Veladero, a prominent mining operation, has accomplished a significant milestone by attaining compliance with the Towards Sustainable Mining (TSM) Standard. This achievement has earned Veladero a special distinction from the Argentine Chamber of Mining (CAEM) during the prestigious Arminera 2023 summit, the country's premier event in the mining industry.
The successful completion of the TSM verification process showcases Veladero's unwavering dedication to society, particularly its employees, neighboring communities, and future generations, in the pursuit of sustainable mining practices. Marcelo Álvarez, Executive Director of Government Relations for Barrick South America, expressed his satisfaction with this achievement, emphasizing the mine's commitment to openness, transparency, and social accountability.
The transformation journey at Veladero spanned a four-year period of intensive efforts involving all departments within the company. It entailed annual self-assessments, action plans to enhance compliance with protocols, external verifications, and a significant milestone of hosting the Independent Interdisciplinary Advisory Panel of the TSM program at the mine last November.
The Towards Sustainable Mining Program, developed by the Mining Association of Canada (MAC), establishes rigorous standards and controls to ensure responsible and transparent mining operations. It comprises protocols with ratings that encompass various crucial environmental and social aspects, including biodiversity conservation, community engagement, human rights, and mine closure, among others.
Participating companies undergo a self-assessment, which is then validated by independent auditors accredited by MAC. The process also involves a voluntary and independent Interdisciplinary Advisory Panel consisting of community members and civil society representatives.
During the recent Arminera summit in May 2023, Pierre Gratton, President and CEO of MAC, commended Argentina for being the first country to join the TSM initiative in 2017. He highlighted that numerous other countries, such as Brazil, Colombia, Mexico, Guatemala, Panama, Spain, Norway, Finland, and Australia, have embraced TSM, making it the most widely adopted standard for ensuring industry quality and control in an increasingly environmentally conscious world.
