Pembridge Resources plc is very mindful of the impact that mining operations can have on the environment and intends that any business in which it invests complies with its obligations in respect of environmental impact.
The Minto mine is subject to the rules set by the Yukon Government, which operates a transparent system, whereby all documentation submitted for approval by the mine is made publicly available on the Energy, Mines and Resources website.
Pembridge Resources plc understands that the group of stakeholders affected by a business is wider than its investors and intends that a business in which it invests should have a positive impact on its local community.
The Minto mine lies within the 4,740 square kilometres of traditional territory of the Selkirk First Nation (“SFN”), and falls within Category A Settlement Land under the Selkirk Land Claims Agreement of 1997.
The SFN community of circa 680 are based in Pelly Crossing, 35 kilometres from the Minto mine, on the other side of the Yukon River. SFN have been a self-government since 1997 and a valuable stakeholder in the Minto operations, both during exploration and production, which commenced in 2007.
Under the Selkirk Land Claims Agreement of 1997, Selkirk own the mineral and surface rights, however the agreement specifically grandfathers the mineral and other rights held by Minto.
In 1997, Minto and the SFN signed a Co-operation Agreement which, among other things, granted the SFN a net smelter return royalty on all production from the Minto Mine. The Co-operation Agreement was amended 12 years later, in 2009.
Minto is committed to building and maintaining a strong, productive and respectful relationship with the SFN. This is to ensure that both the SFN and Pembridge Resources are able to continue sharing the benefits of the Minto Mine for many years to come, and that the operations are conducted to a high environmental standard. Minto engages in various initiatives with the local communities of the mine, most notably that of the Selkirk First Nation (SFN), based in nearby Pelly Crossing.
Many members of the Pelly Crossing community have worked either for the Minto mine, or for many of the external services contracted by the mine. Minto will continue to actively encourage employment of the SFN at the mine as it goes through its next phase of growth.
Pembridge Resources plc recognises the importance of, and is committed to, high standards of Corporate Governance. At the date of this Report, and whilst the Company is not formally required to comply with the UK Corporate Governance Code, the Company will try to observe, where practical, the requirements of the UK Corporate Governance Code.
The Company will comply with the QCA Code, as published by the Quoted Companies Alliance, to the extent they consider appropriate in light of the Company’s size, stage of development and resources.
The Company is currently a small company with a modest resource base. The Company has a clear mandate to optimise the allocation of limited resources to support its development plans. As such, the Company strives to maintain a balance between conservation of limited resources and maintaining robust corporate governance practices. As the Company evolves, the Board is committed to enhancing the Company’s corporate governance policies and practices deemed appropriate for the size and maturity of the organisation.