Spain’s national mining association, CONFEDEM, has announced that it will adopt the Mining Association of Canada’s Towards Sustainable Mining (TSM) standard.
The standard requires mining companies to perform an annual assessment of their facilities’ performance across key areas, including tailings management, community outreach, safety and health, biodiversity conservation, crisis management, energy use and greenhouse gas emissions management, and the prevention of child and forced labour. The results are freely available to the public and are externally-verified every three years.
CONFEDEM intends to integrate TSM into its own mining sustainability standard. This will add TSM elements, including external verification and the establishment of an independent Community of Interest Advisory Panel to monitor implementation and compliance.
CONFEDEM becomes the fifth national mining association outside of Canada to adopt TSM. It has been mandatory for all Mining Association of Canada members since 2004, and is also followed in Finland, Argentina, Botswana and the Philippines.
In addition to social benefits, TSM may offer host countries an investment advantage. Canada is home to many of the world’s top mining companies, and TSM provides them with a familiar environment for mining exploration and investment.