The need for responsible large scale mining practices has for many years been a priority for many industrial (or “large-scale”) mining companies.
Since the late 1990s this has been approached collectively by the large-scale mining companies to help address social, ethical and environmental concerns and build recognition of the industry’s contribution to local communities and society at large.
The large scale mining industry provides the resources necessary for creating and developing modern materials and enabling technological progress and, as a responsible industry, has also provided substantial benefits including economic advantages, environmental stewardship, health and safety standards, social welfare, infrastructure, education and training, alternative livelihoods and human rights awareness.
To achieve this, the industrial large scale mining industry already operates within a spectrum of mandatory and voluntary initiatives that ensure working practices are responsible and sustainable.
Some of the main guidelines for responsible large scale mining operating practices are, for example, enshrined in the:
- Universal Declaration of Human Rights
- United Nations Guiding Principles for Business and Human Rights
- OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas
- Equator Principles
- Extractive Industry Transparency Initiative (EITI)
- ICMM Mining Principles
- IFC Environmental and Social Performance Standards
- The Voluntary Principles on Security and Human Rights
The Cobalt Institute supports transparency for producers in gaining an intimate understanding of their supply chain provenance and working towards continuous improvement of their sourcing practices.