CORPORATE OVERVIEW
JIC Mining Services (JIC) has always taken its responsibility as a good corporate citizen seriously. It has gone even further by putting systems and structures in place to coordinate its citizenship best-practice more efficiently and make its reporting more transparent.
Mr Jacques Roux, CEO of JICMining Services. |
The board affirms its commitment to the principles of integrity, transparency and accountability and is committed to providing timeous, relevant and meaningful reporting to all its stakeholders. It ensures that the company's business is conducted in accordance with high standards of corporate governance and with locally and internationally accepted best corporate practice. These standards are entrenched in the company's established systems of internal control by its policies governing corporate conduct, with particular emphasis being placed on the qualitative aspects of corporate governance. |
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The directors and JIC's ManCo endorse the Code of Corporate Practices and Conduct (the Code) set out in the second report of the King Committee on Corporate Governance (King 2) that was released in March 2002. The key principles underlying the King recommendations as contained in the Code are reflected in the company's corporate governance structures, which are reviewed from time to time to take into account organisational changes and international developments. Through this process of review the directors seek to ensure that the company's business is managed on an ethical basis in accordance with prudently determined risk parameters and in conformity with internationally accepted standards.
Mr Gert van den Berg CFO of JIC Mining Services. |
The directors are responsible for the preparation of the annual financial statements and related financial information that fairly present the financial position of the company and the results of its operations and cash flows. The annual financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) and its interpretations adopted by the International Accounting Standards Board (IASB) as well as the requirements of the Companies Act of South Africa. These financial statements incorporate full and responsible disclosure and are based on appropriate accounting policies that have been consistently applied, except where otherwise reported, and which are supported by reasonable and prudent estimates and judgements. |
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The external auditors are responsible for reporting on these financial statements in conformity with statements of South African Auditing Standards and in the manner required by the Companies Act in South Africa.
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Commitment to best-practice As part of JIC's sustainability strategy, it is continuously revising its policies to ensure that all staff is aware of their governance and good citizenship responsibilities. This has led to a new risk management policy, stakeholder engagement approaches and an updated Code of Conduct. |
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Commitment to human rights
JIC respects the human rights of all those it deals with in the course of its operations and its guiding principles are built on a common understanding of fundamental human rights as proclaimed by the Universal Declaration of Human Rights. We respect the freedom and equal dignity of all people as well as their right to freedom of association, join trade unions and just and fair remuneration. It also provides adequate protection for health, safety and well-being, ensures reasonable working hours and periodic holidays with pay, precludes any use of slavery or child labour and acknowledges its duties to the community.
JIC's human rights philosophy is built on the following cornerstones:
- Equal pay for equal work,
- The right to a safe and healthy working environment
- The right to privacy and
- Freedom of religion.
JIC expects its suppliers to abide by these principles as well.
