REG - Hummingbird Res. - Implementation of the World Gold Council's RGMPs

Hummingbird ResourcesAnnouncement

08/11/2021 07:05

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211108:nRSH6276Ra&default-theme=true

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
(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
(http://www.hummingbirdresources.co.uk/)  or contact:

 

 Daniel Betts, CEO                  Hummingbird Resources plc  Tel: +44 (0) 20 7409 6660

 Thomas Hill, FD

 Anthony Kocken, COO

 Edward Montgomery, CSO & ESG
 James Spinney                      Strand Hanson Limited      Tel: +44 (0) 20 7409 3494

 Ritchie Balmer                     Nominated Adviser

 James Asensio                      Canaccord Genuity Limited  Tel: +44 (0) 20 7523 8000

 Thomas Diehl                       Broker
 Bobby Morse                        Buchanan                   Tel:  +44 (0) 20 7466 5000

 Augustine Chipungu                 Financial PR/IR

 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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCQVLBBFFLEFBF