GOVERNANCE

Financial Performance | Human Rights

 

OUR COMMITMENT TO GOOD GOVERNANCE

The United Nations lists the characteristics of good governance as participatory, consensus-oriented, accountable, transparent, responsive, effective and efficient, equitable and inclusive. It follows the rule of law. It assures that corruption is minimized, the views of minorities are taken into account and that the voices of the most vulnerable in society are heard in decision-making. It is also responsive to the present and future needs of society. 

At Fortuna, good governance starts at the Board level and permeates the organization. Our Directors are selected for their skill, experience, and commitment to good governance. The Board has determined that we require between five and eight directors, the majority of whom should be independent, to effectively manage our affairs and that the majority shall be independent. In 2019, our Board was composed of seven directors: six men and one woman. Four of the seven directors are independent.

 

Four committees of the Board oversee our governance. All committees of the Board are independent, except for the Sustainability Committee which is comprised of a majority of independent members.

Sustainability Committee

In March 2019, we established a Sustainability Committee to guide and supervise the fulfillment of our sustainability obligations across our entire business. The committee provides our board with timely reports and recommendations about sustainability matters.

Corporate Governance and Nomination Committee

This committee keeps our board informed of legal and regulatory requirements and monitors trends and best practices in corporate governance. It monitors and assesses the Board of Directors and its respective committees and assumes the role of identifying and recommending to the board any qualified individuals who could become new board members.

Audit Committee

Our Audit Committee reviews the financial information we provide to our shareholders and other stakeholders, our internal control and information systems, and monitors our compliance with laws and regulations governing our financial statements.

Compensation Committee

Our Compensation Committee recommends levels and forms of executive compensation that are competitive and motivating to attract, hold, and inspire Fortuna senior management and our directors.

For information about the current composition and independence of our Board and its committees, visit Our Governance page. Fortuna is listed on the Toronto Stock Exchange (TSX) in Canada and the New York Stock Exchange (NYSE) in the United States. As a publicly traded Canadian company, we register quarterly financial results, technical reports and other news in the Canadian System for Electronic Document Analysis and Retrieval (SEDAR). In the USA, we file the same documents and annual financial results in the US Electronic Data Gathering, Analysis and Retrieval (EDGAR) system.

 

FINANCIAL PERFORMANCE

A sound financial position allows us to create the economic value expected by our shareholders and investors and to contribute effectively to the economies of the countries and communities where we work.

We share the economic benefits from our mining business with the people and communities within the areas of influence around our operations through local employment, business opportunities for local suppliers, taxes, and royalties. 

For more information about our Financial Performance visit Financial and Quarterly Reports or visit our company listing on SEDAR.

HUMAN RIGHTS AND ETHICS

We are committed to operating honestly and ethically in all our activities and countries where we work. Our company-wide commitment to ethical conduct that respects human rights and is free of corruption and bribery is outlined in the following documents:

Code of Ethics

Our Code of Business Conduct and Ethics and Whistle-Blower Policy promotes integrity, honesty, and ethical business conduct. It applies to all directors, officers, employees and consultants of Fortuna and our subsidiaries.

Our enduring goal is to ensure that 100 percent of our employees are trained on our Code of Ethics and Anti-corruption Policy. In 2019, we achieved this goal and our target for 2020 is to maintain 100 percent by training all new employees.

Supplier Code of Ethics

Our Supplier Code of Ethics outlines our expectations that any suppliers, subcontractors, vendors and any other person that we do business with, is committed to conducting business in an ethical, legal and socially responsible manner. 

Anti-corruption Policy

Our Anti-corruption Policy provides guidance and procedures to ensure that we conduct business in an honest and ethical manner when dealing with government officials and all other parties, and in compliance with all applicable laws and regulations pertaining to bribery and corruption.

Human Rights Policy

Our Human Rights Policy affirms our commitment to respecting the human rights of all individuals impacted by our operations, including employees, contractors, the communities in which we operate and other external stakeholders. We expect our suppliers and business partners to share this commitment and to implement policies and procedures that respect human rights.

We are committed to conducting our current and future operations with the utmost respect for the human rights of our employees, communities, and other stakeholders. Our Human Rights Policy was approved by our Board in 2019 and our target is to train all employees on this policy in 2020.

Whistle-blower Channels

As part of our commitment to open communication, we have established whistle-blower channels to enable anyone to report activities that contradict our Codes or Policies to their supervisor or manager, or anonymously.

Communication with
a supervisor or manager

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