Yahoo Finance Mongolia adopts Canada's Towards Sustainable Mining® initiative
ULAANBAATAR, Mongolia, Oct. 4, 2024 /CNW/ - Against the backdrop of Mongolia's National Mining Week, the Mongolian National Mining Association (MNMA) announced the adoption of Towards Sustainable Mining (TSM), a performance system developed by the Mining Association of Canada (MAC) that improves environmental and social practices in the mining sector.
As a result, MNMA and its affiliated companies will adopt a set of indicators that will allow them to measure and publicly report on the quality of its management systems.
"To meet the global demand for minerals and metals that we need to build the low-carbon world, today the Mongolian mining industry takes another big step in terms of sustainability. We have been pioneers in good practices worldwide. This standard will allow companies to measure and demonstrate their positive impact models in social and environmental matters," said Erdenetuya Ganbold, CEO of the MNMA.
MNMA is the 12th national mining association outside of Canada to adopt TSM, underscoring the program's growing global presence. Other countries' national mining associations currently implementing TSM include: Mexico, Guatemala, Columbia, Panama, Brazil, Argentina, Botswana, Australia, Philippines, Norway and Finland.
TSM is a globally recognized sustainability program that supports mining companies in managing key environmental and social risks. TSM was the first mining sustainability standard in the world to require site-level assessments and is mandatory for all companies that are members of implementing associations. Through TSM, nine critical aspects of social and environmental performance are evaluated, independently validated, and publicly reported against 35 distinct performance indicators.
"The most interesting thing about the TSM standard is that communities and other interest groups have the opportunity to participate actively so that they can learn about the commitments and progress during the implementation process of each participating company," added Ganbold.
"It is our privilege to share our tools and expertise in sustainable mining practices with the world. With Mongolia's adoption of TSM, we're proud to say that our made-in-Canada program is now in 12 countries on five continents. We applaud the Mongolian National Mining Association for taking this important step forward as it works to enhance its industry's environmental and social performance," stated Pierre Gratton, President and CEO, MAC.
Performance in TSM is evaluated across a set of detailed environmental and social performance standards, including climate change, tailings management, water stewardship, Indigenous and community relationships, equitable, diverse, and inclusive workplaces, safety and health, biodiversity conservation, crisis management and preventing child and forced labour. TSM helps drive performance improvement where it counts — at the site level — and contributes to securing support for mining activities from the communities where it operates.
"Exporting Canada's expertise in environmental and social stewardship is one important way that we can contribute to responsible mining practices around the world," said Gratton. "As a constantly evolving standard, TSM is particularly attractive globally due to its focus on climate change, effective tailings management and good practice in respectful engagement and collaboration with Indigenous communities, three focal points in our industry. Countries that adopt the program are openly committing to going beyond the word of the law when it comes to sustainable practices."
To ensure TSM reflects the expectations of civil society and industry stakeholders, it was designed and continues to be shaped by an independent, multi-interest advisory panel. As part of its implementation, MNMA will implement a similar body to provide this valuable oversight function.
ABOUT MNMA
The Mongolian National Mining Association is an independent, non-profit NGO that serves its members and has certified membership of enterprises and organizations that provide products and services in the field of mineral resources. Please visit www.miningmongolia.mn
ABOUT MAC
The Mining Association of Canada is the national organization for the Canadian mining industry. Its members account for most of Canada's production of base and precious metals, uranium, diamonds, metallurgical coal and mined oil sands, and are actively engaged in mineral exploration, mining, smelting, refining and semi- fabrication. Please visit www.mining.ca.
ABOUT TSM
The Towards Sustainable Mining® initiative is a sustainability standard developed by the Mining Association of Canada. Mining companies are expected to report annually on the implementation of each protocol. In addition, their performance results are evaluated by an external auditor every three years. Please visit www.mining.ca/tsm.
SOURCE The Mining Association of Canada
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