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2020 REPORT EXCERPT 2020 REPORT EXCERPT 2020 REPORT EXCERPT 2020 REPORT EXCERPT 2020 REPORT202020 REPORT EXCERPT EXCERPTEX 2020 REPORT EXCERPT 20202022020200 REPORT EXCERPTEX 2020020200 REPORT EXCERPTEX 2020 REPORT EXCERPTEX CERPT 2020 REPORT EXCERPT 20200 REPORT EXCERPTEX 2020 REPORT EXCERPTEXCERPT 2020 REPORT EXCERPT 2020 REPORT EXCERPT 2020220202020200 REPORT EXCERPT 2020 REPORT EXCERPT2020 2020 REPORT EXCERPT 2020 REPORT EXCERPT Contents CREDITS 2 FOREWORD 3 1 EXECUTIVE SUMMARY 5 2 LEADERSHIP 11 3 EXECUTIVE INTERVIEWS 15 In the full 124-page report CREDITS 2 FOREWORD 3 1 EXECUTIVE SUMMARY 5 Aims & methodology 6 The C-suite Agenda 7 2 GLOBAL LEADERSHIP SURVEY 23 Stakeholder comparisons 24 The outlook for 2030 28 2020 Communication and planning 31 3 EXECUTIVE INTERVIEWS 33 4 LEADERSHIP 115 Leadership characteristics 116 This report is available online www.mining-journal.com/glr2020 Credits Editorial Head of Aspermont Research & Intelligence Chris Cann E-mail: [email protected] Senior research analyst Rebecca Meeson-Frizelle E-mail: [email protected] Intelligence researcher Samantha Hall E-mail: [email protected] Contributing partner George Hemingway, The Stratalis Group Editorial enquiries Tel: +44 (0)20 8187 2330 E-mail: [email protected] Design Group digital & creative director Abisola Obasanya Advertising Sales Director Nathan Wayne Tel: +61 (08) 6263 9126 E-mail: [email protected] Subscriptions and circulation enquiries Sales director Roger Cooke Tel: +44 (0)20 8187 2330 E-mail: [email protected] Senior global subscriptions manager Emily Roberts Tel: +61 (0) 432 245 404 Email: [email protected] For Mining Magazine subscriptions, please contact Tel: +44 (0)20 8187 2330 E-mail: [email protected] www.aspermont.com www.mining-journal.com/glr2020 Published by Aspermont Media, WeWork, 1 Poultry, London, EC2R 8EJ, UK. Printed by Stephens & George Magazines, Merthyr Tydfil, UK. Subscription records are maintained at Aspermont Media Ltd, 21 Southampton Row, London, WC1B 5HA Chairman Andrew Kent Managing director Alex Kent Group chief operating officer Ajit Patel Group chief financial officer Nishil Khimasia Chief commercial officer Matt Smith Aspermont Media, publisher and owner of the Project Pipeline Handbook (‘the publisher’) and each of its directors, officers, employees, advisers and agents and related entities do not make any warranty whatsoever as to the accuracy or reliability of any information, estimates, opinions, conclusions or recommendations contained in this publication and, to the maximum extent permitted by law, the publisher disclaims all liability and responsibility for any direct or indirect loss or damage which may be suffered by any person or entity through relying on anything contained in, or omitted from, this publication whether as a result of negligence on the part of the publisher or not. Reliance should not be placed on the contents of this publication in making a commercial or other decision and all persons are advised to seek independent professional advice in this regard. © Aspermont Media 2020 2 2020 edition Foreword The C-suite Agenda: sustainability reigns supreme By Tom Butler The rising prominence of environmental, social and governance indicators as measures of societal impact has led companies across all sectors to evaluate their corporate purpose and contribution. This is to be welcomed. In reading this valuable report, it is clear that sustainability is now front of mind for a mining company’s C-suite, as they look beyond the investment community and positively engage with their broader stakeholder base to embed sustainability into corporate strategy. The most interesting aspect of this report is how leaders see their priorities evolving. SAFETY For example, leaders say they are preoccupied about safety now, but think it will not be a priority in the Tom Butler, chief executive, International Council on Mining future. Perhaps that is because they think that in and Metals 10 years’ time safety will be “solved” and there will be levels and leveraging past experiences. ICMM’s eight no more accidents. I hope they are right, but one key learnings are ultimately connected through a could argue that unless safety remains a top priority, strong, organisational culture with safety as a key this will not be the case. value. It is therefore vital for this to be in place for any As an industrial activity, the mining industry can of the lessons learned to be successfully implemented. be hazardous, and despite the implementation I hope this is why leaders have ranked safety so low in of comprehensive safety management systems 10 years’ time – because by then it will be embedded fatalities continue to occur. A single fatality is one as a value in their organisations’ culture, both now and too many and, to put it simply, as an industry we in the future. must improve. This prompted the International Council on Mining and Metals (ICMM) to engage RESPONSIBLE SOURCING with members to facilitate several honest and open A second interesting example is how the c-suite discussions on how performance improvements see responsible sourcing evolving as a priority. could be accelerated. The publication of ICMM’s I think this rightly reflects a recognition that there has ‘Preventing Fatalities: Eight lessons learned’ paper been a seismic shift in recent years to a ‘purpose-first’ was the culmination of learnings gathered over mentality, with investors, end consumers, and other several years, with the primary aim of catalysing stakeholders justifiably demanding evidence that conversation and igniting debate within the industry. critically important raw materials are being produced responsibly. Traditional focus on maximising A key learning is that leadership affects all aspects shareholder value is no longer acceptable and of organisational performance. Contrary to the traditional ‘leader is boss’ notion that has prevailed in the industry, the type of leader needed to deliver In reading this valuable safe and healthy production is someone who makes report, it is clear that these matters personal and leads by example. sustainability is now front of For many companies, addressing these issues will require instilling fundamental changes to their values mind for a mining company’s and culture. This means embedding a zero fatalities C-suite mindset, stimulating leadership conversations at all 2020 edition 3 Foreword companies must show accountability and transparency had invested in developing their social performance throughout the supply chain. capacity over the years. The question stakeholders continue to ask is how can As the industry turns its attention from the ‘response’ this be guaranteed? There are multiple voluntary to the ‘recovery’ phase, it has a vital role to play, both initiatives which seek to answer this question, including in helping communities and supply-chains rebuild, ICMM’s Mining Principles which are a condition of our and to promote long-term economic recovery and membership and include robust site-level validation social wellbeing. Without vibrant and supportive of the underlying detailed performance expectations. communities around them, mines will struggle to These principles apply to all members’ sites across the operate. Some observers are saying that the post world, which equates to roughly 650 assets in over pandemic economic recovery phase will last 10 years. 50 countries. Stakeholders will increasingly demand Those businesses that are not building and maintaining clarity on equivalency and consolidation of these these vital community relationships during this time initiatives, and we are therefore actively engaging will struggle to attract capital in the future. with the other initiative owners to assess this. CULTURE/EMPLOYEE ENGAGEMENT SOCIAL LICENCE/COMMUNITY ENGAGEMENT And finally, as I mentioned above, this report shows The third interesting feature is that social licence is that executives are prioritising ‘Culture and employee ranked second, both now and in the future. This engagement’ both now and in the future. I have already reflects how important it is to get this issue right, touched upon culture in the context of safety, but it and how investment of time and effort will continue links to the other two topics explored above as well. to be needed as miners move into ever more remote People increasingly want to work for purpose driven regions in the future. companies, that operate responsibly, and that have the right values. It takes careful thought and effort to build Although there have been some high profile examples the right kind of culture to support that – but it will be recently of value destruction when the industry got critical for talent retention to get it right. Some of my social licence issues wrong, I feel we have made a lot members comment that the ratio of “soft” engineers of progress since I started in the industry 20 years ago. to “hard” engineers needed will change radically in A good example surfaced at the start of the COVID-19 the future as we automate and digitise. We will, as an pandemic, when we were convening member industry, be competing for talent with Silicon Valley. companies to rapidly share lessons and knowledge To win that talent, we need to build a culture that will as they sought to respond. It was noticeable to me attract – and we need to communicate beyond our that the companies showing the strongest ability to industry about our purpose and about the incredibly support the community response were those that positive impact that we have when we get it right. Image: Luis Tosta on Unsplash 4 2020 edition EXECUTIVE SUMMARY Aims & methodology 6 Pyramid 7 Top current priority: Safety 9 1 Executive summary Aims & methodology This year’s Mining Journal Intelligence Global Leadership Respondents then had the opportunity to rank the Report (GLR), with partners Stratalis and Swann Global, issues for each of the three buckets on a scale of one presents ‘The C-Suite Agenda’. Here, we have to five: five being most important, and one being evaluated the top priorities for a mining company least important.

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