ROYAL ROAD MINERALS SOCIAL POLICY
The company is committed to follow the Equator Principles and the International Finance Corporation (IFC) performance standards, the following policy statements are without prejudice to these principles and standards.
Royal Road’s Commitment to Sustainable Development
- Royal Road Minerals Limited believes that progress today should not compromise the future of the next generation.
- We have a strong social conscience and are committed to continuously raising the level of environmental, health and safety performance in all stages of project development and operation.
- To do so, we adhere to world-class environmental and social standards: the International Finance Corporation’s Performance Standards to meet the requirements of the Equator Principles, the Global Reporting Initiative, OECD Guidance, the United Nations Guiding Principles on Business and Human Rights and the Voluntary Principles on Security and Human Rights.
- These globally recognized frameworks guide us in comprehensively managing the risks and impacts associated with our operations and in building strong relationships with our regulators and local communities.
- All our consultants and contractors should comply with these standards.
Our Social Policy: a commitment to partnership
Building sustainable relationships which are based on mutual respect and understanding, developing active partnerships and making long-term commitments with surrounding communities and other stakeholders is a top corporate priority.
Across our operations, from planning to closure, we will be a responsible, conscientious neighbour: our goal is to understand the priorities, challenges and concerns of communities surrounding us in order to develop projects that are truly inclusive and promote social integration.
Our Social Management Program will minimise and mitigate any adverse social impacts generated by our activities and, where possible, to enhance those that are beneficial. In line with internationally recognised best practice, we commit to deliver on this program with full transparency, community engagement and under a continuous improvement approach.
Our Grievance (“complaints”) Mechanism is a key communication tool to materialise this commitment.
Our social management framework
Our policies are underpinned by our recognition of two key social principles:
- That the protection of human rights and cultural heritage build stronger communities.
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We will understand these relationships and differing circumstances, and how they may benefit or be affected by our activities. We also commit to develop specific engagement strategies that fit each context in order to create fully transparent, collaborative and mutually beneficial agreements to deliver sustainable benefits to those surrounding us.
Contributing to building strong communities
We are responsible for sharing and maximizing the benefits generated by our core business, one that is based on mineral resources that are limited by nature. Our contribution to building stronger, sustainable communities is channelled through community-based initiatives that are inclusive and make a difference without creating dependency.
Partnerships are essential to managing any social risks and impacts. We will actively engage with regulators and local communities to plan ahead and devise ways in which our investments and activities can boost local and regional development opportunities. We always make a clear difference between mandatory and voluntary social management actions.
Respecting human rights
Royal Road has robust processes to manage risks and strongly supports the protection of human rights. To do so, we follow the United Nations Guiding Principles on Business and Human Rights and the Voluntary Principles on Security and Human Rights. The OECD Guidelines for Multinational Enterprises (MNEs) and the OECD Due Diligence guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas are also part of our guidance on this matter.
Our strong commitment to the environment addresses key human rights aspects such as the conservation and sustainable management of water, soil and biodiversity resources that are essential to the wellbeing and livelihoods of local communities.
Protecting cultural heritage
Royal road will engage in consultations with specialists and communities to understand and identify potential risks and impacts and protect cultural values, practices, sites and objects.
Our activities are respectful of diversity, lifestyles and heritage of local communities across all stages of operation. In addition, subject to appropriate consent, we promote the collection, analysis and dissemination of cultural heritage information and knowledge.