Know About The Version 3.0 RRA Issued By RMI & Copper Mark

Know About The Version 3.0 RRA Issued By RMI & Copper Mark

Know About The Version 3.0 RRA Issued By RMI & Copper Mark

In a significant stride towards fostering ethical practices in the mining industry, the Responsible Minerals Initiative (RMI) and The Copper Mark have jointly unveiled a comprehensive set of criteria. This release includes the RMI’s Risk Readiness Assessment (RRA) and the Criteria Guide, version 3, developed collaboratively by RMI and Copper Mark. These resources are now readily available to the public, inviting engagement and participation from all stakeholders interested in responsible mineral and metal sourcing.

Background On RRA & RRA Criteria Guide:

The Responsible Raw Materials Assurance (RRA) initiative, instigated by the Responsible Minerals Initiative (RMI) around 2017, has undergone fulfillment by over 600 entities encompassing smelters, mines, refiners, recyclers, and manufacturers spanning a diverse array of metals. This endeavor has granted transparency to numerous downstream enterprises, relying on the self-assessment outcomes by RRA users voluntarily. 

The Copper Mark utilizes the Guide Criteria of RRA for their participants to fulfill and acquire the Nickel Mark, Copper Mark, Molybdenum Mark, or Zinc Mark. More than 80 locations currently engage in the Assurance Process of Copper Mark, subjecting themselves to an impartial evaluation by a third party of their practices on-site by the RRA Criteria Guide. 

Announcement Of The Criteria For Responsible Mining:

The Initiative for Responsible Minerals (IRM) and The Copper Mark unveil the introduction of the RMI’s Risk Readiness Assessment (RRA) and Copper Mark and RMI’s combined guide on criteria for responsible mining version 3.0. 

The Responsible Resource Alliance (RRA) establishes mineral-neutral standards for the ethical manufacturing, acquisition, refinement, and reutilization of metals and minerals. RRA 3.0 comprises 33 standards encompassing environmental, social, and governance (ESG) hazards. It outlines the diligence prerequisites and ethical guidelines for producing, acquiring refining, and reutilization of metals and minerals. Users can evaluate their performance against these benchmarks.

After introducing RRA version 3.0, the RMI is poised to synchronize its Environmental, Social, and Governance (ESG) Standards with the RRA. Presently, the ESG evaluation pertains to the organization level, and there are plans to broaden its scope to incorporate supply chain vulnerabilities. The efficacy of RRA version 3.0 started on January 1, 2024, and is applicable for companies keen on undertaking the updated RMI self-assessment offline of RRA. Additionally, it will be accessible from April 1, 2024, via the RBA-Online tool.

From January 1, 2024, the new participants under the Copper Mark must be evaluated based on the RRA Criteria Guide 3.0 requisites. Existing participants slated for assessment in 2024 can select between versions 3.0 and 2.0 of the RRA Criteria Guide. Subsequently, starting in 2025, all participants of the Copper Mark will be obligated to establish version 3.0 across their system.

The release of the Risk Readiness Assessment (RRA) and the joint Criteria Guide, version 3, by the Responsible Minerals Initiative and The Copper Mark signifies a pivotal moment for the mining industry. These resources empower companies to mitigate and assess risks to provide a comprehensive framework for responsible mining and metal production. As the industry collectively moves towards ethical and sustainable practices, approach Sunstream to comply by conflict mineral compliance and all other regulations connected with responsible mining.