Lundin Gold Publishes Inaugural 2015-2016 Sustainability Report

Congratulations to Lundin Gold, a pre-production gold mining company pursuing the high grade, underground Fruta del Norte (FDN) project in Ecuador, for publishing its first sustainability report: Building the Future through Responsible Mining, and three reasons I enjoyed contributing to it.

The history of Lundin Gold is linked to the acquisition of FDN from Kinross Gold. Since early 2015, Lundin Gold has been moving FDN forward, completing a feasibility study, impact assessments, reaching key agreements with the Government of Ecuador and – towards the end of May 2017 – securing a financing package of $400 - $450 million from Orion and Blackstone.

Lundin Gold’s sustainability report, which was prepared in accordance with the new GRI Standards (core level), highlights thoughtful partnerships and inspired impact investments aimed at enabling local employment and procurement, and improving local livelihoods in a region of Ecuador marked by over 60 percent poverty. The company’s efforts rival those of previous winners of PDAC Awards in the Environmental and Social Responsibility category – and that at a very early stage of the company’s life cycle.

On a personal note, it was fun to work with Lundin Gold’s team and help develop this sustainability report for three reasons:

First, it provided an opportunity to visit FDN, engage with motivated company staff, observe a roundtable dialogue session in action, and learn about the company’s impact investments first-hand.

Second, I was encouraged to work with Lundin Gold, given its positioning within a group of early adopters of the new GRI Standards. After all, Prizma, my advisory practice, is a GRI Gold Community Member and GRI Standards Pioneer. It was also fun to explore the application of the United Nations Sustainable Development Goals (UN SDGs).

Thirdly, I enjoyed re-visiting the country some 25 years after a memorable backpacking trip which took me also to Ecuador and the Galapagos Islands while I was studying geosciences as a German Fulbright Commission grantee and exchange student from J.W. Goethe University in Frankfurt at the University of Wisconsin-Milwaukee.

What are your thoughts on Lundin Gold’s inaugural sustainability report? What recommendations would you make to improve Lundin Gold’s sustainability performance and its reporting?

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