THIS IS GOLDEN MINE PROJECTS Stakeholder engagement

Stakeholder engagement

Stakeholders play an essential role in the operations of Golden Mine Projects, representing a diverse array of interests that both influence and are affected by our business activities. Aligned with our core values of Integrity, Respect, and Responsibility, we foster relationships with our stakeholders founded on transparent, open, and productive communication.

Proactive and honest engagement with stakeholders is central to our commitment to sustaining our business and delivering lasting value to our stakeholders. This engagement focuses on cultivating trust and enabling participatory and informed decision-making. We strive to balance the interests, needs, and expectations of stakeholders with the best interests of Golden Mine Projects.

At the operational level, all of our projects and mines identify and prioritize stakeholders who have the potential to impact their operational, sustainability, or financial performance.

At a strategic level, our corporate and regional management teams execute an ongoing program of direct and indirect engagement.

Relevant outcomes from both operational and strategic stakeholder engagement are documented in our Group External Interaction & Commitment Register and conveyed through our Enterprise Risk Management process, thereby forming an integral component of the Group’s risk management efforts.

Our engagements are documented in our Integrated Annual Report and Stakeholder Report, which are accessible to the public.

Our material stakeholders

  • Workforce members
  • Communities where we operate
  • Participants in financial markets (shareholders, investors, capital providers, and analysts)
  • Government bodies (national, regional, and local) and regulatory agencies
  • Industry groups and fellow mining organizations
  • Media outlets
  • Non-governmental and community-centered organizations
  • Organized labor groups
  • External parties (business partners, contractors, and suppliers)
  • Traditional leadership figures

Governance and management

BOARD Responsibilities

The Board of Directors is ultimately accountable for the social, ethics, and transformation (SET) strategy, performance, risks, and opportunities. The Social, Ethics, and Transformation (SET) committee primarily assists the Board in this regard. SET issues are also addressed by the Safety, Health, and Sustainable Development (SHSD) and Risk committees.

SET COMMITTEE

Responsibilities

Offers supervision concerning social, ethical, security, labor, transformation, community, anti-corruption, land (in the context of society), human rights, and interactions with stakeholders. This ensures that the Company adheres to the principles of responsible corporate behavior and conducts its operations in a moral and enduring manner.

SHSD COMMITTEE

Responsibilities

Guides SHSD strategies and policies, and oversees SHSD performance in accordance with applicable laws and regulations, as well as voluntary standards and guidelines.

RISK COMMITTEE

Responsibilities

Oversees Group and operational risks, including ESG risks, by designing and recognising risks, vulnerabilities, and opportunities that the Company faces, as well as delivering risk mitigation measures.

Golden Mine Projects understands the value of governance as a business enabler, providing the framework within which we operate as an ethical organisation. The tables on this and the prior page explain how we include stakeholder relationships into our governance, strategy, business operations, enterprise risk management, and reporting processes.

CHIEF EXECUTIVE OFFICER (CEO)
Responsibilities

The CEO serves as a liaison between the board and management and is responsible for carrying out board-approved SET plans and policies.

SET-related incentives

The Group and Regional balanced scorecards include deliverables related to stakeholder reputation, such as greater interaction with investors, employees, governments, and communities. All stakeholders' engagement has risen from 2018 to 2020.

CHIEF EXECUTIVE OFFICER (CEO)
Responsibilities

Exco assists the Board by creating SET-related policies for review and approval. It carries out the Board's mandate by ensuring the Company's SET strategies and risk management plans are implemented. Exco also assesses the company's ESG performance in relation to goals and key performance metrics.

Shared value and diversity and inclusion incentives

Since 2017, all senior and middle management have been incentivized with explicit ESG targets, including host community value creation. ESG goals, including as diversity and inclusion, will receive a higher share of rewards beginning in 2021. Exco members are subject to the same incentives as the CEO.

SUSTAINABLE DEVELOPMENT AND HUMAN RESOURCES FUNCTIONS

Multidisciplinary experts from the Sustainable Development and Human Resources functions contribute to overarching SET strategies, sustainable development, shared value, stakeholder engagement, social licence to operate, diversity and inclusion, human rights performance, and ESG reporting and assurance. These Group-level operations give strategic guidance and support to the regions. The roles participate in a variety of ICMM working groups, such as community support, skills initiative, and security and human rights.

COMMITTEES
STAKEHOLDER, COMMUNITY RELATIONS, PROCUREMENT AND HR MANAGERS
ESG steering committee

EVPs for Sustainable Development, People and Organisational Effectiveness, Legal and Compliance, Investor Relations and Corporate Affairs, Business Development and Strategy, and supporting senior managers make up the committee. It intends to create the ESG Charter, which will include objectives and strategic intentions.

Stakeholder and Community Relations working group

The working group is made up of Group Vice Presidents for Community Relations and Corporate Affairs, as well as regional and operational multi-disciplinary teams for sustainable development, community relations, and corporate affairs. It facilitates the implementation of community and government relations strategies and plans, as well as providing a forum for the group to share experience and information.

Our Approach

Our approach to stakeholder engagement and relations is guided and informed by the external standards, guides and codes we have adopted, our internal policies and guidelines and commitments as well as the industrial forums we participate in.

External documents

  • AA1000 Standard for Engaging with Stakeholders
  • Transparency Initiative for Extractive Industries
  • Principles for Mining by ICMM
  • ICMM Statement on Collaborative Development
  • Performance Standards by IFC
  • Global Initiative for Reporting
  • Organization of Gold Industry Worldwide
  • Global Agreement by UN
  • Basic Rights Declaration for Humanity
  • Guiding Principles on Business and Human Rights by UN

Industrial forums and working groups

  • Global Organization for Mining & Metals
  • South African Minerals Council
  • Corporate Leadership Group South Africa
  • Mining Chamber of Ghana
  • Energy and Minerals Chamber of Western Australia
  • Western Australia's Gold Sector Association
  • National Society for Mining, Petroleum, and Energy (SNMPE) in Peru
  • Mining Council of Chile
  • National Mining Society of Chile
  • Stakeholder Relations Working Group for Gold Mine Projects

Internal guidelines, policies and documents

  • Policy for Sustainable Development Across the Organization
  • Policy for Engaging and Relating to Stakeholders Across the Organization
  • Policy for Engaging with Communities Across the Organization
  • Policy on Upholding Human Rights Across the Organization
  • Guideline for Engaging with Communities and Stakeholders

Engagement activities:

  • Direct engagement, at each operation and project, including organised debates, roundtable talks, one-on-one meetings, internal surveys, and regular contact with local communities.
  • Indirect engagement, involving the application of external norms and standards created to reflect and address social expectations.