Richard Fortune’s Post

The global experts at AltoPartners Executive Search have just released their latest industry insights - this time the spotlight is on the #miningindustry. While any discussion on mining is highly context-driven and as the Investing in African Mining Indaba kicks off today, our global mining and natural resources experts agree that regardless of jurisdiction, integration of ESG into corporate strategy is going to be more important than ever in 2024 and the next decade. Organisations that leave ESG work to a small and often underfunded department to manage (and in too many cases, solve), do so at their peril. In this report, partners in #Argentina, #Australia, #Canada, #Chile and #southafrica examine regional challenges, and their impact on talent strategies. #esg #globalinsights #localexperts #miningindustry #executivesearch #leadershipconsulting #strategy #skillsdevelopment

The mining industry has long been considered to be a contributor to environmental and social ills. That might still be the case – but the industry is now also viewed as critical to the decarbonisation of the planet because it provides the raw materials that are needed for the global energy transition from fossil fuels to alternative sources of energy. Mining may be essential to the supply of these so-called green minerals, but that doesn’t mean that the industry is being given special dispensation on environmental, social and governance (ESG) issues. If anything, ESG has become even more top of mind for regulators, communities and investors, placing the onus on the industry – as the first source of emissions in the clean energy value chain – to accelerate its decarbonisation plans even as it is under pressure to ramp up production of critical minerals. While any discussion on mining is highly context-driven and as the Investing in African Mining Indaba kicks off today, our global mining and natural resources experts agree that regardless of jurisdiction, integration of ESG into corporate strategy is going to be more important than ever in 2024 and the next decade. Organisations that leave ESG work to a small and often underfunded department to manage (and in too many cases, solve), do so at their peril. In this report, partners in Argentina, Australia, Canada, Chile and South Africa examine regional challenges, and their impact on talent strategies. With contributions and leading insights from Ricardo Bäcker; Richard Fortune; Kevin Hall; Nicolás Mora Schrader; and Takalane Khashane Bäcker & Partners | Executive Search & Leadership Consulting Search Partners International (SPI) Equation Partners | AltoPartners #esg #strategy #boardofdirectors #miningindustry #greentechnology #executivesearch #ceo #leadershipconsulting #skillsdevelopment https://lnkd.in/dnqsm7n7

#Mining plays a pivotal role in shaping a #sustainable future, yet the industry grapples with sustainability challenges. Research by BDO reveals a 74% surge in global #ESG disclosure requirements over four years, denting investor confidence. Inconsistent and incomplete data hinders ESG investments, with only 36% of mining companies disclosing energy intensity by ore volume. Although the Global Sustainability Standards Board released mining sector standards recently, full ESG compliance demands substantial investments in technology. Carbon taxes further pressure profitability, but they also drive demand for low-carbon technologies, offering opportunities for mining companies. Read more here: https://lnkd.in/dcihx2G5 The Responsible Gold Supply Application and Responsible Gold Standards have been developed to champion best practices in the #gold supply chain. Serving as tools to support the mining industry players and authorities in enhancing their #ESG practices. The ultimate goal is to leverage technology to make responsibly sourced gold accessible globally while protecting the environment and building a sustainable future. Read more: https://lnkd.in/dFangG_3

Responsible mining practices are vital to the future of the global mining industry. At Rio Tinto, sustainability considerations are at the core of every decision we make. We know fostering relationships with local communities is the key to continue our work in providing minerals for the clean energy future. Learn how sustainability standards are crucial for the growth of the mining industry.

I take a particular interest in the Mexican mining world following the disasterous nationalisation of their lithium assets (I was a director Bacanora Lithium). Digbee we are preparing to put a masterclass webinar together to outline the benefits (yes, benefits!) of introducing ESG at the early stage of exploration….but perhaps I needn’t as I have just read an excellent letter from Chairman John Michael Darch of Sonoro Gold Corp which commented on a panel held at #pdac2024, hosted by the Mexican delegation relating to sustainability impact and which his CEO was a panellist. Here is the key part: ….to meet the increasing demand for greater ESG responsibility, operators in Mexico need to better communicate responsible mining initiatives, adopt widely recognized standards like “Towards Sustainable Mining (TSM)”, implement techniques to responsibly manage scarce resources such as water and utilize technology to improve energy efficiency and reduce their carbon footprint. As the mining sector faces increased political and media scrutiny, junior companies can help change the narrative by engaging stakeholders at the earliest possible stage of a project. At the exploration and preproduction stage, juniors can develop mutual trust and understanding with local communities, identify not only the socioeconomic benefits of the project but also potential impacts the project will have on those communities. A survey by KPMG of Canadian mining companies recently, stated that one of the major challenges is: Identifying and mitigating environmental, social, and governance (ESG) risks… To address this Digbee supports miners of all sizes and through a base case Independent assessment will provide management teams with actionable observations to prioritise areas of remediation leading to being better prepared to engage with finance and other stakeholders.

The Australian Government is leading the way in promoting sustainable practices in critical minerals mining. Environmental, social, and governance (ESG) standards are being pushed to ensure net-zero emissions. https://lnkd.in/g5885BXv #mineaustralia #miningtechnology #esg #australianmining #mining #criticalminerals #bradwtaylor

Mining of critical minerals plays a crucial role in the global green transition, but the broader industry’s bad reputation and other challenges present investment barriers, industry experts warn. Critical minerals include metals such as copper, lithium, nickel, cobalt and rare earth elements, and are important components in emerging green technologies such as wind turbines and electric vehicles. Speaking on a panel at Singapore’s annual Ecosperity Week, which ended Wednesday, mining industry experts and investors said the growing demand from green tech makes it necessary to increase government support and capital flows into the critical mining sector. “Simply put, we cannot achieve the goals of the Paris Climate Agreement to reduce carbon without more mining, and the use of critical minerals,” said Adam Matthews, chair of the Global Investor Commission on Mining 2030, an investor-led initiative aimed at reforming the mining industry to address sustainability risks. Meeting the demand for copper alone over the next decade will require over $200 billion in capital, according to the Royal Bank of Canada. However, the panel said the critical mineral sector has struggled to persuade investors of this vision and the industry faces the threat of falling short of billions of dollars in investments needed to meet future demands. #energytransition #mining #criticalminerals #criticalmineralsector #parisclimateagreement #royalbankofcanada #worldgameworkshop

The use of predictive and corrective technologies, such as those offered by TSC.ai, is essential in mining and other sectors. These technologies, based on artificial intelligence and data analysis, allow for the anticipation and prevention of problems before they occur, as well as the quick resolution of existing operational challenges. This improves efficiency, reduces downtime and associated costs, and ensures safer and more profitable operation management. #mining #artificialintelligence #AI #ecology #technology #management #sustainable

Thanks PwC on spotlighting the importance of continuing to explore the impact of mining operations on its host communities. More education and awareness on the energy trilemma becomes essential to further unpack particularly around the environmental impact of energy supply (emissions and decarbonization). According to PwC, Andries Roussow, looking at mining companies Energy Plans is part of assessing the impact of their operations in addition to the DRME compliance requirements of the Social and Labour Plans #impactassessments #energytrilemma #sustainability #justenergytransitionSA https://lnkd.in/gatR4Qma

🛑 Earlier this week, we launched the GRI Mining Standard (#GRI14)!  As the first global reporting standard to holistically address the #sustainability impacts in the #mining sector, the new Standard enables companies to disclose their most significant impacts on the environment, communities, and workers. 🌏👷♂️ The fourth addition to GRI #SectorStandards series, GRI 14: ✅ Sets expectations for site-level transparency that reflect local impacts, to help stakeholders assess both impacts and risks by location and specific minerals  ✅ Covers critical themes that range from #emissions to #waste, #humanrights to land and resource rights, #climatechange to #biodiversity, anti-corruption to community engagement ✅ Introduces three topics not previously addressed by GRI yet of specific relevance to mining firms: tailings management, artisanal and small-scale mining, and operating in conflict zones. The Standard applies to all organizations engaged in mining and quarrying, including exploration and extraction, primary processing, and related support services, and is now freely available for download. More info, including on Standard’s multi-stakeholder development process, is available here 👉 https://ow.ly/4zn050Qzfu8