Canada and Zambia Launch Sustainability Bond for Artisanal Mining Integration
A sustainability bond aimed at formalizing artisanal mining will be piloted in Zambia, potentially raising up to $200 million. This initiative addresses informal mining's impact on profits and pollution, integrating local miners into formal supply chains.
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A sustainability bond, developed by Veridicor and Metalex Commodities, will be piloted in Zambia with an issuance target of $100 million to $200 million by year-end. This bond aims to integrate artisanal miners into formal supply chains, linking investor returns to social and environmental outcomes rather than output.
Zambia, Africa's second-largest copper producer, has tens of thousands of artisanal miners operating in proximity to industrial mines. The bond structure will involve large mines for financial backing, facilitating fair pricing for artisanal miners. Similar initiatives are also planned in the Democratic Republic of the Congo and Ghana.
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