In October 2019, the London Metal Exchange (LME) finalized its requirements on responsible sourcing for Brands. Starting 2023, LME Brands must be compliant with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas (OECD Guidance).
To support Brands in this effort, The Copper Mark, the International Lead Association(ILA), the International Zinc Association (IZA) and the Nickel Institute signed an agreement to develop a joint Due Diligence Standard. Facilitated by The Copper Mark, a working group has been established to develop the joint Due Diligence Standard. The group also includes other interested commodity associations, multi-metal company representatives, along with OECD and LME. Compliance of Brands with this Due Diligence Standard will be assessed using The Copper Mark’s Assurance Process.
The four organizations recognize that many companies produce multiple metals. With this collaboration, the commodity associations expect to significantly reduce administrative burdens, minimize costs and provide a mechanism for Brands to meet LME requirements using a single framework.
To read the complete announcement, go here: