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News Article

Ministry of Economy and the UN to Promote Sustainable Mining

By Fernando Mares | Mon, 10/03/2022 - 15:51

Modern-day mining companies are interested in incorporating greener technologies and processes. Aiming to promote these practices, the Minister of Economy (SE) signed an agreement with the UN to monitor, identify and evaluate the sustainability actions taken by mining companies. 

Minister of Economy Tatiana Clouthier said she signed an agreement with the UN’s International Center of Excellence on Sustainable Resource Management (ICE-SRM) to join efforts to monitor and identify sustainable-minded practices of mining companies. According to the government, this project is of great importance since its main objective is to promote social development and, at the same time, counter climate change.

The project is part of the initiative Extractive Industries: Transition to Sustainable Systems, presented by UN Secretary-General Antonio Guterres in 2021. The program is part of the global efforts to comply with the Sustainable Development Goals of the UN’s 2030 Agenda.

ICE-SRM will quantitatively and qualitatively analyze the elements of the mining value chain comprising of exploration, development and closure. The center will work considering technical, economic, social, regulatory and environmental standards set by the UN Framework Classification (UNFC) and the UN Resources Management System (UNRMS). ICE-SRM said that by identifying challenges and opportunities, the government, the industry, academics and civil society will be able to objectively and effectively identify viable actions for the sector, or define proper strategies regarding sustainability. 

The project is founded on proposals made by Columbia University’s Center for Sustainable Investment, the UN Development Program, the UN Sustainable Development Solutions Network and the World Economic Forum, which issued a document called Mapping Mining to the SDGs: An Atlas. 

On Sept. 30, 2022, MBN reported that the Mexican Mining Chamber (CAMIMEX) acknowledged affiliated members for their important investment in clean energy usage, which by the end of 2022 is expected to reach US$51.3 million, the highest level of investment the chamber has registered. In 2021, the sector invested US$36.5 million in clean energy. CAMIMEX said that one of the main challenges to the sector’s energy efficiency is the government’s continuous alteration of the electricity industry and mining regulation, as well as the interruption of permits granted by the Energy Regulatory Commission and the Ministry of the Environment and Natural Resources (SEMARNAT) 

Despite these challenges, the sector will become more sustainable as it remains of the most regulated economic activities in the country. To operate, mining companies must gain several environmental permits and conduct studies to determine the ecological impact of a project.
 

The data used in this article was sourced from:  
MBN, El Sol de México
Fernando Mares Fernando Mares Junior Journalist and Industry Analyst