Some leading companies have established start-up accelerators to encourage innovation. For example: –BHP’s Xplor accelerator programme supports innovative, early-stage mineral exploration companies in fast-tracking and de-risking their geological concepts to become investment- ready; two cohorts and 13 innovators have been selected to date. –Vale’s Ventures programme invests in pioneering early-stage start-ups focused on decarbonization in the mining value chain, zero- waste mining, energy transition minerals and the future of mining.223 Other mining companies have also partnered with local organizations to call for innovation in response to specific issues, such as Expande,224 Unearthed,225 mininghub226 and ReThink Mining.227 Alongside innovation, companies can also take steps within existing operations to reduce exploration, extraction and waste impacts. This includes optimizing the efficiency of mine sites and surrounding infrastructure; reducing tailings where possible and managing tailings safely and efficiently in line with international standards228, 229 to reduce pollution and prevent industrial disasters; and strengthening security to prevent illegal mining on owned land. Address indirect and cumulative impacts Beyond efforts to avoid and reduce land and pollution impacts, companies should also collaborate across the sector and with other industries, local governments, Indigenous Peoples, local communities and academia to identify, assess, then address indirect or induced and cumulative impacts across landscapes, drawing from available industry guidance such as the MCA’s Cumulative Environment Impact Assessment Industry Guide.230 This includes assigning accountability for cumulative impacts across stakeholders.For example, this can be achieved by establishing mechanisms to share data to support landscape- level decision-making, designing impact assessment methodologies and metrics (supported by regional natural capital accounts), sharing infrastructure to limit overall land disturbance, and identifying roles and responsibilities for impact mitigation, restoration and regeneration. Strengthen rehabilitation and restoration approaches in partnership with local communities Rehabilitation and restoration of mine sites is a vital part of the sector’s contribution to nature- positive outcomes. For new mines, companies should establish plans for mine closure in line with industry guidelines such as SER’s International Principles and Standards for the Ecological Restoration and Recovery of Mine Sites231 and the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development’s (IGF) Relinquishment of Closed Mine Sites: Policy steps for governments.232 They should also provide auditable financial assurance based on realistic and publicly available estimates to cover all closure works in the event that the mine operator fails to fulfil its closure obligations because of sudden or temporary closure.233 For existing or inactive mines, companies should implement progressive rehabilitation and restoration throughout the mine lifetime as well as upon closure, as extraction in specific areas within the site is completed, and regularly update and reassess closure plans, especially when mining operations are significantly modified or expanded and as planned closure approaches.234 This includes adapting plans to reflect changes in the state of nature, such as the movement of species or habitats. Companies can also innovate to develop new approaches to address rehabilitation challenges or improve efficacy. For example, Rio Tinto has piloted methods to rehabilitate without topsoil using a mix of organic matter, hydro-mulch and fertilizers to address a lack of topsoil to cap and rehabilitate tailings at remote mines.235 37 Nature Positive: Role of the Mining and Metals Sector Nature Positive: Role of the Mining and Metals Sector 37

Nature Positive Role of the Mining and Metals Sector