Change has gradually come to the industry. Corporations, particularly senior mining companies with large staffs and the capacity to hire staff dedicated to community engagement, have made strides in their corporate social responsibility programs. These companies are working with local communities, governments and grassroots organizations.
"Within companies, you read or hear about 'best practices,' and one of the ideas is to talk to the community early on," Klein says. "It seems [like] common sense, but in a lot of circles this is kind of a new idea."
Solid corporate social responsibility programs have gone mainstream, but their financial benefits are not always obvious. In a study looking specifically at the mining industry, Henisz and his research partners found that the value of effective engagement with stakeholders - from local NGOs to activist organizations and community groups - is more valuable than the gold itself.
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