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Newmont shines in Alva ESG rankings

Newmont shines in Alva ESG rankings
Mining News Pro - Newmont has topped the ranks in Alva’s third quarter environment, social and corporate governance (ESG) report, after reaching a water availability agreement with a local Mexican community.
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The London-based media monitoring company, Alva, assigns ESG scores to companies based on publicly available content from social media to NGO research to assess the companies’ non-financial performance.

Newmont topped the 20-company list for mining with an ESG score of 19 after the gold miner formed an arrangement with the San Juan de Cedros community, where Newmont’s Peñasquito silver mine is based.

The most positive issues for the mining sector were identified by the report as energy management and greenhouse-gas emissions. The report also indicated that ESG perceptions of mining had deteriorated slightly from the last quarter, with the most negativity coming from community relations and human rights.

Energy management topped the list for the issue categories, with Newcrest, which scored 14 points and ranked second in the company ranking, having joined the Coalition for Energy Efficient Comminution to boost energy efficiency across its projects.

Third-placed Trafigura, with 13 points, also contributed to energy management’s top ranking with its plans to develop solar, wind and power storage projects over the coming years.

Trafigura was a consistent performer, with carbon levy on marine fuels to meet decarbonisation targets helping greenhouse gas emissions climb to second on the overall category ranking.

The top five was rounded out by Gold Fields and AngloGold Ashanti, both scoring 12.

Health and safety ranked third, air quality in fourth and biodiversity impacts rounded out the top five in the ESG issue categories.

Community relations slid to the bottom of the category rankings, with Rio Tinto’s destruction of Juukan Gorge in the Pilbara, Western Australia taking up the majority share of the impact for the entire third quarter.

The freezing of Brazilian miner Vale’s assets in Minas Gerais state to cover damages from the Brumadinho tailings dam failure also contributed to the fall in ranking for community relations.

Rio Tinto slid to the 20th and final spot on the list with a score of minus 79, with the Juukan Gorge incident also being noted in the human rights category ranking of 10th out of 11.

Fellow mining giant BHP came in 16th place with minus 23 points, well below the sector average of minus six.

BHP was commended for its plans to cut global emissions by 30 per cent by 2030, which came under greenhouse gas emissions’ second place category ranking.

“The mining sector average falls this quarter, hovering around the neutral point, with a score of minus six,” Alva stated.

“Nine out of eleven material issue areas scored negatively in the third quarter (health and safety, air quality, biodiversity impacts, water management, business ethics, labour relations, waste and hazardous materials, human rights and community relations).

“Companies across the sector are investing in energy management, helping this issue become one of the only positive material issues during the quarter.”


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