Business and Biodiversity

Newmont Mining Corporation

The overall objective of the collaboration agreement between IUCN and Newmont Mining Corporation is to identify ways the company can meet its global targets to achieve a no net loss for biodiversity, and net gains, where possible.

From 2018-2020, IUCN and Newmont will explore the company’s on-site and operational management systems on mining impacts, as well as its activities related to restoration and offsets, in order to ensure better biodiversity outcomes.

As part of the agreement, Newmont asked IUCN and its experts – including representatives of IUCN Member organizations and its Commissions – to conduct independent reviews at select mine sites using the IUCN Biodiversity Net Gain Protocol

The first site visit was conducted in August 2018 at Newmont’s operations in Nevada, USA, and future visits are planned for the Company’s other regions. Data gathered through the reviews will be used to design and implement enhanced biodiversity conservation programs at Newmont’s global mine sites and for knowledge sharing with IUCN members.

Background

Based in Colorado, USA, Newmont is one of the world’s leading gold and copper producers with operations in Africa, Australia, North and South America. The company has a stated goal of no net loss of key biodiversity values (KBVs) in its areas of influence. The company is also a founding member of the International Council on Mining and Metals (ICMM) and has committed to not explore or mine in World Heritage Sites and report on their sustainable development performance in line with Global Reporting Initiative guidelines, with annual third party assurance.

IUCN is committed to helping business measure and value their impacts and dependencies on nature, including identifying new tools and processes that can help them achieve their biodiversity targets.  Furthermore, a no net loss or a Biodiversity Net Gain approach follows the mitigation hierarchy framework to avoid, minimise, rehabilitate and finally compensate for residual damage, where appropriate.  Where the net gain exceeds no net loss, the term biodiversity net gain may be used instead.


 

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