Rio Tinto to join World Bank’s green mining program (Reuters U.S. – April 9, 2019)

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SANTIAGO (Reuters) – Rio Tinto said on Tuesday it will join a World Bank initiative intended to help developing countries sustainably mine lithium, cobalt and other minerals critical to the global electrification trend.

Rio’s participation in the program, known as Climate-Smart Mining and set to launch in May, comes as miners face increasing pressure from investors and non-governmental organizations to make supply chains more sustainable while reducing climate impact.

The program “will innovate and deploy financing specifically designed to manage the clean energy transition – responsibly, pragmatically and sustainably,” Arnaud Soirat, Rio’s head of copper and diamonds, said in a Tuesday speech at CRU’s World Copper Conference in Santiago.

“Significant challenges will likely emerge if the climate-driven clean energy transition is not managed sustainably,” according to a World Bank presentation.

Rio plans to offer technical consulting advice, as well as contribute $1 million over five years to the program, according to a spokesman, joining efforts by the World Bank to raise $50 million from the private sector.

For the rest of this article: https://www.reuters.com/article/us-chile-mining-rio-tinto-plc-int/rio-tinto-to-join-world-banks-green-mining-program-idUSKCN1RL1U0

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