The Consolidated Mining Standard Initiative (CMSI), a collaboration of The Copper Mark, Mining Association of Canada, ICMM, and the World Gold Council, has released a draft consolidated standard, governance model, assurance methodology, and related reporting and claims policy. The effort seeks to simplify the complicated terrain of mining rules and promote ethical behavior throughout the metal and mineral value chains.
The CMSI envisions a sustainable society through responsible metal and mineral production, sourcing, and recycling. The consolidated standard is intended to apply to any mining operation globally that is dedicated to environmental, social, and governance excellence.
Once approved, the standard is likely to be adopted by a diverse spectrum of mining firms, from small-scale operations to major multinational corporations. This widespread adoption might make the CMSI standard the most widely utilized voluntary mining standard to date, with nearly 100 mining corporations potentially using it across 600 operations in about 60 countries.
The CMSI is soliciting feedback from stakeholders over a 60-day public consultation session. Interested people can submit feedback and comments online until December 16th, 2024. A second, shorter consultation is scheduled for 2025.
The World Gold Council‘s Chief Financial Officer, Terry Heymann, expressed enthusiasm for the initiative, saying, “The new, consolidated Standard will create a simplified system that serves the needs of all stakeholders, sets a high bar for responsible mining, and drives continuous improvement across the entire mining and metals industry.”
The CMSI‘s development has been driven by ISEAL’s Codes of Good Practice, which ensure a transparent and inclusive approach. The initiative’s success will be dependent on the active participation of stakeholders from across the mining industry and beyond.