The International Council of Metals and Mining (ICMM) has published a statement, welcoming new guiding principles issued by the UN Secretary-General’s Panel on Critical Energy Transition Minerals.
“We are pleased that the Principles reference several long-standing commitments that ICMM members have already been delivering against,” the organization said, adding that it had hoped that the Principles would go further in raising the bar for global governments and international bodies through stronger enforcement of national laws.
ICMM also advocated steps to ensure the reliable supply of critical minerals which would entail a more efficient permitting processes for new mines without compromising high standards in the industry, as well as the development of market mechanisms such as green premiums to support and encourage responsible operators.
The UN Panel has developed and recently published seven guiding principles drawing from existing international norms, commitments, and legal obligations:
Principle 1. Human rights must be at the core of all mineral value chains.
Principle 2. The integrity of the planet, its environment and biodiversity must be safeguarded.
Principle 3. Justice and equity must underpin mineral value chains.
Principle 4. Development must be fostered through benefit sharing, value addition and economic diversification.
Principle 5. Investments, finance and trade must be responsible and fair.
Principle 6. Transparency, accountability and anti-corruption measures are necessary to ensure good governance.
Principle 7. Multilateral and international cooperation must underpin global action and promote peace and security.
In addition to this, the international body issued five recommendations to operationalise and support the implementation of the principles.
Theodor Lisovoy, Managing Editor, Rough&Polished
