Calls for transparency within mining as IMARC begins
Thursday, November 3rd, 2022
Former NZ Prime Minister Helen Clark and BHP group procurement officer James Agar have called for “radical” transparency in the mining sector.
Clark and Agar delivered keynote addresses at the first day of the International Mining and Resources Conference (IMARC) yesterday.
Agar said the industry needed to reflect on the experience of COVID-19 and use it to strengthen the industry’s resilience in the face of supply chain constraints.
“As a result of COVID, global demand vanished almost overnight,” he said. “What we learnt is that we can’t do it alone, we need to work collaborative and we need to be more transparent with our partners.”
Clark similarly highlighted the need for greater global transparency in her keynote address, flagging the difficulties in transitioning in a clean, just and sustainable manner.
“Most low-carbon technologies use far more mineral resources than its fossil fuel equivalent,” Clark said. “The bottom line is the world needs more mining.”
In his speech, Agar elaborated on BHP’s policy of “radical transparency and systemic collaboration” to ease pressures facing the mining giant.
Agar explained that the policy involves BHP building relationships with all stakeholders that support the company’s operations, no matter the size of the partner.
Extractive Industries Transparency Initiative (EITI) is set to release its report on Transition Mineral Value Chains and the Role of Good Governance at IMARC today.
The report will set out a framework for actors at sub-national, national, and international level to engage in transparent and ethical mining.
“Half of the 700 critical mineral sites in the 57 countries EITI reports in impact conservation areas,” Clark said.
“Eighty per cent of those sites are located near or on the land of Indigenous people or are of cultural significance.”
Since 2003, EITI has managed to disclose $US2.95 trillion of revenue across 57 countries.
This disclosure has provided the foundation for signatories to identify weaknesses, strengthen processes, and maximise the positive impact of the extractive industries within their region.
These issues will continue to be explored across the final two days of the conference.