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Business Standard
02-07-2025
- Business
- Business Standard
US, Indo-Pacific partners agree to strengthen maritime cooperation
The United States, Australia, India and Japan have agreed to expand their cooperation on maritime security in the Indo-Pacific and further collaborate on supplies of critical minerals and rare earths that are key components of high-tech production. The foreign ministers of the four countries, known as the "QUAD", met in Washington on Tuesday as the Trump administration seeks to expand US influence in the Indo-Pacific to compete with a rising China amid tensions with partners over trade and defense issues. In a joint meeting with his three colleagues, Secretary of State Marco Rubio said the QUAD must be a vehicle for action that goes beyond statements of intent and stressed that commerce and trade will be critical to ensuring the group's relevance in the future. To that end, the four announced in a statement the creation of a QUAD Critical Minerals Initiative that aims to strengthen economic security and collective resilience by collaborating on securing and diversifying critical mineral supply chains". The statement did not provide details of the initiative. We are deeply concerned about the abrupt constriction and future reliability of key supply chains, specifically for critical minerals, they said. This includes the use of non-market policies and practices for critical minerals, certain derivative products, and mineral processing technology. The statement did not mention China by name, but Chinese domination of the critical minerals supply chain has long been a concern of the US and others. The ministers expressed specific concern about rising tensions in the East and South China Seas, where Beijing has become increasingly assertive of maritime and territorial claims that are rejected by its smaller neighbours. We reiterate our strong opposition to any unilateral actions that seek to change the status quo by force or coercion, they said. We express our serious concerns regarding dangerous and provocative actions, including interference with offshore resource development, the repeated obstruction of the freedoms of navigation and overflight, and the dangerous maneuvers by military aircraft and coast guard and maritime militia vessels, especially the unsafe use of water cannons and ramming or blocking actions in the South China Sea. The ministers also condemned North Korea for continuing to launch ballistic missiles, expand its nuclear weapons program and engage in malicious cyberactivity. In a veiled reference to North Korean support for Russia in its war against Ukraine, they expressed deep concern about countries that are deepening military cooperation with North Korea, which directly undermines the global nonproliferation regime". (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Associated Press
30-04-2025
- Business
- Associated Press
RMI Releases New Standard Suite for Social, Environmental, OHS and Governance Risks
ALEXANDRIA, Va., April 30, 2025 /3BL/ - The Responsible Minerals Initiative (RMI), an initiative of the Responsible Business Alliance (RBA), today announced the release of its new standard suite that provides a common framework against which companies can assess environmental, social, occupational health and safety, and governance performance in their operations and mineral supply chains. The new standard suite expands the due diligence toolkit for responsible sourcing, processing and manufacturing of raw materials to meet new and emerging regulatory requirements and to encourage continuous improvement of supplier practices across a comprehensive set of indicators. The new standard suite includes the revised Facility Standard for Social, Environmental, OHS and Governance Risks, applicable for assessment of a mineral processor's operations; and the Supply Chain Due Diligence Module Plus, focused on risk management systems for sourcing primary and secondary materials. The module is an add-on available only in combination with the RMI's Responsible Minerals Assurance Process (RMAP) standards or Downstream Assessment Program (DAP). The new standard suite provides a strengthened framework for risk management, based on internationally recognized guidelines including the United Nations Guiding Principles on Business and Human Rights and the OECD Guidelines on Responsible Business Conduct. The standards were also designed to support requirements outlined in new mandatory due diligence regulations, including the EU Battery Regulation and the EU Corporate Sustainability Due Diligence Directive. These RMI standards help companies identify, assess and mitigate risks, remedy impacts, monitor and report on sustainability management systems, and enhance transparency and accountability within their supply chains. The RMI recognizes that the evolving regulatory landscape and voluntary standards present a significant expansion of expectations, actions, and investment by companies all along the minerals value chain. Thus, in concert with the new standard suite, the RMI has also expanded its team providing technical assistance, as well as new trainings, guidance and tools available to mineral processors engaged in an RMI assessment, free of charge. 'With this new standard suite and accompanying training and technical assistance resources, the RMI has significantly expanded its due diligence support to RMI members and mineral processors in our assessment program. The RMI standards remain rooted in longstanding international norms while now reflecting newly emerging company needs and stakeholder expectations for regulatory compliance, managing sustainability risks and impacts, and fostering responsible mineral supply chains,' said Jennifer Peyser, Executive Director of the Responsible Minerals Initiative (RMI). The standard suite underwent an extensive review process in 2024-2025, beginning with benchmarking against new and incoming regulations, including the EU Battery Regulation, the EU Corporate Sustainability Due Diligence Directive, and the German Supply Chain Due Diligence Act. The review process included consultations with RMI members, the public, and the RMI's Multi-Stakeholder Standards Advisory Committee to ensure alignment with regulatory developments, stakeholder priorities, and industry practices and practicalities. Learn more about the new RMI standards and associated tools here on the RMI website. About the Responsible Minerals Initiative (RMI) The Responsible Minerals Initiative (RMI), an initiative of the Responsible Business Alliance (RBA), is a multi-industry initiative with more than 500 member companies. Its members contribute to the development and international uptake of a range of tools and resources focused on minerals supply chain due diligence, including independent third-party assessments for smelters, Minerals Reporting Templates, supply chain risk assessment tools, and guidance documents on responsible sourcing of all minerals/metals. RMI members also have access to specialized due diligence tools, including country of origin data and the RMI Facility Database. The RMI runs regular workshops on responsible sourcing issues and contributes to policy development with civil society organizations and governments. For more information, visit Media ContactJarrett Bens, Senior Director of CommunicationsResponsible Business AlliancePhone: +1 571.858.5721 [email protected]
