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Mining setting out to spread its benefits to maximum number of people

24th February 2017

By: Martin Creamer

Creamer Media Editor

     

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There are many initiatives on the go at the moment that show the willingness of the mining sector to spread its benefits as far and as wide as possible for the benefit of a maximum number of people – and to hurt as few as possible

Many mining visions are being enunciated to goad mining towards floating as many economic boats as possible for as many host citizens as possible.

There is the African Mining Vision, the Zambezi Protocol, several United Nations mandates, mining charters and a myriad of individual mining company initiatives to ensure that the required taxes and royalties are transparently paid to host governments; environmental restoration guarantees are set in place, near-mine communities receive beneficial spin-offs and more is done to keep employees healthy and out of harm’s way.

Admittedly, the initiatives have still to satisfy all host governments and nongovernmental organisations, but institutions like the International Council on Mining and Metals, chambers of mines and progressive companies are open-mindedly engaging all and sundry to bring about meaningful change.

Creating shared value through effective collaboration is achievable in the opinion of more and more mining leaders on the basis of the sector still representing a significant vehicle for driving inclusive growth.

Evolving the areas of dissatisfaction in the African mining sector requires moving from the current series of tactical actions to a more cohesive, inclusive and strategic approach.

The intent must be to exit the current backward-looking, destructive, downward spiral in which mining is currently locked and shift to a positive, constructive cycle that offers a ‘win-win’ deal for all.

This view, laid out in the Brenthurst Foundation’s discussion paper 7/2016, outlines that, for a win-win deal to occur, all parties need to recognise the inevitable outcomes of the current cycle – the gradual deflation and downsizing of the industry.

Its Zambezi Protocol document – the outcome of a dialogue on natural resources policy in Africa by Africans – highlights the losers of mining’s fall as current and future workers, governments, populations and the mining companies.

The difficult issues that have underwritten the current crisis will need to be addressed.

The mining world saw Chamber of Mines of South Africa president Mike Teke make a strong start in that regard at the Investing in African Mining Indaba, in Cape Town, when he called on the South African mining industry to renounce its apartheid past in the interests of its shared value future.

“One of my greatest wishes is that the industry resolves to deal with this. And soon,” said Teke, who declared a more direct link between profit and employee earnings as being “highly desirable”.

This follows the call of Chamber of Mines VP Neal Froneman at last year’s Joburg Indaba calling for a Truth and Reconciliation Commis- sion covering mining’s dreadful past.

The right conditions will enable mining companies to deliver inclusive growth and meet the expectations of stakeholders, as well as deliver superior returns to shareholders – this is the view enunciated by South32 president and COO Africa Mike Fraser.

All these strident comments are coming together to help to create a better industry.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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