Value Creation From SD Indicators - For Mining Companies, Communities And Policy-Makers

This is the 3rd Paper in a series by this author, the first two being published at the two previous International Conferences. Since the Aachen Conference, Rio Tinto has carried out an extensive benchmarking exercise to see how we are positioned with respect to other leading companies (in our sector and other sectors of major economic importance). We need to be sure that Rio Tinto is at the forefront of best practises in Sustainable Development (SD) and is using the most effective tools and methods. This paper will present key findings from this work. Rio Tinto Minerals, working as representatives of IMA-Europe was a leading contributor to the European Commission DG Enterprise Voluntary Reporting Scheme for SD Indicators in the Non-Energy Extractive Industry. In Rio Tinto Minerals we have been using these SDIs in the management of our business and the paper will report on how they contribute to the management of our business and the paper will report on how they contribute to business value in: deepening customer relationships, eco-efficiency of operations, land use planning and permitting for new and expanding facilities, community relations, policy engagement with government authorities and strengthening the bond between the company and employees. We continue to support the Voluntary SDI Reporting Scheme, considering it to be important in the expanding EU and as a model for other regions globally. For example we have ore suppliers in developing countries and we use these SDIs in assisting them to better their performance, for we have an obligation to use our influence for continuous improvement. The paper will describe this work. Over the last 12 months our company has created a new Industrial Minerals unit called Rio Tinto Minerals which brings together all the borates, talc and salt operations, R&D, marketing, sales and customer care worldwide. The paper will present also the new Sustainability Policy of Rio Tinto Minerals.