Stakeholder Newsletter: December, 2022
Never miss an update - subscribe to our newsletter.
We're at the tail end of a complex negotiation in COP15. As we have consistently said, we call on world leaders to take clear and actionable steps by agreeing a global nature positive goal. As I travel back from Montreal, I thought this would be a good chance to reflect on ICMM this past year and share just some of what we will focus on in 2023 – so I made you a video message.
I am proud of the progress ICMM has made towards enhancing mining’s contribution to sustainable development this year. Just this week, ICMM has launched two reports highlighting the contribution the mining industry make to the economies of host countries. I truly believe, that when done responsibly, mining can be transformational to host communities and economies, and whilst they show only one aspect of ‘contribution’, these reports help us understand the important role of mining in some of the poorest countries in the world.
But, as my colleague Christian Spano wrote recently in his blog on the circular economy - “The necessary journey has already started, but we need to go further, faster.”
This month, the ICMM team were at the World Circular Economy Forum in Kigali, Rwanda, discussing the role of mining and metals in accelerating a circular economy, sharing the action our members are taking on circularity, and listening and learning from a wide range of stakeholders.
It is this energy that I wish to bring into the new year. I am forever grateful for all of the work that has been done collaboratively within our membership to drive progress at scale in 2022, and I look forward to even more action in the year to come.
I hope you all have a wonderful break, and I look forward to reconnecting with you all in 2023.
Blog: The Role of Mining and Metals in Accelerating a Truly Circular Economy
Can mining become one circle in the infinite lifetime of land? ICMM’s Director of Innovation Christian Spano reflects on the potential of circularity in mining, and how it is a critical part of delivering a just energy transition that gets us to net zero sooner, while also supporting the continued growth of developing countries. Read the blog here.
Find out what actions our members are taking in different areas of the Circular Economy
Metals and minerals are at the heart of a circular economy. Reducing and recycling waste, increasing use of renewable energy, optimising water usage, regenerating closed mine sites and focussing on efficiency is already foundational to strategy in the industry. See how ICMM members are using innovative techniques to become more circular here.
World Circular Economy Forum session recording - The Role of Mining and Metals in a Global Circular Economy
What does a circular economy look like for mining and metals, and how do we ensure that mineral-rich producing countries are able to benefit from the resources held in their land? Watch ICMM, African Circular Economy Alliance and partners explore this question and more here.
Mining’s Economic Contribution
ICMM has published two reports – The Mining Contribution Index (MCI) and the 2021 update to the Tax Contribution Report – that highlight the contribution the mining industry makes to the economies of host countries. The MCI synthesises into a single number, and associated ranking, the significance of mining’s economic contribution to national economies. Since ICMM first published the report in 2014, the data has consistently shown that mining remains the primary driver of economic activity in many low and lower-middle income countries.
Corporate income tax (CIT) and royalties is an important indicator of economic contribution, and transparent disclosure of this data helps civil society to hold governments to account for revenues paid. In the financial year ended 30 June 2021, ICMM members paid a total corporate income tax charge (excluding deferred tax) of US$20.8bn (an increase of over US$5bn), and a royalty charge of US$9.4bn. This represented a 27% increase in the CIT and royalties paid when compared to the same period last year. Read more about the reports here.
Blog: Achieving a Just Transition: Human Rights, Justice, and Equity
Our latest blog from ICMM Manager Marcus Addy, written for Human Rights Day, explores the actions the industry must take to responsibly produce the materials for the future, in a way that is inclusive and fair. Read the blog here.
Cape Town, South Africa • 6-9 February
The ICMM team will be in Cape Town for Mining Indaba, taking part in vital conversations on sustainability and social performance in the industry. Rohitesh Dhawan will be speaking on a panel with ICMM members on the actions taken on Diversity, Equity and Inclusion in the industry, as well as on decarbonisation in the footsteps of COP27. ICMM COO Aidan Davy will discuss the role of ESG in risk and uncertainty among the investor community and on a ‘zero harm’ approach to tailings and safety management. Find out more here.
Never miss an update - subscribe to our newsletter