Corporate Governance

About Us

PanAust has in place, and complies with, a range of corporate governance policies and procedures.

The International Finance Corporation’s (IFC) Performance Standards on Social and Environmental Sustainability for operating projects.

The Minerals Council of Australia’s (MCA) Enduring Value* incorporating global industrial sustainability initiatives and providing guidance on the International Council on Mining and Metals’ (ICMM) Sustainable Development Framework.

*PanAust is an associate member of the MCA and a signatory to its ‘Enduring Value – The Australian Minerals Industry Framework for Sustainable Development’. The framework commits companies to upholding fundamental human rights and respecting cultures, customs and values in their dealings with people affected by their activities. As an associate member of the MCA, PanAust is committed to applying operational standards globally that are consistent with Australian operational standards, while accommodating variations as a result of cultural, geographical or environmental circumstances in Laos, Thailand and Chile.

Alignment with the ICMM’s approach to climate change.

The International Cyanide Management Code is a voluntary industry program administered by the International Cyanide Management Institute for the gold-mining industry that promotes the responsible use of cyanide; PanAust is a signatory to the Code and is certified in full compliance for the Ban Houayxai Gold-Silver Operation in Laos.

The Global Reporting Initiative (GRI) sustainability reporting framework and guidelines; PanAust reports the GRI indicators that are material to its business as determined through its risk management approach, materiality determination process and feedback from stakeholders. See PanAust’s Sustainability Reports.

The Voluntary Principles on Security and Human Rights (VPSHR); a set of principles designed to guide companies in maintaining the safety and security of their operations within a framework that encourages respect for human rights; PanAust has been a member company of the VPSHR since 2013. Click here to view the Company’s VPSHR Annual Report.

Corporate Governance Guidelines

PanAust’s Vision and Values provide a framework for business strategy, and the Company’s behaviour and culture. The Company’s code of conduct, The PanAust Way outlines the minimum standards of behaviour expected of PanAust’s directors, employees and business partners.
PanAust provides sponsorship and donations to particular programs, organisations or causes that build goodwill in operational areas and/or enhance relationships with key stakeholders. In doing so, PanAust applies the following principles to determine and prioritise sponsorship and donations.
Enterprise Risk Management Policy documents the framework, processes and procedures to be applied by PanAust in the oversight and management of material business risks.
PanAust’s approach to product stewardship focuses on the storage and transport of concentrate from mine gate to port through to the delivery of product that meets customer specifications and in-country requirements.

Precautionary Principle

PanAust applies evidence-based decision-making where practical. The Company uses its enterprise risk management process to evaluate the environmental, social and economic impacts of mining projects approved by the Board.

Environment and social impact assessments are completed prior to the development of operations and are guided by statutory frameworks with work undertaken by international consultants.

Whistleblower Service

The PanAust Whistleblower Service is a confidential and anonymous way for PanAust employees and stakeholders to report or raise concerns about misconduct at work through an independent externally operated body. PanAust’s Whistleblower Standard provides the framework for making anonymous and confidential reports through the Whistleblower Service.