The initiative will bring together governments, private sector companies, academic and research institutions to promote sustainable mining practices in resource rich developing countries, with initial support from Rio Tinto, Anglo-American, and the German government.
Climate-smart mining has been developed in concert with the broader UN sustainable development goals to ensure that the benefits from the transition to low-carbon technologies are shared.
It will innovate and deploy financing to scale up technical assistance and support for projects such as:
- The integration of renewable energy into mining operations
- The strategic use of geological data for a better understanding of ‘strategic mineral’ endowments
- Forest-smart mining: preventing deforestation, supporting sustainable land-use practices and repurposing mine sites
- Recycling of minerals: supporting developing countries to take a circular economy approach and reuse minerals in a way that respects the environment
- The Facility will also assist governments to build a robust policy, regulatory and legal framework that promotes climate-smart mining and creates an enabling environment for private capital.
