MJ COMMENT

Investing in Women: Why prioritising diversity and inclusion in the mining industry is mission critical

Stacy Hope, MD of WIM UK, presents a call to action for the mining industry on diversity & inclusion

Stacy Hope, MD of Women in Mining UK
Stacy Hope, MD of Women in Mining UK writes for Mining Journal on IWD 2024

Stacy Hope, MD of Women in Mining UK writes for Mining Journal on IWD 2024

The theme of this year's International Women's Day is ‘Invest in Women: Accelerate progress' - a theme that has been, and continues to be disparate in the mining industry, with a paltry number of women in top executive roles and an even smaller number of women-owned mining companies. In simple terms, the mining  industry needs to do more, and it needs to do more fast. 

The percentage of women working in the Mining Industry varies greatly. According to a report by McKinsey  it is between 7-18% of the total workforce. It gets even worse when you look at the C-suite level, with women only accounting for 13% of company executives. In this same report, it worryingly highlights that even when companies hire female talent, they are then struggling to retain them. 

Additionally, widely publicised reports from Rio Tinto  and Gold Fields  have shown the frequency of instances of bullying, sexual harassment, and racism faced by their employees. While these companies should be applauded for their transparency in disclosing these findings, it demonstrates just how prevalent harmful behaviours are in the industry. 

So why does this matter? On a basic level, no one should go to work and face the threat of bullying, harassment, or intimidating behaviour. It is that plain and simple. 

In addition to this, diverse teams have been proven to generate better business outcomes. In 2023, WIM UK worked with Arch Emerging Markets, and law firm White and Case to produce a research paper which found that diversity brings different experiences, perspectives, and skills to the table, resulting in more effective decision-making, better risk management and improved overall performance. 

Mining is also facing a talent and hiring crisis. We are seeing fewer students entering into traditional technical mining degrees. A report by McKinsey published last year found that found 70% of its 15- to 30-year-old respondents said that they "definitely wouldn't" or "probably wouldn't" consider working in the mining industry, ranking the sector as the least popular career choice for all those surveyed - behind oil and gas . Nature, climate change, displacement, and growing crises, are shaping the ways in which the future of talent is responding to the job market, and mining as a viable solution to these issues has not properly been conveyed.  

Added to this, the gendered issues that industries such as mining face, particularly in terms of creating a safe, just, and fair industry, bodes well for no one. This becomes even more urgent when we consider the vital role mining will play in producing the metals needed for the energy transition. More mining means more people. It is an obvious progression that to make mining fit for purpose, we must make it fit for the people being impacted by it. This includes the wider communities in which mining operates of which women play a big part.

While progress has been slow, companies are beginning to address how best to recruit and retain women. This includes:

  • Robust sponsorship, mentorship (and not in the conventional sense of mentorship but a dialectic mentorship in which both parties are learning from each other) and training programmes. This ensures women are empowered to progress in their careers and that they are given the necessary support and guidance to do so. 
  • Redefining ways of working that are fit for a diverse workforce, which includes flexible and hybrid ways of working for those with families and creating safe spaces to air grievances without fear of reprisals.  
  • Having a clear purpose, especially relating to a company's environmental, social and governance policy. 
  • Building a psychologically safe working culture from the top down. In some cases this will mean a full cultural transformation which puts inclusion at its heart.  

However, this can all be stymied if the business itself does not make the issue of diversity, equity, and inclusion a fundamental rubric to its modus operandi—to its culture and epistemic framework. In simple terms, DEI makes business sense, but it must make sense to those leading the charge and defining the culture of the companies.

It is not all doom and gloom! There are lots of examples of companies making strong, individual commitments on DEI. For example, Newmont has made a commitment to achieving gender parity in leadership roles by 2030 by issuing bond ties linked to achieving these commitments. Vale has committed to doubling the number of women in their global workforce by 2025 At Freeport-McMoRan, women represent 42% of their board and they have recently appointed Kathleen L. Quirk as their new CEO.

In 2023, ICMM members, who are some of the biggest mining companies in the world, made a collective commitment to work together to improve the experiences of workers, and to eradicate discrimination, harassment, and assault in all its forms from workplaces. We must ask ourselves; how can we incentivise and empower other mining companies that are not part of this cohort to not only make such commitments, but to invest in seeing them through?

While these commitments demonstrate that this is an issue the industry is taking seriously, we need to start seeing tangible performance improvement. I am therefore calling on companies to look carefully at their businesses and identify one commitment on diversity and inclusion you can make today. 

Seek advice from the ecosystem within which you operate. This includes all staff, the wider communities with which you engage, local Women in Mining organisations, and experts to define how to address the issue and meet your commitment. 

Set a timeframe, and transparently disclose the challenges as well as the successes. This should be a commitment made by the board and ExCo, as well as across the business. 

An important part of encouraging greater diversity in the mining industry is by celebrating the trailblazing women who are already leading the way. To do this, WIM UK has launched the nomination process for their sixth edition of their "100 Global Inspirational Women in Mining" ("WIM100)". If you know of a woman who is driving change and making a significant impact on the industry, please nominate them here

 

 

 

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