Freeport-McMoRan has achieved the Copper Mark at its PT-FI Grasberg operation in Indonesia, meaning that all 12 of its copper producing operations globally now have the distinction.
Freeport’s two primary molybdenum sites, the Climax and Henderson operations, were awarded the Molybdenum Mark by the independent panel, which was formed as an assurance framework to promote responsible production practices for copper.
The extensive, independent onsite assessment of PT-FI Grasberg confirmed the site’s conformance with the current Copper Mark expectations and standards, including the Interim Tailings Guidance.
The Copper Mark is also developing additional guidance for any participating sites that are identified as having significant long term environmental or social impact issues. Once finalized, PT-FI Grasberg will be required to demonstrate conformance with these additional requirements through onsite third-party assurance.
“We congratulate Freeport-McMoRan for achieving the Copper Mark at all of its copper operations globally and we are thrilled to see the company continue its commitment to demonstrating its responsible production practices with its two primary molybdenum sites to receiving the Molybdenum Mark,” said Copper Mark executive director Michèle Brülhart.
“We recognize the significant impacts caused by the riverine tailings system at PT-FI Grasberg. During extensive discussions in 2021, the Copper Mark considered available standards and guidance on how to manage riverine, ocean and lake tailings systems. We believe it is essential to engage with copper producers operating in complex environments with a view to increase transparency and provide independently verified information on how sites prevent, minimize and remedy negative impacts.”
Copper Mark participants commit to fully meet the Copper Mark’s standards within two years of signing up to the assurance process and to continuously strengthen practices as these standards continue to be updated to align with increasing stakeholder expectations on ESG.
The Copper Mark seeks to promote transparency and accountability of its participants in general and especially in the case where a participating site manages complex issues that have significant environmental or social impacts. PT-FI Grasberg operates a riverine tailings management system which the Copper Mark recognizes as one such issue.
Source: coppermark.org