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Stakeholder Newsletter: September, 2022

29 September 2022

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I am writing to you from Arequipa, Peru. My ICMM colleagues and I are at Perumin along with 60,000+ participants discussing the challenges and opportunities the mining industry faces here, particularly around water management, climate change and social and economic development.

Yesterday on the mainstage, I was pleased to launch the Spanish language version of our Social and Economic Reporting Framework. The framework sets out eight key indicators that measure the social and economic contributions of mining, raising the bar in several areas including the disaggregation of data by gender and ethnicity, and reporting of employee wages compared to the local living wage. Earlier this year ICMM members – 12 of which have operations in Peru – committed to report against the framework. I encourage all mining companies, wherever they operate, to adopt it, to provide a more complete picture of the industry’s social and economic contribution to the community around them, and help collectively identify areas for improvement.

In Peru, we also had the opportunity to bring local members together to discuss progress on implementing the Global Industry Standard on Tailings Management (the Standard). The recent tailings dam failure in Jagersfontein, in South Africa’s Free State province, underscores the critical importance of responsible tailings management and the urgent need for mining companies everywhere to immediately embrace the Standard as a top priority.

We must also challenge ourselves on the action required to produce less tailings waste, especially as the demand for critical minerals is set to grow exponentially. Last week we published a Tailings Reduction Roadmap which lays out innovative approaches and solutions capable of significantly reducing tailings from the mine life cycle, as part of our broader Tailings Innovation Initiative.

As Perumin draws to a close, I’m left with a sense of just how much the mining industry is part of the fabric of this country. After a visit to Cerro Verde, I saw both how intertwined and how harmonious mining and its surrounding community can be. Cerro Verde chose to build a sewage treatment plant for the city of Arequipa (in addition to a potable water plant), providing both the mine and the people of Arequipa with the clean water they need. Locals tell me that the difference is night and day.

Finally, among many exciting events listed below, it is a particular privilege to join colleagues from Vale and Volvo on Monday 3 October at the Economist Sustainability Week: Countdown to COP27 to discuss how responsibly produced minerals are central to a sustainable, net zero future. Please join us!



ICMM Launches Spanish Language version of Social and Economic Reporting Framework

Earlier this year our members, through the ICMM Social and Economic Reporting Framework, committed to report against a set of social and economic indicators, to help stakeholders including communities, governments, and investors to assess the contribution of the industry to social and economic development more easily. It also supports mining companies to better assess and strengthen the delivery of their own social and economic contribution programmes.

We are pleased to launch the Framework in Spanish this week, to coincide with Perumin. You can find it here.

ICMM Publishes Tailings Reduction Roadmap

Last week, we launched a Tailings Reduction Roadmap, which lays out innovative approaches and solutions capable of significantly reducing and where possible eliminating tailings waste from the mine life cycle, as part of our broader Tailings Innovation Initiative.

The Initiative brings together a third of the global mining and metals industry to collaborate with technology innovators, including suppliers and academia, to accelerate technology for reducing tailings waste and to explore the potential to eliminate it in the long-term. You can find out more about the Roadmap and the wider Initiative here.

Up-Coming Events

IUCN Leaders Forum
Jeju, South Korea, and virtually • 13 October, 05:30-07:00 (BST), 13:30-15:00 (KST)

Rohitesh Dhawan will be speaking as part of the Leaders Dialogue on the first day of the forum. Ro will speak about how a nature positive approach can minimise the impacts of our activities and enhance ecosystems alongside a panel of CEOs. Register here.

ICC Sydney, Australia • 3 November, 11:25 - 12:00, 4 November, 09:35 - 10:05 (AEST)

Director of Social Performance Danielle Martin will speak on two panels: the first on raising ESG standards within the mining industry alongisde speakers from EITI and Anglo American, and the second on the future of the mining workforce. Register here.

FT Commodities Mining Summit
Mandarin Oriental, London, and virtually • 20-21 October

The shift to a low carbon economy will not happen without mining, but at current levels of investment, the world will not be able to produce the huge amount of metals and minerals needed to hit the goals of the Paris Agreement on climate change. For that to change, investors and policymakers will have to engage with the industry, which will need to show that it can mine sustainably by driving down carbon emissions, water usage and making a positive contribution to society. ICMM Members inclduing BHP, Teck, Anglo American, Rio Tinto, Vale, Antofagasta Minerals, Barrick, and Gold Fields will be speaking throughout the summit. Register here.

2022 Sustainable Innovation Forum
Innovation zone at COP27, Sharm El Sheik • 10 November

Rohitesh Dhawan is taking part in this COP27 side event, discussing whether business is taking nature and biodiversity seriously, and how corporate decision making can take the true value of nature into account. Register here.

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