Indigenous Rights Risk Report

In 2014, Ernst and Young elevated the social license to operate to the third place on its list of the greatest business risks to the mining industry, citing that "the frequency and number of projects being delayed or stopped due to community and environmental activists continues to rise." Research conducted by the Corporate Social Responsibility Initiative at Harvard Kennedy School and the Centre for Social Responsibility in Mining at the University of Queensland revealed that "most extractive companies do not currently identify, understand and aggregate the full range of costs of conflict with local communities.? 2 Additionally, a report by the McKinsey Global Institute expressed the need for ?a new approach to the changing resource landscape...as exploration and production increasingly shift to developing countries and frontier markets, companies that can reframe their mission from simple extraction to ongoing partnership with host governments in economic development are likely to secure a real competitive advantage.