By David McKayin brief in the news
10 finweek 19 March 2020 http://www.fin24.com/finweekMINING
Women in mines key to drive earnings
a
dmittedly there are some things
women can’t do as well as their
male counterparts in the mining
industry, such as handling
heavy machinery, for instance.
Then again, women are better than
men at arriving at work on time; and
they don’t break the large articulated
trucks they operate either, unlike men.
That’s according to Deshnee Naidoo,
CEO of Vedanta Zinc International and
a Minerals Council South Africa board
member who’s driving the organisation’s
White Paper aimed at advancing the role
of women in the industry.
There’s a raft of information that shows
involving women in the mining business is
not just the mark of a just, modern society,
but a good business strategy.
Fortune 500 companies with at least
three female directors have a return on
equity in excess of 53%, while diverse
companies in general deliver 19% more
revenue from innovation, according to
the Pearson Institute. Closing the gender
gap in economic participation by a mere
25% by 2020 could increase global GDP
by $5.3tr.
“We need a firm intervention to step
up female representation in the industry,”
said Naidoo ahead of the launch of the
White Paper, which was on 8 March,
International Women’s Day. “If we don’t
put it on the agenda of the CEO, it
doesn’t happen.”
Currently, there are about 54 000
women working in SA’s mining sector,
the equivalent of 13% of the sector’s total
workforce – a clear under-representation
given that there are slightly more women
than men in SA. But the aim of the White
Paper extends beyond numbers.
Numbers are largely what the recently
redrafted Mining Charter is all about. It
already asks that 5% of mining goods
procured by the sector are produced by
companies owned and controlled by
women, or youths.
“We want to give that impetus and
drive,” said Naidoo. “The Mining Charter
is not getting us to the desired end-state,which is to stop at nothing less than
50% representation. We also need to
shift beyond compliance. And we need to
provide equal opportunities.”
In tackling the scourge of a poor
mine safety culture, mining companies
want employees to drive safely to work,
operate safely in their homes and lives,
since the feeling was that habits aren’t
miraculously dropped at the mine gate.
Similarly, the council’s White Paper is
seeking broad cultural change in how
women are regarded and treated.
SA has one of the highest rates of
gender-based violence in the world. A
woman is murdered every three hours
and there are 84 cases of rape a day.
“These are statistics about which every
man in SA should be ashamed,” said
Roger Baxter, CEO of the council.
Several strategic points have been
identified by the council, which has
assembled a task team of 12 members,
mostly women (Naidoo said more men
should be on it), with the aim of making
this a serious point of adoption in the
industry at the highest level.
There are some encouraging trends
underway. Anglo American and Rio Tinto
have staff complements consisting of
20% and 18% women respectively, but the
White Paper also wants improved working
conditions underground, including access
to ablutions, for example.
Another trend is the fact that SA’s
mining sector is becoming increasingly
digitalised and mechanised. According to
the Minerals Council, about 30% of SA’s
mining output will be from modernised
mines by 2025. “We see modernisation
as a driver that will help us level the
playing field,” said Naidoo.
The department of minerals and
energy is supportive of the initiative. Its
cooperation will be a key aspect if the
council is to be successful, one feels.
“We have had preliminary discussions
with the minister (Gwede Mantashe),”
said Baxter. “The department has been
invited to be part of the task team.” ■
[email protected]Roger Baxter
CEO of the Minerals Council
South AfricaDeshnee Naidoo
CEO of Vedanta Zinc
InternationalSA’s resource companies are determined to increase the number of women working for and supplying them.
It’s not only an important societal issue – it makes good business sense.Pho
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There’s a raft of
information that shows
involving women in the
mining business is not
just the mark of a just,
modern society, but a
good business strategy.