The mining industry is under pressure from weak commodity prices and increased costs. Shareholder activism is on the rise, and a range of external stakeholders demand companies demonstrate how they are managing risks and mitigating impacts. Around the globe, anti-corruption legislation is becoming more stringent, and mining companies face heightened risks for non-compliance. Stakeholder expectations are rising for transparent disclosure of performance and compensation. Talent attraction and retention is a major challenge: in executive positions the talent gap is widening, making it imperative to retain top talent for effective and skilled management.
Why Is This Important to Our Stakeholders?
Our stakeholders want us to demonstrate that we have the appropriate organizational structures and accountabilities in place to reduce risks. They want us to generate superior returns from high-quality assets, while being transparent through reporting on performance, trends and outcomes.
Why Is This Important to Us?
Good governance is the foundation on which we build our responsible management and industry-leading results. We strive to provide our shareholders and other stakeholders with clear and concise disclosure about our policies, programs and performance.
Our strategy is to build governance and accountability mechanisms that position our company to optimize results and safeguard long-term success. Strategic management appointments provide our leadership team the opportunity to manage events which could have reputational, financial, operational, environmental or community impacts. Our Sustainability Excellence Management System (SEMS) as well as our Enterprise Risk Management (ERM) framework help us better identify, manage and mitigate these impacts. We also perform ongoing risk assessments for the local and national geographical areas where we work. These are multi-faceted assessments that take into consideration the environmental, social, political and economic risks of the countries where we operate.
The Board of Directors and our Executive Management team recognize the importance of strong corporate governance to effectively manage our company and to protect employees and shareholders. Our approach to issues of corporate governance is designed to ensure that our business and affairs are conducted so as to enhance long-term shareholder value. Guidelines and requirements for ethical practices are incorporated into various SEMS standards. For more information on our policies, please visit this report’s section on our Corporate Policies.