Transparent and effective governance: Managing sustainability from the top
Randgold operates in accordance with the highest standards of corporate governance. The company is incorporated in Jersey, and listed on both the London and Nasdaq stock exchanges, and it complies with the requirements of the UK Corporate Governance Code.
Our Policy Framework
Policy in Practice
Randgold’s commitment to sustainable mining is delivered through well-established policies, management systems and a rolling stakeholder engagement programme. These governance processes are designed to keep our sustainability strategy on track and to ensure sustainability remains fundamental to our corporate DNA - always considered by all staff and contractors. It also aims to drive lasting, mutually-beneficial partnerships with all stakeholders including host countries and communities, employees and shareholders.
At the heart of Randgold’s sustainability governance is a set of policies that commit us to the highest standards of environmental and social practices. These include our code of conduct, anti-corruption compliance policy, conflict free gold policy, human rights policy, biodiversity policy and our site-specific environmental and safety polices - which align with the expectations of the ISO 14001 and OHSAS 18001 international standards respectively. All policies are available in local languages as well as English. In all our countries of operation we also have legally binding mining conventions (or mining codes) that guarantee fiscal stability, govern taxes applicable and allow for international arbitration in the event of force majeure or a dispute. Our code of conduct defines the behaviour we expect from all employees and suppliers, and includes details of our best practice approach in areas such as whistleblowing, anti-discrimination, environmental management, health & safety and conflicts of interest. The code is taught to all staff as part of their induction training and contravention of the code leads to disciplinary action and potential termination of employment. No breaches of the code occurred in 2016.
Our anti-corruption compliance policy explains our zero tolerance approach to any form of bribery or corruption, and complies with all applicable anti-corruption and anti-bribery laws, rules and regulations. This includes termination of employment for accepting any bribes or facilitation payments. The policy also sets out our commitment to undertake anti-corruption due diligence on all parties we do business with, and to include anti-corruption clauses into sub-contractor agreements. The policy also commits us to train all personnel in anti-bribery and corruption measures. No breaches of the policy occurred in 2016.
Our conflict free gold policy reinforces other policies to ensure the gold we produce is delivered in a manner that does not fuel armed conflict, fund armed groups or contribute to human rights abuses associated with such conflicts. No breaches of the policy occurred in 2016.
All our sustainability related policies are drafted to both comply with host country legislation, or where it is stronger, to follow the lead of international standards such as the IFC Performance Standards, World Bank Operational Guidelines, OECD Convention on Combating Bribery and the Voluntary Principles on Security and Human Rights. For example in 2016 an internal audit of Loulo’s safety management system was conducted against the IFC Environmental Health & Safety Guidelines (with the mine achieving a 91% compliance with the clauses).
Refer to the 2016 annual report for further details of these policies.