Corporate Social Responsibility Policy

1 Preamble

Elite is one of the fastest growing small scale mining companies in Ghana. The operations are located primarily in the Eastern and Ashanti Regions in Ghana, encompassing mainly alluvial mining. The company’s significant growth rate over the past three (3) year has been primarily through investment in equipments and machinery to expand its scale of operations.

Corporate social responsibility (CSR) today is considered as an integral part of doing business. Companies are required to plough back to the communities to contribute to various facets of community development. There is now a global thrust to embrace corporate citizenship and sustainable business practices.

Social reporting is considered critical to corporate citizenship as well as corporate governance. Elite has embraced a credible methodology to measure, independently and objectively, the true impact of CSR on the company’s standing as a good corporate citizen. Throughout the years the Company has contributed significantly to the development of communities around the mining operations and major labour sending areas as well as in the broader community development areas especially in the Eastern Region to include water supply, community donations, guaranteed employment, education etc.

2 Purposes

The purpose of this policy is to formalise the CSR activities at Elite in line with the company’s strategic intent, and relevant mining legislation. Elite is committed to being a responsible corporate citizen having clear corporate values, recognising the interest of the others and communities, being transparent and following best corporate governance practices. The Company takes a broader view of its role in the society and therefore realizes the importance of socio-economic development, ethics, safety, health and environmental management.

3 CSR Focus Areas
  • Education
  • Socio-economic development
  • Broad-based Local Economic Empowerment and Enterprise Development.
  • Land Reclamation
  • Other areas
    The Company will actively identify other areas for involvement and funding depending on the nature of the needs identified and benefit to society, especially mining communities and major labour sending areas.

Company Summary

The company was incorporated in July 2008 to undertake the following activities

  • Mining Services
  • Mining Consultancy Services
  • Supplies and Marketing of Precious Minerals
Prior to its registration, it operated as a plant pool company ,offering rental services to the mining industry. In 2008 however, it formally registered as Elite Minerals Ghana Limited to commence its own alluvial mining operations. The transition from rental to mining was feasible because its rental business was focused in the mining industry and hence adequate technology know-how was acquired to make the transition and smooth and successful one. The company is therefore formally seven (7) years in small to medium scale mining in Ghana.

Company Ownership

The company is solely owned by Alvin Kofi Boateng Mensah. The Directors are himself and Awo Yaa Henewaa Mensah; an astute businesswoman in Ghana with over 30 years experience with a run a chain of clothing shops known as Awo's Boutique across the country.

Company History

The company was started as a plant pool business in 2006. The main target for the equipment rentals was alluvial miners. With the experience gained from working with several alluvial mining companies, the business then evolved as it acquired knowledge and expertise from engaging in partnerships with concessionaires. With the retention of profits, the company has grown from the use of single equipment for its operations to a total asset base in excess of Ghs20m as at full year

Company Locations and Facilities

The company operates from its head office in Accra, specifically Achimota with an operations office in Kumasi, mainly for procurement of parts for its operations since Kumasi is the hub of spare parts in Ghana The office in Accra harbours its administrative staff and management. The strategic direction and all key decisions are taken from this office. The company's main mining site is located at Osino in the Eastern Region of Ghana which is an hour’s drive from the outskirts of the Capital, Accra. This is a 67km square large scale mining concession which is owned by Narawa Company Limited, a Ghanaian-Israeli Company. Elite Minerals has an existing profit sharing arrangement with the concessionaire.

Elite Minerals Ghana Limited is also finalizing survey and geological works on fifty (50) concessions (1,250 acres) in Asamama near Anyinam, also in the Eastern Region; approximately 10 km from current site of operations to start work on it in the second half of this year. This concession is owned owned by ATK Mining Company Ltd. The terms of engagement as agreed on makes it a viable undertaking for the next four (4) to five (5) years.

Elite Minerals expertise in alluvial mining is what drives the major concession owners to engage its expertise in mining these concessions.

The river Birim runs through the concession on both sides with the topography basically low lying and sparsely populated. The initial works provides an average overburden of between 3m-4m.

Operational Model

The company's operations is capital intensive and hence driven by some key assets to drive productivity. The key capital assets that the company uses for its alluvial mining operations are Excavators, Bull Dozers and Washing Plants and a few other supporting assets.