sharing in governance of extractive industries

Mining Local Procurement Reporting Mechanism at PDAC 2019

Event Details

Mining Local Procurement Reporting Mechanism at PDAC 2019

Time: March 5, 2019 from 1pm to 2:30pm
Location: Le Germain Hotel Toronto Mercer, Hatley Room
Street: 30 Mercer Street
City/Town: Toronto, ON
Website or Map: https://www.eventbrite.com/e/…
Event Type: information, session
Organized By: Jeff Geipel
Latest Activity: Mar 6

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Event Description

For those at PDAC 2019 in Toronto, come learn how the Mining Local Procurement Reporting Mechanism (LPRM) can help mining companies, host country suppliers, communities and government to work together to increase the share of benefits
that stay in the African countries that host mining.

Register at eventbrite

Download the LPRM and linked guidance notes at miningsharedvalue.org/mininglprm

Increasingly it is recognized that there are significant risks if meaningful economic benefits do not materialize for local communities and countries where mining activity takes place. Local procurement is gaining attention as an issue that companies must get right. Today, many governments are turning to regulatory mechanisms and, more and more, leading financing institutions are evaluating mining company performance on the issue.

Given the growing attention and urgency, guidance has been developed to support mining companies to boost their performance on local procurement by improving their reporting on the issue, and thus internal management.

The Mining LPRM is a publicly available set of disclosures that seeks to standardise how the global mining industry and host countries measure and talk about local procurement. In most cases procurement of goods and services is the single largest in-country payment type by a mine site, and yet to date there has been no commonly accepted way of reporting on the issue.

Commissioned by the German development agency GIZ and created by the Mining Shared Value initiative of Engineers Without Borders Canada, the LPRM helps mine sites report on local procurement to:

  • Improve internal management in mining companies to create more benefits for host countries and to strengthen their social license to operate.
  • Empower suppliers, host governments, and other stakeholders with practical information that helps them to collaborate with mine sites.
  • Increase transparency in the procurement process to deter problematic practices such as corruption.

Join us in Toronto for an interactive session showing how the LPRM can help improve economic development outcomes of mining activity in host countries, and also help mine sites have a better social licence to operate. 

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