A new lobby group report has criticised top mining firms, saying that they are too slow in correcting the gender imbalance at board level.
Women in Mining UK supports the appointment of more female executives in the mining industry and prepared the paper with PricewaterhouseCoopers, Bloomberg reported.
According to the report, the top 100 globally listed mining companies have increased the number of female board appointments by only 3.1% since 2012.
The report stated that: “At this rate it will take until 2039 for the top 100 listed mining companies to reach the 30% critical mass of women on boards.”
“The argument for more women in leadership roles in the mining industry is a business imperative, not just a debate about equality.”
The UK Goverment is urging all companies to promote women to board level but has ruled out imposing quotas.
Women in Mining UK chairwoman said in the report: “The argument for more women in leadership roles in the mining industry is a business imperative, not just a debate about equality.”
Supporting this claim, a report published in 2011 by former banker Mervyn Davies called for a target of 25% female representation at the biggest businesses, as companies that appoint women to their boards perform better.
A 2012 paper by Credit Suisse Group said that better performance can be expected from mixed boards, Bloomberg cited.
In the six years up to 2012, companies with a market value of more than $10bn and at least one woman on their board have outperformed those with all-male boards and gained a higher return on equity.