TIDMHUM
RNS Number : 6276R
Hummingbird Resources PLC
08 November 2021
Hummingbird Resources plc / Ticker: HUM / Index: AIM / Sector:
Mining
8 November 2021
Hummingbird Resources plc
('Hummingbird' or the 'Company')
Implementation of the World Gold Council's Responsible Gold
Mining Principles
Hummingbird Resources plc (AIM: HUM) is pleased to provide an
update on the Company's progress in adhering to the World Gold
Council's ("WGC") Responsible Gold Mining Principles ("RGMPs" or
the "Principles").
In line with Hummingbird's path towards WGC RGMPs conformance,
the Company has successfully received an external audited assurance
report highlighting Year Two implementation and progress towards
full conformance in 2022.
Highlights
-- Launched by the WGC in September 2019, the RGMPs provide a
sustainable reporting framework that supports international best
practice in addressing key environmental, social and governance
("ESG") requirements as to what constitutes responsible gold mining
via ten umbrella principles and 51 detailed principles
-- Member companies have up to three years to fully comply with
the RGMPs and are required to obtain annual external assurance on
their performance and conformance
-- Aligned with adherence to the RGMPs, the Company has
successfully received an independent limited assurance audit report
highlighting Year Two conformance
-- Hummingbird is pleased to note that, throughout the Year Two
self-assessment and audit process at its head office and operating
site, many of the Company's existing policies, procedures,
practices, training programmes and ongoing commitments are
consistent with the RGMP requirements, including ethical conduct,
safety and health, working with communities and environmental
stewardship
-- As part of the Year Two internal assessment, the Company
completed a Gap Analysis to identify those policies, standards and
activities which are already conformed with and those that require
further additional work to achieve the September 2022 full
conformance deadline
-- Hummingbird is committed to operating responsibly for the
benefit of all stakeholders and remains on track to achieve full
WGC RGMPs conformance by the September 2022 deadline
Chief Strategy and ESG officer Edward Montgomery commented:
"Adopting the WGC RGMPs is a key part of Hummingbird's strategy
for building a long term, sustainable mining company. Meeting these
requirements demonstrates a high standard of ESG performance, which
is essential for the Company's social licence to operate in the
countries and communities we engage with and work in.
As a result of the auditing process, the Company have
benchmarked, and in some cases improved, our practices, which
include systems and policies related to the full spectrum of ESG
requirements for the business. Implementing the RGMPs enables
Hummingbird to evidence a greater level of accountability and
transparency, in line with the increasing expectations of our
stakeholders.
We are pleased with the progress made so far and the steps being
taken to improve our management systems and responsible business
protocols and practices. Our operations have significant potential
to provide positive socio-economic impacts on our host communities,
and we are confident of our continued progress towards full RGMP
compliance by September 2022."
Background on the RGMPs
In September 2019 the World Gold Council launched the RGMPs to
provide a sustainable reporting framework that supports
international best practice in addressing key ESG requirements as
to what constitutes responsible gold mining via ten umbrella
principles and 51 detailed principles. Member companies have up to
three years to fully comply with the RGMPs and are required to
obtain annual external assurance on their performance and
conformance.
Hummingbird is committed to operating responsibly with strict
ESG protocols and practices. To further demonstrate that
commitment, Hummingbird joined the WGC as a member company in June
2020. On 4 September 2020, the Company declared its intention to
adopt the ten umbrella principles and 51 detailed principles of the
RGMPs and work towards the September 2022 full conformance
deadline.
Timetable to RGMP completion and compliance
In the first and second years, RGMP implementing companies must
report their progress towards full conformance with the Principles.
This reporting comprises:
Year One - Readiness review
Self-assessment to determine conformance with the RGMPs for all
operations within the reporting boundary. The Hummingbird Board
pledged to implement the WGC RGMPs as the organising framework for
ESG issues.
An independent limited assurance report was issued by RSM Risk
Assurance Services LLP confirming Hummingbird's conformance with
the RGMPs' Year One requirements.
Year Two - Internal assessment
Working group established to undertake a Gap Analysis between
the RGMPs and current policies and practices and statement of
progress on developing internal systems and processes to conform
with the Principles.
An independent limited assurance report has been issued by RSM
Risk Assurance Services LLP confirming Hummingbird's conformance
with the RGMPs' Year Two requirements as detailed in this
release.
Year 3 - Third party assurance on full compliance
Roadmap to addressing outstanding RGMPs, including commissioning
of external consultants and implementation of all final action
areas. The Company is already working to address the audit findings
and ensure that we will be aligned with RGMP requirements at the
end of Year 3.
Year Two gap analysis activity
Hummingbird conducted a gap analysis in 2021 to identify those
policies, standards and activities which already conform to the
RGMPs, as well as those areas that will require additional work
before being able to reach conformance of the RGMPs by September
2022, including:
-- Development and documentation of several policies, systems,
processes and controls, with implementation plans to be undertaken
to close out materiality gaps as identified
-- Disclosure of information that helps external stakeholders
understand how conformance with the RGMPs is achieved
-- Reporting of instances or events which have given rise to a
situation of non-conformance and the corrective steps that will be
taken to remedy the situation
-- Independent assurance over the process to ensure stakeholder
confidence and credibility in the process and conclusions
Findings of analysis and strategy and initiatives to address all
principles
Hummingbird is pleased to report that, throughout the
self-assessment process at its head office and operating site, many
of the existing policies, procedures, practices, training
programmes and, ongoing commitments are consistent with the RGMP
requirements, including ethical conduct, safety and health, working
with communities and environmental stewardship.
As an outcome of the self-assessment, Hummingbird is committed
to addressing the following significant areas, amongst other
actions:
-- Principle 2.3 requires all RGMPs implementing companies to
regularly and systematically conduct due diligence to identify
human rights, corruption and risks associated with their activities
and in their supply chain with the intention of preventing adverse
impacts
-- Principle 2.4 requires that all RGMPs implementing companies
conduct impact assessments that involve substantive environmental
components, socio-economic (including human rights where relevant)
and cultural elements, and ensure that these are periodically
updated
-- Principle 10.4 requires all RGMPs implementing companies to
work to improve the efficiency of their energy use and to minimise
greenhouse gas emissions intensity
Based on the self-assessment that has been undertaken in
September 2021, Hummingbird is confident it will meet the September
2022 WGC RGMP full compliance deadline.
Limited assurance of progress to date
Implementing companies are required to publicly disclose their
conformance with the RGMPs in the form of an Annual Report
("Report") on their implementation of the RGMPs.
This Report, comprising Year 2 implementation, summarises
Hummingbird's conformance status with the RGMPs as of 30 September
2021. The Report appendix provides a detailed RGMPs activity
table.
In conformance with the RGMPs, the Report is limited assured by
an external independent assurance provider. Please click
http://www.rns-pdf.londonstockexchange.com/rns/6276R_1-2021-11-8.pdf
for the Independent Limited Assurance Report from RSM Risk
Assurance Services LLP with further details available on the
Company's website in the responsible mining section.
**S**
For further information please visit
www.hummingbirdresources.co.uk or contact:
Daniel Betts, Hummingbird Resources Tel: +44 (0) 20 7409
CEO plc 6660
Thomas Hill,
FD
Anthony Kocken,
COO
Edward Montgomery,
CSO & ESG
James Spinney Strand Hanson Limited Tel: +44 (0) 20 7409
Ritchie Balmer Nominated Adviser 3494
-------------------------- ---------------------
James Asensio Canaccord Genuity Limited Tel: +44 (0) 20 7523
Thomas Diehl Broker 8000
-------------------------- ---------------------
Bobby Morse Buchanan Tel: +44 (0) 20 7466
Augustine Chipungu Financial PR/IR 5000
James Husband
-------------------------- ---------------------
Notes to Editors:
Hummingbird Resources (AIM: HUM) is a leading multi-asset,
multi-jurisdiction gold production, development and exploration
Company and member of the World Gold Council ('WGC'). Our vision is
to continue to grow our asset base, producing profitable ounces,
while central to all we do being our Environmental, Social &
Governance ('ESG') policies and practices. The Company currently
has two core gold projects, the Yanfolila Gold Mine in Mali and the
Kouroussa Gold Mine in Guinea. Further, the Company has a
controlling interest in the Dugbe Gold Project in Liberia that is
being developed by Pasofino Gold Limited through an earn-in
agreement.
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