Sirocco Mining Inc. is committed to high standards of corporate responsibility and continues to develop company-wide operating policies, reporting systems, and governance structures that enable us to maintain such standards. Our vision of corporate responsibility is premised on eight guiding principles:
Sirocco Minerals Principles of Corporate Responsibility
Sirocco Mining Inc. is additionally a sponsor of the Lundin Foundation (www.lundinfoundation.org), the philanthropic arm of the Lundin Group of Companies. The Lundin Foundation provides risk capital and grants to organizations on the basis of a priority challenge, an innovative/ scalable solution, and an organization capable of efficiently delivering impact. To date, the Lundin Foundation has supported 32 initiatives in twelve countries where Lundin Group companies operate.
Sirocco's Board has adopted a mandate that acknowledges its stewardship responsibilities. The Board's principal responsibilities are to supervise and evaluate management, to oversee the conduct of the Company's business, to set policies appropriate for the business of the Company and to approve corporate strategies and goals. The Board is to carry out its mandate in a manner consistent with the fundamental objective of enhancing shareholder value.
In discharging its stewardship over the Company, the Board expressly undertakes the following specific duties and responsibilities: (i) approving, supervising and providing guidance to management on the Company's strategic planning process; (ii) identifying the principal risks of the Company's business and ensuring management's implementation and assessment of appropriate risk management systems; (iii) ensuring that the Company has highly qualified management and adequate and effective succession plans for senior management; (iv) overseeing the Company's communications policy with its shareholders and with the public generally; (v) assessing directly and through its Audit Committee, the integrity of the Company's internal control and management information systems; and (vi) providing for the independent functioning of the Board.
The Board has put structures in place to ensure effective communication between the Company, its shareholders and the public. The Company has established an investor relations and corporate development procedure where shareholder concerns are dealt with on an individual basis, usually by providing requested information. Significant shareholder concerns are brought to the attention of management or the Board. Shareholders are informed of developments in the Company by the issuance of timely press releases which are concurrently posted to the Company's website. Under its mandate, the Board is required to oversee the Company's communications policy. The Board monitors the policies and procedures that are in place to provide for effective communication by the Company with its shareholders and with the public generally, including effective means to enable shareholders to communicate with senior management and the Board. The Board also monitors the policies and procedures that are in place to ensure a strong, cohesive, sustained and positive image of the Company with shareholders, governments and the public generally.
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