Tenke Fungurume Mining S.A. ("TFM”) of CMOC Group Ltd. ("CMOC”), a copper-cobalt mine in the DRC, was officially awarded The Copper Mark certificate in recognition of its responsible production practices, making TFM the first mine in Africa to be awarded The Copper Mark.
The Copper Mark is a leading assurance framework launched in 2020 to meet the increasing international demand for responsible sourcing and production, and to promote responsible practices across the copper, molybdenum, nickel and zinc value chains. The Copper Mark is based on the independent third-party assessment of mines and smelters to verify that each facility meets the requirements of responsible production practices.
The requirements of the Copper Mark cover all major environmental, social and governance (ESG) issues, and copper producers who receive The Copper Mark will automatically be able to meet all three of the London Metal Exchange's (LME) Responsible Sourcing Requirements, namely Responsible Sourcing, Environmental, and Occupational Health and Safety Management Systems.
TFM is currently the world's fifth largest copper mine and the second largest cobalt mine, with five production lines and an annual copper capacity of 450,000 tons. In May, TFM produced over 40,000 tons of copper. As a critical metal for the future, copper is essential for achieving global net-zero carbon emission targets and meeting the electricity demands of artificial intelligence development.
Recent years have seen a tight global copper supply due to insufficient capital expenditure and declining ore grades. With its major projects, TFM and KFM, CMOC stands out as one of the few large-scale mining companies maintaining high growth in copper production, rapidly becoming a key global producer. According to 2024 production guidance, CMOC will add 150,000 tons of copper production, marking the largest increase in the industry this year.
Liang Wei, Vice President of ESG at CMOC, remarks that The Copper Mark is a voluntary program for all industry members, and that TFM began a series of preparations in 2022 and formally launched the validation process in 2023. In early 2024, TFM was independently assessed by an international audit team accredited by The Copper Mark.
The validation process of The Copper Mark was conducted using the 32 different criteria of the Risk Readiness Assessment (RRA), that is codeveloped by the Responsible Minerals Initiative (RMI) and The Copper Mark and includes issue areas such as legal compliance, labor relations, environmental management, greenhouse gas emissions, water management, mine closure and reclamation, community development, grievance mechanisms, stakeholder communication, and due diligence in mineral supply chains, which covers the entire production process of copper and cobalt products, from mining and beneficiation to smelting. During the audit, 447 employees and contractors as well as 56 external stakeholders such as community members, non-governmental organizations and government representatives were interviewed anonymously to fully validate the effectiveness of the management system.
“The Copper Mark certification underscores CMOC's commitment to high ESG standards and continuous improvement. It demonstrates responsible production to all stakeholders and enhances product recognition on exchanges like LME, potentially leading to premiums,” said Liang Wei.
Sun Ruiwen, President of CMOC, said, “In recent years, CMOC has become a leading copper producer and the largest cobalt producer globally. While boosting production we have remained committed to delivering high-quality, responsible products essential for the global energy transition. We are very pleased that TFM is the first mine in Africa to receive The Copper Mark. This prestigious recognition highlights our dedication to sustainable development benefiting not only our customer's but also the broader public. This achievement sets a new standard for responsible mining on the continent and reflets the increasing global focus on environmental, social and sustainability governance. Consumers worldwide are increasingly ensuring that the materials they purchase adhere to responsible operating practices. Receiving The Copper Mark also encourages us to create jobs, expand investments, and generate greater economic and social value in DRC.”
By the end of 2023, more than 70 mines and smelters had participated in The Copper Mark Assurance Process, of which 56 sites had been awarded The Copper Mark. The total output of mines awarded The Copper Mark reaches 30% of the world's copper production.
About CMOC
CMOC Group Limited was founded in 1969 and is a privately managed company listed on the Hong Kong in 2007 and the Shanghai stock exchanges in 2012. CMOC is an international company specializing in the exploration, mining, processing, refining, marketing, and trading of rare metals. The company's main assets and operations are located in Asia, Africa, South America, and Europe. The company is one of the world's largest producers of tungsten, molybdenum, and niobium, the largest cobalt producer, and a global leading copper producer. It is also the second-largest producer of phosphate fertilizers in Brazil. In terms of business activities, the company ranks among the top three base metals traders in the world. In line with its dedication to positive environmental and social impact, the company invests heavily in ESG (Environmental, Social, Governance) initiatives, resulting in the creation of over 32,000 jobs.
