The RMI , a cross-industry body targeting supply chain traceability and responsibility whose 400 members include Sandvik and Newmont , has announced a new ESG Standard

� IVANHOE MINES Following 24 years of exploration and development , both Ivanhoe and partner Zijin have revealed production of copper concentrate at its Kamoa-Kakula project in the Democratic Republic of Congo ( DRC ) had begun months ahead of schedule against the backdrop of record prices for the red metal .

What they said : “ The RMI ’ s ESG Standard offers the most comprehensive set of Environmental , Social & Governance requirements globally for facilities sourcing and processing minerals . It will help companies meet government , investor , customer and regulatory requirements , such as the expectations set by EU Due Diligence frameworks and the London Metals Exchange ( LME ), while improving conditions for workers , addressing environmental and community impacts , and managing governance risks in all mineral supply chains .”

ESG Standard – the key components :

• Environmental criteria cover the impact from operations on the environment and biodiversity as well as the communities companies operate in .

• Occupational health and safety provisions address company hygiene , safe operation of equipment and personal protection requirements .

• Social obligations cover labour practices supporting age of employment , fair working hours , minimum wages , grievance mechanisms and diversity provisions , including women ’ s rights and underrepresented communities .

• Governance requirements ensure businesses are duly registered , adhere to laws and regulations .

� ALBEMARLE The world ’ s biggest lithium producer is set to boost extraction from the brines it pumps from Chile ’ s salt flats . Albemarle ’ s $ 200mn tech investment is forecast to lift yields of ingredients for the battery metal up to 80-85 % from 50-55 %.

� AUSTRALIA Australia ’ s government , reliant on coal and gas-fired power for its mining industry , has rejected carbon tariffs . However , The EU is set to propose a carbon border tariff policy on 14 July that would impose emission costs on imports of goods including steel , cement , and electricity to level the playing field with countries ( like Australia ) that have weaker carbon policies .

� VALE Vale halted production at its Timbopeba mine in Brazil , and part of its Alegria mine , after it was ordered to evacuate an area near Xingu Dam in the state of Minas Gerais . The closures were forecast to reduce iron ore output by 40,000 tonnes per day .

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