Molybdenum, Zinc, and Nickel Join Copper Mark’s Assurance Framework

Copper Mark is deepening its collaboration with the International Molybdenum Association (IMOA), the International Zinc Association (IZA), and the Nickel Institute (NI) to promote responsible production practices by making its assurance framework available to molybdenum (Mo), nickel (Ni), and zinc (Zn) producers.

In a statement, it said the four organizations "recognize the growing demand for responsibly produced minerals and metals. By joining the Copper Mark, further increases the proportion of responsibly produced Cu, Mo, Ni, and Zn for customers and provides up-to-date, credible information to support investors ‘decision making’.

Copper Mark to evolve into single multi-metal framework image

The collaboration will support efforts to promote sustainable and responsible production and sourcing practices across Mo, Ni, and Zn value chains, while also facilitating convergence around a core set of criteria defined in the Risk Readiness Assessment (RRA).

The Commodity Association hopes to significantly reduce the administrative burden, minimize costs and provide a mechanism for Cu, Mo, Ni, and Zn producers to meet market expectations and growing regulatory requirements. The proposed Molybdenum Mark, Zinc Mark, and Nickel Mark will benefit from the recognition the Copper Mark has already received from the LME, including inclusion in the LMEpassport and the International Council on Mining and Metals (ICMM).

The goal is to pilot an assurance framework for Mo, Ni, and Zn producers in 2022, with a full launch planned for 2023.

Michèle Brülhart, Executive Director of the organization, said: "We are pleased to open the assurance framework to Mo, Ni, and Zn producers, strengthening the collaboration between Copper Mark, IMOA, IZA, and NI. This collaboration builds on the success of the Joint Due Diligence Standard, which highlights the growing importance of responsible production practices and facilitates the convergence and uptake of existing standards rather than creating new ones. It will enable copper, nickel, and zinc producers and stakeholders in the value chain to speak with one voice about the importance of promoting sustainable practices."

Eva Model, Secretary-General of IMOA, said, "Copper Mark is a proven assurance framework that can be easily applied to the molybdenum supply chain. Our partnership with the organization, which begins in 2021, provides an opportunity for our molybdenum producing members to respond to growing downstream expectations as an assurance of a comprehensive set of environmental, social, and governance standards."

Molybdenum joins the Copper Mark assurance framework image

Andrew Green, Executive Director of IZA said: "Through this partnership, IZA is supporting member companies in complying with the growing regulatory requirements and global customer demand for ESG assurance. By working with other metal commodity associations to establish a successful and credible framework of responsible sourcing standards and assurance applicable to zinc and its by-products, we will minimize the workload for companies."

NI President Hudson Bates said: "The development of the Copper Mark as a single framework for multi-metal companies is an important step in supporting the nickel industry's compliance with growing responsible sourcing requirements. This unified approach recognizes the commonality of nickel with other metals and the fact that various metals often occur together in deposits, which will greatly reduce the reporting and audit burden of multiple standards."

 

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