Josemaria Resources Inc. and Filo Mining Corp. hold some of the largest copper and gold deposits in the high Andes of Argentina and Chile. While undergoing pre-feasibility studies, key priorities for both companies – whose deposits are located near one another – involved securing land access, strengthening community relations and positioning the projects for financing opportunities.
Primarily located in San Juan, Argentina, both projects are remote, difficult to access, and have environmental challenges relating to water and biodiversity. To move forward, the projects would require third-party financing. So demonstrating to potential lenders and investors that our approach to mine development is responsible and aligns with international best practices was important to de-risk the investment opportunity.
Elevating Development Practices
The Foundation supported both companies in an advisory capacity to lay the groundwork for addressing environmental and social risks and securing social license at an early stage in the project lifecycle. This effort involved providing hands-on support for community outreach – both behind-the-scenes planning and direct stakeholder interactions – as well as crafting their respective responsible mineral development policies and conducting gap assessments of their projects against the IFC Performance Standards on Environmental and Social Sustainability.
The Foundation continues to support these companies in operationalizing their responsible mineral development policies and closing the gaps against the IFC Performance Standards. These ongoing efforts have helped to inform project design considerations, identify and mitigate key social and environmental risks, as well as foster positive relations with local stakeholders, before the completion of the respective feasibility studies.
UN Sustainable Development Goals
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