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New reporting guidance: Advancing local procurement through improved disclo...

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The Strathcona Hotel - Wellington Room

60 York St.

Toronto, Ontario M5J 1S8

Canada

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Join us! Learn about the Mining Local Procurement Reporting Mechanism (Mining LPRM) and how it can support improved mining local procurement

Speakers

  • Steering Committee member for the Mining LRPM: Gosia Nowakowska-Miller, Local Supplier Development and Community Investment Specialist at International Finance Corporation (IFC)

  • Co-author Mining LPRM: Jeff Geipel, Managing Director, Mining Shared Value, Engineers Without Borders Canada

About

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 Local Procurement Reporting Mechanism (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.

Advised by a steering committee which included representatives from ICMM, World Bank, and IFC, the development of the disclosures included extensive consultation with industry actors in Canada and globally, as well as field test in Albania, Mongolia, and Mali to ensure each was practical for mine site reporting, and that the information created will empower host country stakeholders.

Download at: www.commdev.org/mining-local-procurement-reporting-mechanism/

Date and Time

Location

The Strathcona Hotel - Wellington Room

60 York St.

Toronto, Ontario M5J 1S8

Canada

View Map

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