At Myanmar Yang Tse Copper Limited we realize that it is inevitable that each of our lives will be affected by crises at one time or another. On a micro scale, our individual reactions to crisis situations have direct influence upon ourselves, families, friends, and the MYTCL organization in which we are employed. From a macro perspective, the decisions of management leaders, employees, as well as contractors during crisis affect all of our people. These decisions can have direct bearing upon individual health, safety, and in the extreme case, survival.


Virtually no organization, irrespective of its size, nature of business or location is immune from a crisis situation. Emergencies can arise at any time, in many forms and from many causes, but the effect is always the same... damage to people and property. Planning for emergencies must be accomplished in much the same way as an effective organization plans for its business strategies... as far in advance as possible with the objective to minimize losses. Profit comes from restoring business back to "normal" within the shortest time-frame practicable. How quickly this occurs is directly related to the effectiveness and abilities of an organization's managers under emergency conditions, and how well the employee work-force has been prepared for any emergency, be it a snake-bite or a flat tire.


Contemporary management theory supports the debate that managerial style should be dependent upon the interaction between people and situations. Management styles that work in relatively stable environments may however be ineffective or dysfunctional in dynamic, high-stress emergency situations. It is therefore a mandate for the Operations Management of Myanmar Yang Tse Copper Limited to endorse effective crisis managers into becoming highly competent in safety dynamics and problem-solving abilities. Emergency procedures are reinforced and appropriate knowledge is learned and shared among key individuals of MYTCL, allowing the most valuable and efficient utilization of all resources to be accomplished.


A program has been developed for the improvement of crisis management skills for the administration levels of Myanmar Yang Tse Copper Limited and filters down through an Integrated Management Plan for each and every employee of MYTCL. Standard Operating Procedures (SOP) have been created, developed over the years and implemented specifically to adhere to each department's individual needs.


Our strategy in developing these SOP programs was to combine exercises and presentations, designed to provide skills and knowledge, into a coordinated approach that would be utilized as the heart of the emergency and safety programs of Myanmar Yang Tse Copper Limited, allowing a dynamic combination of techniques to be activated in unison. The programs are modeled after actual past or potential emergency situations, as well as integrating international standards of expertise. Annually they are reviewed and improved upon according to our ever-changing environment.

 

Strategic Environmental Stewardship

mytcl environmental system

CONSERVE THE PRESENT CONDITION OF THE ENVIRONMENT AND NATURAL RESOURCES
OBSERVE THE CAUSES OF ENVIRONMENTAL CHANGE
MITIGATE THE IMPACTS OF ENVIRONMENTAL DETERIORATION

Over the past 5 years, the S&K Project has continued to strive towards maintaining a balanced sustainability of economic success, environmental value and social liability. MYTCL has raised the bar in terms of quality of systems, and communication with villages that may be directly or indirectly impacted by the mining activities. This undeniably ascertains that developing long-term reciprocated and beneficial relationships between the Company and its key stakeholders is the key to future success.

THE MYTCL ENVIRONMENTAL MANAGEMENT SYSTEM - EMS
The Environmental Management System (EMS), integrated into Operational Management by the S&K Project, records and monitors compliance with stated environmental policies and objectives. This compliance has been demonstrated through MYTCL's Société Générale de Surveillance (SGS) certifications. The current EMS requires MYTCL to continue to establish environmental planning and to continuously monitor the environmental impact of the operations.

FOUR MAIN ENVIRONMENTAL ISSUES HAVE BEEN IDENTIFIED AT THE S&K PROJECT:
1. Acid Rock and Metalliferous Drainage (possibly released from mine-pit walls and waste dumps)
2. Dangerous Goods (hydrocarbon products, sulphuric acid and process reagents waste)
3. Land Disturbance (land disturbed by extensive operations)
4. Non-process Waste (including rubbish, paper and plastics, rubber and batteries)

In order to ensure ISO Standard 14001:2015 compliance, the following methodologies have been implemented throughout the EMS.
• Environment Management Plans (EMP) have been developed to control the environmental issues identified above, and many more. These plans are being actively monitored for potential environmental impacts.
• Results are reviewed for any trends, findings are reported and corrective measures are implemented, if required.
• Detailed Environmental Control Procedures (ECPs) have been developed and implemented based on the EMPs.
• An Environmental Emergency Response Plan has been established, practiced and basic training is given to employees of all departments.
• Environmental Impact Assessments are conducted for new MYTCL projects.
• A technology transfer program has been developed and environmental awareness training is on-going on and off site.
• All employees are trained to respond quickly and effectively to any environmental impacts.
• All environmental documents are of high quality. Records are well stored, maintained and are easily accessible. Documents are reviewed and updated to ensure continuous improvement.

COMPLIANCE & CONFIRMATION BY 3RD PARTY
In order to maintain the status as a world-class mine, the S&K Project has monitored the effectiveness of its Environmental Management System by having its performance audited regularly. The SGS auditors from Australia, Singapore and Thailand conduct an audit of the MYTCL operations for certification in the ISO 9001, ISO 45001, and ISO 14001 in the middle and at the end of each year. SGS Re-Certification Audit commenced in June of 2019, and all 3 certifications were revalidated until 2022. Internal audit teams formed with MYTCL personnel, and professionally certified for auditing by SGS training staff, are responsible for completing internal audits on a quarterly basis.

ENVIRONMENTAL IMPACT MANAGEMENT PLANS
Achieving both sustainability and continual improvements requires that MYTCL persistently evaluate existing environmental performances of the certified environmental management system against its environmental policies, objectives and targets for the purpose of identifying opportunities by the organisation.
Furthermore, in order to attain sound perpetual development, identify and improve environmental performance, determining the root cause and causes of non-conformance or deficiencies, and developing and implementing a plan of corrective and preventative actions are also vigorously carried out in conjunction with the operations of multifarious mining activities.
Seven key areas of environmental management are reviewed by MYTCL; namely air, water, energy, waste, land, biodiversity and compliance to incident reporting. Key Performance indicators (KPI) are used to determine where improvement and action must be taken. These KPI also evaluate the environmental conservation activities success at MYTCL. Each area has defined and globally measured attributes of environmental conservation.


The purpose in assessing MYTCL's key performance indicators is three tiered:

  • to conserve the existent condition of the environment and natural resources;
  • to observe the causes of environmental change; and
  • to mitigate the impacts of environmental deterioration.

 

Community Development

Community Development is the process of increasing the strength and effectiveness of communities, improving people’s quality of life and enabling people to participate in decision making to achieve greater long-term control over their lives.

The relationship between mining and sustainable community development

Managing risks is an essential factor of success for mining and metals companies. Many risks are financial or technical in nature but, increasingly, “softer” elements of projects (e.g. social and environmental aspects) are becoming greater risks to manage. Societal expectations of corporate social responsibility (CSR) are encouraging companies to go beyond mitigating their impacts and to actively contribute to sustainable community development in host countries and neighborhoods, in order to maintain their “social license to operate”. Community development is the process of increasing the strength and effectiveness of communities, improving people’s quality of life and enabling people to participate in decision making to achieve greater long-term control over their lives. Sustainable community development programs are those that contribute to the long-term strengthening of community viability. Often, the most sustainable beneficial legacies that community development programs around a mining and metals operation may leave are in the skills and capacities that training, employment and education programs for local people provide.

The essential element of a sustainable community development program is that it can survive without input from a mining and metals company, especially after the mining project is finished. Thus, community sustainability can be supported by mining practices that help convert one local asset, namely non-renewable natural resource capital, into other local assets, namely sustainable social, economic and environmental capital.

The role of the mining and metals industry

The mining and metals industry can play a central role in community development by acting as an influence for positive change in areas that may otherwise have little, if any, opportunity for economic and social development. This is especially true in situations where mining can be a catalyst to help build up other (non-mining) sustainable income sources in the areas where the mines are located so that communities are able to develop independently of the mine and are thus able to survive the exhaustion of the ore reserves and the closure of the mining and metals operation. An important means of achieving this is to foster dynamic linkages between communities and external partners.

During the mine life, there can be tensions involving the distribution of mining revenues in a country, between local and national levels. This arises from the fact that mineral wealth is usually vested in national governments rather than owned by people living in the mining area, and national governments may have priorities for development that differ from those of the communities neighboring the mine. For companies who see sustainable community development as a positive factor for their mining activities, however, there is a pressing need to expand the positive benefits and mitigate the harmful operational impacts in the local area, regardless of whether the central government chooses to return a proportion of royalty payments and other mining revenues to the local community. At the minimum, companies must ensure that harmful project impacts are alleviated, for example by providing job opportunities, or training leading to job opportunities, for any residents whose livelihoods are reduced by the mine’s land take. Going further, companies should act as the anchor or catalyst for broader projects that provide alternative livelihood benefits for a wide range of people, and not only for mine related businesses. This could be, for example, by guaranteeing enterprise development loans at a reduced interest rate, or by signing contracts to purchase goods during the vulnerable start-up years of local businesses. This is harder to achieve, and therefore needs to be firmly embedded in partnerships with other important development actors, such as governments and donor agencies. Encouraging central governments to invest mining revenues in the regions most affected by mining is important, but it is equally essential to work with local and regional governments on local development programs. Most governments have their own national, regional and local development plans. Emphasizing the need to build multi-stakeholder partnerships, Myanmar Yang Tse’s CSD Team implementation responds to a clear need for a systematic and objective way to quantify and agree ways to enhance mining’s economic and social contribution.

Internationally Recognised Certifications

International certifications have been awarded to MYTCL and sustained in adherence to SGS - Société Générale de Surveillance guidelines and stringent management of conformity.


• ISO 45001 Certificate relating to Occupational Health & Safety Management
• ISO 14001 Certificate for Environmental Management
• ISO 9001 Certificate relating to Quality Management


In 2019-2020 MYTCL has continued to maintain cathode quality in accordance with LME Grade A specifications, as well as sustaining a best practices international performance standard throughout operations while achieving continual improvements in value, environment, health and safety standards. The standards are published by ISO - the International Organisation for Standardization.

In December 2017, MYTCL successfully upgraded the ISO 9001 and 14001 Standards as is required for ongoing certification, to the new 2015 versions as published by the ISO organisation. In June of 2019, the ISO 45001:2018 was achieved, marking MYTCL as the first company in Myanmar, as well as the first China State Owned organisation to be awarded this certificate.

45001 2018 copper company myanmar

ISO 45001 Standard

ISO 45001:2018 is the newest standard to the ISO family, and the first time ISO has introduced a OHS standard. It exists to help all kinds of organisations put in place demonstrably sound occupational health and safety performance. It is widely seen as the world’s most recognised occupational health and safety management systems standard.
MYTCL’s focus is to use this system to promote a safe and healthy working environment by providing a framework that helps MYTCL to:
- consistently identify and control health and safety risks
- reduce the potential for accidents
- aid legislative compliance, and
- improve overall performance.
 
14001 2015 copper mining myanmar burma2
ISO 14001 Standard

The ISO 14000 family includes most notably the ISO 14001 standard, which represents the core set of standards used by organisations for designing and implementing an effective environmental management
system. ISO 14001 is voluntary, with its main aim to assist MYTCL in continually improving our environmental performance, while complying with any applicable legislation.

ISO 14001 is used by MYTCL to improve resource efficiency, reduce waste and drive down costs. Using ISO 14001 also provides assurance to MYTCL management and employees, as well as external stakeholders, that environmental impact is being measured and improved.
9001 2015 burma mining company2
ISO 9001 Standard

The ISO 9000 family of standards is related to quality management systems and is possibly the most complex of all the ISO Standards.

Focused on the business component of the organisation, ISO 9001 encourages MYTCL to develop KPI with objectives and targets that are monitored and measured on a continual basis with the intent of managing the quality of every aspect of the company's operations. Based on 7 principles and a suite of interrelated process founded on risk management, the 9001 guidelines have a primary focus on Leadership as the essential key to achieving Customer Satisfaction.

MYTCL was upgraded to a High-Level of ISO Management in December of 2018, having demonstrated a superior level of committment to the IMS through the coordination of Leadership from Top Management.

INVESTING IN HUMAN CAPITAL
The question as to who should be responsible for an employee's professional development is an easy one to answer; it is the Employer.
 
Long-term individual development is still the responsibility of the potential employee. But we at MYTCL believe that once the individual has been hired, professional development becomes the responsibility of our organisation. Although the employee was hired with a certain set of knowledge, skills and abilities, if the roles and responsibilities of the position change, and they will, MYTCL maintains a 'corporate social responsibility' to invest in our human capital. Employees are investing in MYTCL by working longer hours, by handling evolving tasks and assuming increased responsibilities. So we practice building on Human Capital as an investment for both our company, as well as for the future of our employees.
MYTCL understands the true value of professional development, culture, innovation and creativity, and also recognises the value of continuously educating our employee base. Our organisation acknowledges that by providing individual development that we will be better positioned to adapt to the rapidly changing demands of today's work environment. Incorporating professional development within the overall corporate strategy is the challenge we offer all of our employees.
Policies for the People - HR Goals for 2017-2018
 
1. Talent, Skills, and Capability needs become Global.
In 2017 - 2018 key skills will be scarce. Engineering, both electrical and mechanical, human resources and environmental sciences, human social sciences, and many technical skills are in short supply, or non-existent altogether. And unlike prior years, this problem is no longer one of "hiring top people" or "growing from within the company." Now we need to source and locate operations around the world to find the skills we need. And build talent networks which attract people around the world.
 
2. Integrated Capability Development Replaces Training.
The Training Department will begin to trend in a more educated direction as we find high-level skills short and we will begin to build a supply chain for talent. This means partnering with universities, establishing apprentice programs, creating developmental assignments, and focusing on continuous learning. MYTCL plans to place emphasis on continuous learning in 2017 with the intent of attracting the best and building internally for the future. Many of our employees are misplaced. They came into the organisation in whichever manner they could. Sometimes just getting your 'foot in the door' requires being a security guard. To us, this is a talent pool that we must begin to relocate and build together for tomorrow.
 
3. Redesign of Performance Management Accelerates.
The old-fashioned performance review is slowly going out the window. In 2017-2018 MYTCL will aggressively enforce the redesign of our appraisal and evaluation programs to focus on coaching, development, continuous goal alignment, and recognition. Heads of Departments are now learning this new approach and focusing on engaging their people and helping them perform at extraordinary levels.
 
4. Redefine Engagement: Focus on Passion and the All-inclusive Work Environment.
Engagement and retention will become a top priority. Our work environment, management practices, benefits and recognition programs, career development, and corporate mission all contribute to engagement. As we move forward to seek to attract and grow long-term employees, we will re-imagine employee engagement in a new, integrated way. And rather than survey annually during the review process, we will develop new tools that will allow us to monitor engagement continuously.
 
5. Take Talent Mobility and Career Development Seriously.
As an employer, we need to provide internal talent mobility and career growth in our own organisation. 2017 is the time to build a facilitated talent mobility strategy which includes open access to internal positions, employee assessment tools, interview guides, and leadership values that focus on internal development. It means that we must take into account the fact that we are a growing company with a sister company about to scout for talent, right next door.
Also the country of Myanmar is beginning to see its own development and growth, and certainly we will not be the only large mine within the country within a few short years. Are our managers paid to "consume talent" or "produce talent?" At MYTCL we know that the best source of skills is within our own organisation – if we cannot make internal mobility easy, good people will go elsewhere.
 
6. Redesign and Reskill the HR Function.
HR itself is changing dramatically and we need to continuously skill our own teams to maintain our relevance and value. HR research shows statistically that high-performing companies invest in HR skills development, external intelligence, and specialisation. In 2017 - 2018 if we aren't reinvesting in HR, we'll likely fall behind. HR isn't all about paperwork and filing systems... it's about training the people as well as the trainers. It's about opening the doors for development.
 
7. Innovation Comes to HR.
HR itself, as a business function, is undergoing radical change. Today's HR organisation is no longer judged by its administrative efficiency – it is judged by its ability to acquire, develop, retain, and help manage talent. And more and more HR is being asked to become 'Data-Driven', and to understand how to best manage people based on real data, not just judgement or good ideas. As a result of these changes, in 2017-2018 MYTCL will focus on innovation, new ideas, and leveraging technology to drive value in HR. This demands an integrated team, a focus on skills and capabilities within HR, and strong HR leadership.
 
8. Diversity in Employment.
MYTCL aims to attract a diverse workforce which reflects the communities in which we operate. We remain committed to respecting the various differences which exist among our people, while also recognising the benefits which come from a diverse workforce. MYTCL's policy on fairness, respect and diversity of employment guides our people on the importance of maintaining a work environment that is inclusive and offers opportunities to all people based on merit.
 
9. Casual Labourers to Contract Employee Evolution
In 2017 there will be yet again another escalation in the employment considerations for MYTCL and Casual Labourers. The Managing Director took a close look at the entire workforce and concluded that although there are more than enough employees currently hired into Contract positions in MYTCL, that sustainable education and labour assistance should be provided to our neighbouring villages. This decision prompted the hiring of candidates who were currently Casual Labourers into newly created contract positions, and will take course over the 2017-2018 year. This addition to the workforce will strengthen the future generations for MYTCL, encourage cooperation and support of the villages, and show that the MYTCL priority to take this action was in accordance to our corporate social responsibility programs.
10. Bottom Line: Engagement, Leadership and Development
At MYTCL we maintain a commitment to our employees to ensure a safe and rewarding workplace and one which also encourages their personal development. This commitment has been reinforced with enhanced operational development management, and with our improvement process to drive our culture for our people. Our leaders are given feedback on their leadership impact and how the culture is improving. This is an important aspect in how we develop our leadership and has been built into other staff development initiatives.
2017 - 2018 looks to be an exciting and critically important year for Human Resources. The economy will grow, employees will be in charge of their own career potentials, and HR's role in business success will be more important than ever. The growth that has begun will not cease through the coming years, but step by step, and milestone by milestone MYTCL will encourage, reward and share the benefits of success with our employees.
 
OUR HR GOALS FOR 2015 (New TOC Title)
1. Talent, Skills, and Capability needs become Global.
In 2015 key skills will be scarce. Engineering, both electrical and mechanical, human resources and environmental sciences, human social sciences, and many technical skills are in short supply, or non-existent altogether. And unlike prior years, this problem is no longer one of “hiring top people” or “growing from within the company.” Now we need to source and locate operations around the world to find the skills we need. And build talent networks which attract people around the world.
2. Integrated Capability Development Replaces Training.
The Training Department will begin to trend in a more educated direction as we find high-level skills short and we will begin to build a supply chain for talent. This means partnering with universities, establishing apprentice programs, creating developmental assignments, and focusing on continuous learning. MYTCL plans to place emphasis on continuous learning in 2015 with the intent of attracting the best and building internally for the future. Many of our employees are misplaced. They came into the organisation in whichever manner they could. Sometimes just getting your ‘foot in the door’ requires being a security guard. To us, this is a talent pool that we must begin to relocate and build together for tomorrow.
3. Redesign of Performance Management Accelerates.
The old-fashioned performance review is slowly going out the window. In 2015 MYTCL will aggressively enforce the redesign of our appraisal and evaluation programs to focus on coaching, development, continuous goal alignment, and recognition. Heads of Departments are now learning this new approach and focusing on engaging their people and helping them perform at extraordinary levels.
4. Redefine Engagement: Focus on Passion and the All-inclusive Work Environment.
Engagement and retention will become a top priority. Our work environment, management practices, benefits and recognition programs, career development, and corporate mission all contribute to engagement. As we move forward to seek to attract and grow long-term employees, we will re-imagine employee engagement in a new, integrated way. And rather than survey annually during the review process, we will develop new tools that will allow us to monitor engagement continuously.
5. Take Talent Mobility and Career Development Seriously.
As an employer, we need to provide internal talent mobility and career growth in our own organisation. 2015 is the time to build a facilitated talent mobility strategy which includes open access to internal positions, employee assessment tools, interview guides, and leadership values that focus on internal development. It means that we must take into account the fact that we are a growing company with a sister company about to scout for talent, right next door.
Also the country of Myanmar is beginning to see its own development and growth, and certainly we will not be the only large mine within the country within a few short years. Are our managers paid to “consume talent” or “produce talent?” At MYTCL we know that the best source of skills is within our own organisation – if we cannot make internal mobility easy, good people will go elsewhere.
6. Redesign and Reskill the HR Function.
HR itself is changing dramatically and we need to continuously skill our own teams to maintain our relevance and value. HR research shows statistically that high-performing companies invest in HR skills development, external intelligence, and specialisation. In 2015 if we aren’t reinvesting in HR, we’ll likely fall behind. HR isn’t all about paperwork and filing systems… it’s about training the people as well as the trainers. It’s about opening the doors for development.
7. Innovation Comes to HR.
HR itself, as a business function, is undergoing radical change. Today’s HR organisation is no longer judged by its administrative efficiency – it is judged by its ability to acquire, develop, retain, and help manage talent. And more and more HR is being asked to become ‘Data-Driven’, and to understand how to best manage people based on real data, not just judgement or good ideas.
As a result of these changes, in 2015 MYTCL will focus on innovation, new ideas, and leveraging technology to drive value in HR. This demands an integrated team, a focus on skills and capabilities within HR, and strong HR leadership.
8. Diversity in Employment.
MYTCL aims to attract a diverse workforce which reflects the communities in which we operate. We remain committed to respecting the various differences which exist among our people, while also recognising the benefits which come from a diverse workforce. MYTCL’s policy on fairness, respect and diversity of employment guides our people on the importance of maintaining a work environment that is inclusive and offers opportunities to all people based on merit.
 
 
During the 2014 year, MYTCL’s female participation rate was a total of 10.9% of the total workforce compared to 11.4% in 2013. We recognise that while this is a low proportion, it is consistent with the industry history of this legacy mine. Intentions to increase this strength have allowed female workers the rights to apply for many jobs not previously available to educated women. In 2015 there will be a strong development in the environmental areas that may have a positive impact on the female population of the workforce.
9. Casual Labourers to Contract Employee Evolution
In 2015 there will be yet again another escalation in the employment considerations for MYTCL and Casual Labourers. The General Manager took a close look at the entire workforce and concluded that although there are more than enough employees currently hired into Contract positions in MYTCL, that sustainable education and labour assistance should be provided to our neighbouring villages. This decision prompted the hiring of candidates who were currently Casual Labourers into newly created contract positions, and will take course over the 2015 year. This addition to the workforce will strengthen the future generations for MYTCL, encourage cooperation and support of the villages, and show that the MYTCL priority to take this action was in accordance to our corporate social responsibility programs.
 
 
10. Bottom Line: Engagement, Leadership and Development
At MYTCL we maintain a commitment to our employees to ensure a safe and rewarding workplace and one which also encourages their personal development. This commitment has been reinforced with enhanced operational development management, and with our improvement process to drive our culture for our people. Our leaders are given feedback on their leadership impact and how the culture is improving. This is an important aspect in how we develop our leadership and has been built into other staff development initiatives.
2015 looks to be an exciting and critically important year for Human Resources. The economy will grow, employees will be in charge of their own career potentials, and HR’s role in business success will be more important than ever. The growth that has begun will not cease through the coming years, but step by step, and milestone by milestone MYTCL will encourage, reward and share the benefits of success with our employees.

MYTCL recognizes that good corporate governance is fundamental to being a sustainable business. Our corporate governance is the system by which the company is directed and managed. It is the framework of rules, relationships, systems and processes which reinforce MYTCL's long established values and behaviours and the way we do business. It is also the framework within which the MYTCL board of directors is accountable to stakeholders for the operations, performance and growth of the company and how the risks of the business are identified and managed.

The directors of MYTCL are committed to ensuring that the company maintains an effective system of corporate governance and that good corporate governance is an integral part of the culture and business practices of MYTCL.

VIP with BOD

VIPs visit to MYTCL Sabetaung and Kyisintaung in 2013: Board of Directors are 3rd and 4th from left; Mr Zhang Dong Song and Mr Geng Yi; and 3rd from right is Mr Zhang Xiang. President of Wanbao Mining is 5th from left, Mr Chen Defang.

 

Code of business conduct and ethics

The MYTCL board has endorsed a Code of Business Conduct and Ethics that formalises the longstanding obligation of all MYTCL people, including management, to behave ethically, act within the law, avoid conflicts of interest and act honestly in all business activities.

MYTCL's Code of Business Conduct and Ethics reinforces the company's commitment to giving proper regard to the interests of people and organisations dealing with the company. Each MYTCL person is required to respect and abide by the company's obligations to employees, stakeholders, customers, suppliers and the communities in which we operate.

In addition, the board has adopted specific policies in key areas, including trade practices; safety, health and the environment; fairness, respect and diversity in employment; capital investment; dealing with price sensitive and other confidential information; privacy and indemnification of employees.

MYTCL employees are required to sign a Conditions of Employment contract of compliance, signifying that they have read and will comply with the Code of Business Conduct and Ethics and are not aware of any beaches of that policy.

 

Values

MYTCL's values reflect the company's commitment to sustainability. They have been developed to ensure MYTCL acts as a responsible corporate citizen for the benefit of all of stakeholders.

 

Risk Management

MYTCL has a sound system of risk oversight and management, and internal control.

There are many risks involved with the mining industry and within the Republic of the Union of Myanmar where MYTCL operates.

MYTCL has in place limits and a range of policies and procedures to monitor the risk in its activities and these are quarterly reviewed by an internal audit committee, as well as bi-annually during SGS audits. MYTCL's Risk Management Policy sets out the framework for risk management, internal compliance and control systems.

There are several layers that assist in ensuring the appropriate focus is placed on the risk management framework.

The Risk & Audit Committee reviews and reports to management and the board of directors in relation to the company's internal control structure, risk management systems and the internal and external audit functions. The Safety, (Health) & Environment Department reviews and reports to management and to the board on the management of the company's safety, health and environment liabilities and legal responsibilities; and the senior management team manages and reports to the board on business and financial risks and overall compliance. Risk management is sponsored by the board, and is a top priority for senior managers, starting with the managing director.

 

The Republic of the Union of Myanmar Governance:

Mineral Industry of the Union of Myanmar is administered by Myanmar Mines Law 1994 and Myanmar Mines Rules 1996.

Department of Mines is responsible for administering the Mines according to the Myanmar Mines Law, Inspection of Mines, Mineral Conservation, Mining Related Environmental Control, safety and welfare of employees in the Mines. The Director General is the Chief Inspector of Mines under the Myanmar Mines Law and also responsible for scrutinizing applications and granting of permits delegated to the Director General under the above Law. The department is also responsible for investment promotion both foreign and local. Privatization of State-owned Mines is being carried out and private sector entrepreneurs are being encouraged to invest in the Mining Sector.

The department also functions as the planning and the data base center for implementing mineral policy laid down by the Ministry. www.mining.gov.mm

 

 

Strategy Report 2018-2019

MYTCL Logo Footter

Please publish modules in offcanvas position.