Nature Positive Role of the Mining and Metals Sector

Executive summary Overall, 9.6 billion tonnes of metal ores were extracted in 2020 alone, equivalent to 10% of global material extraction, supplying activities across almost all sectors of the economy. Future demand growth will be driven by the clean energy transition, given the key role metals and minerals – such as aluminium, copper, cobalt, nickel, lithium and rare earth elements – play in supporting the scale-up of energy transition infrastructure and the electrification of the transport and mobility system. Indeed, critical mineral demand is expected to increase 4 to 6 times by 2040. Yet, the mining and metals sector contributes to drivers of biodiversity loss, such as land-use change and ecosystem disturbance, pollution, water abstraction and greenhouse gas (GHG) emissions across its entire value chain. Mining operations are estimated to cover up to 100,000 square kilometres (km²) of the world’s terrestrial surface (equivalent to 0.07%), and 8% of global mining properties coincide with International Union for Conservation of Nature (IUCN) Protected Areas. A total of 16% of critical mineral mines are located in highly water- stressed areas, and over half of energy transition mineral resources are located on or near Indigenous Peoples’ lands. This report summarizes the sector’s key impacts and dependencies on nature and sets out priority actions that corporate leaders can take to transform their businesses. These include:1. Transform operations across the mine life cycle: Avoid, then reduce, the land, pollution and emissions impacts of mining operations and restore across the mine life cycle in accordance with the mitigation hierarchy. 2. Improve water stewardship: Avoid, then reduce, water abstraction, use and pollution in mining operations, and improve water stewardship across landscapes. 3. Expand circularity and source responsibly: Expand circularity across the value chain, embrace standards and transparency, engage with suppliers and source responsibly, and collaborate with and support customers. 4. Restore and regenerate landscapes: Support nature conservation and restoration with local communities across and beyond their own value chains and invest in innovative nature financing mechanisms. 5. Transform policy systems and collaborate across sectors: Call on governments to strengthen nature-related policy and support cross-sector and cross-industry collaboration. These priority actions could unlock more than $430 billion in annual business opportunities by 2030 for companies operating across the sector’s value chain, presenting a significant opportunity for the mining and metals sector in the new nature- positive economy.There is an urgent need for the mining and metals sector to contribute to the nature- positive transition, to reduce its impacts on nature and unlock new opportunities. Nature Positive: Role of the Mining and Metals Sector 6