{"id":1112205,"date":"2019-04-23T10:44:52","date_gmt":"2019-04-23T10:44:52","guid":{"rendered":"http:\/\/www.mining.com\/?p=983807"},"modified":"2019-04-23T10:44:52","modified_gmt":"2019-04-23T10:44:52","slug":"lme-gets-tougher-on-companies-with-ties-to-child-labour-corruption","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1112205","title":{"rendered":"LME gets tougher on companies with ties to child labour, corruption"},"content":{"rendered":"

The London Metal Exchange (LME), the world\u2019s biggest market for industrial metals, said Tuesday<\/a> it would only allow responsibly sourced brands to trade on the platform from 2022, as part of increasing efforts to root out ore mined using child labour<\/a>.<\/p>\n

The initiative, one of the main steps ever taken by the organization to clean up the global supply chain of all its commodities, will require all listed brands to undertake a Red Flag Assessment by the end of 2020.<\/p>\n

LME-approved traders will also be expected to work towards meeting environmental as well as occupational health and safety standards.<\/q><\/p>\n

The new rules seek to ensure all producers operating in high-risk areas or conflict zones, meet international guidelines on responsible sourcing. Otherwise, they will be either banned or delisted from the 142-year-old exchange.<\/p>\n

Additionally, members will be required to publish fully all of their supply-chain information by 2024.<\/p>\n

The decision follows several reports published between 2017 and 2018 warning about\u00a0minors were being exploited<\/a>\u00a0to extract some metals, particularly cobalt, which is used in the making of batteries that power electric vehicles (EV) and high tech devices.<\/p>\n

It also comes after members of the century-old trading platform have raised concerns about questionable companies joining the exchange.<\/p>\n

\u201cGlobal consumers rightly demand action on responsible sourcing \u2013 and our industry must listen,\u201d LME chief executive Matt Chamberlain said in a statement<\/a>.<\/p>\n

LME-approved traders will also be expected to work towards meeting environmental as well as occupational health and safety standards.<\/p>\n

The exchange, the world\u2019s most influential non-ferrous metal trading market, is the first to formulate and publish a responsible sourcing policy on copper, cobalt, aluminum, lead, zinc, nickel and tin.<\/p>\n

The post LME gets tougher on companies with ties to child labour, corruption<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Initiative could see it ban or delist brands that can’t prove they are responsibly sourced by 2022. <\/p>\n

The post LME gets tougher on companies with ties to child labour, corruption<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[394,2433,1071,868,869,870,424,405,404,369,438,2434,589,590,428],"tags":[9,32,33],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112205"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1112205"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112205\/revisions"}],"predecessor-version":[{"id":1112302,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112205\/revisions\/1112302"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1112205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1112205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1112205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}