IGF’s AGM focusses on sustainable mining practices

THE 20th Annual General Meeting (AGM) of the Intergovernmental Forum on Mining, Minerals, Metals, and Sustainable Development (IGF) convened in Geneva to tackle one of the most pressing issues of our time: how to meet the soaring demand for critical minerals while protecting people and the planet.

Hosted at the Palais des Nations by the United Nations Conference on Trade and Development (UNCTAD), the event drew over 800 participants from more than 100 countries, representing governments, international organizations, civil society, and industry.

Themed ‘Redefining Mining: Balancing the Need for Minerals with Protecting People and the Planet,’ the AGM focused on rethinking the governance of mining to ensure sustainable practices amid the global energy transition.

Transitioning to Green Energy with Responsible Mining

Pedro Manuel Moreno, Deputy Secretary-General of UNCTAD, opened the AGM by emphasizing the importance of translating the recommendations of the UN Secretary-General’s Panel on Critical Energy Transition Minerals into action.

His remarks were echoed by Mohato Moima, Chair of the IGF Executive Committee, who underscored the need for regional cooperation in mineral value chains to ensure equitable benefits during the energy transition.

“The communities affected by mining should not just survive but thrive,” Moima stated, capturing the meeting’s focus on uplifting communities and protecting the environment alongside the global push for cleaner energy.

According to the International Energy Agency’s (IEA) Global Critical Minerals Outlook 2024, achieving the 1.5°C climate goal under the Paris Agreement will require an investment of $800 billion in mining by 2040.

However, the report warned that without significant advancements in recycling and reuse of critical minerals, these investment requirements could increase by a third.

Key Themes and Discussions

Over three days and 12 formal sessions, the AGM delved into a wide array of topics to shape the future of mining governance:

• Critical Minerals and Accelerated Production: Discussions focused on how to meet surging demand for minerals essential to technologies like electric vehicles, wind turbines, and solar panels.
• Circular Economy in Mining: Circularity, including recycling and reuse of minerals, was highlighted as a critical strategy to reduce waste and lower investment needs.
• Local Value Addition: The forum examined ways to incentivize value addition within resource-rich countries, ensuring economic benefits remain local.
• Human Rights and Social Inclusion: Respect for human rights, gender equality, and the empowerment of marginalized groups were framed as integral to sustainable mining practices.
• Navigating Mining Standards: The growing complexity of global mining standards was discussed, with calls for harmonization to promote sustainability.
• Protecting Nature: Sessions emphasized mitigating the environmental impact of mining, including reducing greenhouse gas emissions and preserving biodiversity.

Challenges and Opportunities

The discussions came against the backdrop of rising mineral demand, fuelled by the rapid adoption of renewable energy technologies. China, a major player in global mineral production, loomed large in discussions as countries wrestled with how to compete while adhering to sustainability principles.

The social and environmental costs of mining were a recurring theme. Participants acknowledged progress in areas like work safety, community investment, and renewable energy use in mining operations.

However, they also highlighted significant gaps in reducing waste generation, curbing greenhouse gas emissions, and minimizing water consumption.

Broader Implications

The AGM’s outcomes are expected to shape the next decade of mining governance. As nations ramp up efforts to decarbonize their economies, the mining industry will need to address these challenges while aligning with global sustainability goals.

The role of non-metallic minerals (NMMs), often overlooked, was brought to the fore as critical to the energy transition. Meanwhile, advancements in disruptive technologies such as AI and automation were identified as potential game-changers for transforming mining practices.

A Global Imperative

The AGM served as a stark reminder that the green energy transition cannot come at the expense of people or the planet. Mining, a cornerstone of this transition, must be redefined to balance economic imperatives with social equity and environmental sustainability. As the IGF charts a course for the future, it calls on governments, industries, and civil society to collaborate in building a mining sector that powers the energy transition responsibly, equitably, and sustainably.