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Bullion World | Volume 4 | Issue 11 | November 2024
beyond good practice and demonstrates leadership
or best practice which a minority of implementing
companies would reach).
Stakeholders are also invited to provide their About the Consolidated Mining
views on the proposed governance model, which Standard Initiative
envisions an independent entity that will oversee
further development, promotion and maintenance The Consolidated Mining Standard
of the Standard. It will implement the related Initiative (CMSI) is a collaboration
assurance process, grievance mechanism between The Copper Mark,
and reporting and claims policy, and provide a ICMM, Mining Association of
platform for public disclosure of information such Canada (MAC) and World Gold
as outcomes of assurance. This entity will be Council (WGC)to consolidate
governed by a diverse, independent Board with their four different responsible
equal participation of companies and individuals mining standards into one global
from stakeholder and rights holders’ groups across Standard and multi-stakeholder
the mining industry and wider value chain. This oversight system. The vision is
model will emphasise consensus-based decision- for a sustainable society, enabled
making. It is the intention that The Copper Mark, by the responsible production,
including its Board, will transition and evolve into sourcing, and recycling of metals
this independent entity. and minerals. Through this Initiative,
we are aiming to simplify the current
The process has been guided by two advisory mining standards landscape and
groups: one comprising industry representatives, promote continual improvement
and the other bringing together a diverse range of environmental, social and
of voices from stakeholders, including NGOs, governance practices along
investors, Indigenous groups, downstream individual metals’ value chains.
customers and multilateral organisations. These
groups have worked together and contributed their
expertise to shape the draft Standard and multi-
stakeholder oversight system.
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