PDAC 2023 Sustainability Award | The Lundin Foundation

foreign Foundation believes there's more to be discovered than precious minerals and metals there's human potential together the group of publicly traded companies that make up the Lundin group focus on supporting the community around the operations and ensuring the London mining companies continue to uphold their environmental social governance practices and sustainability efforts our role is really to look for long-term strategic opportunities and looking at how can we use the revenue coming into the region from a lending operation to really be a catalyst for economic development in communities lundeen Foundation operates differently through resource development they ensure real lasting and sustainable Community impact this work is done by focusing on four key areas the first is education and skills training and we really look for opportunities to meet Regional Workforce needs and also the needs of the lending mining company so we develop and deliver training programs that really equip community members for those long-term jobs the second key area is local supplier development and we know with so much revenue coming into a region with a mining project there's a real opportunity for local companies local small business to become part of the mining supply chain the third area is economic diversification we don't want to create a sense of dependencies in communities and we really want to look for other opportunities to drive meaningful change the fourth area is environmental Innovation and this is really looking at tapping into the Ingenuity that exists in all communities to solve their own environmental challenges enter Partners go through a program they develop a business idea or develop a new innovation and then we help them over a number of years to try to take that Innovation to Market at times this work can begin well in advance in Ecuador a career development plan was set in motion to provide community members with the training and skills to become process plant and Mining operators three years before building frutida Norte mine we recognize that community members did not have basic high school education and we knew that was the bare minimum for the long-term jobs so we embarked on a high school education program an accelerated flexible program and were able to train 320 community members that had no experience in mining 85 percent of the of the trainees went on to have jobs with lending gold and really you know transformational opportunities in a developing country with a startup especially the climate startups they really are trying to access funding and part of our role is to equip them to access financing and to be able to pitch to investors and get that financing so of the 79 climate startups that we supported in 2021 those climate startups were able to access over 30 million U.S in third party funding in 2021 we supported 650 small businesses those businesses supported over 2 000 jobs and those are really well-paying jobs in in communities where there aren't many opportunities those 650 small businesses went on to generate 44 million dollars in revenue and that's money that's reinvested back into households to really improve the the standard and quality of life the lundeen foundation can be found around the globe investing in local communities and the greatest resource of all people the pdac 2023 sustainability award goes to the lundeen foundation for creating an organization funded by mining Revenue with the sole purpose of providing lasting benefits for communities surrounding London group companies operations

Channel: PDAC

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Length: 4min 12sec (252 seconds)

Published: Fri Mar 17 2023