SOCIAL POLICY
The following four interrelated characteristics serve as the foundation of their sustainability strategy:
SION sees themselves as guests in the host communities and nations where they operate, bringing economic benefits to both. They must distribute the advantages of their resource to them to successfully mine the gold and copper inside their communities and keep their social licence to operate.
Protecting health and safety – Without robust safety management procedures, mines can be highly hazardous locations. They must constantly try to keep their employees and the surrounding community safe and healthy.
Respecting human rights: SION is aware that the local communities and the host countries in which they operate are embedded in various social, economic, and political settings. They realize their obligation and chance to help the world’s population achieve their human rights.
Managing our environmental effects – Because mining is a necessary evil, SION’s mining enterprise will unavoidably have an influence on the environment. They have a duty to manage, mitigate, and rehabilitate to keep harmful effects to the absolute minimum while also producing beneficial effects.
GOVERNANCE POLICY
According to SION, real sustainability can only be provided on-site at each location, not from a corporate office. They use a bottom-up governance model that allows each site to take the initiative for its particular sustainability context and concerns. This means that each site must define and implement its sustainability initiatives and targets to manage its performance in support of its sustainability strategy, just as each site must manage its geological, operational, and technological capabilities to accomplish its business objectives.
ENVIRONMENTAL POLICY
The Board’s Environmental, Social, Governance & Nominating Committee (ESG & Nominating Committee), formerly the Corporate Governance & Nominating Committee, and the President and CEO discuss the E&S Committee’s reports. In February, the Board approved changing the name of this Committee to more accurately represent the crucial oversight function that this Committee performs for Barrick’s sustainability performance.
Key sustainability issues can be brought to the attention of the Executive and Board, allowing SION to see problems and opportunities early on, address them, and promote ongoing progress.
ALIGNMENT POLICY
In order to better define what responsible mining entails, the ICMM and the WGC introduced new frameworks in 2019 called the Mining Principles (MPs) and the Responsible Gold Mining Principles (RGMPs), respectively.
SION takes seriously its obligation to create gold in an ethical manner. Their strategy for adhering to these two frameworks has been to combine the two frameworks into a unified framework that we call RGMP+ by evaluating which requirement is more strict for each principle using the equivalency tables Read more
