January 30, 2020
Investment

Government announces preparation of guidelines on best practices for mining companies

Government announces preparation of guidelines on best practices for mining companies
The initiative seeks to promote early citizen participation in investment projects.

The acting Minister of Mining, Ricardo Irarrázabal, led a “Conversation on Community Relations and Due Diligence: How to achieve socially sustainable mining?” in which over 40 representatives of the industry participated. The meeting served as an opportunity to discuss responsible business conduct.

The acting minister announced the preparation of guidelines on best practices for mining companies in a bid to promote early citizen participation in investment projects.

“For sustainable economic and social development, work is required including the analysis and application of standards such as those proposed by the OECD in its guidance on due diligence. That is why guidelines and responsible business conduct are so important for mining projects because they seek to ensure compliance with standards that contribute to the economic, social and environmental progress of the countries where they are located,” he said.

The guidelines are in addition to the National Mining Policy on which work began in August 2019. Its objective is to advance towards even more sustainable mining, taking into account the importance of its role in daily life and the global challenges faced by the industry environmentally due to climate change.