According to Mining Weekly (June 2023), various countries in Latin America and Africa have introduced regulations that require mining companies to consult and involve local communities before and during the execution of projects. This “prior consultation” model aims to prevent social conflicts and costly delays while ensuring that the economic benefits of mining are distributed more equitably.
For investors, proper management of community relations translates into greater stability and a significant reduction in operational risks. Projects that incorporate shared-value strategies—such as building schools, clinics, or roads that benefit local populations—are more likely to receive approval from authorities.
This participatory approach also improves the company’s image in the market and with regulatory bodies, demonstrating a genuine commitment to sustainable development and social responsibility. In a global context where public scrutiny of mining is increasing, a robust community engagement policy can make a difference in a project’s competitiveness and profitability.
Source:
• Mining Weekly, “Community Engagement Now Central to Mining Project Approvals,” June 2023
