The Copper Mark, the International Lead Association (ILA), the International Zinc Association (IZA), the Nickel Institute and the Responsible Minerals Initiative have announced the Joint Due Diligence Standard for Copper, Lead, Nickel and Zinc has been approved by the London Metal Exchange (LME).
The parties said the Joint Standard has now been confirmed through an independent standard alignment assessment to be wholly OECD-Aligned. Using the Joint Standard enables producers of LME Brands to demonstrate compliance with the LME's Responsible Sourcing requirements.
The Copper Mark explained that the Joint Standard considers the risk profile of copper, lead, nickel and zinc supply chains and is designed to enable adequate due diligence for producers and traders of these metals.
It builds on existing standards and looks to provide flexibility for multi-metal producers to include any associated metal products of their site(s) as needed.
Nicole Hansen, responsible sourcing manager at the LME, said the Joint Standard would play "a significant role for producers" and enable LME brands to comply with sourcing requirements.
Michele Brulhart, executive director of the Copper Mark, described it as "an important step towards enhancing due diligence processes for copper, nickel, lead and zinc."
