Issue link: http://resourceworld.uberflip.com/i/392638
o c t o b e r / n o v e m b e r 2 0 1 4 www.resourceworld.com 25 breach of the standard have several correc- tive avenues to follow. "The standard lays out the possible devia- tions from conformance and how to manage this," Heyman said. "The timeframe to correct a breach depends on its potential severity and the process [for] the necessary systems to be put in place. This entails a 60-day window." The standard's growing importance is reflected in the response of major refiners who are also keen to ensure the provenance of the material they process, Heyman stressed. He also highlighted the work of the London Bullion Market Association in establishing its own conflict-free guid- ance for refiners. "The refineries [want] the right practices in place. This is particu- larly the case for source material and many refiners ask mining companies to conform to the standard and show them evidence of this," he added. WoRKing PRaCtiCe WGC members were instrumental in the standard's formulation and continue to assist in its development. "We were involved from the start in all the multi- stakeholder consultations," Goldcorp Inc. manager corporate affairs, Chistian del Valle, told Resource World. "We took a lead in providing feedback to the WGC before the standard was released and one of our Mexican operations was one of two pilot projects used to test the standard's design." Goldcorp used the Heidelberg Conflict Barometer as a key reference point, match- ing it with its own country intelligence. Its report for 2013 is centred on the compa- ny's wholly-owned operations, excluding exploration and development projects, or operations where it does not have major- ity ownership. Goldcorp determined that Mexico, where it operates the El Sauzal, Los Filos and Peñasquito mines, fell within the standards criteria for reporting."Some Mexican regions are ranked two, three or four on the Heidelberg Conflict Barometer. The higher levels relate to drug cartel activities," del Valle explained. "There was consistency here with our own intelligence and so we decided to apply the standard across our Mexican operations." "We were already doing most of what the standard requires, although there were a couple of things we had to fine tune," he noted, adding that the standard was a useful vehicle through which Goldcorp could re-assess documentation relating to security providers and other third parties. Independent assurance for the company was undertaken by Ernst & Young. "The standard has been an opportunity to strengthen our own practices internally and this has proven the case since imple- mentation. It's allowed us to enhance some of our practices, policies and guidelines," del Valle said. "The standard has also provided something of a stamp of approval for our reputation in the countries in which we operate; it demonstrates strong governance policies, strong controls and our commitment to operate responsibly." Both Heyman and del Valle are con- fident that the standard's uptake and importance will continue to grow in the coming years. "The standard is about pro- moting sustainable economic development in gold-producing regions, which is posi- tive and something to support," Heyman said. "We're pleased with the uptake of member companies and non-member com- panies who've recognized the benefits. It's something we're going to see more of and that's a good thing." n Tel: UK: +44 (0) 20 7779 7222, US: +1 212 901 3828 Email: mktg@indmin.com Web: www.indmin.com/events/fluorspar Conrad Miami, USA Fluorspar 2014 11-13 November 2014 Research Partner: Sponsor: Exhibitor: Media Partners: "Great event, a must for all of the competitors of fluorspar" Alvaro Soto, Legal Manager, Mexichem Fluor