A Purpose Driven Company

A Purpose Driven Company

Published on August 29, 2018


Midas Gold says it is a different kind of mining company, but what does that mean? Historically, mining companies have been seen as profit driven and everything else – including the environment, worker safety and communities – was an afterthought.  We take a different approach.  We believe it is time for mining companies to be purpose driven.

It is no longer enough for projects to just meet basic regulatory requirements. We believe modern, progressive mining companies must encompass a holistic view of their enterprise. Mines must be about more than profit, they need to be about employees, community, protection of the environment and mines must win the support of the communities closest to their sites in order to operate. These concepts are at the heart of Midas Gold.

It is no secret that the mining companies of the past left behind questionable legacies. We understand this has made people skeptical of the mining industry and it is no surprise some of this skepticism extends to us. We understand we have to earn the community’s trust by doing things differently than our predecessors and following through on our promises.

Since the beginning, we’ve focused on building bridges with those interested in the Stibnite Gold Project. We’ve reached out to local communities, NGOs, all levels of government, Indian Tribes, elected officials, local businesses and community organizations. We do all of this in an open and transparent manner, taking 400-500 visitors to the site each year to see us in action.  We committed ourselves to listening and working with communities to find solutions to concerns and opportunities to partner. Through open dialogue, we continue to make our project better and are committed to keeping this practice going. To formalize these practices, we are working on establishing community partnership agreements to bring counties, cities and citizens around the table.  We want to ensure communities always have a seat at the table and a direct line of communication to Midas Gold so they can voice their concerns and work with us to develop long-term solutions that make sense for their towns. This comes with no strings attached. It is the right thing to do and it will help us run a better business.

We hope these agreements will demonstrate our belief that profit, communities and the environment can all work together. It is true that without a profitable operation, Midas Gold would not be able to raise the capital to develop the Stibnite Gold Project and undertake the work required to restore the site. However, profits have never been our only objective. Our directors and employees are equally passionate about repairing the legacies of past mining activity and bringing economic benefits to central Idaho, after all, most of us live right here.

While our project is still undergoing a rigorous permitting process for development, we have not waited to demonstrate our purpose-driven nature by spending locally, hiring Idahoans and investing in local communities and environmental restoration.  To date, we have reclaimed 33 acres of land and planted more than 50,000 trees at site. In 2017 alone, we donated $125,000 to local schools, parks, programs and community events, our employees gave 1,800 hours of their time volunteering for various causes and we even rescued 13 people trapped in the backcountry.

Of course, we plan to make profits for our shareholders, but we have a much greater vision.  Our purpose is to leave the Stibnite Gold Project site better than we found it and to leave a lasting legacy of economic benefits in Valley County and Idaho.  Our employees are driven to achieve these goals by their own ideals and values, and they would not be working with Midas Gold if that was not the case.

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