Evaluate Business Conduct in the Mining Industry

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Business conduct within the Mining industries have changed overtime as the rapid demand of constant supply in raw and refined materials have increased. Due to such demand, the mining industry and the business within requires low-cost, high capability labors which only resource rich developing countries has to offer, as most of these countries have no legal regulation on labor services. This leads to issues such as exploitation of workers with focus on the dignity principle, the inequality of power under the fairness principle and bribery under the citizenship principle within the Global Business Standard codex. (Paine et.al 2005). The other standpoint however is foreign business within the mining industry, and specifically within developing countries can act as an instrument for economic growth for the nation and raising living standard for the employees, whilst providing a competitive advantage from the easily available labour for the business. (Campbell 2010) Finally, it’s about applying basic business conduct benchmark through the principles of the GBSC where businesses continue to source labour from developing nations whilst applying a higher ethical code of conduct toward its employees. One of the major issue within the Modern Mining industry is maintaining integrity and ethically compete within the global market, which requires discrimination on any acts of bribery. The actions of Bribery defined by AAMIG president Bill Turner ‘Bribery is a payment for something to which you’re not legally en¬titled’ . Bribery comes in multiple characteristic and forms, such as the facilitation payment. Conversely, In order to remain competitive within the global mining market, every business must source an effective workforce meaning t... ... middle of paper ... ... development in Africa: redefining the roles and responsibilities of public and private actors in the mining sector’, Resources Policy, vol. 37, no. 2, pp.138-43, viewed 12 May 2014, ScienceDirectdatabase, DOI 10.1016/j.resourpol.2011.05.002 Cragg, W & Greenbaum, A 2002, ‘Reasoning about responsibilities: mining company managers on what stakeholders are owed’, Journal of Business Ethics, vol.39, no. 3, pp.319-35, viewed 20 May 2014, JSTOR database. McEwen, D Paul, 2011 ‘Fraud and corruption in the mining and metals Industry’ in Scott, H Graham, Mining Law, Paper 1.1 Ernst & Young LLP, Vancouver, BC viewed on 19 May 2014 https://www.cle.bc.ca/PracticePoints/NAT/11-FraudandCorruption.pdf Siegel, S 2013, ‘The missing ethics of mining’, Ethics & International Affairs, vol. 27, no. 1, pp. 3-17, viewed 20 May 2014,Academic OneFile database, DOI:10.1017/S0892679412000731.

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