Mineral Resources Ltd Highlights Strong Commitment to Corporate Governance in 2023

Mineral Resources Ltd (ASX: MIN) has released its Corporate Governance Statement for the 2023 Financial Year (FY23), underlining its dedication to maintaining high standards of corporate governance. The company emphasizes a culture that values ethical behavior, integrity, and respect, all of which are fundamental for sustainable growth and shareholder value creation.

Source: Kapitales Research

Key Points:

• Commitment to Core Principles: MinRes is committed to safety, environmental responsibility, corporate governance, and accountability, aiming to excel in providing goods and services to the resources sector.
• ASX Recommendations and Compliance: The company endorses the Australian Securities Exchange (ASX) Corporate Governance Council's recommendations. While not prescriptive, MinRes follows and discloses the extent of compliance with these recommendations.
• Charters and Policies: The charters for various board committees, such as Sustainability, Remuneration, and Audit, have been reviewed and updated to align with evolving governance standards.
• Directors' Roles and Responsibilities: The Board Charter outlines the roles and responsibilities of directors, highlighting their duty to represent shareholders, oversee corporate objectives, and monitor the company's performance and risk management.
• Appointment Procedures: MinRes ensures thorough background checks before appointing directors or senior executives, with an emphasis on character, experience, and qualifications. The company's Investor Engagement Policy fosters transparent communication with stakeholders.
• Written Agreements: Each director and senior executive has a written agreement specifying the terms of their appointment, ensuring clarity in their roles and responsibilities.
• Company Secretary Accountability: The company secretary is accountable to the board through the chair for matters concerning proper board functioning.
• Diversity and Inclusion: MinRes has a Diversity and Inclusion Policy to create an inclusive workplace. The Board Remuneration and People Committee and Sustainability Committee oversee diversity-related initiatives, while a Diversity and Inclusion Steering Committee focuses on workforce equality.
• Measurable Objectives: MinRes sets measurable gender diversity objectives for its board, senior executives, and workforce, and discloses its progress. The company’s Short Term Incentive Plans include a diversity-related Key Performance Indicator.

Conclusion

Mineral Resources Ltd's FY23 Corporate Governance Statement underscores its commitment to transparency, accountability, and ethical conduct. By adhering to ASX recommendations and implementing comprehensive policies, MinRes aims to foster a culture of responsible corporate governance while striving for long-term growth and shareholder value.

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