2012 Annual Report (2 April 2013) - Grange Resources

2012 ANNUAL REPORT
25
PAGE
The Committee meets at least three
times a year and at least one of these
meetings will be at site and incorporate an
inspection of the operations. The heads of
Company operations are invited to attend
all Committee meetings.
Committee of Independent
Directors
During the year a special purpose
Committee of Independent Directors
operated to consider and approve
pricing and off-take negotiations with
the Company’s major shareholder. The
Committee met regularly and was chaired
by independent director Mr Neil Chatfield
and was comprised of only directors who
were independent of the Company’s major
shareholders. In addition to Mr Chatfield
the other Committee members were Mr
John Hoon and the Managing Director.
On 19 November 2012, the Company
announced that agreement had been
reached with its major customer Jiangsu
Shagang International Trade Co. Ltd
(“Shagang”), to revise the annual off-take
tonnage and the pricing mechanism
applying to its iron ore pellet sales
agreement for Savage River production.
INDEPENDENT
PROFESSIONAL ADVICE
AND ACCESS TO COMPANY
INFORMATION
All Directors have the right of access to
all relevant Company information, to the
Company’s executives and, subject to
prior consultation with the Chairman, may
seek independent professional advice
concerning any aspect of the Company’s
operations or undertakings at the
Company’s expense.
CODE OF CONDUCT
The Board acknowledges its responsibility
to set the ethical tone and standards of
the Company. Accordingly it has clarified
the standards of ethical and professional
behaviour required of Directors, employees
and contractors through the establishment
of a Code of Conduct.
The Code of Conduct requires all
Directors, employees and contractors to
conduct business with the highest ethical
standards, including compliance with
the law, and to report or avoid conflict
of interest situations. Compliance with
the Code of Conduct is mandatory with
breaches taken seriously. A copy of
the Code of Conduct is located on the
Company’s website.
DIVERSITY
Philosophy and Policy
Grange recognises that our employees
are our most valuable resource and the
means by which we will achieve safe,
sustainable, cost effective production.
Diversity is one of many elements which
helps create sustainable value for our
shareholders. Grange takes a broad and all
encompassing view of diversity. Diversity
is about accepting, respecting and
understanding that each person is unique.
In late 2011 the Board approved a
Diversity Policy. The policy highlights that
an individual’s differences can be along the
lines of race, cultural background, gender,
sexual orientation, socio-economic status,
age, physical abilities, religious beliefs,
political beliefs or other ideologies. Diversity
can also include an extensive range of
individual characteristics and experiences
such as communication styles, career
path, educational background, family
responsibilities and marital status which
may influence personal perspectives.
The policy details how Grange supports
diversity in its work place. This includes:
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Undertaking recruitment of employees
at all levels from as diverse a pool of
qualified candidates as reasonably
possible;
Recruiting and selecting on the basis of
merit (skills, qualifications, abilities and
achievements);
Providing fair and equal access to
employees so that no one person or
group of people is treated any less
favorably or more favorably than others;
◆ ◆ Providing a positive and safe work
environment that promotes job
satisfaction and one in which all
employees feel they are valued,
treated fairly and recognised for their
contribution;
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Treating all employees fairy and with
respect and dignity as detailed in the
Company’s values and the Code of
Business Ethics and Conduct and Fair
Treatment Policy;
Maintaining a comprehensive range
of contemporary policies as part of
the “Grange Cares” program covering
recruitment, behaviour at work, fair
treatment, performance as well as
training and personal development;
Reinforcing a performance oriented and
merit based organizational culture in
which remuneration practices reward
and retain employees equally based on
performance and potential regardless
of gender;
Providing training and personal
development plans to maximise safety
awareness, job performance and
productivity, and the opportunity for
promotion;
Complying with anti-discrimination and
equal employment legislation;
Initiating and supporting actions in our
communities which foster diversity and
equal opportunities; and
Integrating Board approved diversity
targets into business and workforce
planning.