Mod slavery act & Canadian miners17 May 2023 18:47
“ The Modern Slavery Act
The Canadian Parliament on May 3 passed Bill S-211, the Modern Slavery Act. The new legislation, aimed at combating forced and child labor in supply chains, will have profound implications for all Canadian-headquartered companies that meet its thresholds, especially miners.
According to a recent article about the act, by mining sustainability think tank and ESG consultancy Sympac,
Recent estimates from the International Labour Organization put the number of people living in forced labour conditions, specifically, at 27.8 million globally, on any given day. In its efforts to curb this, Canada’s new Modern Slavery Act expands what is considered forced and child labour, and introduces mandatory reporting requirements that will apply to many Canadian headquartered and listed mining companies. This includes disclosing your company’s actions to manage forced and child labour risks — and their effectiveness.
Which companies does the act apply to and what do they have to do to comply with it?
The answer to the first question is any company that is listed on a stock exchange, has a place of business, conducts business or has assets in Canada, that also meets at least two of the following conditions: have at least $20 million in assets, generate a minimum $40M in revenue, or employs an average of 250 employees or more.….”
https://aheadoftheherd.com/bill-s-211-the-modern-slavery-act-has-profound-implications-for-canadian-listed-mining-companies-richard-mills/
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