The Board approved, in principle, a proposal on enhanced company fee contributions

Board decision

The Board agreed, in principle, categories and contributions from non-ICMM companies to be as following:

• Market cap >USD 50bn: USD 90,000 
• Market cap USD 10–50bn: USD 60,000 
• Market cap <USD 10bn: USD 30,000

The market caps established in 2016 might also merit reconsideration in light of significant growth in company turnover in the intervening period, including the minimum fee.

Additionally, the Board agreed that:

• Revised fee levels will be communicated to supporting companies through constituency Board members and will come into effect in 2024.
• Revised fee levels will remain in effect for the three-year lifetime of the new Board and will be reviewed and revised in 2026.
• Non-ICMM mining companies should pay a minimum fee of USD 30,000, rising to USD 90,000 in line with the market cap used for oil and gas companies.
• The smaller size of fee contributions from ICMM member companies merits a review to bring these into line with contributions from energy/oil and gas companies.
• Large mining companies that are members of the ICMM should consider a supplementary contribution in line with the market cap of energy/oil and gas companies to augment the average fee share paid by ICMM to the Secretariat by its 26 member companies. This provision could be introduced in 2023 outside the ICMM MoU framework and balance contributions from the two sub-constituencies in line with their respective share of constituency members. 
• Consideration to moving the payment schedule from annual payments based on invoices to a multi-year model to address the shortcomings of annual fee contributions.
• In the event that companies decide to leave the supporting company constituency, they should convey this decision to the Secretariat within three months. If the decision falls within the first six months of the calendar year, the company would pay a minimum of 50% of the fee. If it falls in the second half of the calendar year, payment would be required in full.

The Decision will be revisited and endorsed by the incoming Board at the earliest opportunity.