ESG Reporting is an Urgent Need for Sustainability
K2fly Blog
by Jessica
1w ago
A Shortfall in Governance Recent events have exposed how the current model evident in the mining industry doesn’t meet expectations for robust ESG performance. There is a need for ESG reporting in ensuring sustainability. The release of the Global Industry Standard on Tailings Management (GISTM) and the Australian inquiry into the destruction of the culturally significant Juukan Gorge caves underscore this issue. The current model – where semi-independent business units maintain local decision-making autonomy – has created silos stopping critical information from being effectively communicated ..read more
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Why mining companies rehabilitate land
K2fly Blog
by Jessica
1M ago
With increased regulatory pressure and greater environmental impact awareness and understanding, rehabilitation has become a crucial aspect of the success of any operation. Land rehabilitation is also an important part of the lifecycle as it enables safe, productive future uses after mining ceases. Rehabilitation meets legal and regulatory requirements for mining companies to minimise their environmental footprint. Overall, land rehabilitation is essential to restore mined areas to agreed-upon sustainable ecological, economic, and social conditions.   Reasons for Land Rehabilitation ..read more
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Stakeholder Engagement – Part of Everyday Business
K2fly Blog
by Jessica
1M ago
Redefining the Industry The race is on to secure the investment required to meet the growing demand for the minerals and metals critical to the energy transition, including, copper, lithium and nickel. Due to this and increased scrutiny, mining companies must also be focussed on achieving net-positive impact across ESG factors, with significant benefits to those that get it right. But to do this effectively, the resources industry needs to redefine the way that it engages with surrounding communities and the environment. Mining is a necessary market for societal growth, but companies must be h ..read more
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Reporting Aligned to the GRI Standards
K2fly Blog
by Jessica
2M ago
According to EY’s report, Top 10 business risks and opportunities for mining and metals, the last four years have stably held onto ESG as one of the top risks in the industry. With this, we have seen the emergence of ESG and sustainability reporting. 93% of 250 of the world’s largest companies report on their sustainability performance aligned with the Global Reporting Initiative. What is the Global Reporting Initiative (GRI)? The GRI is an international independent standards organisation assisting businesses identify sustainability measures and report material data to stakeholders. GRI provi ..read more
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(Part 3): 6 Problems With Resource Estimation Exposed From The Parker Challenge  
K2fly Blog
by George Boulden
8M ago
In this article, we will run through what The Parker Challenge is and the six problems with resource estimation that make The Parker Challenge necessary. Additionally, we will discuss the risks that were exposed for resource disclosure and how you can minimise your exposure.   Founder of SD2 and The Parker Challenge Host, Scott Dunham, stated that:   “One of the things that plagues the resource estimation discipline is that we all work independently, working on individual deposits to produce our estimates. We all understand that how the estimate performs is really difficult ..read more
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(Part 2): Ways The Parker Challenge Can Be Improved In 2024
K2fly Blog
by George Boulden
8M ago
The late Dr Harry Parker (1946-2019) contributed a considerable amount to standardising reconciliation nomenclature, as well as working on the CRIRSCO reporting code. The Parker Challenge culminates the work Dr Harry Parker achieved in his life to create something that he would have been equally fascinated and perturbed by.  Presented by Scott Dunham, The Parker Challenge set to find out if:  Given the same dataset, will geo-statisticians, geoscientists and geologists achieve the same estimation? What is the variability?  4 issues with The Parker Challenge   Even though the ..read more
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(Part 1): Findings From The Parker Challenge and Risks For Resource Disclosure
K2fly Blog
by George Boulden
8M ago
Given the same dataset, will geo-statisticians, geoscientists and geologists achieve the same estimation? What is the variability?  This is what The Parker Challenge set out to uncover.  The challenge, which has never been done before, generated some interesting results that miners should be aware of, particularly in the resource disclosure space.   In this article, we will run through The Parker Challenge and the findings that were drawn from it, as well as the risks that were exposed for resource disclosure and how you can minimise your exposure.   What is the P ..read more
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The Parker Challenge – Variance In Resource Estimation and The Risks For Resource Disclosure
K2fly Blog
by George Boulden
9M ago
Everyone knows there’s more than one way to skin a cat – but is there any variability in a skinned cat depending on which method was used? Will the way you skin a cat affect the yield? Or no matter the method, do you achieve the same result? In terms of mineral estimation, that is exactly what The Parker Challenge has tried to reveal. Given the same data set, will geo-statisticians, geoscientists and geologists achieve the same estimation? What is the variability? The challenge, which has never been done before, generated some interesting results that miners should be aware of, particularly in ..read more
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The Need for Mine Rehabilitation
K2fly Blog
by Jessica
1y ago
Throughout its lifetime, mining has the potential to impact the surrounding environment and communities. Many project developments become potentially sensitive for regulators, local communities, investors, and employees as a result of such effects, whether direct, indirect, or cumulative. Each mining operation is a transient land use and is anticipated to cease operations at some future date. When a resource is exhausted or when the cost of production outweighs the rewards, an operation is typically shut down. Therefore, the closure offers chances for mining-affected land to be restored to on ..read more
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Addressing the Top Mining Risks of 2022
K2fly Blog
by Jessica
1y ago
In KPMG’s most recent survey report, Global Mining Outlook 2022, the top risks for the mining industry were outlined. Their research shows how the mining industry is responding to a rapidly shifting environment of complex and diverse risks with an increasing focus on ESG. The Top Ten Global Mining Risks for 2022: Environmental Risks, including New Regulations Commodity Price Risk Community relations and social license to operate Political instability/nationalisation Global trade conflict Ability to access and replace reserves Permitting Risk Supply chain risks Talent crisis Regulatory and co ..read more
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