A third of Peruvian copper mine production from sites awarded The Copper Mark.
With two more mining sites obtaining The Copper Mark in August, Peru demonstrates a major step towards assured responsible production. The second largest copper mined producer in the world, the country now has more than 30% percent of its mined production coming from assured responsible sites via The Copper Mark framework.
In Peru five mine sites have now achieved The Copper Mark: Mine Justa (Marcobre), Cerro Verde (Freeport-McMoRan), Condestable (Southern Peaks Mining), and since late August 2024 two mining sites from Southern Peru Copper Corporation (SPCC), Cuajone and Toquepala. In addition, the Ilo smelter unit at SPCC also obtained The Copper Mark.
60 percent of Peruvian molybdenum production from sites awarded The Molybdenum Mark
The two mining sites of Southern Peru Copper Corporation, Cuajone and Toquepala are also producing molybdenum and have received The Molybdenum Mark. This means, that combined with Cerro Verde, 60 percent of national molybdenum production in Peru now comes from independently assessed responsible producers.
Independent assurance framework
The Copper Mark organization is the leading independent assurance framework, setting rigorous standards for environmental protection, social responsibility, and corporate governance (ESG) within the copper, molybdenum, nickel and zinc value chains.
Executive Director of the Copper Mark, Michèle Brülhart: “Our framework provides a structured approach towards achieving responsible mining practices, offering clear guidelines and benchmarks for its users. By adhering to these standards, participants not only mitigate environmental impacts but also foster positive social outcomes, contributing to the well-being of local communities and stakeholders.”
Energy transition
The Copper Mark’s independent assurance framework enhances the competitiveness of Peruvian copper, molybdenum and zinc in the global market, catering to the growing demand for responsible produced minerals. Metals are essential for the global shift to sustainable energy. They are the foundation for wind turbines, solar panels, power grids, electric vehicles and more.
Improved market access
Having The Copper Mark also enables companies to comply with rules on responsible sourcing of the London Metal Exchange (LME), the leading metals trading platform. As consumers and investors alike demand greater transparency and accountability, assurance under the Copper Mark serves as a badge of credibility and trustworthiness.
Continuous improvement
The Copper Mark assurance framework awards are valid for three years and then reassessed. As The Copper Mark framework is characterized by a process of continuous improvement, criteria are evaluated against new global practices and standards and updated such as those adopted in October 2023 on climate change and circular economy.
About The Copper Mark
The Copper Mark is the leading independent assurance framework that promotes responsible practices in the copper, molybdenum, nickel and zinc industries, focusing on environmental protection, social responsibility, and corporate governance. Through its assurance process, The Copper Mark empowers companies to demonstrate their commitment to responsible practices and accountability. The Copper Mark explicitly targets the entire value chain. Producers in mining, smelting/refining and manufacturing can apply for the Copper Mark, the Molybdenum Mark, the Nickel Mark and/or the Zinc Mark by meeting the responsible production and sourcing criteria as defined in the Risk Assessment (RRA) Criteria Guide jointly issued by The Copper Mark and the Responsible Minerals Initiative (RMI). In total, this covers 33 different criteria, independently assessed on site by third parties.
This press release is sent to you by Bureau van Sintnicolaas, the media relations agency of The Copper Mark. For questions, please contact us by email or phone, tilly@bureausintnicolaas.nl or +31 703851802.