Due diligence can be understood as the process through which enterprises identify, prevent, and mitigate the actual and potentially adverse impacts of their operations. Due diligence is an on-going, proactive and reactive process, and can cover a variety of CSR-related financial, social and environmental factors. Below are some examples of the due diligence and risk assessment processes of Canadian mining and exploration companies:
Responses by Company
Cartier Resources Inc.
We visit and audit selected contractors.
Casa Minerals Inc.
We conduct due diligence on everything, starting from human resources, to picking the right suppliers and contractors.
Dios Exploration Inc.
Dios adopted the eight principles of E3 Plus and asked its consultants and suppliers to also respect them.
Freeport Resources Ltd.
We use a common sense approach on a case by case basis.
Independence Gold Corp.
The company reviews conversations and documents what was said during meetings in an effort to minimize misunderstandings. The company documents chains of events and outcomes for any accident, or an incident such as a fuel spill.
Softrock Minerals Ltd.
The company’s due diligence process includes filing all reports requested by government.Footnote 1
Tashota Resources Inc.
The company conducts due diligence in conversations between directors.
Typhoon Exploration Inc.
When planning operations, we ensure that all aspects of the work are included and that nothing is left to chance.
Zenyatta Ventures Ltd.
The company conducts due diligence through internal and external audits.
The following companies indicated that they conduct due diligence as part of their management process, but declined to include any further details:
- Axe Exploration Inc.
- Foran Mining Corp.
- Gensource Potash Corp.
- Great Lakes Graphite Inc.
- Puddle Pond Resources Inc.
- Red Pine Exploration Inc.
- Skyharbour Resources Ltd.