Indian economy has emerged as one of the fastest growing economies globally with average annual economic growth rate hovering around 8-9%. The accelerated growth rate of the Indian economy necessitates rapid development of the mining sector. However, extraction of minerals is not without the environmental, social, economic and other footprints. The challenge is to integrate into the conventional business practices, the concern for environmental preservation, social integration and effective governance system for sustainable development of the mining industry.
FIMI- Sustainable Mining Initiative (SMI) was established in 2009 precisely to address environmental and social issues related to mining industry and to maximize the contribution of the mining sector to the cause of sustainable development in mining regions and the country. 10 leading Indian mining companies came together to start SMI and now act as its governing council.
We encourage inculcation and implementation of the global best practices in terms of technology as well as proactive management of environmental and socio-economic issues in the mining activities, including sustainable livelihood opportunities for members of the surrounding community. We also engage with governments, communities, civil societies, academia etc. to positively influence Indian policy and Regulations and promote sustainable mining.
SMI now serves as an agent for change and continual improvement on issues relating to mining and sustainable development. Member companies have made a public commitment to improve their sustainability performance and are required to report against their progress on an annual basis.
Our aim is to address environmental sustainability and social responsibility issues through implementation of sustainable business practices and keep striving to develop "next practices".