FOR IMMEDIATE RELEASE
Friday, August 02, 2013
Johannesburg, South Africa, Harare, Zimbabwe, Vienna, Austria, Tokyo, Japan – Friday 02, 2013 – African Compass International Limited (“ACI” or the “Company”), today announced it has received information suggesting that the integrity of its columbite-tantalite (coltan), cassiterite (tin) and wolframite (tungsten ore) supply chains through its local joint venture partner in the Eastern Democratic Republic of Congo (DRC) may have been compromised.
Information provided by reliable sources raises concerns that the coltan, tin and tungsten ore from the Eastern DRC may have been mined in conflict-affected areas and unknown to ACI. This information, so far substantiated, prompted ACI to suspend indefinitely pending a thorough review of ACI’s SCC, all further purchases of coltan, tin and tungsten ore from the Eastern DRC, effective immediately.
ACI fully supports, among others, the UN Guiding Principles on Business and Human Rights, UN Global Compact Principles, OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, World Bank Group (WBG) ProMines, Extractive Industries Transparency Initiative (EITI), Voluntary Principles on Security and Human Rights, U.S. Dodd-Frank Act on these issues and is acting to ensure that its sourcing activities do not unwittingly support armed groups and are not associated with human rights abuses or conflicts in any region. Due to the big amounts of coltan, tin and tungsten ore purchased from the Eastern DRC, all customers cannot be assured that their supply of coltan, tin and tungsten ore will not be disrupted in any way.
ACI follows a Code of Business Conduct and Ethics (Conflict Mineral Policy) that calls for responsible sourcing of raw materials and compliance with all relevant national and international laws and standards. All suppliers are expected and obligated to do the same. ACI has been sourcing coltan, tin and tungsten ore in a responsible manner for more than 3 years, and is fully committed to purchasing raw materials only from conflict-free sources.
About ACI
African Compass International (“ACI”) is a global diversified private natural resources company in frontier, emerging/established emerging and developed markets. The Group farms, explores, sources, refines and produces, inter alia, agriculture products, base metals, ferrous & non-ferrous metals, minor metals, platinum group metals, precious metals, oil & gas and commercial energy. Our diversified operations in Africa, South America and Eurasia are supported by offices in Austria, Canada, Japan and Zimbabwe. ACI always seeks partnerships with all its stakeholders that will add value to projects at hand based on the core values of honesty, integrity and vision.
Supporting Resources: please visit www.africancompassinternational.com; follow @Afrikancompass on Twitter, or join ACI on LinkedIn.
For and on behalf of the Company’s Board of Directors
Julian RUPARE, Jr.
CEO & Chair
GLOSSARY OF TERMS:
The following are the main terms and abbreviations used in this webnews:
ACI African Compass International Limited and/or its subsidiaries, as appropriate
CEO Chief Executive Officer
CG Chief Geologist
CLO Chief Legal Officer
Company African Compass International or African Compass International Limited
COO Chief Operating Officer
DRC Democratic Republic of Congo
EITI Extractive Industries Transparency Initiative
OECD Organisation for Economic Cooperation and Development
SCC Supplier Code of Conduct
UN United Nations
WBG World Bank Group
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African Compass International
Johannesburg | Harare | Vienna | Tokyo
Directors J Rupare Jr (CEO) C N Rupare (COO) U Mazunga (CLO) V M S Correia (CG)
