Western Mines Group Limited has outlined its commitment to ethical business practices and compliance with laws and regulations in its latest corporate governance statement. The company has disclosed its values, emphasizing fair, honest, and ethical business conduct, and has committed to high standards of integrity and compliance with all applicable laws, rules, and regulations.
Material actions and disclosures
The company has a Code of Conduct available on its website, setting out the standards of behavior expected of all its employees, directors, officers, contractors, and consultants. Any breach of compliance with the Code of Conduct is reported directly to the Managing Director or Chairperson, and the Board or a committee of the Board is informed of any material breaches of the code.
Western Mines Group Limited also has a Whistleblower Policy available on its website, which sets out the procedures for reporting any material incidents. All reports are made to the Protected Disclosure Officer, who is the Chairperson of the company. The Board is informed of any material incidents reported under this policy.
Additionally, the company has an Anti-bribery and Corruption Policy available on its website. Any material incidents reported under this policy are reported to the Board. Under the policy, all Company Personnel must report any actual or suspected improper conduct or other violation of this Policy to the relevant person identified in the policy, being the Managing Director or the Company Secretary.
The company has also disclosed its process for periodically evaluating the performance of the Board, its committees, and individual directors. The Board is responsible for evaluating its performance and the performance of individual directors, involving evaluating the performance of each director against appropriate measures, including the use of external advisers if warranted.
Western Mines Group Limited has established an Audit and Risk Committee which comprises three members, all of whom are Non-Executive Directors. The committee is chaired by an independent director, and the charter of the committee is available on the company’s website.
The company ensures that any periodic corporate report it releases to the market that is not audited or reviewed by an external auditor undergoes review by the Audit and Risk Committee. The committee is responsible for reviewing, assessing, and recommending release to the Board for all financial statements and reports which are required to be publicly released.