17 June 2020

Conic Metals, a Toronto-based company that specializes in securing electric vehicle battery minerals has failed to address allegations of serious environmental harm from the Ramu nickel and cobalt mine, specifically its submarine tailings disposal operation that uses the ocean as a dumping site for mine waste. The company ignored multiple requests in February and March for information on what steps the company has taken to address serious environmental contamination related to its principle asset, owned through a joint-venture interest with Metallurgical Corporation of China (MCC). [...]

[...]

Despite holding just 8.56% joint-venture interest in Ramu mine Conic states that revenue from the project is central to the company's growth strategy and foundational to its goal to become a "leading battery metals investment vehicle." Unfortunately, this growth strategy relies on a toxic tailings disposal operation that is decimating a coral-reef biological hotspot and putting at risk the livelihoods of thousands of fishermen who depend on the Basamuk Bay for their food. This is unacceptable, particularly given the increasing scrutiny and pressure to address the health, environmental, economic, and social impacts along the supply chains of lithium-ion batteries, electric vehicles and other low-carbon technologies. Companies that purchase nickel-cobalt hydroxide, nickel sulfate or use nickel-containing inputs should ensure that their supply chains are not linked to the damaging practices at the Ramu mine, or similar high-pressure acid leaching (HPAL) facilities dumping toxic waste into the ocean.

Making matters worse, Conic continues to laud the HPAL operation as 'best in the world' instead of addressing the fact that its flagship asset is at the center of massive environmental lawsuit. The company's behavior, unwillingness to engage with the mounting evidence, and unresponsiveness to concerns raised by stakeholders, renders its environmental and social commitments meaningless. [...]