Access our governance practices, financial and operational performances, management procedures, and learn how we advance as a natural resource development company committed to enhancing communities nationwide.

Enterprise Risk Management Manual

The Company adopts a risk philosophy aimed at enhancing shareholder value by sustaining competitive advantage, managing risks, and enabling the pursuit of strategic growth opportunities with greater speed, skills and confidence over its competitors.

To put this philosophy into action, the Board, through its Board Risk Oversight Committee, adopted an Enterprise Risk Management (ERM) system that ensures all business risks are identified, measured and managed effectively and continuously within a structured and proactive framework. The Company’s ERM is based on the Committee of Sponsoring Organizations of the Treadway Commission-ERM framework. Values and standards of business conduct and ethics are important elements of the internal environment for risk management.

Enterprise Risk Management Program

The Board, through its Board Risk Oversight Committee, has responsibility for overseeing risk management within the Company. Assisting the Board is the Chief Risk Officer (CRO) who, in turn, is supported by the Risk Management Committee. The Risk Management Committee is responsible for ensuring that all significant risks are managed adequately. The Company CRO reports significant risks and related risk strategies to the Board Risk Oversight Committee and the status of the risk management initiatives on a regular basis.

In addition to the risk management teams, a cross-functional group composed of personnel with technical, financial, and legal expertise review the Company’s compliance with mining laws and regulations. The Internal Auditor reports to the Audit Committee, the results of the review of the effectiveness of risk management strategies and action plans adopted by management.

Corporate Governance Policies

The Company’s corporate governance principles, structures and processes are established and articulated in two fundamental policies: The Manual on Corporate Governance (CG Manual) and the Code of Business Conduct and Ethics. These policies are responsive to the Company’s operations, business environment and laws, rules and regulations applicable to the Company. As part of Board oversight, the Company’s corporate governance policies and their effectiveness are reviewed on a periodic basis to ensure that they continue to be compliant, appropriate and effective.

The CG Manual institutionalizes the principles of good corporate governance in the entire organization and embodies the framework of rules, systems and processes that governs the performance by the Board and Management of their respective duties and responsibilities to the shareholders and other stakeholders.

Pursuant to the principles embodied in the CG Manual, the Company has adopted the following Corporate Governance Policies: