Abstract
Globally, the mining industry is stepping up to the challenge of reducing emissions, mitigating waste, stewarding natural resources, looking after social impacts, and governance matters—but is it enough for stakeholders? Increasingly, mining companies are anxious about meeting internal expectations and regulatory compliance demands. In order to get certainty, companies are prioritizing a specialized set of assurance measures to: 1) have an ability to respond to regulatory compliance needs; 2) comply with internal standards, processes, and procedures; 3) document notable gaps; and 4) provide suggested remediation measures to mitigate risk.
This presentation is designed to discuss the heightened regulatory environment and compliance expectations, the importance of specialized assurance measures within the company’s internal and external obligations, and classification of risks associated with common gaps and remediation measures. As a secondary goal, this session will also highlight the importance of a data-driven approach that provides insights and takes into consideration local and cultural impacts.
Real World Example:
One of the largest mining companies in the world needed a legislative audit that entailed a review that would ensure it was meeting all standards—from environmental to human resources—dictated by government regulators. The risk of being out of compliance could be disastrous, resulting in disruptions, slowdowns, or, worse, a significant fine and/or loss of operations.