Social investment: A win-win for all stakeholders

Let’s face it: Mining is a business and at the end of the day, a business needs to be profitable. However, when you mine with purpose and not just for profit, you create a win-win situation for all stakeholders, including mining communities.

That is why ASX-listed Marvel Gold has my attention this week.

The company is focused on advancing a number of gold projects in Mali, one of which is Tabakorole located in the south of the country. While exploration continues, Marvel Gold has also been actively engaging with the communities surrounding the product.

As a result, the first community initiative has been completed and commissioned. The company has installed a solar powered water pump and elevated water tank storage for the village of Tabakorole, the nearest village to the project area with a population of approximately 800 people.

This is significant for the local people as it provides water on demand and saves considerable time and effort in not having to draw water from the bore by hand as well as providing a small water reserve.

Commenting on the community development initiative, Marvel Gold’s MD Phil Hoskins stated, “We recognise that maintaining a social licence to operate is a fundamental requirement for success in Mali. We aim to ensure that our work benefits the local communities and other key stakeholders including local business, governments, employees and contractors.

“Working in partnership with the communities in which we operate to identify areas of need, enables us to undertake community related investment that has the capacity to deliver lasting benefits.”

The implementation of specific community development initiatives, such as the upgrade of the water-well, follows a process of community consultation to understand the priorities of local communities and also allows Marvel Gold the opportunity to discuss its current and proposed exploration activities.

It is therefore commendable that Marvel is committed to being a valuable part of the local community and is working closely with its neighbours to make a positive contribution to their lives.

Furthermore, by actively engaging with local communities and seeking to provide support for local cultural, health and education initiatives and programmes, it is ultimately helping to increase community self-reliance. This is a good example of putting purpose before profit in mining.