Strategic consulting for a major mining company
One of Russia’s largest mining companies decided that the systems through which it engages with government bodies (GR) and stakeholders – public bodies, local communities, the media – in the regions in which it operates would benefit from being overhauled. It was also decided such improvements be in alignment with best Russian and international practice.
Our team set about drawing up a corporate strategy for engaging with government bodies and other interested parties. The project comprised several stages.
The first of these involved an analysis (audit) of the client’s interaction with stakeholders. Our team went through the company’s corporate documentation and carried out expert interviews with both internal and external stakeholders. This enabled us to characterize the way in which the client engages with stakeholders, and to identify its strong points as well as those areas where there was room for improvement.
We also took a close look at any changes in the external environment to which the client needed to adapt, such as state policy for their sector, issues around regulation, and the unique nature and priorities of the regions in which it has a presence.
The next step was a benchmarking analysis of those best practices employed by Russian and international mining companies when working with stakeholders, and our molding our client’s activity around them. Over 60 Russian and international corporate documents relating to stakeholder engagement and sustainable development were examined, including standards and guidelines from international organizations. As a result, the client was presented with 10 tools for optimizing its approach to sustainable development: of which 7 were acknowledged as likely to be highly beneficial to the company.
Through the work they carried out, our experts managed to develop a successful corporate strategy for engaging with government agencies and other interested parties.
Our strategy was presented to the company’s management, and after discussion, was adopted by the Board of Directors. This strategy included a new system for assessing the effectiveness of its interaction with state institutions, founded upon best international and Russian practice.