Anti-corruption guide for junior mining companies

“Bribery and corruption compromise the discovery outcome which is the prime reason investors invest in junior exploration companies. As an investor, I stay away from companies that act like cowboys in a casino with no rules. These days there’s no excuse for a cavalier attitude to bribery and corruption. We know the risks in exploration are very high, and to compound these with the risks set in motion by paying bribes and acting corruptly, is a double down. Good luck if you don’t think the consequences apply to you.”

Peter Williams

Director, Elemental Royalties

“Australian anti-corruption laws apply to Australian businesses in any country, so adopting (corrupt) local standards may seem expedient in the short term, but it leaves a company vulnerable to prosecution in an Australian court, and at the mercy of any competitor or part of a supply chain wishing to report to authorities.”

David Tonkin

Chief Counsel, Legal, Procurement & Fraud, Australian Trade & Investment Commission (Austrade)

“BHP is committed to upholding the highest standards of ethical conduct and expects the same from all of our partners, investments and contractors. Bribery in licensing and permitting has serious consequences including depriving host communities of legitimate benefits from the development of their resources and cancellation of licences to explore, develop and extract resources.

 

BHP supports the use of the Anti-bribery & Corruption Guide for Junior Mining Companies and other resources available on the Bribery Prevention Network and is always open to working with other industry participants on the global fight against corruption.”

Tim Robinson

Chief Compliance Officer, BHP

“Australian mining and exploration companies which ignore ethical practices in foreign jurisdictions do so at their own peril and put their shareholders’ investments at jeopardy. Not only is participation in corrupt practices generally illegal it is ultimately counter-productive since it demonstrates to authorities that you and your company can be manipulated, are corrupt and not to be trusted. Corruption puts your company’s key assets – its tenements (rights) – at risk of cancellation and forfeiture.”

Adrian Larking

Councillor (2003-2017) and life member, Association of Mining & Exploration Companies, Australia (AMEC)

“Corruption increases the cost of doing business, and simultaneously raises uncertainty over expected returns for investors. This is why a growing number of investors are looking into companies’ anti-bribery and corruption systems. They are also using anti-bribery and corruption engagement as a litmus test for the overall quality of companies’ business practices and management.”

United Nations Global Compact and Principles for Responsible Investment

“Companies that view foreign bribery as simply the cost of doing business overseas are creating an uneven playing field which unfairly penalises businesses who do the right thing and play by the rules.”

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Australian Attorney-General and Minister for Industrial Relations