Bluestone Resources is a leader in sustainable resource development in Guatemala. As a values-based company, Bluestone’s partnership with the Lundin Foundation focuses on sustainability reporting, performance and advancing the mine’s local procurement and economic diversification programs.
The Foundation leverages its award-winning track record and experience with other Lundin companies to collaborate with Bluestone to develop small businesses around the Cerro Blanco mine and diversify the local economy. In addition, the Foundation supports Bluestone to meet international standards for sustainability reporting and performance, paving the way for the company to set the bar for responsible mineral development in Guatemala.
In 2021, the Foundation completed a local supplier mapping study to understand local companies’ capabilities and align Bluestone’s local supplier procurement processes and policies. This laid the groundwork for launching a local supplier development program called NEXO. Based on a proven methodology developed by the Foundation, the program was piloted with local companies surrounding the mine before the full program launch in 2022. The Foundation also identified opportunities to develop small businesses in non-resource sectors to ensure the revenue coming into the region creates lasting economic benefits.
Bluestone and the Foundation’s approach is designed to maximize benefits for local communities by developing local content programs for hiring and procurement and investing in opportunities to diversify the economy. Together, Bluestone and the Foundation are creating shared value for shareholders, the communities surrounding the Cerro Blanco mine, and the government of Guatemala through sustainable resource development.
“We are grateful to be working with the Foundation to help Bluestone achieve our goals of creating shared benefits through responsible resource development. A prime example of this is through the NEXO program where we will aim to enhance the capabilities of local suppliers and small businesses with the intention of creating lasting benefits and opportunities for the communities around the Project.”
– Jack Lundin, President and CEO Bluestone Resources
Business development program for local suppliers based on operations.
Identifying opportunities to develop and invest in other sectors.
UN Sustainable Development Goals
Our initiatives strive to improve people's lives and protect the planet and are in support of the following UN SDGs: