Veramark Assurance and the Consolidated Mining Standard

The World Gold Council is a founding partner of the Consolidated Mining Standard Initiative (CMSI), alongside The Copper Mark, The ICMM and The Mining Association of Canada. The CMSI has worked for several years to bring together the strengths of the partner organisations’ four established mining standards into a single global framework for responsible mining, intended to drive impact at scale.

The Consolidated Mining Standard has been developed through a multi-stakeholder process involving the mining industry, downstream customers, investors, civil society organisations, indigenous representatives and other stakeholders. It is designed to set out a comprehensive approach to responsible mining for all commodities, and all mining companies, reducing complexity, and strengthening transparency.

The Copper Mark is evolving into Veramark, which will oversee the Global Mining Standard going forward, as well as the associated Assurance Process and Claims Policy. The Veramark Board, comprising of a balanced mix of representatives from both industry and stakeholders, will be responsible for launching and overseeing the Global Mining Standard. Over time, the intention is for World Gold Council Member organisations to transition from implementing the WGC’s Responsible Gold Mining Principles to adopting the Consolidated Mining Standard.