Top 10 Corporate Social Responsibility initiatives in mining
Corporate Social Responsibility (CSR) is often used to describe the social and environmental contributions and consequences of corporative activities and action. It entails three key dimensions--economic development, environmental protection and social cohesion.
• Related content: Top 10 Associations raising awareness for the mining industry
To truly be a successful mining company, CSR should be the fabric of your business. We highlight the top 10 programs embracing responsible mining and encouraging a positive impact on the communities and environment.
10. IamGOLD – Devonshire Initiative
IAMGOLD is a founding member of the Devonshire Initiative, an organizational forum for leading international development NGOs and mining companies to come together in response to the social agenda surrounding mining and community development issues. The objective of the Devonshire Initiative is to improve social and community development outcomes wherever Canadian mining companies operate overseas.
9. Barrick Gold – Heart of Gold Fund
Simply put, Barrick Gold wants to help support non-profit organizations and other charitable endeavors any way it can. The company’s Heart of Gold Fund, an initiative that makes seeking donations and sponsorships from Barrick easier, is focused on contributing to education, health and environment, culture and recreation, economic development, and community capacity building and leadership.
8. Anglo American – Zimele
For the last 25 years, Anglo American has been striving to provide enterprise development within local communities in which it operates. The company’s global initiative, Zimele, enables SMEs to operate within the mainstream economy through a combination of financial support and mentorship. Over the past seven years, Zimele has supported 1885 companies, employing over 38,000 people, with a combined turnover of roughly $500,000 million.
7. BHP Billiton – LEAD Project
In 2014, BHP Billiton launched the LEAD Project in Mozambique, pledging $8.8 million over five years to the new agricultural initiative to benefit farmers from three districts in the area. The LEAD – Livelihoods Empowerment and Development -- project aims to work with more than 50 producer organizations that represent farms to increase their income and business opportunities, improve production capacity through farm-level training and facilitate access to financing.
Read the full article in the July edition of Mining Global magazine
Deloitte predicts industry transformation - Tracking the Trends 2019 report
Deloitte has published the eleventh edition of its annual report on the mining industry. Tracking the Trends identifies the top ten trends transforming the future of mining in 2019
The Deloitte report endeavours to provide the mining industry with insights it can leverage to support its continued quest for productivity, capital discipline, strategic development and sustainable growth.
Philip Hopwood, Deloitte’s Global Leader - Mining & Metals, commented: “It appears that the mining industry is poised for greater growth than it’s seen in a decade, but today’s market realities are very different than those of the past. We’re now dealing with geopolitical tensions in the form of trade wars and tariff concerns, as well as looming asset shortages. Rising commodity prices should fuel expansion, but could also result in a return of inflation and the costs that go with it, eventually eating into margins.
Disruption and volatility has become the new normal and the pace of change is outpacing our ability to adapt. This makes it imperative for mining companies to clarify how they plan to drive value into the future and how they intend to respond when prices inevitably drop again.”
Here are the key messages provided by the 2019 report:
- Disruption and volatilitymake it imperative for mining companies to clarify how they plan to drive value into the future and how they intend to respond when prices inevitably drop again. To thrive into the future, mining companies will need to challenge the status quo by soliciting a diversity of opinions and taking the risk to do things differently.
- Technology and artificial intelligence (AI) will play a key role, not only in helping companies envision future scenarios, but in identifying risks at an enterprise level and transforming the supply chain. Moreover, advances in finance platforms, sensor technology, autonomous vehicles, cloud- based solutions, and analytics are paving the way for the design of a digital mine.
- Understanding the needs and perceptions of people both inside and outside the organization will be critical. Companies must build a more diverse workplace and address succession planning, while fostering loyalty and retention among existing employees. At the same time companies must do more outreach to local communities, governments, and consumers so they can be more transparent and receptive.
Top Ten Trends Transforming the Future of Mining:
- Rethinking mining strategy - Embedding the discipline to deliver measurable value across the cycle
- The frontier of analytics and artifcial intelligence- Moving up the maturity curve
- Managing risk in the digital era - Exploring a new approach to controls and risk management
- Digitizing the supply chain - Why innovation requires integration
- Driving sustainable shared social outcomes - Finding value beyond compliance
- Exploring the water-energy nexus - Making the case for a systematic approach
- Decoding capital projects - Learning from past mistakes
- Reimagining work, workers, and the workplace - A blueprint for the future
- Operationalising diversity and inclusion programs - From theory to practice
- Demanding provenance- EVs and battery minerals provoke the desire for provenance