GRI Conference - 27 May - Elizalda - Mining and Metal Sector Supplement
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Transcript of GRI Conference - 27 May - Elizalda - Mining and Metal Sector Supplement
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CSR, Mineral Exploration and the Challenge of Accountability
Bernarda Elizalde, Program Director Sustainable DevelopmentProspectors and Developers Association of Canada
● May 27, 2010 ● GRI Global Conference ● Amsterdam, The Netherlands
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The mining cycle Closure: (5 sq km) $10Ms – 100Ms
Mining (5 sq kms) Mining (5 sq kms) $100Ms - $Bs$100Ms - $Bs
Advanced Exploration (5 sq kms)Advanced Exploration (5 sq kms) $10Ms - $100Ms$10Ms - $100Ms
Preliminary Exploration (X10’s sq kms) Preliminary Exploration (X10’s sq kms) $100Ks - $Ms$100Ks - $Ms
Land Acquisition (X00’s sq kms) Land Acquisition (X00’s sq kms) $10Ks - $100Ks$10Ks - $100Ks
Area Selection (X000’s sq kms) Area Selection (X000’s sq kms) $1K - $10sK$1K - $10sK
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Exploration players
Mining Producing CompaniesJunior Exploration SectorProspectorsGovernments
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Junior Interm. Senior Gov’t. Other TOTAL
Canada 1087 21 7 1116
Australia 498 21 4 1 3 527U.S.A 102 5 3 110
Europe 102 6 8 1 117
Africa 29 5 5 39Latin America
13 13 4 1 31
Rest of World
10 17 8 5 40
Number of Companies Size and HQ location
Source: Metals Economics Group
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Projects financed in Canada
5093
1228
583150
1056
310
688
81
314
125
359
Of the 9987 mineral projects held by TSX and TSX-V companies, 49% are outside of Canada
Source: InfoMine, Compiled by TSX, January 2008
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Exploration drives mining
Remote northern camp
Explorationists examine core
Photos: Selwyn Resources
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CSR context and realities
1) Evolving Expectations
3) Mobilization of civil society
4) Evolving expectations and uncertainties
5) Nothing against to benchmark, and no reporting
system applicable to the exploration sector
Environmental SocialHuman Rights and ethical practice
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CHALLENGES
Capacity limitations
Dependency on capital markets
Majority have no revenue from production
Show results in a short timeframe.
Lack of CSR guidelines
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The need to improve practices and reporting in the
exploration industry
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CSR performance of industry sectors
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CSR performance of industry sectors over time
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The CSR performance - expectation gap
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Tackling the challenges
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www.pdac.ca/e3plus
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KNOWLEDGE
ACCOUNTABILITY
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Meeting the GRI
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The aim of the partnership
Create a practical reporting system that would be applicable, convergent, and complementary to other reporting systems such as the capital market, or other governmental regulation systems.
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Vision• The PDAC and GRI agreed that we would need to:
– Create a model report for each exploration stage (early, intermediate, and advanced exploration)
– Ask exploration companies to apply some sections of the already developed GRI system, such as the materiality test and some applicable indicators.
• The GRI-e3 Plus reporting system would also:– Be applicable if a certification system is set in place. – Create software that would put together a more practical, user-friendly
reporting system.– Be applicable to finance institutions– Create different platforms for explorers to indicate their level of
compliance within the reporting system. Thus, they would not limit themselves to filling out a form, but they would have the motivation to report more things if they want to.
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Next steps• Formalize the partnership with the GRI • Discuss further details about timetables.
• The PDAC will:– Conduct further research
– Develop a first draft to create a two page reporting template for each exploration stage.
– Develop a review process with the PDAC CSR committee.
– Organize a consultation process with multi stakeholder groups.
Main needs – reporting systems
Applicable indicators and procedures from the GRI system