Wisconsin approves bill to end ban on sulphide mining
The legislation was approved by a 53-38 vote and is now...
The Wisconsin Assembly has approved the repeal of the effective moratorium on sulphide mining.
The legislation was approved by a 53-38 vote and is now subject to Senate action.
Currently a mining company must prove that a sulphide mine is capable of operating for 10 years, and then closing for 10 years, without polluting groundwater or surface waters with acid rock drainage.
The almost unanimous legislation was passed in 1998 with bipartisan support, and was signed by the 42nd Governor Republican Tommy Thompson.
“This isn’t a moratorium. It just says certain conditions need to be met,” commented Gordon Hintz, D-Oshkosh, Assembly Minority Leader.
“Removing those conditions suggests there’s going to be some compromise of standards.”
The concern about this legislation is the environmental impact and integrity that could be put at risk all for the sake of short-term profits.
“The bill simple ends the moratorium and allows for the discussion to take place,” regarded Republican Rob Hutton, R-Brookfield.
“Mining is a part of our future, and it should continue to be a part of the discussion for our growth in the economy.”
Hutton continued to argue that legislation has no effect on the standards set by the state Department of Natural Resources.
De Beers passes Newmont to lead ESG ranking of global miners
The world’s biggest diamond producer may not be the first name that comes to mind in a ranking of top environmental, social and governance (ESG) performers. But that’s what the latest industry survey revealed.
De Beers scored the highest in London-based Alva’s quarterly rating of ESG perceptions this week gleaned from publicly available content from social media to NGO research. The unit of Anglo American Plc snagged the top spot in the first quarter from gold heavyweight Newmont due to an increased focus on equality and sustainability.
The report showed the mining industry as a whole lifted its ESG rating amid a string of greenhouse-gas pledges, which offset water management and waste concerns. Companies around the world, particularly raw-material producers, are stepping up sustainability efforts amid heightened scrutiny by the general public and investors. ESG and value-focused exchange-traded funds recorded net inflows of $89 billion in 2020, almost three times 2019 levels, according to Bloomberg Intelligence.
Sibanye Stillwater Ltd. scored the second-highest in Alva’s ratings report and showed the biggest improvement from the previous quarter due to its partnership with Johnson Matthey Plc to find more efficient uses of critical metals used in batteries.
Vale SA scored the lowest ESG rating despite reaching a settlement with Brazilian authorities over a 2019 dam disaster. Vale’s result “is a combination of greater visibility around the original negative story and then dissenting voices on the settlement itself,” said Alastair Pickering, co-founder and chief strategy officer at Alva.