The International Cyanide Management Institute (ICMI) announced today that it had accepted the application of the Glamis Marigold Mining Company (GMMC) to become a signatory to the International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold (Code). The Code is a voluntary industry program for companies involved in the production of gold using cyanide. GMMC is a joint venture between Goldcorp (66.7%) and Barrick Gold Corporation (33.3%), operating the Marigold Mine near Winnemucca, Nevada.
Glamis Gold Ltd held the majority interest in Marigold until November, when it completed a merger with Goldcorp. Glamis Gold was a signatory to the Code, and its Marigold Mine had been proceeding towards Code certification as a Glamis property when the merger was finalized. Since Goldcorp, its majority owner, currently is not a signatory to the Code, GMMC has itself become a signatory.
GMMC joins 25 other companies as a signatory to the Code. By becoming a signatory, the company commits to following the Code’s Principles and implementing its Standards of Practice, and to have a verification audit of its operation conducted by independent third-party auditors within three years of their initial application, and every three years thereafter. The purpose of the verification audit is to evaluate an operation to determine if its management of cyanide achieves the Code’s Principles and Standards of Practice. Operations will be certified if found in compliance with the Code, and will be de-certified if ICMI determines that they no longer comply with the Code.
The Code was developed under the aegis of the United Nations Environment Programme by a multi-stakeholder Steering Committee. The Code is intended to complement an operation’s existing obligation to comply with the applicable laws and regulations of the political jurisdictions in which the operation is located.
ICMI has been established to administer the Code, promote its adoption, evaluate its implementation, and manage the certification process. A detailed list of the operations covered by signatory companies’ applications, along with the full text of the Code and its implementing and administrative documents, are available at www.cyanidecode.org.
Friday, October 27, 2006