The traceability of critical minerals is vital in helping the mining industry access investment and improve its reputation, say technology and supply chain experts. Speaking during the Critical Minerals Association (CMA) webinar titled ‘ESG: Track, Trace and Provenance,’ Jeff Townsend, the CMA’s chief operating officer, said traceability can “open up” new opportunities for positive publicity and investment for the mining industry.
The issue of traceability has become more prominent in the mining industry as stakeholders look to cut carbon emissions in supply chains and abide by environmental, social, and governance (ESG) regulations.
Douglas Johnson-Poensgen, founder and chief executive officer of supply chain technology company Circulor, said the COP26 summit emphasised the importance of traceability and the technologies that enable it, claiming that it is now a necessity for investment.
According to Johnson-Poensgen, the most significant change in attitude towards ESG goals has come from the financial segment. He insisted that operators and stakeholders can make the industry more attractive to institutional investors by improving the traceability of commodities.