Mining Magazine has published its data on the volume of social investments in the global mining sector in 2023.
The inaugural ESG Mining Company Index covers more than 7000 data points, evaluates 61 of the world's largest mining companies through nine weighted indicators across six critical pillars: Carbon emissions, Water, Land disturbance, Safety, Diversity and Social investment.
In terms of social investments, Norilsk Nickel was recognized as one of the world’s leading mining companies. The Russian metal producer has become the undisputed leader in the copper equivalent spending on social contributions - the ratio of spending per ton of mined ore in copper equivalent.
According to Mining Magazine, Nornickel spent $344 per ton of copper equivalent on social investment. For comparison, runner-up Northam Platinum allocated only $130 per ton of copper equivalent for social initiatives, which is 2.6 times less than that of Nornickel.
The Russian giant is also among the world's top in terms of social contributions per unit of output. The company's total social investments amounted to $513 million.
At the same time, as noted by Mining Magazine, in 2023, out of 50 assessed companies, the total investment in local communities amounted to $2.7 billion, an average of approximately $51 million per company.
Theodor Lisovoy, Managing Editor, Rough&Polished
