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standard","all-chilean-lithium-rated-to-worlds-most-rigorous-standard","article/all-chilean-lithium-rated-to-worlds-most-rigorous-standard",{"_uid":547,"date":548,"tags":549,"editor":568,"content":578,"excerpt":752,"featured":51,"reporter":753,"_editable":757,"component":758,"seo_title":543,"categories":759,"visibility":771,"author_company":49,"featured_image":772,"seo_description":752,"author_full_name":49,"author_job_title":49,"formattedDate":777,"formattedArticleDate":778},"52dc6a35-c40d-4d9e-8b60-c4de502a5968","2023-09-11 00:00",[550,553,556,559,562,565],{"slug":551,"name":552},"albemarle","Albemarle",{"slug":554,"name":555},"chile","Chile",{"slug":557,"name":558},"irma","IRMA",{"slug":560,"name":561},"sqm","SQM",{"slug":563,"name":564},"policy","Policy",{"slug":566,"name":567},"esg","ESG",[569],{"slug":570,"name":571,"content":572},"matthew-bird","Matthew Bird",{"job_title":573,"image":574,"bio":576,"linkedin":577},"Senior Editor - Supply Chains & Data Visualisation",{"filename":575},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":579,"content":580},"doc",[581,606,611,616,629,638,645,650,655,660,673,678,688,693,711,716,729,734,747],{"type":582,"attrs":583,"content":584},"paragraph",{"textAlign":49},[585,588,596,598,604],{"text":586,"type":587},"All ","text",{"text":589,"type":587,"marks":590},"Chilean lithium",[591],{"type":592,"attrs":593},"link",{"href":594,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://source.benchmarkminerals.com/article/what-does-chiles-national-lithium-strategy-mean-for-albemarle-and-sqm","url",{"text":597,"type":587}," now comes from mines with ratings from the Initiative for Responsible Mining Assurance (IRMA), following SQM receiving its rating last week. Chile is forecast to produce a quarter of global lithium this year, according ",{"text":599,"type":587,"marks":600},"Benchmark’s Lithium Forecast",[601],{"type":592,"attrs":602},{"href":603,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://www.benchmarkminerals.com/forecasts/lithium",{"text":605,"type":587},".",{"type":582,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":587},"IRMA is the most rigorous mining standard in the world, comprising over 400 metrics across four principle areas: Business Integrity, Planning for Positive Legacies, Social Responsibility and Environmental Responsibility.",{"type":582,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":587},"Lithium and other battery minerals from mines following such standards are in increasing demand. Ford, Volkswagen, and Tesla are amongst the automakers supporting the standard through membership to IRMA.",{"type":582,"attrs":617,"content":618},{"textAlign":49},[619,621,627],{"text":620,"type":587},"“IRMA accreditation can help offer reassurances for the downstream that minerals from IRMA-accredited mines come at a lower reputational risk compared to other non IRMA mines,” ",{"text":622,"type":587,"marks":623},"Tom Drabble",[624],{"type":592,"attrs":625},{"href":626,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://source.benchmarkminerals.com/video/watch/analyst-insights-lithium-sustainability-risks-in-china-africa-and-south-america",{"text":628,"type":587},", an analyst at Benchmark, said. “The upstream is therefore reacting to that.”",{"type":582,"attrs":630,"content":631},{"textAlign":49},[632],{"type":633,"attrs":634},"image",{"id":49,"alt":635,"src":636,"title":49,"source":49,"copyright":49,"meta_data":637},"2023 lithium production forecast (tonnes LCE). Chile forecast to produce quarter of lithium this year","https://a.storyblok.com/f/287943243085208/a4e669d133/bm-lithium-2023-forecast.png",{},{"type":639,"attrs":640,"content":642},"heading",{"level":641,"textAlign":49},4,[643],{"text":644,"type":587},"SQM and Albemarle meet standards",{"type":582,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":587},"Chile’s lithium is currently produced by two sites in the Salar de Atacama operated by SQM and Albemarle.",{"type":582,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":587},"IRMA has four achievement levels. Levels 50, 75, or 100 mean a mine has met 50%, 75% or 100% of the metrics in each of the principle areas and also met 40 critical criteria. The lowest level is the Transparency level which is awarded to mine sites which receive an IRMA-approved audit and publicly share the results but do not meet the criteria for IRMA level 50 or higher.",{"type":582,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":587},"SQM’s site, which Benchmark’s Lithium Forecast shows will produce 75% of Chile’s lithium this year, became the first lithium mine to reach IRMA achievement level 75 last week.",{"type":582,"attrs":661,"content":662},{"textAlign":49},[663,665,671],{"text":664,"type":587},"“This is the most rigorous and the most comprehensive mining assurance standard in the world,” ",{"text":666,"type":587,"marks":667},"Stefan Debruyne",[668],{"type":592,"attrs":669},{"href":670,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://source.benchmarkminerals.com/video/watch/carbon-and-water-neutral-lithium-sqms-innovation-roadmap-and-sustainable-development-plan",{"text":672,"type":587},", director of external affairs at SQM, told Benchmark Source, emphasising that getting an IRMA 75 rating is not the end of the process. “Of course, when you undertake a standard, your ambition is to have 100.”",{"type":582,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":587},"Albemarle’s site reached IRMA achievement level 50 in June this year. It narrowly missed out on achievement level 75 due to scores of 72.2% in business integrity and 74% in social responsibility. Albemarle was the first lithium miner to meet IRMA standards.",{"type":582,"attrs":679,"content":680},{"textAlign":49},[681,686],{"text":552,"type":587,"marks":682},[683],{"type":592,"attrs":684},{"href":685,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://source.benchmarkminerals.com/article/albemarle-looks-to-acquire-more-lithium-resources-to-secure-post-2030-supply",{"text":687,"type":587}," is working with its joint venture partners to undertake an IRMA assessment for its hard rock sites in Western Australia and is aiming for its Kings Mountain site in North Carolina to be the first IRMA 100 mine site.",{"type":582,"attrs":689,"content":690},{"textAlign":49},[691],{"text":692,"type":587},"SQM and Albemarle are currently the only miners operating lithium mines with IRMA ratings.",{"type":582,"attrs":694,"content":695},{"textAlign":49},[696,702,704,710],{"text":697,"type":587,"marks":698},"Livent’s",[699],{"type":592,"attrs":700},{"href":701,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://source.benchmarkminerals.com/article/opinion-grow-or-be-bought-livent-allkem-merger-sets-scene-for-industry-consolidation",{"text":703,"type":587}," Fenix operation in Argentina is currently undergoing an independent audit and Mineral Resources is carrying out the self-assessment process on its Wodgina mine operation in ",{"text":705,"type":587,"marks":706},"Western Australia",[707],{"type":592,"attrs":708},{"href":709,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://source.benchmarkminerals.com/article/australia-looks-to-boost-domestic-mineral-processing-industry-with-676-million-fund",{"text":605,"type":587},{"type":639,"attrs":712,"content":713},{"level":641,"textAlign":49},[714],{"text":715,"type":587},"Downstream and policymakers call for standards",{"type":582,"attrs":717,"content":718},{"textAlign":49},[719,721,727],{"text":720,"type":587},"Sustainable lithium sourcing is becoming increasingly important for automakers and downstream players. In May, ",{"text":722,"type":587,"marks":723},"Albemarle signed a five-year agreement to supply Ford",[724],{"type":592,"attrs":725},{"href":726,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://source.benchmarkminerals.com/article/ford-signs-five-lithium-deals-to-secure-north-american-and-ira-compliant-supply",{"text":728,"type":587}," with lithium sourced only from IRMA-accredited mines.",{"type":582,"attrs":730,"content":731},{"textAlign":49},[732],{"text":733,"type":587},"“Sustainability, transparency, and traceability are of increasing importance to customers across the lithium value chain,” Albemarle told Benchmark Source. “This new era of lithium requires responsible mining to achieve a just transition to electrification and digitalization globally.”",{"type":582,"attrs":735,"content":736},{"textAlign":49},[737,739,745],{"text":738,"type":587},"The comprehensiveness of the IRMA standard has meant it was recommended in President Biden’s 100-Day review of supply chains and the ",{"text":740,"type":587,"marks":741},"EU’s new Battery Regulations",[742],{"type":592,"attrs":743},{"href":744,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://source.benchmarkminerals.com/article/europe-needs-to-step-up-its-game-to-compete-in-global-battery-industry-sefcovic-says",{"text":746,"type":587}," as a starting point for the development of a responsible mining industry. ",{"type":582,"attrs":748,"content":749},{"textAlign":49},[750],{"text":751,"type":587},"“Both the White House and the EU have referenced IRMA as a potential method for supply chain due diligence,” Debruyne said, “If you look at them together, I think that is significant.”","All Chilean lithium now comes from mines with ratings from the Initiative for Responsible Mining Assurance (IRMA), following SQM receiving its rating last week. Chile is forecast to produce a quarter of global lithium this year, according Benchmark’s Lithium Forecast. IRMA is the most rigorous mining standard in the world, comprising over 400 metrics across […]",[754],{"slug":570,"name":571,"content":755},{"job_title":573,"image":756,"bio":576,"linkedin":577},{"filename":575},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"52dc6a35-c40d-4d9e-8b60-c4de502a5968\", \"id\": \"\"}-->","article",[760,763,766,768],{"slug":761,"name":762},"critical-minerals","Critical Minerals",{"slug":764,"name":765},"geopolitics","Geopolitics",{"slug":767,"name":8},"lithium",{"slug":769,"name":770},"sustainability","Sustainability","private",{"id":49,"alt":773,"name":773,"focus":773,"title":773,"source":773,"filename":774,"copyright":773,"fieldtype":775,"meta_data":776,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/b91ead2533/bm-benchmark-lithium-chile-2.jpg","asset",{"alt":773,"title":773,"source":773,"copyright":773},"Sep 11, 2023","11th September 2023",[],[],1781023427874]