What is the track record of a company applying for a mining licence? Inadequate investigations into past conduct and compliance can allow companies with a history of corruption or a poor track record the right to mine in Australia.
Transparency International Australia’s research into the process of approving mining licences in Queensland and Western Australia found the current due diligence checks to be lacking. They are limited to financial and technical capacity and non-compliance investigations within Australia, do not look at companies’ track record overseas, and do not include any examination of the beneficial owners – those who will ultimately benefit from mining Australia’s resources.
This factsheet explores one of the key corruption risks we identified in our research into the mining approvals process in Queensland and Western Australia.