We are pleased to present Anti-corruption laws in London Mining. This guide forms part of our key London Mining publication series which currently includes Arbitration in London , Banking security law, Disclosure and privilege, M&A law i, Joint ventures: protections for minority shareholders, Doing business and Renewable energy.
The purpose of this guide is to provide an overview of international and national anti-corruption regimes. It highlights how corporations should best approach anti-corruption compliance, transactional and third party due diligence and corruption investigations. It also examines related issues from anti-money laundering and whistle blowing regimes. For ease of jurisdictional comparison, we have arranged for each chapter to be organized according to the following headings:
TI rankings
International anti-corruption conventions and inter-governmental organizations
Anti-bribery legislation and major offenses
Facilitation payments, hospitality and gifts
Corporate liability for the acts of subsidiaries, employees and third parties
Liability of individual directors and officers
Anti-money laundering legislation
Whistle blowing legislation
We hope that this guide will provide a useful introduction to a field which has assumed a critical importance for companies, individuals and regulatory authorities alike.
We carry out thorough environmental monitoring to ensure any changes resulting from the mining operations would be quickly discovered and can be acted upon to minimise the disturbance to local habitats and communities.
We take weekly water samples at 26 sites around the concession. The sites have been chosen in collaboration with the Community Relations team to ensure that representative samples are taken with respect to possible effects on local people and their farm land. The samples are thoroughly tested for any chemical or physical changes. To date, only two samples have been shown to be influenced by our operations and we have taken the relevant actions to rectify the changes identified by the sample.
We are planning a study into the feasibility of supporting local businesses to build new accommodation in Socha, Colombia that can be leased to mine staff. Currently there is a shortage of accommodation near the mine site, so workers have to spend a long time travelling between the site and lodgings. The aim is to work together to produce a solution that benefits everyone going forward – the local businesses, our business and our people. In close coordination with government and donors, we aim to develop a skill and vocational training program to meet labour requirements for the next five years in line with our local employment policy.
We have held initial meetings with several international finance institutions and bilateral development agencies including the African Development Bank, the World Bank, UK Department for International Development (DIFD), German Technical Co-operation (GIZ) and the United States Agency for International Development (USAID), on future co-financing of projects in the countries in which we operate. This includes, for example, cofounding of research and the production of an in-depth report on Sierra Leone’s employment and skills market. This information will help us focus our community projects on developing the future of Sierra Leone in a long term and sustainable way.
London Mining is producing from its Marampa Mine in Sierra Leone and developing two other iron ore mines in Saudi Arabia and Greenland as well as a coking operation in Colombia. All London Mining's assets have deliverable production with potential for expansion. The Company listed on AIM in London on 6 November 2009. It trades under the symbols LOND.L (Reuters) and LOND LN (Bloomberg).
The guide is simply a summary of the key issues relevant to anti-corruption and is not a substitute for legal advice. If you would like to discuss any of the issues raised here, please get in touch with us.
We monitor ambient dust around the site, haul road and surrounding areas. All readings have been below international standards but dust monitoring and dampening remains an area of focus during the dry season.
We are developing a policy and management plan for occupational health for our Colombia operations. It is designed to comply with the Colombian Government’s HSE guidelines: the Guia Del Sistema de Seguridad, Salud Ocupational y Ambiente para Contratista of the Consejo Colombiano de Seguridad. We expect the plan to be completed and approved by our management in Q2 2012. The plan will include guidance on working standards relating to external and internal incidences relevant to all aspects of personal and environmental safety. There will be particular focus on risks and events specific to our Colombian operations.
London Mining made its first coal acquisitions in August 2008 as part of an overall strategy to develop a complimentary metallurgical coal supply for its iron ore production and in doing so take advantage of the robust long-term outlook for thermal coal. The Company owns 100% of London Mining Colombia, a coking coal developer in Colombia.
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