Case Studies > Monitoring the performance of mining operations
Monitoring the performance of mining operations
For the past three years, we have had a revolving credit facility in place with Centerra Gold, a Canadian-registered mining firm with operations in the Kyrgyz Republic, Mongolia and Turkey. Following extensive independent due diligence and an agreement on a series of corporate and site-level Environmental and Social Action Plans (ESAPs), a monitoring programme has been implemented to provide the Bank with up-to-date information on the environmental, health, safety, and social performance levels of this project. The monitoring programme includes three distinct forms of information gathering:
- Documentation and reports submitted by the client on issues agreed with the Bank during due diligence and in the ESAPs.
- Site visits and management meetings carried out by staff of the Environment and Sustainability Department (ESD).
- Independent site visits by third-party consultants to review performance.
At the corporate level, Centerra now issues annual sustainability reports, which disclose environmental, safety and social performance levels. The reports include information on corporate performance and also site-level information on emissions, discharges, health and safety performance, and social engagement. We were consulted in the scoping of the report to ensure that it met our requirements.
Throughout the lifetime of the facility, ESD staff have undertaken annual visits to the Kumtor Gold Mine in the Kyrgyz Republic, and conducted site visits to the Boroo and Gatsuurt mines in Mongolia and the Öksüt mine in Turkey. In addition, our environmental and social specialists have regularly met with Kumtor management in Bishkek to discuss progress in implementing agreed action plans. Given the visibility of the Kumtor project in the public domain, we also liaised with an independent international consultancy that carried out an evaluation of the Kumtor mine operations in 2012.
The results of all monitoring activities have shown that, within the countries where we invest, Centerra continues to operate all its mines to standards that can be considered international best practice.