We seek to invest in mining and metals companies developing projects around the world. We exclude certain commodity groups and countries where we feel political risks are unacceptable. We also exclude opportunities where we feel the management of ESG matters would not be adequately addressed.
Undertaken responsibly, mining investment can contribute to poverty reduction and sustainable development at the community level. Mining can be a positive influence, providing employment and infrastructure and supporting community development such as education and healthcare programs.
We invest in companies that are developing mining projects, often in remote locations in emerging market nations, and so we must carefully assess, monitor and manage the impact on local communities and environments and ensure that these projects are developed in accordance with responsible investment principles. Where we identify fatal flaws in an investment opportunity resulting from ESG issues then we will decline to invest even if the investment returns appear promising. It is critical to incorporate an analysis of such factors into our investment selection approach.