Kumi Newsletter November 2024
It’s been another exciting month at Kumi.
We hosted our webinar on the EU Batteries Regulation with our partner Circulor. With over 400 participants listening to the discussion about the practical implications of the regulation and the incredible engagement through our Q&A, we advised companies on how to prepare for compliance ahead of the 2025 deadlines. Please help us to understand your company’s alignment with the EU Batteries Regulation, by checking out our anonymous three minute survey!
Whilst battery materials has been a key focus for us this past month, the world of responsible sourcing continues to grow in other sectors too. In our work below, Senior Manager, Mariana, discusses conducting a Human Rights Risk Assessment (HRRA) for a gold miner operating across Africa and our Senior Consultant, Fiona, explores how we supported a gold mining company in Mali to establish ESG management systems for responsible production.
Both of the case studies in this month’s newsletter are representative of the growing importance of responsible business practices, and the salient role that investors, industry schemes and regulators are playing in enhancing supply chain transparency across multiple industries.
Tim Perkin
Senior Consultant
Enhancing responsible gold production in line with the LBMA Guidance
Gold mining is the backbone of Mali’s economy. Mali, Africa’s third-biggest exporter of gold, relies heavily on this precious metal, which accounts for nearly 10% of the country’s GDP and half of its state revenues. Beyond economic metrics, gold mining supports numerous livelihoods across the nation. Away from the more unstable north, one Gold Mining Company is on a mission to advance responsible mining practices.
Ethical Gold: Human Rights Risk Assessment
Kumi completed a Human Rights Risk Assessment (HRRA) for a gold mining company operating in Africa. The company wanted to understand the extent to which its policies and procedures aligned with industry standards, have actionable recommendations to close identified gaps, and map and categorise risks across its sites. Kumi benchmarked the company’s internal and external policies, procedures, and memorandums against ICMM Human Rights Due Diligence Matrix…
Key developments this month:
1. Products made with forced labour: Council adopts ban
The text forbids the placing and making available on the Union market, or the export from the Union market, of any product made using forced labour. This is the last step in the decision-making procedure.
2. Trump tariffs are coming, but some Chinese companies may already know how to avoid them
Businesses are bracing for the economic impact of a second Trump presidency, which, if his campaign promises are to be believed, will mean tariffs across nearly all imports to the US, especially those from China.
Did you see our critical webinar on Due Diligence under the EU Batteries Regulation?
Over 400 businesses tuned in to hear from Kumi and Circulor’s expert panel on preparing for next year’s compliance requirements, which take effect in August 2025.
If you wish to receive these webinar materials, click on the link!
