ICMM’S MINING February 2020

PRINCIPLES
An introduction

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ICMM’S MINING PRINCIPLES
What are they?

1. ICMM’s Mining Principles define good practice

environmental, social and governance requirements for
the industry through a comprehensive set of performance
expectations.
2. Implementation is supported by robust site-level validation,
transparent disclosure of the outcomes and credible
assurance of corporate sustainability reports.
3. ICMM’s Mining Principles are a condition of membership for
company members. Applying to more than 650 assets in over
50 countries, ICMM’s Mining Principles seek to improve
performance improvements at scale.

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WHY NOW?
Increasing scrutiny of industry means that individual
companies must demonstrate how they are performing
across a range of ESG areas, at the asset level.

• Our members recognise that mining and metals are critically

important to society – from supporting the promotion of
sustainable economic growth and the building of resilient and
inclusive communities, to enabling the innovations needed to
address the urgency of climate change – but they must be
produced responsibly.
• ICMM’s Mining Principles will support our members to supply
the increasing demand for metals and minerals, while giving
confidence to customers and other stakeholders that they
have been produced responsibly.

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MEMBER REQUIREMENTS
Mining Principles: Demonstration of asset-level good
practice through enhanced environmental, social and
governance performance expectations.

Disclosure:
Position Statements: Incorporating robust site-
Offering standalone level validation and
positions on issues of corporate assurance
particular concern to mechanisms for the
society, and where a more credible management
detailed response has been and reporting of
or will be necessary. sustainability concerns.
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 PRINCIPLES
PERFORMANCE
EXPECTATIONS
MEMBER REQUIREMENTS CONTINUED

10. 10. 10.

1.1 1.2 1.3 2.1 2.2 3.1 3.2 3.3 4.1 4.2 4.3 5.1 5.2 6.1 6.2 6.3 7.1 7.2 8.1 8.2 9.1 9.2 9.3
1 1 3
10.
1.4 1.5 3.4 3.5 4.4 6.4 6.5 9.4
4
3.6

3.7 3.8
STATEMENTS
POSITION

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DISCLOSURE
Supporting robust site-level
validation of performance
expectations and
assurance of corporate
sustainability reports.
Assets subject to validation
include all operations involved
in the production
or refining of minerals and
metals over which a company
member exercises control.
Members are required to
disclose, publicly, their
validation activities on an
annual basis. These disclosures
will need to be either on the
member’s website or in their
sustainability or corporate report.
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VALIDATION TIMELINE
Members are
required to complete
a self-assessment
of all applicable
assets once every
three years.

Members are also

required to conduct
third-party
validation of
prioritised assets
within a three-year
validation cycle.

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VALIDATION OUTCOMES
Possible outcomes for the validation
of individual performance expectations
MEETS PARTIALLY MEETS DOES NOT MEET
• Systems and/or • Systems and/or • Systems and/or
practices related to practices related to practices required to
a performance a performance support
expectation are expectation are implementation of
being implemented. being partially the substantive
implemented. intent of a
• Sufficient evidence • Gaps or performance
to demonstrate that weaknesses persist expectation are not
the intent of a that may contribute in place, or are not
performance to an inability to being implemented,
expectations are meet the intended or cannot be
being met. outcome of a evidenced
performance
expectation.
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ADDING VALUE
Applying to more than 650 assets in over 50 countries,
they seek to drive performance improvements at scale.
• Stakeholders, including investors, downstream customers,
NGOs and local communities, require a considerable level of
transparency from the mining and metals sector. This can be
difficult in light of the remoteness of many assets, and the range
of areas in which due diligence must be carried out.
• The enhancement of ICMM’s membership requirements means
that stakeholders will be able to easily access information on
how companies are managing a full spectrum of environmental,
social and governance issues.
• With all company members disclosing on a comparable basis,
and at asset level, ICMM’s Mining Principles aim to both simplify
the due diligence process and – crucially – offer assurance that a
company is operating to the highest ESG standards.

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