The recent Fifth Conference of the Parties (COP5) of the Minamata Convention on Mercury had its ups and downs, according to advocates from the International Pollutants Elimination Network (IPEN). While there were positive developments, such as the inclusion of Indigenous Peoples in the negotiations and efforts to phase down dental mercury, there were also disappointments. One area where the COP5 fell short was in setting a weak standard for mercury in waste, which could lead to the export of toxic mercury-tainted waste to lower-income countries. Additionally, there was a missed opportunity to ban any level of mercury in cosmetics, despite the continued sale of mercury-tainted skin-whitening creams. Despite these setbacks, there is hope for progress in the future, with plans for cooperation between the Minamata Convention Secretariat and the Montreal-Kunming Global Biodiversity Framework to address contaminated sites. Moving forward, it is crucial to take stronger actions to end the global mercury trade, amend regulations for small-scale gold mining, and intensify efforts to address mercury poisoning. The next conference, COP6 in 2025, presents an opportunity to make significant amendments to the convention and tackle the core sources of global mercury pollution, particularly in small-scale gold mining.