The Foundation develops and supports initiatives in the following strategic areas:
1. RESOURCE GOVERNANCE
Strong governments capable of effectively managing mining or oil and gas projects are essential to ensuring positive benefits to host communities. For many new resource jurisdictions, governments need to build capacity ranging from managing regulatory requirements through to developing long term economic development plans which optimize resource revenues for key public investments.
The Foundation works in partnership with host governments and local educational institutions to identify key gaps in governance capacity and deliver accessible and practical training programs that strengthen national and local institutions.
2. EDUCATION AND SKILLS TRAINING
The development of mining or oil and gas projects can create employment opportunities for local communities. The vast majority of job opportunities are skilled or semi-skilled positions, requiring basic education levels and practical skills achieved through specialized technical or vocational training.
To ensure local communities have requisite skills to qualify for, and benefit from, employment opportunities directly or indirectly arising from operations, the Foundation partners with local training institutions to provide industry relevant programs, ensuring the availability of a capable and qualified workforce.
3. LOCAL PROCUREMENT
The purchasing power of mining or oil and gas operations can be a powerful catalyst for the local economy if the private sector can meet quality and delivery requirements. However, many operating assets are located in rural and remote areas, and local businesses often lack capacity and financing needed to meet the needs of the mining or oil and gas company.
The Foundation works with contributing partners to ensure procurement practices accommodate existing business capacities where possible. At the same time, the Foundation offers technical assistance and financing programs for local businesses, strengthening local capacity to bid for and win, business contracts.
Over time, this leads to cost savings for the company and keeps employment and income benefits in nearby communities.
4. ECONOMIC DIVERSIFICATION
The life of a mine or oil and gas development is limited. Communities which are heavily dependent on the project for employment or business opportunities will face critical challenges as operations end. Diversified economies ensure expanded employment and income opportunities for local communities during, and after, the life of the project.
The Foundation identifies sectors unrelated to mining or oil and gas, with growth potential and local employment opportunities. The Foundation provides risk capital and technical assistance to support businesses operating in these sectors, contributing towards resilient and sustainable economies.
5. SOCIAL AND ENVIRONMENTAL INNOVATION
Communities located in close proximity to resource development projects often face complex social or environmental challenges. The Foundation supports these communities in identifying and implementing solutions to these challenges.
When resource projects are located in developed economies where strong public institutions, an established educational system and a capable private sector are able to meet the needs of, and share benefits with, nearby communities, the Foundation supports the development and scaling of innovative solutions to regional or national social or environmental challenges.