ALEXANDRIA, Va., April 18, 2023 – The Responsible Minerals Initiative (RMI) of the Responsible Business Alliance (RBA) today announced the RMI’s Global Responsible Sourcing Due Diligence Standard for Mineral Supply Chains - All Minerals has achieved recognition by the London Metal Exchange (LME). This is the sixth RMI standard to be conditionally approved by the LME and it is an important due diligence tool for battery materials and the green energy transition.
The RMI’s Global Responsible Sourcing Due Diligence Standard for Mineral Supply Chains - All Minerals is a mineral-agnostic standard applicable to single-metal as well as multi-metal facilities producing, sourcing and processing metals worldwide. The standard is grounded in the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas and is designed to verify the responsible sourcing practices of metal processors, integrated processing and mining operations, and independent mining operations as well as upstream traders and exporters.
This marks another milestone in the number of RMI standards that have been conditionally approved by the LME, now six in total, which are listed below. These standards are also available for disclosure on LME’s digital credentials register, LMEpassport.
RMI standards focused on the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affect and High-Risk Areas:
- RMI All Minerals Standard
- RMI Tin and Tantalum Standard
- RMI Cobalt Refiner Supply Chain Due Diligence Standard
- Joint Due Diligence Standard assessed with the RMAP
- ITA-RMI Tin Assessment Criteria assessed with the RMAP
The RMI continues to work closely with the LME to complete the full approval process of the OECD Due Diligence Guidance-based standards, which are all now conditionally approved in line with LME’s alignment policies and the OECD’s methodology.
RMI standard focused on environmental, social and governance risks:
- RMI ESG Standard for Mineral Supply Chains
The RMI Environmental, Social & Governance (ESG) Standard for Mineral Supply Chains was recognized by the LME as functionally equivalent to ISO 41001 and ISO 45001. This allows auditees to meet LME’s requirements on environmental management and occupational health and safety management through a single audit.
“These recognitions represent a significant benefit for RMI auditees that are listed on the London Metal Exchange, allowing minerals processors to leverage RMI assessments to demonstrate alignment with LME’s responsible sourcing requirements,” said Jennifer Peyser, Executive Director of the Responsible Minerals Initiative. “This maximizes the value of RMI assessments and reduces the risk and burden of audit duplication while advancing companies’ due diligence efforts.”
All RMI standards can be viewed here on the RMI website.
About the Responsible Minerals Initiative
The Responsible Minerals Initiative (RMI) is an initiative of the Responsible Business Alliance (RBA). The RMI is a multi-industry initiative with more than 400 member companies. Its members contribute to the development and international uptake of a range of tools and resources focused on minerals supply chain due diligence, including independent third-party audit programs for smelters, Minerals Reporting Templates, supply chain risk assessment tools, Country of Origin data, and guidance documents on responsible sourcing of all minerals/metals. The RMI runs regular workshops on responsible sourcing issues and contributes to policy development with civil society organizations and governments. For more information, visit ResponsibleMineralsInitiative.org
About the London Metal Exchange
The London Metal Exchange is the world centre for industrial metals trading. Most of the world’s non-ferrous metals business is conducted on the LME totalling $15.2 trillion, 134 million lots and 3.1 billion tonnes in 2022. The metals community uses the LME, an HKEX Group company, as a venue to transfer or take on price risk, as a physical market of last resort and as the provider of transparent global reference prices.
Jarrett Bens, Senior Director of Communications
Responsible Business Alliance
Phone: +1 571.858.5721