In 2003 International Council on Mining and Metals (ICMM) adopted 10 Principles for Sustainable Development. These principles represent the global industry’s commitment to manage social, health, safety, environmental and economic issues to deliver sustainable shareholder value, improve performance and publicly report on the industry’s progress. Having been instrumental in the development of ICMM Principles, the Minerals Council of Australia (MCA) identified an important role at the regional level to extend the ICMM principles to a broader audience and facilitate site level implementation.
To achieve this, in 2005 the MCA launched Enduring Value – the Australian minerals industry framework for sustainable development.
In 2012 the MCA Board of Directors initiated a review of Enduring Value. This provided an opportunity to bring the framework up-to-date with global initiatives in the areas of human rights and materials stewardship. It also allowed for the framework to be simplified, reflecting the extent to which the principles of sustainable development have been integrated into company practices. The revised Enduring Value:
• Continues to align with the ICMM’s 10 Principles of Sustainable Development
• Translates each principle into defined actions
• Identifies a set of indicators for each principle that should be evident across companies that operate in accordance with Enduring Value
• Relies on verifiable outcomes rather than compliance with process to assess whether practices are consistent with the principles
• Supports continued excellence in public reporting on performance in the areas of health and safety, environment and community benefit
• Assists the industry to operate in a manner that is attuned to the expectations of the community.
Minerals Council of Australia. (2015). Enduring value (2015 edition). Retrieved from http://minerals.org.au/sites/default/files/190503%20Enduring%20Value%20Principles.pdf