Third Party Risk Management and Compliance Requirements for Mining Companies

Mining companies need to manage complex international operations; ensure that Health Safety Environmental and Quality (HSEQ) standards are continuously met; ensure that financial data is accurate and insurance policies are in place; and work to comply with a broad range of regulations, including the Foreign Corrupt Practices Act (FCPA), the UK Bribery Act, and Conflict Minerals regulations such as the Clean Diamond Trade Act and Dodd-Frank Section 1502.

The Aravo Risk and Compliance Solution for Mining Companies

Aravo works with the world’s largest mining company to power their Third Party Registration and Qualification initiative. Based in Melbourne, Australia, Aravo’s customer required sophisticated, automated registration and qualification capabilities in order to comply with the 2011 Australian Parliament Local Industry Participation Plan Amendments. The Aravo solution requires all third parties to affirm the company’s charter, accept standard terms and conditions, and provide standard company information inclusive of local hiring standards. Once registered, the third party information automatically routes to the appropriate party(s) for review and approval/rejection, with user-defined tracking metrics and globally accessible reporting dashboards.

Aravo Risk & Compliance Solution Benefits for Mining Companies

  • Streamline and harmonize data and processes across the third party and supply network for improved transparency, flexibility and agility
  • Eliminate risk silos and deliver a centralized ‘version of the truth’ for the extended enterprise
  • Increase third party transparency through Tier 1, 2 and beyond
  • Reduce complexity and third party administration costs
  • Expand third party networks and enter into new markets with confidence
  • Accelerate time to market
  • Reduce brand risk
  • Improve oversight with an always accessible audit trail
  • Expand to new use-cases as you harness the power of the flexible Aravo Enterprise platform

Regulations and Standards that impact the Mining industry

U.S. Foreign Corrupt Practices Act (FCPA)

Forbids bribing foreign officials and mandates transparent accounting practices.

UK Bribery Act

Covers British criminal laws related to bribery and establishes penalties including imprisonment, fines, and confiscation of property.

ISO 14001:2015

Sets out the criteria for an environmental management system applicable to any industry.

ISO 50001

Supports the use of Energy Management Systems (EnMS).

ISO 9001:2015

The international standard for quality management systems.

OHFAS 18001

The international specification for occupational health and safety management systems.

SA 8000

The certification standard created by Social Accountability International (SAI) for decent workplaces, encompassing regulations about child labor, forced labor, and health and safety.

Trafficking Victims Protection Act (TVPA)

Authorizes protections for undocumented immigrants who are victims of severe forms of trafficking.

UK Health & Safety at Work Act of 1974

Provides for securing the health, safety and welfare of persons at work.