Copper Mark to unify ESG standards for metal producers

Sustainability organization Copper Mark is moving to develop a single mining standard across various metal supply chains and form a new board with wider representation.

The U.K.-based organization released on Wednesday a call for applications for a new chair who will head a 17-member board – up from seven members – as Copper Mark in 2026 takes over the Consolidated Mining Standard, Assurance Process and Claims Policy.

“The independent chair will play a critical role to uphold the integrity of the Copper Mark and ensure we continue to drive performance improvements across and along mineral and metal value chains,” Copper Mark executive director Michèle Brülhart said in a release.

Founded in 2019, Copper Mark independently assesses and certifies red metal producers for environmental, social and governance (ESG) performance. Its remit has expanded to molybdenum, nickel and zinc producers. About 40% of copper mined globally comes from sites assured by Copper Mark.

Standards initiative

Governments, manufacturers and investors are increasingly demanding greater traceability and proof of responsible production in the energy-transition supply chain. The interest comes as numerous studies, forecasts and estimates see limited copper supply while demand and prices rise.

Along with London-based partners the World Gold Council, and the International Council on Mining and Metals, as well as the Mining Association of Canada, Copper Mark is writing up the Consolidated Mining Standards Initiative (CMSI) to have it ready for next year

The CMSI seeks to develop a global standard that simplifies and clarifies responsible practices for mining companies across locations and commodities. The intended effect is to cut extra audits and replace them with one process.

Holders of current Copper Mark accreditation include Freeport-McMoRan (NYSE: FCX) for its Grasberg operation in Indonesia. The Copper Mark has also recognized Anglo American (LSE: AAL; JSE: AGL) for its Los Bronces, El Soldado and Chagres operations in Chile, and Teck Resources (TSX: TECK.A, TECK.B; NYSE: TECK) for its Highland Valley Copper mine in British Columbia.

Capstone Copper (TSX: CS; ASX: CSC) has had its Mantoverde and Mantos Blancos mines in Chile certified with “Awarded” status under the Copper Mark. Aurubis has achieved certification for its Olen smelting and refining site in Belgium. Boliden holds “Awarded” status for its Rönnskär smelter and refinery in Sweden.

CMSI changes

Part of the CMSI evolution includes a changing governance structure, name and business scope, Copper Mark said. Members of the independent board are to represent commercial and non-commercial interests from mining and the downstream value chains to solidify distance from commodity associations.

The CMSI’s development has been driven by public consultation, with a session last week receiving feedback on the Consolidated Standard, Assurance Process and Claims Policy. The last public consultation in the form of public webinars across different time zones is slated for Nov. 17.