Stakeholder Engagement - Who Are You, What Do You Stand for and Why?

摘要

With an ever-increasing dynamic business environment, successful stakeholder engagement is becoming more fundamental to achieving desired outcomes in today's mineral resource industries.It is imperative to be proactive in correctly identifying all stakeholders and initiating early contact. This builds trust relationships, which are essential to ensure future decisionmaking processes are streamlined.Often neglected is a company's obligation to select the correct team to represent its values and mission. The company requires representation that demonstrates an understanding and commitment to its operations and people, the safety and health of tlie community and environment, and most importantly, represents the decision makers. Stakeholders need to believe that the engagement process is genuine and that the company representatives are aligned towards targeted outcomes that will benefit all stakeholders in some way.Among others, stakeholders include shareholders, staff, families, community, service and supply providers, regulators, land managers and the political/ financial framework. Depending upon the mineral product, stakeholders may include ports, international offtake clients and those along the route. New stakeholders continually evolve during mine life, and the engagement process requires an investor-community-public relations (IR/CR/ PR) team to anticipate change and actively scan perception and chatter.Successful communication is more than delivering a message; it is about engaging stakeholders and confirming the feedback loop to ensure the correct message is communicated and tlie relationship is strengthened.The nature of the mining company's branding and the public's perception of company intentions will dictate whether there is willingness to allow the company to follow its desired path. This in turn controls the company's most scarce resource - time. Timing is fundamental to achieving targeted outcomes with minimal cost and delays, marketing in a peak cycle and acquiring critical capital for development and growth. Branding and stakeholder engagement effectively controls and extends to the company its social licence to operate.