Top 5 socially responsible mining companies in Canada: 2015
There’s a difference between wanting to be socially responsible and having to be socially responsible. The truth is told through CSR initiatives.
Corporate social responsibility (CSR) entails voluntary actions taken by a company to improve living condition of local communities, whether through social, environmental or economic programs. The goal is to go beyond legal obligations, contracts and operating license agreements.
• Related content: [SLIDESHOW] Mining Industry: Social Responsibility Programs in Action
Last week, Canadian magazine Maclean unveiled its annual Top 50 Most Socially Responsible Companies in Canada list. Partnering with Sustainalytics, a leading independent provider of environmental, social and governance research, the list highlighted the top companies based on their performance across key environmental and social indicators within their industries.
For Canada, these are the top mining companies making a difference.
5. New Gold
For the second year in a row, Vancouver-based miner New Gold makes the list of the top responsible mining companies in Canada. The company is recognized for excellent environmental initiatives, including recycling 27.3 million cubic meters of water in 2012. That’s roughly five times the amount of raw water the company withdrew from natural sources.
As one of the world’s largest gold producers, Goldcorp continues to make a difference. The miner was recognized for its outstanding commitment to social and environmental responsibility as well as investing heavily in the development of policies and programs for workplace safety, diversity, community development, education and support for non-profits.
"Operating in a transparent and socially responsible manner is a commitment that is absolutely fundamental to the way we do business," said Chuck Jeannes, Goldcorp'sPresident and CEO.
"We're proud of the strides we've made incorporating best practices into everything from land reclamation to ensuring we hire local workers and source from local suppliers where possible. We believe that every community we work with should prosper. This acknowledgment from Sustainalytics validates the work we're doing."
For the third year in a row, IamGold joins the list and for good reason. Despite operating in high-risk countries, the miner has not been involved in any significant community relations controversies and continues to have a favorable track record working with global communities.
Teck Resources is a great example of a mining company with a solid approach to CSR. The company is committed to responsible mining and mineral development and strives to build partnerships and capacity to confront sustainability challenges within the regions it operates.
“As a proudly Canadian company for over 100 years, Teck and its employees are focused on creating lasting benefits in the communities where we operate,” said Don Lindsay, President and CEO, Teck.
“These rankings are the direct result of the hard work of our people, whose dedication to doing the right thing for the environment, communities and future generations is at the heart of everything we do.”
For Kinross Gold, corporate social responsibility isn’t a chore—it’s a daily part of operations.
“I believe corporate responsibility is core to both our overall strategy and day-to-day activities, and it will remain a key priority for Kinross Gold,” said President and CEO J. Paul Rollinson.
The miner has a vast repertoire of programs dedicated to improving communities in which it operates. Each program is designed to specific operations with company-wide standards and global best practices.
Since 2010, Kinross has also been a signatory to the United Nations Global Compact, the world’s biggest CSR initiative.
Copper production from top ten companies to increase by 3.8%
Copper production from the world’s top companies is set to increase by up to 3.8% this year, following a fall of 0.2% in 2020, GlobalData analysis reveals. Last year’s marginal slump saw production drop to 11.76 million tonnes (Mt).
The initial impact of the COVID-19 pandemic on mining operations was immense, however, six of the ten largest copper producers succeeded in increasing output last year. In 2021, copper production from the top ten copper companies is expected to bounce back, rising by up to 3.8%, to reach 12.2Mt, according to GlobalData, a leading data and analytics company.
The highest increase in copper production was by Canada’s First Quantum, which, despite all the challenges, reported 10.4% growth in 2020. The company’s Sentinel mine in Zambia and Cobre Panama were key contributors to this growth. While the latter remained under care and maintenance between April and August 2020, it delivered record production levels during the subsequent months.
Codelco, the world’s largest producer of the red metal used in electric vehicles, also bucked the trend.
Vinneth Bajaj, Associate Project Manager at GlobalData, commented: “Despite Codelco reporting over 3,400 active cases during July 2020, the company achieved 1.2% growth in its production in 2020. The company implemented a four-phase plan, as part of the COVID-19 measures, to ensure the health and safety of its employees, while also avoiding any significant impact to its copper output.”
Although the overall impact was minimal, declines in production were observed from Glencore (8.2%), Antofagasta (4.7%), BHP (3.9%) and Freeport McMoRan (1.3%). Reduced operational workforces due to COVID-19 measures, lower ore grades and production halts due to maintenance were the key disruptors to output during 2020.
The move towards electric vehicles and clean energy from renewables sources such as solar panels and wind turbines has driven the copper price to all-time highs. Copper has been among the best performers over the last month where metals ranging from aluminum to iron ore have surged to their highest prices in years. The rally is being fueled by stimulus measures, near-zero interest rates and signs that economies are recovering from the global pandemic.