What is the conceptual definition of corruption risk mitigation in the mining sector, and what are good practices in the implementation of mitigation measures. Of particular interest is the award of contracts and environmental permits.
The mining sector is especially vulnerable to corruption risks due to its technical complexity, relations between the private and the public sector and large revenues. The implementation of mitigation measures is crucial to address corruption risks in the sector. However, an effective risk mitigation should be preceded by proper identification and assessment of corruption risks. Good practices in corruption risk mitigation when awarding mining contracts include ensuring transparency in contract negotiation and licensing processes , transparency of beneficial ownership, promoting business integrity, having adequate regulatory frameworks, and preventing illicit influence and conflict of interests .
1. Defining corruption risk mitigation 2. Planning and implementing corruption risk mitigation 3. Corruption risks in the mining sector 4. Good practices in corruption risk mitigation 5. References
Corruption risk mitigation is not about eliminating risks but about reducing those crossing the risk level of tolerance.
Perceptions of risk can be as important as the risk itself.
An effective corruption risk mitigation should be preceded by proper risk identification and assessment.