As a publicly traded company, we recognize the importance of good corporate governance and aim to meet or exceed best governance practices. Responsibility and oversight of key CSR and ESG issues are integrated throughout the management structure at the Board, Executive and operational levels of the Company.
Internal Governance, Policies & Standards
The Board fulfills its mandate directly and through its five committees at regularly scheduled meetings or at meetings held as required. Frequency of meetings may be increased depending upon the state of the Company’s affairs and in light of opportunities or risks which may be faced at any given time.
Click on the links below to read the Committee Mandates:
Safety And Corporate Social Responsibility (Csr) Committee
The Safety and CSR Committee is appointed by the Board to assist the Company in furthering commitments related to health and safety, environmentally sound and responsible resource development, good community relations and the protection of human rights.
The Committee, which meets quarterly, is responsible for a variety of aspects related to CSR and ESG, including the Company’s social responsibility goals, policies, and programs; the establishment of appropriate systems, standards, and procedures with respect to social responsibility; and compliance with applicable laws and standards of corporate conduct. The Committee is also responsible for overseeing risk identification, assessment and management activities taken to monitor and mitigate risks associated with social and environmental issues, including climate change. A copy of the Safety and Corporate Social Responsibility annual workplan can be found here.
Guiding Policies
Our Board of Directors has approved a number of corporate policies that are applicable across our entire business. They are designed to promote good governance by ensuring personnel at all levels of the organization are aware of their responsibilities and expectations regarding conduct and behaviour.
Torex’s Audit Committee is responsible for monitoring compliance with the Code and the Anti-Bribery and Anti-Corruption Policy and overseeing investigations of complaints made under the Whistleblower Policy.
Diversity and Governance
We believe that decision-making is enhanced through diversity in the broadest sense and have adopted practices to reflect this principle. In the context of an effective Board, diversity includes expression of thought, business experience, skill sets and capabilities. We believe that diverse skills and backgrounds help to create a business environment that encourages a range of perspectives and fosters excellence in corporate governance, including the creation of shareholder value.
The Board has determined that merit is the key requirement for Board appointment and executive and employee advancement. In identifying suitable candidates for appointment to the Board or in selecting and assessing candidates for executive positions, candidates are considered on merit against objective criteria regarding experience, education, expertise and general and sector specific knowledge and with due regard for the benefit of diversity.
Currently, our Board consists of seven directors, three of whom are female. Our Executive Team consists of seven members, three of whom are female.