AMN - Mining companies lead way in being most transparent - comment by Yolanda Torrisi

While mining companies attract worldwide attention for their operational and social endeavours in their countries of operation, one thing that is rarely reported about them is how transparent they are in their workings and dealings.

A report released by Corruption Watch titled ‘Transparency in Corporate Reporting’ has revealed that South Africa’s most transparent companies come from the mining sector, with Gold Fields, BHP Billiton and Anglo American Platinum coming out tops.

The three scored 9.6, 9.4 and 8.8 respectively, on a scale of 0 to 10, where 0 is least transparent and 10 is most transparent.

The South Africa Chamber of Mines welcomed Corruption Watch’s report and supported the statement made by Corruption Watch: “Just as the public demand that the public sector be accountable, so too are they entitled to expect this from the private sector. After all it is the public who invest and work in these companies, and who consume their products.

“Corruption has a significant impact on economies and severely hampers growth prospects and the economic prosperity of the population both present and future.”

The South Africa Chamber of Mines stands firm against corruption and recently was reported in media saying: “We commit ourselves neither to offer nor to accept bribes or any other unethical inducements, both within the private sector or to or from public officials and public institutions. We commit ourselves to fully abiding with legislative and regulatory requirements.

“We believe that business has a duty to conduct itself ethically, with integrity and in good faith in regard to customers, competitors, suppliers, government and regulatory authorities and to its own employees.” Our commitment, and that of our members, remains unchanged.”

Yolanda Torrisi is Chairperson of The African Mining Network and comments on African mining issues and the growing global interest in the African continent. Contact:yolanda@yolandatorrisi.com