Lonmin CEO Ben Magara
Lonmin CEO Ben Magara

South Africa’s platinum major Lonmin has received a ‘highly commended’ award at PwC’s 13th annual Building Public Trust Awards for its sustainability reporting.

The awards are presented for outstanding corporate reporting in the private and public sectors, and seeks to “recognise the achievement of organisations that have differentiated themselves through the clarity and transparency of their reporting – in short, showing the way forward on the journey towards ‘telling it how it is’”.

At the awards ceremony, PwC said: “As well as applauding their efforts , we urge others to emulate them in striving for ever more open, accessible, honest and integrated disclosure of their objectives, actions and impacts”.

Lonmin was awarded the accolade for clear and open sustainability reporting, structured imaginatively around clear linkages between different stakeholder groups and sustainability issues.

PwC was particularly impressed by the introductory letter from the CEO, which focuses on the company’s development of stakeholder relationships, and by the fact that this stakeholder-centric perspective is sustained throughout the discussion of each of the material sustainability focus areas.

Risks are also discussed alongside opportunities within each focus area with risk impacts and mitigation clearly linked to management plans.

Coverage of the strike in 2014 was also found to be balanced and transparent.

“This is sustainability reporting that really holds your attention,” commented a judge.

Top Stories:

Paladin Energy confirms it is not selling Kayelekera mine

Mineral resources director-general resigns

Namibia Rare Earths CEO acquires further 9% stake in company