LS-Nikko Copper requests evaluation to receive Copper Mark

LS-Nikko Copper Chairman John Koo [LS-NIKKO COPPER]

LS-Nikko Copper, a producer of electrolytic copper and precious metals, requested an evaluation to obtain the Copper Mark certification for responsible copper production.

The company on Wednesday said it requested to receive an evaluation to receive the Copper Mark, becoming the first Asian company to do so.

Copper Mark was launched by the International Copper Association in 2019.

Only seven companies so far have registered for an evaluation to be certified.

"The application procedure to get evaluated in order to receive the Copper Mark certification is quite complicated,” said a spokesperson for the company. “Registering to receive the certification is meaningful because not every company can register.”

A Copper Mark certifies that the company sources copper responsibly, through which the company expects to raise its reputation and its market standing.

“The United States and European Union are very strict on the ESG [environmental, social and governance] standards,” said the company in a statement. “So a company that obtains the Copper Mark will obtain sales competitiveness for the long term and is projected to contribute to sustainable growth.”

Up until now, only a global miner Rio Tinto and Freeport have obtained the Copper Mark certification, according to LS-Nikko Copper.

The company expects the evaluation period to last around a year.

BY JIN MIN-JI [jin.minji@joongang.co.kr]