Sustainability Report 2017
Growing a sustainable legacy
Sustainability, in its most literal form, is the ability to continue into the future and that is something at the forefront of everything Randgold does. Whether building a safe working environment for our workers every day, investing in the development of national assets, local economies and thriving local communities around our mines, or investing in the natural environment and economic legacy that will support our host communities for the decades after our mines close. Both now and in the future, the prime mission of our business is to create long term shared value for all our stakeholders.
The business case study for sustainability
At Randgold we have always seen sustainability as a core business issue. That is because the dedication to efficiency, innovation and reliability required to manage environmental and social issues are the same values that are required across every part of our business.
Successful sustainability management is just good business. This year for example, our investment in our anti-malaria programme has led to a fifth consecutive year-on-year drop in malaria incidence for our local communities, but also helped reduce workforce absenteeism caused by malaria by 16%. Our achievement in meeting over a third of our energy needs with clean, renewable sources, and recycling almost three-quarters of our water also brings significant cost savings that help us deliver more value to our host countries, host communities, employees, suppliers and investors. Of course our efforts on sustainability also face substantial challenges, especially in the context of emerging Africa where our mines are based. The presence of HIV/AIDS and of illegal artisanal miners neighbouring our sites both remain challenging areas.
This year our most serious priority, despite a 30% reduction in the total injury frequency rate across the group, has been to learn the lessons from a tragic truck collision that resulted in the death of two of our contractor’s employees. In this year’s sustainability report, we detail the remedial measures taken to ensure such an incident does not reoccur, and it is a hard reminder of the importance of creating and nurturing sustainability in every part of our business every day.
Partnerships for the future
Over the years, we have forged mutually beneficial partnerships with all stakeholders who share our long term commitment to sustainable economic development. It is these partnerships that have enabled us to create over 20 000 jobs, contribute more than $2.5 billion to host country governments in taxes, royalties and dividends and to support host communities to develop the schools, houses, health clinics, water and agribusiness infrastructure they require. We will continue to monitor our contributions to the development of our host countries and communities and are increasingly looking to the UN’s Sustainable Development Goals (SDGs) as a framework to manage these contributions.
This year a new €1 million cooperation agreement with the German Development Finance Institute (GIZ) to support the agricultural training college at Loulo-Gounkoto has been especially encouraging, and we hope it is the start of a long term partnership.
We can look back with some satisfaction on such achievements but must also work every day to nurture all our relationships and ensure we continue to deliver sustainable benefits to all stakeholders with the long term future in mind.