Sustainability matters at PanAust
The Company's Vision and Values, and Sustainability Policy clearly outline the Company’s commitment to preserving and enhancing the environmental, social, technical and financial elements of the business. Fourteen Sustainability Management Standards relating to leadership, risk management, health and safety, training, environment, stakeholder engagement and community have been developed by PanAust to ensure consistent sustainability-related outcomes across the business.
Sustainability forms part of the Executive Management Team’s five-year plan and their critical tasks. The General Manager Human Resources and Risk Management facilitates annual Risk and Sustainability Workshops with key management, and operational and sustainability support staff from across the PanAust Group to drive company-wide alignment with PanAust’s approach to sustainability.
PanAust measures its sustainability performance against international standards and commissions independent audits based on the Equator Principles and the International Finance Corporation's Policy on Social and Environmental Sustainability. PanAust uses an Enterprise Risk Management process to identify all key material risks and audits and/or reviews against those risks are carried out regularly. Through this process gaps are identified and risk management plans are developed and implemented.
PanAust is an associate member of the Minerals Council of Australia (MCA) and a signatory to its ‘Enduring Value – The Australian Minerals Industry Framework for Sustainable Development’. The Enduring Value framework commits companies to upholding fundamental human rights and respecting the cultures, customs and values of people affected by their activities.
PanAust aligns with the International Council on Mining and Metals policy on climate change.
PanAust is a signatory to the International Cyanide Management Code which promotes the responsible use of cyanide in gold mining. The Ban Houayxai gold-silver process plant was designed and built from the ground up to be compliant with the Code.
PanAust regularly presents at international forums on its leading practice management of acid generating material (acid rock drainage [ARD]). Each year, PanAust reports in accordance with the Global Reporting Initiative (GRI) Sustainability Guidelines (Annual Publications).
The Company's operational activities in Laos are conducted in accordance with the Mineral Exploration and Production Agreement (MEPA) which is subject to the laws of the Lao People's Democratic Republic and outlines PanAust's obligations across a range of issues including the regulation of exploration, and the development and undertaking of mining activities within the Contract Area. The MEPA also sets out tax and royalty obligations, and requirements associated with the employment and training of Lao nationals, environmental management, and local business development.
PanAust is proud of its risk and sustainability performance for a company of its size. It has been recognised for sustainability and reporting performance at a number of international awards since commencment of production. A full list and description of awards and other external recognition can be viewed here.