This initiative invites stakeholders to review a draft consolidated standard, governance model, assurance process, and related reporting policies, with a 60-day window for feedback.
The vision of the CMSI is to foster a sustainable society through the responsible production, sourcing, and recycling of metals and minerals. The initiative aims to streamline the current mining standards landscape and enhance environmental, social, and governance practices across the entire metal and mineral value chain—from extraction to refining and beyond.
The new standard is designed for widespread adoption among mining companies, regardless of size, commodity, or location. A key aspect of this standard is its applicability to any facility committed to responsible mining practices worldwide.
Once finalized, the standard is expected to be embraced by current members of ICMM, the World Gold Council, and the Mining Association of Canada, as well as participants in The Copper Mark. This extensive adoption could lead to the largest voluntary mining standard implementation to date, involving nearly 100 mining companies operating around 600 sites in approximately 60 countries.
The draft standard includes 24 performance areas covering a comprehensive range of topics related to responsible mining. It builds upon the attributes of each partner's individual standards and categorizes performance levels into three tiers:
Foundational Practice - This level represents initial compliance with basic industry standards, serving as a starting point for facilities to improve over time.
Good Practice - This tier aligns with industry standards and international norms, providing a benchmark for responsible mining companies.
Leading Practice - This advanced level exemplifies best practices and is achievable by a minority of companies demonstrating exceptional performance.
Stakeholders are also invited to comment on the proposed governance model, which suggests establishing an independent entity responsible for overseeing the standard's development, promotion, and maintenance. This entity will implement the assurance process, grievance mechanism, and reporting policy, facilitating public disclosure of outcomes. The governance structure will include a diverse, independent board representing various stakeholders in the mining sector and beyond, promoting consensus-based decision-making. The Copper Mark, including its current board, is expected to evolve into this independent entity.
The initiative has been guided by two advisory groups: one comprised of industry representatives and the other featuring diverse stakeholders, including NGOs, investors, Indigenous groups, downstream customers, and multilateral organizations. These groups have collaborated to shape the draft standard and the oversight system.
The development of the consolidated standard adheres to ISEAL’s Codes of Good Practice, ensuring a transparent process that involves two rounds of public consultation. The current consultation, which began today, will run until 16 December 2024. A shorter follow-up consultation is anticipated in 2025. To encourage global participation, consultation documents are available in Arabic, English, French, Japanese, Portuguese, Russian, Simplified Chinese, and Spanish.