Rigorous Due Diligence

As capital providers, we recognize that the greatest influence we have to foster good ESG practices within our portfolio takes place in the moments before we commit our capital and with our ongoing portfolio management decisions. Good ESG practices are core to our identity. Our ESG due diligence is foundational to our investment decision-making process and therefore is comprehensive in scope, highly detailed and designed to fit the specifics of each situation. The broad scope of our due diligence includes but is not limited to:

  • environmental and social impact analysis;
  • labor, human rights and working conditions;
  • stakeholder engagement;
  • workforce and community health, safety and security;
  • sustainability;
  • biodiversity and conservation;
  • indigenous peoples; cultural heritage; and
  • corporate governance.

When conducting due diligence, we consider all of these parameters both at that time as well as over the history of the asset. We conduct robust due diligence with the objective of investing in projects and companies that are well-managed and where the range of ESG aspects and impacts are such that the mine operates sustainably over the long term to protect our investments and reputation, along with those of our stakeholders and investors.

We do not and will not invest in opportunities that fail to meet our strict set of performance standards in any one of these areas, regardless of the apparent economic merit. For example, we do not invest in any opportunities that involve riverine tailings disposal, child labor or forced labor. Post-investment, we continue to track our partners' ESG related metrics, most of which are disclosed in their public filings or websites.

We believe that optimal ESG performance helps ensure that the mines and projects we invest in are operated and developed responsibly to protect worker health, safety and the environment; that social impacts are identified, managed and mitigated; human rights are respected; and benefits accrue to local communities and a broad range of stakeholders. Strong ESG performance by our partners helps ensure that our investments enjoy the privilege to operate from those affected by mining, protecting our business and shareholders and, ultimately, our reputation.