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Responsible Mining: Unlocking Business Potential through IRMA Compliance

In the realm of ESG discussions, there is a prevalent disinterest stemming from the perception that ESG adds minimal value, particularly among industry managers and stakeholders in extractive operations. However, what if I told you that the journey toward an IRMA (“Initiative for Responsible Mining Assurance”) compliance audit can serve as a transformative process, propelling your business to unprecedented heights?

IRMA Compliance scrutinizes four pivotal dimensions of a business:

1. Business Integrity: Encompassing legal aspects, community engagement, human rights, stakeholder rights, and financial transparency on both cost and revenue fronts, including Mineral Supply Chain and responsible sourcing.

2. Positive Legacies: Focusing on the management of environmental and social impacts, addressing informed consent, community support, benefits, resettlement, emergency preparedness, reclamation, and financial closure.

3. Social Responsibility: Emphasizing labor practices, health and safety for workers and communities, conflict and risk management, security, artisanal mining, and cultural heritage.

4. Environmental Responsibility: Monitoring all emissions—waste, water, air, noise, vibration—and assessing biodiversity and ecosystem impacts.

Imagining the process of achieving compliance in all these dimensions necessitates a comprehensive review of the entire business. Incorporating a technical review at this stage and developing a business financial model that integrates the mentioned elements provides a powerful tool. This tool not only ensures compliance with IRMA standards but also allows for business optimization, enhancing responsible mining practices.

Often, mining companies prioritize responsible practices without thoroughly assessing the technical solutions employed. The rapidly advancing landscape of sustainable technology offers operational and financial benefits that surpass traditional methods. By incorporating steps like technical appropriateness and comprehensive financial modeling, operations—both existing and new—can be stress-tested in a real-world context.

This approach not only yields an IRMA compliance score but simultaneously enhances business outcomes. To navigate such transformative periods effectively, comprehensive training becomes indispensable, ensuring that the business is well-equipped and poised for the future.

At Crane Ridge, we have streamlined this approach, integrating ESG, ISO and IRMA compliance into each business day saving our clients significant time and resources while fostering positive changes in their businesses. email and we can start your journey to improvement today.

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