6. How much does Fairmined Certification cost?

6. How much does Fairmined Certification cost?

Any mining organization that makes the decision of achieving Fairmined Certification takes on certain important responsibilities that requires dedication and passion. This is what distinguishes responsible miners. As mentioned above, there are entry-level requirements needed to achieve Certification, which is why the mining organization must make certain investments and efforts to ensure compliance with the entry-level requirements to the Certification System.

Once prepared, the mining organization must assume the cost of the auditing and certification services by IMOswiss AG. An mining organization must have the conditions to cover the certification expenses of the first audit and the following annual audits.

Auditing and certification costs are estimated according to the mining organization’s size and complexity and the number of work areas that need to be inspected, such as: mines, processing plants, etc. The final rate is calculated based on IMOswiss AG’s public rate.

Furthermore, in order to advance on the continuous improvement path of the progressive requirements included in the Fairmined Standard, additional efforts  are required. These can be covered by the improved income or the Fairmined Premium and depends on the decisions taken by the Fairmined Premium Committee and the mining organization.