I think the answer is clearly yes.
Why does this matter?
It matters because stakeholder engagement is vital if you want a sustainable license to operate in mining.
All mining companies are now realising that license to operate is now a business strategy.
Stray too far from the path of acceptable behaviour and you lose your assets, and your access to capital.
So license to operate is vitally important.
And stakeholder engagement is crucial to this. Find out why, here.
It’s also fair to say that more diverse, female-balanced boards, are better at stakeholder engagement.
But look at the numbers: “Mining is the worst sector for gender diversity, with just 5 percent of
board seats in the top 500 mining companies held by women, according to a
recent report published by Women in Mining and PriceWaterhouse Coopers.”
So why do mining companies have so few women on their boards, if license to operate matters so much?
It’s because of two things:
1) They haven’t made the above connections yet.
2) Old attitudes die hard. Generational change in mining management is needed.
Here’s some further reading, and some compelling stats on board diversity in mining.
A smart mining company will see the writing on the wall and broaden horizons.