Implementation of the World Gold Council's RGMPs

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.

**ENDS**

 For further information please visit  www.hummingbirdresources.co.uk  or contact:

Daniel Betts, CEO Thomas Hill, FD Anthony Kocken, COO Edward Montgomery, CSO & ESG	Hummingbird Resources plc	Tel: [phone]
James Spinney Ritchie Balmer	Strand Hanson Limited Nominated Adviser	Tel: [phone]
James Asensio Thomas Diehl	Canaccord Genuity Limited Broker	Tel: [phone]
Bobby Morse Augustine Chipungu James Husband	Buchanan Financial PR/IR	Tel:  [phone]

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.

 

END

 

 

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