local communities, the environment and others in the minerals and metals value chain – from mining to smelting, refining and beyond. The public consultation is open for 60 days, until 16 December 2024 and available in 8 languages. You can submit your feedback and learn more about CMSI here.
You can also register to find out more in an ‘explanatory webinar’ on 23 October at 08:00 BST or 16:00 BST. Click here to register.
Connect With Us
COP16: United Nations Biodiversity Conference
Cali, Colombia • 21 October – 1 November
The ICMM team will be at COP16, sharing our action on nature by engaging in important cross-sector discussions on how mining can be a key partner for delivering the Global Biodiversity Framework targets, updating on progress on the implementation of ICMM’s Nature Position Statement and the Consolidated Mining Standard Initiative. ICMM’s Co-COO Aidan Davy will be leading ICMM’s presence on the ground at COP16. Find details of our confirmed COP16 events here.
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IMARC: International Mining and Resources Conference 2024
Sydney, Australia • 29 October – 31 October
ICMM’s Director of Environment, Emma Gagen, will be at IMARC sharing insights on how to overcome challenges in achieving nature positive outcomes and addressing the question of sustainable water management in mining within Australia. More information will be shared on the ICMM website as it becomes available.
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COP29
Baku, Azerbaijan • 11 November – 22 November
The ICMM team will be at COP29. A focus will be to update on progress on the Consolidated Mining Standard Initiative. See details on our confirmed COP29 events on the ICMM website, including:
Climate Action’s Sustainable Innovation Forum returns for its 16th annual edition during COP29 on 13-14 November, where ICMM’s John Lindberg will be moderating a panel on transition plans for the hard-to-abate sectors, including a focus on standard setting.
