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Re: gsfl post# 133

Saturday, 04/21/2012 6:40:13 PM

Saturday, April 21, 2012 6:40:13 PM

Post# of 156
FOCUS: Corporate Social Responsibility Growing Focus For Mining Industry

30 March 2012, 11:09 a.m.
By Debbie Carlson
Of Kitco News
http://www.kitco.com/

http://www.kitco.com/reports/KitcoNews20120330DeC_CSR.html

... Corporate social responsibility has become a “buzzword” in the past decade and is becoming part of many industries, mining and exploration included. CSR, as it is called, is alternatively known as being a “good corporate citizen” or paying attention to the triple-bottom line of “people, planet, profit.”

CSR at one time was derided by cynics as “feel-good” practices at best, with no tangible impact on a firm’s earnings, or as a ploy for good public relations. But companies are learning that there are some practical and profitable applications by focusing on protecting the environment, being proactive regarding health and safety of employees, or working with indigenous and local populations beyond what is required by government regulations...

... Paul Klein, founder, Impakt Corporation, which advises companies on how CSR can increase business value, said the mining industry has made strides in the area. “It’s positive how far the industry has come in a short period of time. More cynically you can say they had to come a long way, but it doesn’t matter because of the remarkable impact it has had environmentally and socially,” he said...

... Costs can be a sticking point, Klein said. But there are some ways even smaller firms can boost transparency. He likes Ontario-based Noront Resources’ initiative. “They developed a web portal for people to see videos of local people just talking about what was important to them. It was a big deal for a company of that size,” he said.