The Responsible Gold Mining Principles can reshape gold industry best practice
The push toward environment, social, and governance best practice has naturally resulted in multiple industry bodies publishing overlapping standards and principles to dictate the behaviour of member companies, however, the next few years are likely to see the number of guidelines shrink as they come together to simplify the standards landscape, according to World Gold Council (WGC) director, market relations and climate change lead, John Mulligan.
Mulligan said the WGC and International Council on Mining and Metals (ICMM) had recently published a set of equivalencies to link the guidelines from both parties. The ICMM is working with multiple owners of various standards to establish further equivalencies that will increasingly align these best-practice guidelines.
"There are a number of industry standards or guidelines that vary in terms of their depth and range, but it's important to acknowledge they cover a lot of the same ground because the industry is aware of what those material risks and factors shaping industry look like," he said.
"There are some differences. For the Responsible Gold Mining Principles (RGMPs), we wanted to put in place a set of detailed principles, in one place. It isn't really that this is a new standard; it's a framework that has brought together an awful lot of what was already good practice. [But] there are some things that affect gold miners that don't affect other miners.
"If we were to look at the direction of travel for the whole industry, then what we're talking about is increasing convergence, collaboration [and] cross-recognition."
In the podcast interview, Mulligan also discusses the key purposes of the RGMPs, what they cover, how they were built, then how they may shape gold mining into the future. In a separate interview, we asked him about gold's historic relationship with investors and its gold miners' role in positively affecting stakeholder groups beyond the life of mine.
Mining Journal Stakeholder Engagement is a platform for conversation between the mining industry and key stakeholders. The programme is designed to help set a practical path to better engagement, reduced risk and better practices.
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