The transition of mineral exploration and production into ever more challenging geographies means companies are increasingly faced with political interference, physical insecurity and socio-environmental issues.
Drawing on decades of experience both on the ground at mine projects and advising management teams, Verisk Maplecroft’s mining practice provides companies with the tools and insight they need to bring predictability to their decision-making, reduce overheads and liabilities and optimise stakeholder relationships.
Verisk Maplecroft’s multi-award-winning Global Risks Portfolio (GRP) integrates issues, such as conflict, regime stability, corruption, human rights abuses, climate change and natural disasters. This intelligence enables our mining clients to identify, monitor and manage all above-ground risks to their business down to site-specific levels through our qualitative reports and the unique data contained within our 200 quantitative risk indices and interactive maps.
Verisk Maplecroft also offers mining firms a range of advisory services to help them sustain their license to operate in mineral rich emerging economies. This includes an award-winning reporting service, and advisory services including: human rights due diligence; impact assessment and monitoring; and supply chain management, which are complemented by a suite of interactive risk calculators and dashboards.
Visit Verisk Maplecroft’s Global Risks Portfolio to see full details of available products, including risk indices, maps and country scorecards, as well as in-depth reports that can be tailored to the mining sector. Alternatively register for free trial access.
01Establishing sustainability leadership for a precious metals producer
Verisk Maplecroft has supported a major precious metals producer for the past two years in its efforts to achieve ‘full-spectrum’ sustainability leadership. During this time the company has received numerous external accolades and third party recognition (including from host governments) for its commitment to sustainable mining.
Our work for them includes:
- Tailored risk monitoring, including development of a customised, online company dashboard and accompanying analysis.
- Risk management and on-going engagement programmes at mine operations across three continents.
- Development of an integrated mine lifecycle approach to global risks and Sustainable Development (SD) planning.
- Board-level SD strategy consultation and implementation, including scenario-planning and trend analysis.
- Production of its award-winning integrated annual report.
02Managing supply chain risks for a major gold mining company
Verisk Maplecroft was contracted by a major gold-mining company to provide its procurement function with a comprehensive solution to managing environmental, social and governance (ESG) risks associated with its global supply chain of more than 10,000 companies of various sizes.
- To facilitate this Verisk Maplecroft developed a closely-scoped and highly interactive online information portal, into which the company was able to upload its basic supplier information for a pre-screening process that sorted and identified its highest-risk suppliers as a combination of their country of operation, type(s) of service or product provided, and size and materiality of spend.
- Suppliers flagged as of concern from this initial screen were then invited to complete an online self-assessment questionnaire specially developed for the client by Verisk Maplecroft in order to assess the risk management proficiency for each service provider.
- The functionality of the web-based analysis system enabled the client automatically to allocate each supplier assessed to different follow-up actions, such as audits or direct engagement on required process improvements to ensure future compliance with the company’s code of business conduct.
- Features also include daily-updated information on emerging ESG risks, a central, secure storage centre for the company’s relevant policies and codes of conduct and the generation of individual supplier ESG risk ‘scorecards’ and multi-supplier risk matrices to enable company comparisons.
Verisk Maplecroft’s tailored supply chain questionnaire and risk calculator enabled the company to provide substantially improved corporate reporting on its ESG supply chain risk management and local procurement performance in both its annual report and accounts, and its broader communication with stakeholders.
03On-the-ground risk assessments of mining projects in West Africa
Verisk Maplecroft is supporting a pioneering minerals producer in West Africa, as it seeks to expand its operations and achieve international financing. Our work for them has included a detailed, on-the-ground risk assessment to help provide assurance to investors and to enhance the company’s own risk management proficiency.
- Detailed field work, including engagement with community representatives, public officials, regulators and local NGOs, as well as internal engagement with senior management, discipline managers, trade union representatives, and many others.
- Evaluation of the latent risks facing the project, which have the potential to undermine business sustainability in the short-, medium- and long-term (including historical analysis).
- Evaluation of the current ability of the company to effectively manage these risks, including relevant policies, management systems, resources and capabilities – as well as established approaches.
- Identification of the residual risks remaining – and suggestions as to how these can be further reduced by the company through the application of international best practice.