Tag Archives: Molybdenum Mark

Responsible mining practices recognised at Newmont’s Cadia mine

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Newmont Corporation has announced that its Cadia operation in New South Wales, Australia, has achieved The Copper Mark and The Molybdenum Mark following an independent assessment, recognising responsible production practices at Australia’s largest underground mine.

Cadia is Newmont’s first site globally to receive the award after successfully meeting more than 30 criteria needed in critical areas including environment, community, human rights and governance, among others, it says.

Newmont’s Cadia mine is the nation’s second largest copper producer and the third site in Australia to receive The Copper Mark. Cadia is the only operating mine producing molybdenum in Australia and, thus, the only mine to receive The Molybdenum Mark.

Newmont Chief Safety and Sustainability Officer, Suzy Retallack, said: “Meeting growing global demand for copper brings an obligation to sustainability and responsible mining which prioritises environmental stewardship, social responsibility and economic development for the communities in which we operate.

“We take great pride in being at the forefront of the copper industry with The Copper Mark, which highlights our dedication to responsible production and transparency.

“This means our global customers can now choose to source copper concentrate from an independently evaluated mine that meets the highest standards in environmental, social and governance practices, responding to the increasing demand for sustainable supply chains.”

In 2020, Cadia entered into a 15-year renewable Power Purchase Agreement with Tilt Renewables Limited to buy 55% of the wind farm’s output. Now fully operational, Rye Park is supplying approximately half of Cadia’s power needs.

“Cadia’s commitment to the community supported an investment of almost A$6 million ($3.96 million) in the 18 months to December 2023 to support community projects, education and infrastructure,” Retallack said.

The Copper Mark’s Executive Director, Michèle Brülhart, said, “Congratulations to the team of Cadia for being the third site in Australia to achieve The Copper Mark and the first site to get The Molybdenum Mark. With this, about 35% of Australia’s copper is produced at sites that have obtained The Copper Mark.”

The Copper Mark says it is the leading assurance framework to promote responsible, sustainable and ethical practices across the copper, molybdenum, nickel and zinc value chains.

Cadia comprises the Cadia East underground mine, which is one of the largest gold and copper deposits in the world, and Ridgeway underground mine, currently in care and maintenance.

Freeport-McMoRan adds Grasberg to Copper Mark-approved sites

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Freeport-McMoRan has achieved the Copper Mark at all 12 of its copper producing operations globally after adding its 48.76%-owned Grasberg mine, in Indonesia, to the lineup.

The Copper Mark is an assurance framework to promote responsible production practices for copper, built on the vision of improving practices across the whole industry over time. Its participants commit to fully meet the Copper Mark’s standards within two years of signing up to the assurance process and to continuously strengthen practices as these standards continue to be updated to align with increasing stakeholder expectations on environmental, social and governance (ESG) issues.

The Copper Mark seeks to promote transparency and accountability of its participants in general and especially in the case where a participating site manages complex issues that have significant environmental or social impacts. PT-FI Grasberg, the operating entity for Grasberg, owned 48.76% by Freeport and 51.24% by PT Inalum and PT Indonesia, operates a riverine tailings management system which the Copper Mark recognizes as one such issue.

In addition to the Copper Mark advances, Freeport’s two primary molybdenum sites, the Climax and Henderson operations in USA, were awarded the Molybdenum Mark.

The extensive, independent on-site assessment of PT-FI Grasberg confirmed the site’s conformance with the current Copper Mark expectations and standards, including the Interim Tailings Guidance, which requires all participants to implement the Global Industry Standard for Tailings Management, where applicable, and also specifies the expectations for riverine, ocean and lake tailings systems.

The Copper Mark is also developing additional guidance for any participating sites identified as having significant long-term environmental or social impact issues. Once finalised, PT-FI Grasberg will be required to demonstrate conformance with these additional requirements through onsite third-party assurance.

Executive Director of the Copper Mark, Michèle Brülhart, said: “We congratulate Freeport-McMoRan for achieving the Copper Mark at all of its copper operations globally and we are thrilled to see the company continue its commitment to demonstrating its responsible production practices with its two primary molybdenum sites to receiving the Molybdenum Mark.

“We recognise the significant impacts caused by the riverine tailings system at PT-FI Grasberg. During extensive discussions in 2021, the Copper Mark considered available standards and guidance on how to manage riverine, ocean and lake tailings systems. We believe it is essential to engage with copper producers operating in complex environments with a view to increase transparency and provide independently verified information on how sites prevent, minimize and remedy negative impacts.”