Italy Joins US-Led Mineral Security Partnership for Ethical Mining
Italy has become the latest country to join the U.S.-led Mineral Security Partnership that promotes ethical mining. The U.S. Undersecretary of State for Economic Growth, Energy, and the Environment, Jose Fernandez, made the announcement while attending the Investing in African Mining Indaba, or conference.
In his keynote address, Fernandez said members of the Mineral Security Partnership — which now include Italy, 11 other countries and the European Union — will soon announce details of their environmental, social and governance principles.
He said the aim of the partnership, announced in June last year, was to add ethical values to the entire critical minerals and batteries value chain.
“We want to involve the communities affected by potential projects and the decision-making process. And if you were to say that we’re doing this to protect our bottom line, you’d be partly right. We’ve seen too many instances around the world, some going on right now in South America, where community opposition has led to the closure of otherwise profitable mines,” he said.
But Fernandez said the MSP also wants to protect the environment. He said in their meetings with potential partners, it’s been clear that many companies want to do the right thing for the planet.
“They won’t make investments in projects that destroy precious rain forests, that are not committed to the remediation of mines, that require pay-offs to government officials. They just won’t do it. Their shareholders won’t allow it. Their customers will reject them and our laws will punish such conduct,” he said.
Fernandez said that’s why many companies have joined the United States Public Private Alliance on responsible minerals trading. Read More…
