ETHICS AND FINANCIAL SERVICES
Research paper ----------OK Tedi Mining Ltd. Case Study
MAA350 ETHICS AND FINANCIAL SERVICES
To Felicity Fallon
From Student's Name: Meng Lin Student's ID: 900330168
Introduction
The Ok Tedi mine Limited is one of the major copper concentrate producer in the world. They owned smelting market in Asia, Europe, such as Germany, Korea and Japan, etc. The corporation concentrated on social responsibilities, including providing education and health service, focusing on development of women and young people and business development programs. According to the Ok Tedi Development Foundation, they trained local work forces to increase life skills and deliver mine. By doing these, it is good for social and economic benefits for the communities from the Star Mountains down the Ok Tedi and Fly River systems (OTML, 2011). In the following questions, it will be based on the company's ethics in the regular environment to analyse Ok Tedi Limited.
1. If you were a member of the board of directors during the time of the Ok Tedi operations, would you have been in favour of implementing a social accounting and reporting regime in the company?
As a member of the board of directors, my responsibilities are not only to ensure the company operating profitable, but also need to pay more attention on social accounting and reporting regime, such as on helping communities and social economy. Especially in the Papua New Guinea, is covering with two major environmental Acts and exempted mine development. The providing social accounting reporting to our investors, funding providers and other shareholders, they will have a sense of understanding about our development on staffs, clients and the public.
The social accounting embraces economic and monetary variables. The main purpose of social accounting and reporting to shareholders and other directors, is process of producing accounts of the social, environmental and
MAA350 ETHICS AND FINANCIAL SERVICES
To Felicity Fallon
From Student's Name: Meng Lin Student's ID: 900330168
Introduction
The Ok Tedi mine Limited is one of the major copper concentrate producer in the world. They owned smelting market in Asia, Europe, such as Germany, Korea and Japan, etc. The corporation concentrated on social responsibilities, including providing education and health service, focusing on development of women and young people and business development programs. According to the Ok Tedi Development Foundation, they trained local work forces to increase life skills and deliver mine. By doing these, it is good for social and economic benefits for the communities from the Star Mountains down the Ok Tedi and Fly River systems (OTML, 2011). In the following questions, it will be based on the company's ethics in the regular environment to analyse Ok Tedi Limited.
1. If you were a member of the board of directors during the time of the Ok Tedi operations, would you have been in favour of implementing a social accounting and reporting regime in the company?
As a member of the board of directors, my responsibilities are not only to ensure the company operating profitable, but also need to pay more attention on social accounting and reporting regime, such as on helping communities and social economy. Especially in the Papua New Guinea, is covering with two major environmental Acts and exempted mine development. The providing social accounting reporting to our investors, funding providers and other shareholders, they will have a sense of understanding about our development on staffs, clients and the public.
The social accounting embraces economic and monetary variables. The main purpose of social accounting and reporting to shareholders and other directors, is process of producing accounts of the social, environmental and