Our regular newsletter aims to help you take control of your metallurgical accounting, process optimisation and sustainability reporting by embracing data.
In this edition we cover stricter climate reporting rules, new mining sector standards for the GRI, a delay to the Australian Government’s mandatory reporting rules and digital solutions to help you adapt fast. If you have questions or need more information, please get in touch.
The US Securities and Exchange Commission (SEC) adopted a new final rule on 6 March 2024 that significantly strengthens climate-related disclosure requirements. This marks a significant change for environmental, social, and governance (ESG) reporting, and companies will need to develop more robust reporting practices.
This new regulation will potentially impact on the ESG financial reporting strategies for mining and minerals organisations globally.
The voluntary GRI Standards are the most widely used sustainability reporting standards by businesses in 2022 with an adoption rate of 77%. Companies can choose to keep using these standards alongside mandatory standards including:
GRI actively supports these new standards and collaborates to ensure interoperability between them.
New GRI guidance for mining companies: In January 2024, GRI launched the GRI 14: Mining Sector Standard, following similar standards for Oil & Gas, Coal and Agriculture & Fishing.
The mandatory climate reporting regime introduced by the Australian Government for large companies has been postponed by 6 months to January 2025. This gives organisations more time to prepare for the new reporting requirements. Welcomed by some companies, the delay comes after pressure from investors who want better information on climate risks. For more information read the official release from Treasury.
Discover how our audit process helped a major gold plant identify and resolve gaps between calculated and actual production values that amounted to about 900 kilograms over three months.
Did you know that MI Core already enables you to meet the sustainability reporting essentials for mining and resources? In this detailed guide, we compare the three primary global frameworks ISSB, CSRD and SEC and explain how digital tools can smoothly transition you to the new era of legislated accountability.
Scope 3 accounts for a vast majority of emissions in energy-intensive industries, but many resources companies find it too hard to measure and report on – or struggle using spreadsheets. The good news is that with MI Core you are already equipped to report Scope 3 emissions. Learn how.
When you boil it down, the core sustainability and reporting challenge for resources and industrial organisations all comes down to DATA.
How data is collected, validated, managed and shared at every stage of the production process and product life cycle is key. Once you have established the right digital infrastructure, you are equipped to adapt to new and evolving frameworks and market shifts.
To discuss how our metallurgical accounting and process optimisation solution can help you streamline your operations and reporting, please contact our experienced team.
This article has been collaboratively authored by the team at Metallurgical Systems, and fact-checked and authorised by Managing Director and industry specialist John Vagenas.