{"id":1183429,"date":"2020-05-08T14:59:54","date_gmt":"2020-05-08T19:59:54","guid":{"rendered":"https:\/\/www.mining.com\/?p=1022971"},"modified":"2020-05-08T14:59:54","modified_gmt":"2020-05-08T19:59:54","slug":"social-license-soon-to-be-akin-to-a-mining-license-report","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1183429","title":{"rendered":"Social license soon to be akin to a mining license \u2014 report"},"content":{"rendered":"<p>With both the population and the workforce aging, the mining sector needs to reposition itself to secure social licences (SLO) and attract the in-demand millennial talent pool, <a rel=\"noreferrer noopener\" aria-label=\"BDO (opens in a new tab)\" href=\"https:\/\/www.bdo.ca\/en-ca\/home\/\" >BDO<\/a> said in a recent report.<\/p>\n<div class='ad-slot' id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {    googletag.display('div-gpt-ad-1561499308230-0');    googletag.pubads().addEventListener('slotRenderEnded', function (event) {        if (event.isEmpty) {            var id = event.slot.getSlotElementId();            var x = document.getElementById(id);            if(x == null) return;            if (x.parentElement.classList.contains('ad-slot')) {                x.parentElement.style.display = 'none';            }\t\t\t\t        }    });});<\/script><\/div>\n<p>According to Sherif Andrawes, BDO\u2019s Global Head of Natural Resources, stakeholders are demanding stronger engagement, transparency and accountability, so much so that a social license will soon be akin to a mining license. &nbsp;<\/p>\n<p>\u201cIf we want to combat climate change, we need the mining sector to supply the raw material for the manufacture of electric vehicles, wind turbines and solar panels,&#8221; Andrawes says.  <\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>&#8220;Stakeholders are demanding stronger engagement, transparency and accountability, so much so that a social licence will soon be akin to a mining license&#8221; &nbsp;<\/p>\n<p><cite>Sherif Andrawes, Global Head of Natural Resources, BDO<\/cite><\/p><\/blockquote>\n<\/figure>\n<p>&#8220;To meet the aspirations of consumers, mining is essential in the making of communications devices, consumer electronics and food production. Social license is the key to unlocking these positive mining outcomes. \u201d <\/p>\n<p>&#8220;People see phones, cars, TVs but the link back to mining is often not made,&#8221; Andrawes says.<\/p>\n<h2>Green economy<\/h2>\n<p>Global demand for strategic minerals is expected to skyrocket, as will demand for copper iron and many others, according to the World Bank.<\/p>\n<p>The metals needed to make the rechargeable batteries used in devices and EVs, as well as the green infrastructure needed to generate and store the electricity needed to run them, include graphite, manganese, vanadium, nickel, cobalt, copper, rare earths, and lithium.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/image-1.png\" alt=\"\" class=\"wp-image-1022997\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/image-1.png 955w, https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/image-1-300x166.png 300w, https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/image-1-768x425.png 768w\" sizes=\"(max-width: 955px) 100vw, 955px\" \/><\/figure>\n<p>Mining companies will increasingly be called upon to address climate change by directly reducing their carbon footprint and also by encouraging stakeholders to integrate climate change into their planning, according to BDO&#8217;s report.<\/p>\n<p>&#8220;No longer are social license and community engagement afterthoughts. Sustainable, socially aware funding has reached a tipping point in mining company board rooms. ESG is already a key concern for fund managers facing tighter restrictions on where funds can be deployed,&#8221; Sherif says.<\/p>\n<p>Global investment in sustainability reached $30.7 trillion in 2018 according to the <a rel=\"noreferrer noopener\" aria-label=\"biennial Global Sustainable Investment Review (opens in a new tab)\" href=\"http:\/\/www.gsi-alliance.org\/wp-content\/uploads\/2019\/03\/GSIR_Review2018.3.28.pdf\" >biennial Global Sustainable Investment Review<\/a>, a 34% increase in two years. <\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/image-2.png\" alt=\"\" class=\"wp-image-1022998\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/image-2.png 1011w, https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/image-2-300x115.png 300w, https:\/\/www.mining.com\/wp-content\/uploads\/2020\/05\/image-2-768x293.png 768w\" sizes=\"(max-width: 1011px) 100vw, 1011px\" \/><\/figure>\n<p>In these scenarios, losing social support, or social license to operate (SOL), is  seen as the main risk mining and metals firms are facing these days, a <a rel=\"noreferrer noopener\" aria-label=\"study published by Ernst &amp; Young&nbsp;(EY) shows (opens in a new tab)\" href=\"https:\/\/www.mining.com\/stakeholder-pressure-ethical-investing-make-losing-licence-to-operate-biggest-threat-to-miners\/\" >study published by Ernst &amp; Young&nbsp;(EY) shows<\/a>. <\/p>\n<p>\u201cIncreased stakeholder pressure and the rise of ethical environmental, social and governance (ESG) investing continues to keep license to operate top of mind for the sector in&nbsp;Canada&nbsp;and abroad,\u201d Jeff Swinoga, EY Canada Mining &amp; Metals co-leader, says in the report.<\/p>\n<p>Building a strong and sustainable social license with shared values among stakeholders requires time, commitment and cash.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>&#8220;No longer are social license and community engagement afterthoughts. Sustainable, socially aware funding has reached a tipping point in mining company board rooms&#8221;<\/p>\n<p><cite>Sherif Andrawes, Global Head of Natural Resources, BDO<\/cite><\/p><\/blockquote>\n<\/figure>\n<p>\u201cThe sector is looking at a long game \u2013 local communities are not going to wait for the transition to be cost effective, so the necessary disruption may mean a different profit horizon for transitioning mining companies,\u201d Andrawes says. <\/p>\n<h2>Millennials<\/h2>\n<p>A new industry narrative will also play a crucial role in <a href=\"https:\/\/www.mining.com\/mining-for-millennials\/\"  rel=\"noreferrer noopener\" aria-label=\"helping miners attract the in-demand millennial talent pool.  (opens in a new tab)\">helping miners attract the in-demand millennial talent pool. <\/a><\/p>\n<p>Data from BDO shows that currently 39% of the industry\u2019s workforce is made up of Gen Y and millennials, currently between 25-39 years old, but Sherif says more will be needed as baby boomers retire and Gen X move into leadership positions. &nbsp;  <\/p>\n<p>A study by&nbsp;The Society for Human Resource Management&nbsp;showed that <a rel=\"noreferrer noopener\" aria-label=\"94 per cent of millennials want to use their skills to benefit a cause (opens in a new tab)\" href=\"https:\/\/www.shrm.org\/resourcesandtools\/hr-topics\/behavioral-competencies\/global-and-cultural-effectiveness\/pages\/millennial-impact.aspx\" >94% of millennials want to use their skills to benefit a cause<\/a>.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> Millennials want to save the planet and mining doesn\u2019t currently appear on their career radars <\/p>\n<\/blockquote>\n<\/figure>\n<p>\u201cMillennials want to save the planet and mining doesn\u2019t currently appear on their career radars. It\u2019s seen as a \u2018sunset\u2019 industry dominated by middle-aged managers, lacking in entrepreneurial endeavour,\u201d  Andrawes says.<\/p>\n<p>Andrawes adds that millennials are also not aware of the mining sector\u2019s urgent need for digital skillsets as it transitions to advanced technologies like AI and machine learning. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The industry needs to align with ESG values and attract the in-demand millennial talent pool.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2648,624,2849,369,4,2857],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1183429"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1183429"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1183429\/revisions"}],"predecessor-version":[{"id":1183445,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1183429\/revisions\/1183445"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1183429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1183429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1183429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}