In every mining company, there is often a plethora of systems, often spreadsheets, that hold information of critical value to the corporate entity that are not aggregated or well governed.
Added to this, the increasing transparency and speed of information flow create further weaknesses where decisions, or a lack of action at the region or operation can have dramatic negative effects on a company’s corporate reputation and potential future access to capital.
Modernising the reporting, governance and compliance will require mining companies to invest in modern technology solutions that increase the connectivity between data, knowledge and decision makers right across their operations. This will create confidence in the governance of the processes and accountabilities.
There is also industry pressure to speed up this process. The release of the GTS (Global Tailings Standard) sets a new benchmark for multi-stakeholder collaboration and drive to improve industry performance on tailings, as well as sending a strong signal to the mining industry that ESG performance needs to improve.
Resource Inventory reporting software
A large number of K2fly’s Resource Inventory Reporting clients have drawn a direct link between Resource Governance and Tailings Governance. With the broader importance of ESG, this is a positive step forward in how these issues need to be framed, considered and responded to.
Tailings is a crucial part of this governance landscape. Typically, many tailings experts are external to the mining company so they typically have limited ability to “reach” into their client’s document management systems in the lead up to a formal review.
We’re excited to be working with Decipher to develop a truly customer-focused solution that is designed to answer their specific needs and ensure improved compliance of tailings storage facilities (TSFs) and facilitate enhanced safety, environment and community outcomes.
Our new integrated governance dam and tailings software solution will help mining companies ensure TSFs are designed, constructed, monitored, managed, and overseen to the Global Tailings Standard (GTS)
K2fly’s solution will provide
• Management and governance around key stakeholders in the Tailings Facility lifecycle
• Workflows and audit tracking for transparency in reporting
• Capturing/sourcing and searching documentation
• Controlling the functioning of the Independent Tailings Review Board
Now is the time for other governance structures, codes and systems that support mining ESG initiatives to be put in place in a consistent way to prevent further disasters.