Cracking the Small Cap Code: Changes to Community Consultation Requirements
In March 2016, the NSW dept of Resources and Energy released their Exploration Code of Practice: Community Consultation, which outlines new, enforceable mandatory record keeping and annual reporting rules for prospectors. This development reflects a growing national focus on the importance of process, documentation and reporting for community consultation in the sector. Are you prepared for the changes?
The new requirements of the Exploration Code of Practice include:
- Conducting a community risk assessment before commencing activities
- Preparing a community consultation strategy to mitigate these risks
- Implementing, monitoring and reporting on this strategy
- Maintaining stakeholder engagement records
Penalties for failing to comply can reach up to $1.1M.
The good news is, we can help with this.
Paradigm Resources leads the way
Back in June, we welcomed Paradigm Resources to the CM community – a small explorer facing these same challenges.
Paradigm consults extensively with communities and is committed to building productive relationships with their diverse range of stakeholders. Often dealing with sensitive issues, they strive for innovative solutions and best practice techniques in their relationship management.
Paradigm needed a way to manage their increasing reporting requirements – efficiently and cost-effectively. Having tried other products in the past, Paradigm found that Consultation Manager’s intuitive and accessible system provided them with the best tools for the job.
“These days, exploration companies need to think beyond the rocks. We all know that engaging with the community and our industry stakeholders is critical to project success. Consultation Manager provides a comprehensive yet user friendly platform to manage our stakeholder relationships and communications, and enables us to easily meet our reporting obligations with Government.”
Jason Needham, Exploration Manager at Paradigm Resources
We are really excited to be working with this unique venture, a collaboration between traditional landowners and the resources industry. And by working with Paradigm, we discovered that there was a broad need in the small explorer space to deliver a cost-effective tool for their engagement requirements.
A cost-effective reporting tool for small cap resources
It’s one thing for large-scale, profitable resources companies to handle compliance obligations; it’s entirely different for smaller operators to meet these needs without straining budget and timelines.
So, Consultation Manager is releasing a special edition of our Stakeholder Relationship Management product specifically for small exploration companies. Eligible companies will have access to our product suite at a price to suit the speculator’s budget.
If you’re concerned about meeting your reporting obligations for community consultation, contact us to reserve a Small Cap Edition.
If you’re interested in how other resource companies use Consultation Manager, request your industry information sheet now.
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