The International Council on Mining and Metals (ICMM) has updated its membership requirements, forcing companies to disclose their operational performance on a yearly basis.
Member companies are required to disclose activities in validating that their operation performance is in line with expectations.
ICMM expects the latest principle to apply to around 650 assets in over 50 countries.
BHP, Rio Tinto, Newcrest and Anglo American are only four of the 27 ICMM member mining companies, in addition to 36 member associations.
“Mining and metals are critically important to society – as a catalyst for sustainable social and economic progress and as essential materials for the technologies needed to address climate change – but they must be produced responsibly,” ICMM chief operating officer Aidan Davy said.
“Our aim has been to develop a holistic set of requirements that establish a benchmark for responsible mining practices.”
ICMM introduced a set of performance expectations in 2018 for how members are expected to manage sustainability issues.
The resulting principles address issues including labour rights, resettlement, gender, access to grievance mechanisms and mine closure.