Miners continue to face corruption challenge

THE Mining Journal World Risk Report (feat. MineHutte ratings) identified increased transparency as a frontline issue in improving governance and ultimately enhancing stakeholder relationships. But hopes for significant strides in this area took a major hit last month when Transparency International released its Corruption Perceptions Index 2017.

Miners continue to face corruption challenge Miners continue to face corruption challenge Miners continue to face corruption challenge Miners continue to face corruption challenge Miners continue to face corruption challenge

Discussions with industry as part of the World Risk Report concluded a lack of transparency - or prevalence of corrupt practices - specifically around the awarding of operational licences and the levels of tax and other payments (including how that money is spent), was damaging the industry's reputation and increasing general risk. 

"Without any market visibility, it's impossible to make fair arrangements on several fronts: from the company's perspective; to meet community expectations; and to make sure the community as a whole knows what the arrangement is," Brendan Cahill, managing director of Mexico-focused silver miner Excellon Resources, told Mining Journal previously.

"This is a huge problem." 

There has been a general feeling among industr...