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Sustainability Policy Framework

Sustainability Policy Framework outlines Kentor Gold’s sustainability approach through its commitments, positions and standards. Our priorities include an ongoing focus on safety and reducing occupational illnesses, continued efforts to reduce environmental impacts and to further understand how we can best work with people in our host communities to improve their livelihoods. We believe that if our business performance is abided by local legislation and rules, meets all regulatory obligations within the host country’s jurisdiction and complies with the Company’s policies and standards, we will be on the way to addressing our priority issues and making a lasting contribution to sustainable development.

Our sustainability systems are formed of Social Responsibility and Sustainability Policy, Charter, Code of Conduct, Social and Environmental Management Systems (SEMS) developed on the basis of Environmental and Social Impact Assessment (ESIA) of our projects. Kentor Gold establishes and manages a program of mitigation and performance improvement measures and actions that address social and environmental risks and impacts identified in ESIA. The management program is therefore consists of a combination of operational policies, procedures and practices designed to support the SEMS. A number of stand-alone Action Plans relevant to specific facilities and activities in addition to the Company’s broad policies and objectives are developed.

Environmental and Social Action Plans developed for certain projects serve as a critical point for IFC Environmental and Social Impact Assessment in order to meet Equator Principles and IFC Performance Standards.

Membership of the Extractive Industries Transparency Initiative (EITI) is of great importance for us to ensure that taxes and payments we produce contribute to sustainable development and poverty reduction.

 

KENTOR GOLD CHARTER

We are Kentor Gold, a diversified international explorer aimed to create long-term value through discovery and development of natural resources.

We value:

High performance to achieve best business results and increase our potential

Safety in health and environment to meet commitments to sustainable development

Integrity and respect for each other to provide for openness, trust, sharing, involvement and teamwork

Win-win relationship to conduct business mutually beneficial for all parties

To succeed we must:

Support continuously our efforts to become a high performance organization

Grow and manage high quality assets and services

Be outspoken in our communications and consistently deliver on commitments

We create real value when:

Our shareholders are gaining superior investment returns

Our customers and suppliers are benefiting from our business relationships

The communities in which we operate are valuing our contribution

Our employees accept responsibility and are fairly rewarded for results

 

Corporate Social Responsibility and Sustainability Policy

At Kentor Gold Ltd, achieving sustainable development means meeting the needs of the present without compromising the ability of future generations to meet their own needs.
The Company maintains a focus on the integration of the economic, environmental and societal aspects of the business to achieve financial success and safeguard the communities and the environments in which we operate.

We recognize that socially and environmentally responsible business practices generate greater value for our shareholders and fosters sustainable development in the communities we operate.

Leadership in social and environmental responsibility is a core value which guides Kentor Gold's model of business performance. It is an integral part of every decision made and every task performed.

We strive to gain the trust of all - our shareholders and employees, the hosting governments and communities or any other parties with whom we interact in the sustainable development of natural resources.

Kentor Gold endorses the definition of Corporate Social Responsibility proposed by the World Bank:

"Corporate Social Responsibility is the commitment of businesses to contribute to sustainable economic development by working with employees, their families, the local community and society at large to improve their lives in ways that are good for business and for development".

Kentor Gold established its approach to social responsibility on the following five pillars:

• Ethics

  The Code of Conduct of Kentor Gold requires business to be conducted in-line with the ethical standards set out in the Code and in compliance with all applicable laws and regulations. We are committed to implement effective and transparent engagement, communication and independently verified reporting arrangements with our stakeholders. We strive to act as a responsible corporate citizen and provide our expertise to help engage in constructive dialogue and informed discussions on the issues important to us - the mining industry and the communities in which we live and work.

• Employees

  Kentor Gold adheres to developing a work environment in which all employees are valued and respected. We uphold fundamental human rights, respect cultures and customs and ensure safety and non-discrimination in the workplace. We evaluate our employees according to their job-related skills, qualifications, abilities and aptitudes only, and denounce the use of forced, compulsory and child labor. We encourage accountability and constructive engagement of employees on issues of mutual concern including improvement of safety and work conditions as well as our efficiency and our business. We fairly remunerate our employees for their contributions, provide meaningful performance feedback to them and offer them professional development opportunities.

• Health and safety

  Kentor Gold acknowledges that the health and safety of its employees and the community is of paramount importance for successful business performance. Our rigorous health and safety programs are consistent with the legislation, associated regulations and codes of practices of the jurisdictions in which we operate. All employees and contractors are expected to work in compliance with health and safety rules and requirements for their own benefit and for the benefit of their colleagues, families, communities and our business. Kentor Gold's focus on continuous safety improvement ensures that the occupational health and safety of employees, contractors and visitors is the Company's highest priority.

• Environment

  Excellence in environmental performance is essential to Kentor Gold's business success. The Company maintains its commitment to operate in compliance with all applicable laws and regulations. We will develop company-wide standards and build systems to identify, assess and manage environmental risks. These will apply at each stage of exploration, development, operation and closure, as well as in acquisition and divestment evaluations, to achieve continuous improvement in environmental performance. We will obtain assurance on the implementation of our environmental policy, both internally and externally, by regular audits, reviews and reports.

• Communities

  Kentor Gold is committed to contribute to the social, economic and institutional development of the communities in which we operate. We interact with local residents, governments, non-governmental organizations, international agencies and other interested groups to facilitate beneficial and long-term resource development. We encourage open and constructive dialogue and interaction with all stakeholders in order to keep them informed of our business activities. We also encourage partnerships with governments and non-governmental organizations to develop programs in areas such as community health, education, local business development.

 

FIVE PILLARS OF SOCIAL RESPONSIBILITY AND SUSTAINABILITY POLICY

 

Ethics

Policy Statement

The Code of Conduct of Kentor Gold requires business to be conducted in-line with the ethical standards set out in the Code and in compliance with all applicable laws and regulations. We are committed to implement effective and transparent engagement, communication and independently verified reporting arrangements with our stakeholders. We strive to act as a responsible corporate citizen and provide our expertise to help engage in constructive dialogue and informed discussions on the issues important to us - the mining industry and the communities in which we live and work.

Our approach

Building positive stakeholder relationships reflects our Charter values which include integrity and respect for each other and win-win relationships in all business activities. The Code of Conduct applies standards for appropriate ethical and professional behavior for all employees and Directors working for Kentor Gold Limited and/or its subsidiary companies. It sets out the fundamental values, which form the basis of, and underpin all of the Company's business relationships. It states that Kentor Gold will:

• pursue its goals through safe work practices;
• conduct its activities honestly and ethically;
• treat people with respect and dignity

All Kentor Gold employees are accountable for acting in line with our requirements for business conduct. Contractors, consultants and partners working with or for us are also required to be informed of, and act in accordance with our requirements. Wherever we operate we will comply with applicable laws, regulations and other requirements to which we are committed.

Our risk management approach considers bribery issues including practices such as bribery, fraud, extortion, collusion, harassment and conflict of interest. We recognize and work actively to address the risk that corrupt activities may be undertaken by management, employees or third parties, such as suppliers and customers.

To provide transparency of taxes and payments made on certain projects Kentor Gold will report under the Extractive Industries Transparency Initiative to show its contribution to the country’s economic and social development.

 

 

Employees

Policy Statement

Kentor Gold adheres to developing a work environment in which all employees are valued and respected. We uphold fundamental human rights, respect cultures and customs and ensure safety and non-discrimination in the workplace. We evaluate our employees according to their job-related skills, qualifications, abilities and aptitudes only, and denounce the use of forced, compulsory and child labor. We encourage accountability and constructive engagement of employees on issues of mutual concern including improvement of safety and work conditions as well as our efficiency and our business. We fairly remunerate our employees for their contributions, provide meaningful performance feedback to them and offer them professional development opportunities.

Our approach

We are committed to developing a diverse workforce and providing a work environment in which every employee is treated fairly and with respect and has the opportunity to contribute to business success and realize their potential.
Employment terms and conditions must comply with Kentor Gold Code of Conduct and the Charter. Also, Kentor Gold is abided by the local Labor Code and other relevant legislation regulating labor relationships. We also take care of the further career promotion through supporting professional development programs for our employees.
We appreciate and encourage long-term employment and collaboration with our people motivating them to continue their valuable contribution to the work of Kentor Gold, exercising talents and stretching capabilities with Kentor Gold.

 

 

Health and Safety

Policy Statement

Kentor Gold acknowledges that the health and safety of its employees and the community is of paramount importance for successful business performance. Our rigorous health and safety programs are consistent with the legislation, associated regulations and codes of practices of the jurisdictions in which we operate. All employees and contractors are expected to work in compliance with health and safety rules and requirements for their own benefit and for the benefit of their colleagues, families, communities and our business. Kentor Gold's focus on continuous safety improvement ensures that the occupational health and safety of employees, contractors and visitors is the Company's highest priority.

Our approach

Health and safety are values which are not compromised. We will strive to exceed the minimum standards of local regulation requirements and codes of practice. The Health and Safety Management Plan of projects specifically provides for company standards for construction, pre-commissioning, commissioning, operation and maintenance activities by Kentor Gold, subsidiary personnel and contractors. Kentor Gold conducts regular audits of existing workplaces and will continue to identify hazards, assess risks and instigate appropriate control measures. Constant monitoring and review of the procedures keeps the process working effectively, risks managed and control measures implemented in line with IFC Performance Standards.

Responsibility for hazard and risk identification and risk management is assigned to all levels of company management and employees generally. Risk management philosophy is based on the principle of reducing risk to a level that is “As Low As Reasonably Practicable” (ALARP). It is determined by comparing with and considering of:

Design specifications
Best practices
Lessons learned
Statutory requirements
Codes of practice
International standards

Safety Task Assessment, Job Hazard Analysis or Hazard and Operability Studies will be applied where relevant. The company has also developed Spill Response Plan, Emergency Response Plan to prevent and mitigate such risks.

 

 

Environment

Policy Statement

Excellence in environmental performance is essential to Kentor Gold's business success. The Company maintains its commitment to operate in compliance with all applicable laws and regulations. We will develop company-wide standards and build systems to identify, assess and manage environmental risks. These will apply at each stage of exploration, development, operation and closure, as well as in acquisition and divestment evaluations, to achieve continuous improvement in environmental performance. We will obtain assurance on the implementation of our environmental policy, both internally and externally, by regular audits, reviews and reports.

Our approach

We develop Environmental Management System (EMS) to be included into routine management systems of our projects. IFC Performance Standards set out guidelines for the establishment and implementation of EMS which allows assessing risks and impacts and establishing management systems to minimize those impacts.

Also, we develop Environmental and Social Action Plan which serves as a critical component for an IFC requirements to ensure that continued improvement is achieved in all aspects of the projects and that the IFC Performance standards and Equator Principles are met.

Environmental Management System takes the following format:

• Baseline conditions: documentation evidencing the pre-existing environmental conditions as identified in the ESIA.
• The identification of potential environmental impacts based on a register of emissions, discharges, etc.
• The definition of environmental standards and quality objectives.
• The definition of control systems for limiting the impacts of the identified emission/discharges to ensure compliance with standards.
• The specification of an environmental monitoring program to confirm and demonstrate the efficiency of control measures.
• Development of a progressive rehabilitation plan for our project sites.

Key elements of the EMS are defined in the Environmental Management Plan which is focused on practical control measures to limit potential environmental impacts at construction and pre-commissioning and on monitoring the efficiency of these control measures.

 

 

Communities

Policy Statement

Kentor Gold is committed to contribute to the social, economic and institutional development of the communities in which we operate. We interact with local residents, governments, non-governmental organizations, international agencies and other interested groups to facilitate beneficial and long-term resource development. We encourage open and constructive dialogue and interaction with all stakeholders in order to keep them informed of our business activities. We also encourage partnerships with governments and non-governmental organizations to develop programs in areas such as community health, education, local business development.

Our approach

Our long-term success depends on our ability to build relationships and work in a collaborative and transparent way with business partners, governments, NGOs and host communities. Engaging in a respectful and culturally appropriate manner with our key stakeholders is a vital part of a successful relationship with our host communities.
Kentor is committed to implement a Community Relations Management System to manage its relationships with host communities and contribute to their sustainable development.

All operations must have a community relations plan which includes a risk-based baseline community assessment, socio-economic impact assessment, stakeholder identification and analysis, consultation and community development program. The plan must be developed with input from community stakeholders.

Community development programs must work according to transparent, publicly available guidelines that clearly describe the program’s priorities, focus areas and decision-making process. Commitments made to support community development programs must be documented including instances where development projects do not proceed.

Mechanisms to address stakeholder grievances and concerns are developed. Operating sites must maintain a register and respond to concerns, complaints and relevant external communications.