The International Council of Mining and Metals (ICMM) and the China Chamber of Commerce of Metals, Minerals and Chemical Importers and Exporters (CCCMC) have agreed to help promote sustainable development in Chinese companies’ mining investments overseas. The new agreement makes ICMM and CCCMC’s wealth of expertise available to Chinese mining enterprises that are looking to further improve their environmental and social performance practices as they step up their presence worldwide.
Chinese investment in mining abroad is a relatively new concept and Chinese mining companies are often newcomers in the economies of resource-rich countries. They are, however, increasingly becoming the most significant investor in many countries, and this is likely to continue, according to the ICMM.
“This new agreement will enable us to both learn from each other and further improve the environmental and social performance of the mining sector,” said Dr. Nicky Black, director of environment and social progress at ICMM. “Supplying the growing demand for metals and minerals sustainably is a challenge facing us all, and I believe that our new agreement with CCCMC will be a very productive partnership.”
“CCCMC is interested in working with ICMM, to complement each other’s strengths and to learn from each other,” said Sun Lihui, director, Development Department CCCMC. “This will help continually improve the risk management and governance of mining companies, enhancing business opportunities while reducing risks. Our strategic cooperation will advance sustainable development in the mining industry.”
CCCMC counts 6,300 companies as members and they are engaged in many aspects of minerals from mining to processing minerals for chemical production and agricultural uses.