In a world increasingly prioritising sustainability, industries traditionally viewed as environmental adversaries are now stepping up to lead the charge towards a greener future. The mining sector, a critical supplier of raw materials for green technologies, is no exception.
TOP International Holding, under the leadership of Dato’ Victor Tan, is at the forefront of this transformation. In this exclusive interview with The Exchange Asia, Dato’ Victor Tan shares the company’s journey, challenges, and vision for a sustainable future.
The Shift to Sustainable Practices
“Over the past decade, TOP has experienced remarkable growth across our bauxite and commodities trading business units. A year after we set up the business, we became Malaysia’s biggest bauxite exporter in 2015,” Dato’ Victor said.
“We pioneered anchorage loading and rapidly expanded our operations into Indonesia, Guinea, and China. But due to restrictions in Malaysia’s mining industry, we shifted our focus to Guinea, becoming the country’s first and only non-MNC mining operator.”
Today, TOP International is more than just a concession owner. “We are deeply involved in infrastructure development projects that provide full integrated supply chain services to enhance efficiency and quality control. Our work in the mining and resources industry is crucial to the world’s green transition,” says Dato’ Victor.
The raw materials mined by TOP form the foundation of electric vehicle chassis, batteries, and green building materials.
“True leadership in our industry means not only driving business growth but also fostering positive change. By prioritising sustainability, we are not just ensuring our future but also contributing to a better world for generations to come,” he added.
The Green Energy Transition and Its Challenges
The transition to green energy is a critical undertaking for the mining industry, according to Dato’ Victor.
“We are tasked with not only integrating sustainable practices into our operations but also playing our part in avoiding a critical materials deficit necessary to supply green technology,” he explained.
TOP is adopting several sustainable practices, including reducing water usage, improving waste management, and rehabilitating mined land.
“To date, we have rehabilitated 1,057 hectares of land and continue to restore each mine site that reaches the end of its cycle,” Dato’ Victor highlighted.
Yet, the path to greening the mining industry is not without its challenges.
“Many mine sites are in remote locations lacking Internet coverage or power grid maturity, making it challenging to build infrastructure for data collection. Additionally, the workforce needs to be equipped with new skill sets to operate emerging technologies,” Dato’ Victor notes.
However, the long-term benefits for the environment and society make these investments necessary.”
Sustainability and Profitability: A Symbiotic Relationship
In a time when many companies deprioritises ESG (Environmental, Social, and Governance) initiatives during economic downturns, TOP International Holding has found that sustainability and profitability are mutually reinforcing.
“We have witnessed a positive correlation between our commitment to sustainability and our profitability,” asserts Dato’ Victor.
TOP has adopted a triple bottom line approach of People, Planet, and Performance, to which he explained, “Financial success cannot be pursued in isolation. By balancing our economic goals with social and environmental considerations, we ensure the longevity and resilience of our business.”
This approach has not only reduced risks and enhanced the company’s reputation but also opened up new market opportunities.
“Importantly, goals and strategies are nothing without a good team. We engage our employees through regular training and awareness programs, highlighting the importance of sustainability and how their individual efforts contribute to our overall goals,” he continued.
Competing with Industry Giants as an SME
Operating as an SME in the mining industry presents unique benefits and challenges. “One of the primary benefits is our agility in decision-making. Unlike larger corporations, our streamlined structure allows us to quickly pursue new ideas and opportunities without the bureaucratic delays,” Dato’ Victor said.
However, this agility comes with the challenge of limited resources. “We don’t wield the same strength in terms of funding and manpower, which can impact the scale and speed at which we implement new initiatives,” he acknowledged.
Despite these limitations, TOP has positioned itself to compete and thrive among industry giants. “People have always been a core element of our business success,” Dato’ Victor stated.
“We form strategic partnerships with leading technology providers, industry experts, and local governments, enhancing our capabilities and extending our reach,” he added.
The Growing Demand for Electric Batteries
The demand for raw materials necessary for green technologies, particularly electric batteries, has surged in recent years. “Between 2022 and 2023, we saw a 40% increase in demand for EV batteries. The mining industry is responsible for supplying metals like lithium, cobalt, nickel, graphite, and bauxite,” Dato’ Victor said.
This shift towards electric batteries is expected to significantly benefit the environment by reducing greenhouse gas emissions and decreasing fossil fuel dependence.
“However, the journey towards a green economy requires a comprehensive transformation of our economic systems and individual mindsets,” Dato’ Victor noted.
Land Rehabilitation and Future Plans
TOP International is committed to rehabilitating land affected by mining activities.
“Our goal is to leave each mine site better than when we arrived,” Dato’ Victor stated.
The company has implemented extensive tree planting programs and introduced the cultivation of economic crops like cashew trees, benefiting local communities.
Looking ahead, TOP’s plans for the upcoming year include strategic diversification and expansion into new territories.
“We’re particularly excited about assessing new geographical markets, including South America and other parts of Africa. These regions offer significant opportunities for sustainable development and align with our vision of creating positive impacts through responsible mining practices,” Dato’ Victor shared.
As the mining industry evolves towards greener practices, TOP International Holding, under Dato’ Victor’s leadership, is committed to demonstrating that mining can be both profitable and sustainable.
“At TOP, we believe that open communication and rigorous environmental stewardship are essential to building a sustainable future,” Dato’ Victor concluded.
With its focus on sustainability, innovation, and community engagement, TOP International is well-positioned to lead the mining industry into a new era of responsible and profitable growth.
