Beruflich Dokumente
Kultur Dokumente
Community
Developme
Stakeholder Organizatio Huma Labor Environme Fair Consum
nt
s nal n Practic nt Operating er Issues
Governanc Right es Practices and
e s Involvemen
t
1.
Shareholders/
Investors
2. Suppliers
3.
Government
4. Community
5. Employees
Customers
Shareholders
Organizational Governance
Upholding of Rights
The rights of all stockholders, in accordance with the Corporation Code, Articles of
Incorporation, By-Laws, and all resolutions adopted by the Board establishing and
designating classes or series of shares of stock of Philex Mining Corp.
1. Right to vote on the matters that require their approval pursuant to the relevant
provisions of the Corporation Code and the Constitutive Documents. At every
meeting of the stockholders for the election of Directors, owners of shares of
common stock of the Company are entitled to cumulative voting in accordance
with the By-Laws.
6. Appraisal right or the right to dissent and demand payment of the fair value
of their shares in the instances provided for under the Corporation Code.
The Company maintains an Investor Relations Desk, which interacts with analysts and
investors and the investment community in general. Another unit, the Public and
Regulatory Affairs Department, handles media and maintains relationships with the
public and regulatory authorities. Both these units prepare, review and disclose major
Company announcements.
Shareholder matters are handled by the Corporate Secretary. The actions done
through this medium are:
Human Rights
Right to information
The company commits to cause the timely disclosure of material information and/or
transactions that could potentially affect the market price of the Companys shares
and such other information which are required to be disclosed pursuant to the
Securities Regulation Code and its Implementing Rules and Regulations including,
without limitation, earnings result, acquisition or disposal of significant assets, off-
balance-sheet transactions, related party transactions, Board membership
changes, shareholding of Directors and Officers and any changes thereto, and
remuneration of Directors and Officers. Other
The company also provides the stock market, through the PSE and the SEC, with
essential, accurate, sufficient and timely information about the Company. It holds
investor and media briefings as regularly as practicable to update the public and
the investment community on the affairs and business of the Company.
2. Filing of Reports
The Board shall cause the filing with the Commission and the Exchange of all
written disclosures or reports on material information and/or transactions in
accordance with the Securities Regulation Code and its Implementing Rules and
Regulations and the established procedures of the Commission and the Exchange
regarding such matter.
Supplier
Organizational Governance
The Company has Vendor Relations Policy and Policy on Gifts, Entertainment and
Sponsored Travel guided by these principles:
A Risk Indicator Monitoring policy is likewise in place to monitor risk indicators that may
impact its Supply Chain Operations to avoid disruption of supply, ensure availability of
materials, and avoid delays in the provision of services or the stoppage of operations.
The Purchasing Manual contains the policies for ensuring integrity of the procurement
process. The Company has adopted a vendor accreditation policy with the objective
of ensuring that all suppliers or contractors are responsible entities, technically
competent and financially able to comply with their contractual commitments.
Government
Organizational Governance
Organizational Governance
Coordination with civil groups in decision making
Following the creation of ERCD, the company pursued a tri-sector approach for
community and stakeholder engagement. It has worked with the following groups:
1. Integrated Sewers Association
2. Loom Weavers Association
3. Credit Cooperative
4. Community Consumers Cooperative
5. Pellmell Irrigators Association
6. Informal groups and community leaders
Environment
Environmental Work Program
At every stage of every project, PMC inititated Environmental Work program to
devise a blueprint for solutions to potential environmental issues and for
progressive rehabilitation of affected parcels of land. During the operation phase,
projects include Environmental Impact Assessment Program as a key activity in
implementing the program.
Reforestation
Reforestation project that has reforested more than 1,500 hectares of denuded
lands with an annual survival rate of trees planted at 86%. Under the Nursery sa
Bawat Bakuran Program, ECRD has distributed 500,000 seedlings to host and
neighboring communities for propagation. ECRD provides training and technical
assistance and buy-back the seedlings on a later date to help residents and
communities generate additional income;
Ecological waste management program that involves the sorting out of household
wastes within the mine camp. In 1998, PMC invested in a Materials Recovery
Center (MRC) whereby biodegradable wastes undergo composting process to
produce organic fertilizers. An estimated 500 to 700 kilos of high quality fertilizer
or compost is produced monthly and being sold to organic farmers. The non-
biodegradable wastes, on the other hand, are further segregated into recyclable
and disposable materials. The recyclable materials are sold to numerous recycling
centers while the disposable wastes are brought to a controlled waste dump; and
PMC achieved its Environmental Management System (EMS) ISO 14001 re-
certification in 2015 by TUV Rheinland.
2. Storage facility. In its effort to ensure that water flowing through the rivers
is clear of sediments, the companys storage facility is designed with a
catch basin that serves as a reservoir. PMC also operates a decantation
process to filter out undesired particles from its discharged waste water.
The effluents flow through the spillway and down to the Maligaboy and
Baloy Creeks, and eventually to the Agno River in Benguet Province.
Employees
Organizational Governance
Compensation and Benefits
The Companys Compensation Philosophy/Principles are as follows:
1. Pay-for-Performance
Performance is defined as achievement of results aligned to business
objectives and behaviors, consistent with Philex Values;
Performance given more weight and importance than other pay
components;
Variable compensation tied to individual and company performance;
and
Reward those who consistently exceed performance objectives.
2. Pay for competencies and skills that are valuable to Philex;
3. Pay competitively versus local industry players and other companies; and
4. Provide a total rewards package that includes pay, benefits, employee
recognition, employee development and a work environment conducive to
high performance.
The Companys Stock Option Plan covers managers in accordance with the above
philosophies and principles. On April 27, 2011, the Companys Board approved
the 2011 Stock Option Plan (the 2011 SOP). The objectives of the 2011 SOP are
to:
i. enable qualified participants, who are largely responsible for the further
growth and development of the Philex Group of Companies to obtain an
ownership interest in the Company;
ii. to encourage long-term commitment to the Group;
iii. to motivate them to continue their efforts in contributing to the long-term
financial success of the Group; and
iv. to encourage other talents needed for the business to join the Group.
Human Rights
Right to organization
Guided by the Universal Declaration of Human Rights and International Labor
Organization (ILO) Declaration on
Fundamental Principles and Rights at
Work, PMC allows its employess to
exercise their rights to freedom of
association and collaborative bargaining.
Labor Practices
Training Skills and Development
Recognizing the importance of human capital to achieve its short and long-term
goals, the Company continues to invest in its people through various programs
and initiatives.
1. Formal Performance Review Process that discusses each employees
development plan. These plans include participation in additional training
sessions and career development programs.
Compensation package
Among the efforts to improve the existing Padcal Mines health and safety
management system is the education of and training for its employees,
accompanied by an internal review of the companys policies and procedures to
promote safety.
Customers
Organizational Governance
Fair and transparent dealings with customers. It ships all production to
two smelters (offtakers) located outside the Philippines and its relationship
with them is governed by long and short-term contracts. Representatives
of the Company and the customer meet annually to review the preceding
years activities. There are also discussions whenever a shipment is made.
Consumer Issues
Customer health and safety is important for all businesses and remains an utmost
priority for Philex Mining Corp. (PMC or the Company). In line with PMCs Code of
Business Conduct and Ethics, the Company upholds fair and transparent dealings with
its customers. All the transactions and business relationships with customers are
covered by contracts and comply with existing laws and regulations in the country. The
following are the activities conducted to ensure the health and safety of the Companys
customers.
The Company shall notify the buyer of the date of sailing confirming the
name of the vessel, weight of concentrates loaded, stowage plan and
estimated time of arrival at port of unloading with due consideration to the
suitability of weather conditions for a safe travel.
Customer Safety. To cover for any harm or damage that the shipment may
cause to the customer, an insurance policy, with an agreed upon coverage
and in favor of the customer, is secured from an internationally-recognized
insurance organization.