Australian resource

companies should adopt

Canada's TSM model: Cowden
AUSTRALIAN mining and exploration companies have been urged
to get on the front foot and adopt the Canadian-developed
“Towards Sustainable Mining” model so as to meet their ESG
obligations and set the agenda as to what is important in this
increasingly critical sphere.

Mine Risk Speaking at a Paydirt Unlocked luncheon in Perth this week, experienced
Management > resource sector executive Alistair Cowden suggested that as well as TSM being a
Events-coverage model that has been shown by Canadian companies to work, its adoption would
take the initiative from proxy advisors and other non-industry parties whose
Comments ESG ideas could be impractical, flawed and more onerous.
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He told MNN after the event he liked the TSM model for multiple reasons,
Michael Quinn including its "dynamic" nature - in so far as it could be modified and updated as
needs change - and the way it is self-assessed up until a company reaches the
higher levels where independent verification then kicks-in.

He said TSM created the "aspiration" to reach higher levels.

Broad adoption would allow companies to be compared on a like for like basis
versus the current situation where multiple different standards are in play.
The Cowden-chaired Mali gold producer Firefinch, for example, recently did an
audit at its Morila operation to IFC standards, which Cowden said was "rigorous
but hard to communicate".

He said TSM would be on Firefinch's agenda at upcoming meetings.

Cowden noted the success of Canada's adoption of the Australian JORC system
could be mirrored round the other way this time in the case of TSM.

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