What are the key challenges for sustainable development of the mining projects in Central and Eastern Europe? Is there are future for mining in Europe’s future Circular Economy? What companies and Government should do to improve investor confidence and obtain Social Licence to Operate? These and many other questions were addressed to the delegates attending on 12-13 June 2018 the 3rd MINEX Europe 2018 Mining & Exploration Forum.
1. Environmental Responsibility makes a mine sustainable (according to 44% of the respondents).
2. Effects on water supply and pollution are the main objective of opening new mines (believe 52% of respondents).
1. Approvals for Permitting presents the greatest challenge for developing Greenfields Projects in the Balkan region (63% of respondents)
2. Design, Engineering, and Management of Tailings offer greatest opportunities for improving the sustainability of Greenfield Mining Projects (88% of respondents).
3. Authorities appear to be recognising the efforts of Companies and making steps to improve project sustainability (50% of respondents). Company efforts make no difference as authorities are very rigid and compliance driven (36% of respondents).
4. Mining Companies and Investors will need to lead the change in the next 5 years in improving the sustainability of new mining projects in the Balkan region. (56% of respondents). Changes will be introduced by State Governments (31% of respondents).
1. Private Debt funding is the most common option for Mining Entrepreneurialism in Central and Eastern Europe (47% of respondents). A combination of Equity or Debt is the second most favorable option (24% of respondents).
2. Funding of Green & Inclusive Mining Projects is accessible in Central and Eastern Europe (36% of respondents). The remaining respondents did not agree or were not sure.
3. Investor confidence in Mining projects in Central and Eastern Europe has visibly improved in the last 12 months (42% of respondents). It has visibly decreased (according to 33% of respondents).
4. Brownfield projects (45% of respondents) and Producing mines (45% of respondents) are mostly favored by investors in 2018.
1. State Mining Authorities are making little efforts to understand the developing technologies and are not showing a willingness to adapt regulations and permits (50% of respondents). Central governments are making proactive efforts and starting to adapt (according to 33% of respondents).
2. Training for skilled operators and technicians is required to adapt to the changing technologies in the Mining Industry in the region (67% of respondents).
3. Access to global support for the required services is the main challenge for providing a sustainable environment for new technologies in the region (56% of respondents). Pressure on Companies is necessary to employ local people. (according to 33% of respondents).
4. Reduced investment in the mining industry is the greatest risk to Companies and Countries if the mining industry in the region does not change at a quicker pace in the next 5 years (believe 44% of respondents). The highest risk is the reduction of opportunities for the development of supporting industries (according to 33% of respondents).
1. Change should mainly focus on improving the state governance to stimulate further development of mining projects in the region (79% of respondents).
2. State Reporting requirements are too rigid and should be replaced with one of the Internationally Recognised Reporting Codes (IRRC) to provide more flexibility to changing market conditions (77% of respondents).
3. Red-Tape and Bureaucracy are the main reasons for mining projects failing in the region (67% of respondents).
4. State Government (44% of respondents) and Local workforce and industry leaders (19% of respondents) can contribute the most to increasing confidence and mining investment in the region.
1. Governments should Publish Best Practice Guidance and Standards (50% of respondents) and adopt standards from other jurisdictions (38% of respondents) to promote best mining practice in their jurisdiction.
2. Companies should visibly adopt the highest standards of environmental and social performance (46% of respondents) and work proactively with regulators (31% of respondents) to promote best practice in the countries they operate.
3. Environmental Management is the most important factor that contributes to ‘The Mine We want to See’? (61% of respondents).
1. The resource abundance is a blessing (believe 67% of respondents).
2. Reforms aimed at modernisation of the economy, culture, political stability and education (31% of respondents) and Stricter government controls over resources development (23% of respondents) can help resource-rich economies to avoid resource curse.
3. Stricter government controls and regulation (45% of respondents) and Social Licence to Operate (27% of respondents) are the key challenges for mining in Central and Eastern Europe.
4. Most participants believe extractive industries have future in Circular Economy (89% of respondents).