A “new” Ontario Mining Act1 comes into full force April 1, 2013. The last time the Mining Act had a major overhaul, famed American gangster Bugsy Siegel was a newborn and Sir Wilfrid Laurier was Prime Minister of Canada. The year was 1906.
It has become increasingly clear that Canadian multinationals whose global operations intersect with foreign governments and agencies have a vital interest in establishing rigorous anti-corruption compliance programs and implementing them with strict discipline. In this article, Blaney McMurtry partner Henry J. Chang discusses why, who is most at risk, what these programs should contain, and what benefits they confer.
Corporate social responsibility (CSR) and the resulting ‘social licence’ that its faithful exercise can deliver is becoming as basic to the needs of ore mining, oil and gas, forestry, fishery and other resource-based businesses as extraction licences and permits. Complacency and sloppy (or non-existent) CSR planning and practice have cost corporations dearly in project delays and interruptions, profitability and reputation.
Co-written by Brian Lau Canadian issuers with significant business operations in emerging markets are coming under increased scrutiny by market regulators here. In the last 12 months, the Ontario Securities Commission (OSC) and the two major Canadian stock exchanges have published three papers on the adequacy of regulations governing emerging-market issuers.