Principles and governance
Mining companies report annually on their environmental and social performance using the TSM standard. Independent verifiers review and confirm these results every three yffears to ensure accuracy and credibility. In addition, an independent Advisory Panel (which will be built during 2026) representing a wide range of stakeholder perspectives provides guidance and supports the continuous development of responsible mining practices in line with TSM.
The role of the Advisory Panel in Finland is to oversee and strengthen the implementation of TSM, working alongside the Finnish Mining Association. The Panel helps mining companies and stakeholders engage in open dialogue, supports performance improvement across the sector, and contributes to the ongoing development of the TSM standard in Finland.
The administration and governance of TSM in Finland are funded through the annual membership fees of the Finnish Mining Association.
Reporting and Verification
1. Self assessment: Mining companies assess their performance each year using the nine TSM self-assessment tools. These results are published annually.
2. External verification: Every three years, an accredited verifier reviews the company’s self-assessments and determines whether the reported performance ratings are supported by sufficient evidence. Verifiers are independent auditors and technical experts. They may change companies’ self-assessed ratings to ensure they accurately reflect the site’s actual management practices and performance.
3. Management confirmation: In the year of external verification, the leadership of each mining company participating in TSM reporting submits a statement that is published alongside the company’s performance results. This statement confirms that the external verification was conducted in accordance with the TSM standard requirements.
4. Post verification review: Each year, the Advisory Panel selects a sample of companies to present and discuss their verified TSM results in more detail. This review process allows the Advisory Panel to examine the company’s management systems and processes, and to engage in dialogue about the key sustainability challenges the company is facing. The purpose of the Panel’s post verification review is to provide an additional independent layer to the TSM verification process and to identify further opportunities to strengthen responsible mining practices in line with the TSM standard.