The Australian minerals industry has adopted TSM – a globally recognised accountability framework which supports minerals companies evaluate, manage and communicate their site-level sustainability performance.
TSM is overseen by a national Community of Interest Advisory Panel, comprising representatives from key stakeholder groups, including First Nations, communities, investors and non-government organisations, among others.
TSM will help local communities to know more about mining site level where mining occurs and independently verified on a regular basis.
By providing a consistent approach to assess and communicate site level performance in a transparent and accountable way.
TSM in Australia will be administered by the MCA. Like Enduring Value, TSM will be a future expectation of MCA membership.
Adopting the independently verified system reinforces the sector’s commitment to continual improvement in safety, environmental and social governance (ESG).
TSM strengthens Enduring Value – the Australian minerals industry’s sustainable development framework – by providing a consistent approach to assess and communicate site level performance in a transparent and accountable way.
Understanding and communicating this performance consistently and transparently benefits local communities, government, investors, companies and customers, enhance trust and confidence in the industry’s management performance.
Facilities annually self-assess their performance against all indicators under the TSM protocols using a benchmark rating system. These results are published on the websites of the national mining associations that implement TSM.
Every three years, a trained and accredited verifier critically reviews a company’s self-assessments to determine if there is adequate evidence to support the performance ratings reported. Verifiers are experienced independent auditors and technical experts. Verifiers are able to change companies’ self-assessed ratings to ensure they accurately reflect evidence of the facility’s management practices and performance.
In the year of external verification, a company’s CEO, or equivalent, is required to submit a letter is required to publish a letter alongside their performance results that confirms the external verification has been conducted in accordance with the
Terms of Reference for Verifiers. These letters are posted alongside companies’ published results on the websites of their national mining associations.
Each year, the Community of Interest Advisory Panel selects a sample of companies to present and discuss their TSM results. The review process allows the national advisory body to examine facilities’ management systems and processes and to engage in dialogue around the challenges faced by facilities around key sustainability issues.
Supply chains and customers need minerals and metals sourced to a higher standard. TSM is a globally recognised sustainability program that supports mining companies in managing key environmental and social risks.
