Sustainalytics uses MAC's TSM in its Evaluation Process
OTTAWA, June 11, 2013 /CNW/ - Two members of the Mining Association of Canada (MAC), IAMGOLD and Teck Resources Limited (Teck), have made the fifth annual Top 50 Socially Responsible Companies list produced by Maclean's Magazine and Sustainalytics.
Companies are evaluated by Sustainalytics on their performance across a broad range of environmental, social and governance indicators. Sustainalytics' research process includes a thorough examination of company documents, media sources, online databases, government sources and NGO research, as well as direct communication with key stakeholders. Of particular interest to MAC, Sustainalytics has recognized the association's Towards Sustainable Mining (TSM) initiative and its work on tailings management as particularly helpful in identifying leaders in the Canadian mining industry.
IAMGOLD, a Canadian-based mid-tier gold producer with mines in Canada, South America and Africa, was recognized for its ongoing work to develop a company-wide biodiversity management program, as well as for implementing a "substantial environmental program to manage its tailings, [which] is aligned with the Mining Association of Canada's Guide to the Management of Tailings Facilities, considered an industry best practice."
"IAMGOLD's reporting under the Mining Association of Canada's Towards Sustainable Mining initiative indicated to us that the company is proactively and systematically managing the risks associated with its tailings facilities," said Irene Sosa, Senior Analyst, Sustainalytics. "TSM provides valuable and detailed information about an issue that can pose significant operational and reputational risks to mining companies and their shareholders."
Teck, Canada's largest diversified miner with operations in Canada, the United States and South America, was recognized for its strong community engagement practices, particularly with women and vulnerable groups. Moreover, Teck was acknowledged for its work with international organizations and NGOs for its Zinc & Health program that aims to reduce child mortality and illnesses stemming from zinc deficiency.
"Teck has made community engagement a top priority and this achievement recognizes the company's successes in this area. It is also an aspect where Teck shines in our Towards Sustainable Mining initiative, evidenced by the company's strong performance in the program's community outreach indicators," said Pierre Gratton, MAC's President and CEO.
"We're proud to see MAC members on this list year after year. This distinction from Sustainalytics - a global leader in sustainability analysis - showcases the solid reputation the Canadian mining industry has in adopting the highest environmental and social standards," added Gratton.
To view the complete Top 50 Socially Responsible Companies list, visit Maclean's website at www2.macleans.ca/canada-top-50-socially-responsible-corporations-2013.
The Mining Association of Canada is the national organization for the Canadian mining industry. Its members account for most of Canada's production of base and precious metals, uranium, diamonds, metallurgical coal, mined oil sands and industrial minerals and are actively engaged in mineral exploration, mining, smelting, refining and semi-fabrication. Please visit www.mining.ca.
SOURCE Mining Association of Canada (MAC)