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COMPANY BACKGROUND
The company we have chosen is Apex Mining Co., Inc. (AMCI). It is a Philippine-owned
company which commenced the operation of its Maco Gold Mine (formerly called “Masara”)
situated in the municipalities of Maco and Mabini in the province of Compostela Valley in
1974. AMCI was incorporated and registered with the Philippine Securities and Exchange
Commission on February 26, 1970 primarily to carry on the business of mining, milling,
concentrating, converting, smelting, treating, preparing for market, manufacturing, buying,
selling, exchanging and otherwise producing and dealing in gold, silver, copper, lead, zinc
brass, iron, steel and all kinds of ores, metals and minerals. The Company listed its shares
in the Philippine Stock Exchange on March 7, 1974 and attained the status of being a public
company under the symbol APX.
In 2014, AMCI acquired 100% ownership over Monte Oro Resources & Energy, Inc.
(MORE) which has mining and non-mining business interest. MORE’s mining interest in the
Philippines consists of ownership over several other companies, both foreign and domestic.
In the following year, AMCI acquired Itogon-Suyoc Resources, Inc. (ISRI), a 100%-owned
subsidiary of the company. Currently, the company is spearheaded by its president and CEO,
Luis R. Sarmiento and 6 other Board of Directors. The company’s mission/vision is “to
promote the well-being of all stakeholders by embracing safety as a way of life, achieving
world class environment standards, and upholding a holistic approach to wellness. This we
do with care and sincere commitment to realize a sustainable, responsible, and globally
recognized mining company”.
CORPORATE VALUES
The following are the company’s corporate values, reflecting its corporate culture and
its impact to the society:
Outstanding mining image is maintained – Ensure that it employs only high caliber
employees who will work productively and efficiently to meet corporate visions.
Indigenous peoples’ good relations is maintained – Maintain and sustain the amiable
relationship between the Company and the Mansakas Tribe in Compostela Valley by
providing employment to their skilled men, supporting their undertakings, and developing
them via capacity building programs.
All risks are identified and managed – Provide safe and secured workplace for the
employees through regular inspection of tenement and identification of potential hazards for
early remediation and correction.
Five star systems is supported – Practice the five star systems standards to pursue the
Company’s advocacy of being a responsible mining company.
High performance one team is demonstrated – Value its employees highly by providing
them education, training, safe working place, safety awareness, environmental care, health
programs and protection to allow them to grow with the Company.
As can be seen above, the company emphasizes quality which is reflected in their
operation, systems standards, human resource selection and training, and their relationship
with external stakeholders. By upholding such values, AMCI is able to create a positive
corporate image towards its stakeholders and the society in general.
COMPANY POLICIES
Among the policies of the company are: Fair Dealings/Insider Trading Policy,
Company’s policy for its employees’ safety, health, and welfare, and Conflict of Interest Policy.
Firstly, under the Fair Dealings/ Insider Trading Policy, all employees must act with
the highest degree of integrity at all times whether internally or externally. Directors, officers
and employees must avoid taking unfair advantage of anyone through manipulations,
concealment, and abuse of privileged information, misrepresentation of material facts or any
unfair dealing practices, and must deal fairly with the customers, service providers, suppliers,
contractors and co-employees. Secondly, the Company’s policy for its employees’ safety,
health, and welfare promotes safety, non-discrimination, environmental awareness, and
commitment in the workplace. It likewise supports programs that promote the development
and potential of its employees as well as encourage transparency, professionalism, and
accountability. Lastly, the Conflict of Interest Policy states that all employees are expected to
Public interest is one of the important factors that is considered by companies when
formulating their policies. It is because the public is a significant part of a company’s
existence. So, how does public interest affect the specific policies of AMCI? First, the Fair
Dealings/ Insider Trading Policy was created to protect its stakeholders from unfair dealings
and transactions. This policy helps the company maintain public trust and company image.
Second, the Company’s policy for its employees’ safety, health, and welfare is one of the
public’s greatest concern since it is expected that companies must take good care of their
employees. A company that doesn’t care for its employees is not deserving of public support.
Finally, the Conflict of Interest Policy makes sure that a company’s action does not only
benefit a particular individual or group. This policy ensures that public interest is protected
by guaranteeing that all company resolutions are done reasonably for the benefit of all.
Apex Mining Co., Inc. has a number of CSR programs over the years which include
health and medical assistance, educational support, livelihood programs, public
infrastructure development, socio cultural and religious support, information, education and
communications, and development of mining technology and Geosciences. In 2018, the
Company spent a total of P56.6 million for its Social Development and Management Program
(SDMP), up by 21% from its 2017 SDMP expenditures. The three (3) major components of the
Company’s SDMP are: Development of Host & Neighboring Communities (DHNC);
Information, Education and Communication (IEC) Campaigns; and Development of Mining
Technologies and Geosciences (DMTG).
The corporate social responsibility (CSR) programs and achievements of the Company
reflect its genuine commitment to being a responsible miner and a catalyst for sustainable
community development by delivering economic, social, and environmental benefits to all its
stakeholders especially in the communities where it operates. Through its vigorous Social
Development and Management Program (SDMP), the Company demonstrates its good
corporate citizenship, and takes responsibility for the social and environmental impacts of its
business operations. The Company is determined to pursue “shared value”—creating
economic value in ways that also create value for society through its CSR programs and
initiatives.