Rio Tinto (RIO -0.5%) and Anglo American (OTCQX:AAUKF, OTCPK:AAUKY) say they are joining a World Bank initiative intended to help developing countries sustainably mine lithium, cobalt and other minerals critical to global electrification.
The companies' participation in the Climate-Smart Mining program set to launch in May comes as miners face increasing pressure to make supply chains more sustainable while reducing climate impact.
Rio says it will offer technical consulting advice and contribute $1M over five years to the program, joining efforts by the World Bank to raise $50M from the private sector.
"Society’s expectations of mining have increased and this has now extended into the investment community in an even greater way," Arnaud Soirat, Rio’s head of copper and diamonds, tells delegates at the CRU World Copper Conference in Santiago, Chile.
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