Governance

Good Governance

Fostering transparency, open dialogue and collaboration with all stakeholders

Our Commitment

Teranga’s Code of Business Conduct and Ethics establishes our commitments and requirements for conducting our business at the highest ethical standards, including complying with relevant laws, rules and regulations, human rights commitments, and corporate policies. Every year, all Directors, Officers, employees, and identified contractors undergo training on the Code. Our corporate policies include our Sustainability Policy, Board of Directors Diversity Policy, Whistleblower Policy, Data Protection and Privacy Policy, Insider Trading Policy, and Anti-Corruption Policy.

 

 

Participant in the UN Global Compact

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Since 2015, Teranga has been a proud participant in the UN Global Compact, the world’s largest voluntary corporate sustainability initiative. As a participant, we ensure that our business continues to be aligned with principles on human rights, labour, environment and anti-corruption. Teranga is a past recipient of the United Nations Global Compact Network Canada Sustainability Award.

United Nations Sustainable Development Goals


Teranga proudly supports the 2030 United Nations 17 Sustainable Development Goals (SDGs). The SDGs provide a blueprint for ending poverty, protecting the environment, and promoting prosperity. Our contributions to 9 of the SDGs are featured throughout our 2019 Sustainability Report: #1 no poverty, #2 zero hunger, #3 good health and wellbeing, #4 quality education, #5 gender equality, #6 clean water and sanitation, #8 decent work and economic growth, and #11 sustainable cities and communities, and #15 life on land.

Implementing the Responsible Gold Mining Principles

 

 

Teranga is a proud member of the World Gold Council and is committed to implementing the Responsible Gold Mining Principles (RGMPs). We believe these principles reflect best practices in the governance and management of social, economic and environmental issues in gold mining, and that they will be an excellent guide for us as we continue strengthening our systems and processes. Our goal is to be fully compliant with the RGMPs at both of our operations by the end of 2022. We recognize the increasing emphasis that all stakeholders, particularly investors, are putting on environmental, social and governance issues, and we look forward to sharing the independently assured results.

 

Extractive Industries Transparency Initiative


The Extractive Industries Transparency Initiative (EITI) offers a framework for oil and gas and mining companies to report payments to governments and government-linked entities. It details revenues earned by host governments in an equally transparent way. EITI has been shown to be a critical factor in improving fiscal transparency in resource-rich countries, and EITI countries show promising results in public participation and oversight in natural resource revenue management. Teranga submits EITI reports based on our annual payments to the governments of Senegal and Burkina Faso.

Senegal has been an EITI member since 2013. In 2015 Teranga worked alongside the Senegalese government as part of a multi-stakeholder group in preparing and submitting its first EITI report. In 2018 Senegal was the first country in Africa to achieve compliance with EITI. Teranga has participated in all annual Senegal submissions.

Burkina Faso became an EITI member in 2009 and is making meaningful progress to meeting the EITI Standard. Teranga previously submitted a report for 2016 and 2017, and will submit a report for 2018 and 2019 by the end of 2020.

 

Voluntary Principles on Security in the Extractive Sector


Teranga’s security practices align with the Voluntary Principles on Security and Human Rights, as well as the United Nations Code of Conduct for Law Enforcement Officials and the United Nations Basic Principles on Use of Force and Firearms.  These references form the basis of the standard operating procedures used by all company and contracted security services. Specific policies are incorporated into training protocols to ensure that security activities are conducted safely and with respect for the human rights of local stakeholders.