e3 PLUS
Ethical Conduct
Table of Contents
5.0 Ethical Conduct - Introduction
5.1 What Are Corruption and Bribery?
5.2 Why Is Countering Bribery and Corruption Important to Explorers?
5.3 Recommended Practices
5.4 What Is Conflict of Interest?
5.5 Why Is Managing Conflict of Interest Important?
5.6 Recommended Practices
5.7 Responsible Political Engagement
5.8 Recommended Practices
Introduction
Many countries rich in mineral resources are mired in poverty and weak governance. As a result of weak governance, struggles for control of resources often lead to conflict, human rights violations and sometimes civil war. Public revenues earned from resources are often squandered through corruption.
The relationship in many countries between natural resources, conflict and corruption has led to increasing focus on the extractive sector and its potential role in countering corruption. The mining sector is generally considered to be one of the business sectors particularly susceptible to corruption.10 The high commercial value of natural resources makes them a target for acts of corruption, misappropriation, or plundering. The management of mineral rights is characterized by complicated regulations and high levels of government control that provide numerous opportunities for manipulation and corrupt practices.