May 23, 2008- ICMM's Kathryn McPhail has won the Bronze Award for the International Finance Corporation (IFC)/Financial Times (FT) essay competition for her essay on "Sustainable Development in the Mining and Minerals Sector: The Case for Partnership at Local, National and Global Levels". This year the annual competition received 750 essays from 90 countries, under "Private Sector Development: Creating Markets, Transforming Lives".

Kathryn McPhail, Senior Program Director for ICMM, based her entry on ICMM's Resource Endowment initiative. This was the only submission to discuss the development role of mining which, along with oil and gas, is one of few significant investors in the world's poorest countries, which are often overlooked by other business sectors.

The essay explores ICMM's independent research (which commenced in 2004) into enhancing mining's contribution to poverty reduction. The objective is to identify the critical factors that have allowed some countries to benefit from their substantial resource endowments and to avoid the so-called 'resource curse'. Practical steps were then identified for the mining industry and others, such as governments, local communities and development agencies - to enhance the positive impacts of mineral resource investments.

The panel of seven judges included global experts from a diverse range of geographic backgrounds and industries. They made their decisions based on quality of analysis and logic of argument; implications for private sector development; innovation and originality; relevance to international audiences; and writing style and structure.

One of the judges commented, "This year's level of competition is high with around 50 per cent increase in the number of submissions. This clearly shows that there is a market for innovative but grounded development approaches especially around the private sector agenda". Kathryn McPhail's essay "in particular, provided an insight to the international thinking on private sector development in the mining sector."

Kathryn McPhail thanked Dr John Groom, Chair of ICMM's Resource Endowment initiative working group for his leadership and support. "It is also a great privilege to work together with the very many people who have been involved in the process to date "“ both at the international and the country levels. Their active engagement in, and strong contribution to, the Resource Endowment initiative is terrific. This is a truly collaborative effort."

ICMM was formed in October 2001 to represent leading international mining and metals companies. Our vision is "A respected mining and metals industry that is widely recognized as essential for society and as a key contributor to sustainable development".

The Resource Endowment initiative (REi) began in May 2004 in partnership with UNCTAD and the World Bank Group. It aims to help governments, companies and local communities, development assistance agencies and the voluntary sector work together so that mining benefits all citizens.

A full copy of the essay is available at www.ifc.org/ifcext/essaycompetition.nsf/AttachmentsByTitle/Bronze_Mining/$FILE/Bronze_Mining.pdf

Notes to Editors:

The International Council on Mining and Metals (ICMM) is a CEO-led organization representing many of the world’s leading mining and metals companies as well as regional, national and commodity associations. An important part of its mandate is dedicated to sustainable development. ICMM members are committed to improving their sustainable development performance and to the responsible production of the mineral and metal resources society needs. ICMM's vision is for a respected mining and metals industry that is widely recognized as essential for society and as a key contributor to sustainable development.

ICMM's 18 corporate members are:
Alcoa, Anglo American, AngloGold Ashanti, Barrick, BHP Billiton, Freeport-McMoRan Copper & Gold, Gold Fields, Lihir Gold, Lonmin, Mitsubishi Materials, Newmont, Nippon Mining & Metals, Rio Tinto, Sumitomo Metal Mining, Teck Cominco, Vale, Xstrata, Zinifex.

ICMM's 30 association members are:
Cámara Argentina de Empresarios Mineros, Cámara Asomineros Andi (Colombia), Cámara Minera de México, CAMIVEN (Cámara Minera de Venezuela), Chamber of Mines of South Africa, China International Mining Group, Cobalt Development Institute, Consejo Minero de Chile A.G., Eurometaux, Euromines, Federation of Indian Mineral Industries, Indonesian Mining Association, Instituto Brasileiro de Mineraçao, International Aluminium Institute, International Copper Association, International Molybdenum Association, International Wrought Copper Council, International Zinc Association, Japan Mining Industry Association, Lead Development Association International, Minerals Council of Australia, Mining Association of Canada, Mining Industry Associations of Southern Africa, National Mining Association USA (NMA), Nickel Institute, Prospectors and Developers Association of Canada, Sociedad Nacional de Minería (Chile), Sociedad Nacional de Minería Petróleo y Energía (Peru), World Coal Institute, World Gold Council.

International Council on Mining and Metals (ICMM)

International Council on Mining and Metals (ICMM)

ICMM is a CEO-led industry group that addresses key priorities and emerging issues within the sector. It seeks to play a leading role by promoting good practice and improved performance internationally and across different commodities.

ICMM provides a platform for industry and other key stakeholders to share challenges and develop solutions based on sound science and the principles of sustainable development. Its vision is for a respected mining and metals industry that is widely recognized as essential for society and as a key contributor to sustainable development.

ICMM's mission is two-fold - to distinguish its members as industry leaders and to make a contribution to raising standards across the industry as a whole.

To be an ICMM member, a company must build trust and respect with key stakeholders as a result of good performance in sustainable development, including clear and comprehensive approaches to reporting and assurance.

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