Responsible Mining Standards at Work: Demonstrating Value to Stakeholders and Investors
As both new regulations and voluntary standards in the mining industry have proliferated over the last twenty years, many voices are asking how effective these have been in promoting responsible mining practices and in providing value for stakeholders. There is a wide spectrum of disclosure across the industry from junior exploration companies, reporting the bare minimum, to ICMM and MAC member companies reporting on an overwhelming number of indicators. Yet in many cases, the exploration phase of a mine development sets the stage for community expectations and perceptions of a project. Our question is what standards of reporting provide value for a mining company to manage their social license to operate? How can these standards be scaled down to provide workable and effective guidance for juniors? And how can these operational standards be communicated to the investment community who wants to understand the social ground on which the project is being developed?