There have been discussions over time about whether CSR can generate economic benefits for mining companies. However, it should not be lost sight of the fact that CSR should also be driven by a number of considerations, such as the moral obligation to respect human rights, the welfare of society, and the protection of a company's economic activities. Studies conducted by research centres in Europe examined the relationship between CSR performance and the economic growth of European mining companies and analysed data from different medium-sized and large mining companies between 2018 and 2021. The findings of these papers confirm that Corporate Social Responsibility positively affects the economic growth of companies, including their profitability and enterprise value. In addition, CSR indicators affecting each economic indicator were identified, with training, health, safety, and community development having the greatest impact.
The mining sector is one of the most controversial industries in the sense that, at the same time as it is beneficial to society, it can be a threat to it. The mining industry is linked to a countries economy and natural resource activities. We cannot deny that to a large extent a country's economy is associated with its extractive industries. Corporate Social Responsibility initiatives can encompass a wide range of activities, including environmental sustainability, community development, ethical labour practices, safe working conditions, philanthropy and transparency in business operations. Social responsibility in mining in Latin America is a complex and challenging issue, encompassing many aspects, but I am convinced that the concept of responsible mining is something the industry wants and needs. Learn more: https://lnkd.in/eitixxqP #mining #safety #undergroundmining #BecauseItWorks
