Brazil Taps Canada’s Sustainable Mining Initiative: Canadian Mining Stocks To Watch

Brazil is the latest country to tap Canada’s, Towards Sustainable Mining (TSM) Initiative. By adopting the sustainable mining initiative, Instituto Brasileiro de Mineração (IBRAM) affirms its commitment to improving environmental and social performance of the mining industry. The adoption should also affirm TSM credentials as an internationally recognized standard in the mining industry.

Towards Sustainable Mining Adoption

Developed by the Mining Association of Canada, TSM is a framework that seeks to ensure the highest levels of environmental and social practices in the mining industry. Over six mining associations around the world have adopted the framework, as the need to protect the environment from pollution becomes a priority.

According to IBRAM President Flavio Ottoni Penido, adoption of TSM principals is way overdue considering tragic dam failures in the country in recent years. The fact that TSM includes international best practices in tailings management, as well as safety, should help bring sanity to Brazil mining sector according to the president.

“By adopting TSM, we are committing to raise the standards of our industry. TSM will help our mining sector become more transparent, earn the confidence of Brazilian society and achieve its full potential,” explained Mr. Penido.

Launched in 2004, Implementation of TSM is mandatory for all members with Canadian operations. Companies with international operations have also adopted the practices and principles of the initiative in international sites. The TSM initiative is currently under implementation by mining associations in seven countries spanning five continents.

TSM guidelines require mining companies to assess mining facilities as well as performance on an annual basis. Assessment, in this case, focuses on eight important areas of tailing management as well as community outreach, safety and health. The framework also calls for an increased focus on biodiversity conservation.

TSM principles and guidelines continue to be shaped by an independent advisory panel as one of the ways of ensuring it meets civil societies and industry stakeholder’s expectations.

Amidst the push for environmentally friendly mining operations, a number of Canadian companies continue to provide lucrative investment opportunities in the mining industry.

Canadian Mining Stocks

Teck Resources Ltd (TSE: TECK.B) is a must-watch for investors looking to gain exposure to the mining of copper, Zinc as well as coal. The company also provides great exposure to oil drilling as well as gold and silver mining. The diversified mining company owns four copper mines in Canada and South America. While its stock has taken hit in recent months, the pullback provides an opportunity to bet on its long-term prospects at a discount.

Kirkland Lake Gold Ltd (TSE: KL) is one of the best-performing companies in the Canadian mining industry, having returned close to 140% over the past year. The company remains a darling of the market as gold prices continue to edge higher. For income-focused investors, then this is an ideal stock in the mining sector, given the 0.36% dividend on offer.

Barrick Gold Corp (TSE: ABX) is the face of the Canadian mining industry, being the world largest gold producer. The company boasts of some of the biggest gold mines spread across Canada, the U.S Argentina as well as Chile and the Dominican Republic. The company is fresh from reporting a 20% increase in revenues helped by higher gold prices. It’s stock price is up by more than 30%.

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