Corporate Governance
KazakhGold is committed to principals and practises of good corporate governance.
The Board is composed of eight members, consisting of four Executive Directors and four Non Executive Directors, four of whom are independent. The members of the Assaubayev family who are Directors are deemed by the Board not to be independent under the Combined Code due to their close family relationship and long-time employment within the Group.The Board intends to comply fully with the requirements of the Combined Code and will report to shareholders on compliance with the Combined Code in accordance with the Listing Rules.
The Board has established Health, Safety and Environment, Remuneration and Audit Committees, with formally delegated duties and responsibilities with written terms of references. From time to time, separate committees may be set up by the Board to consider specific issues when the need arises.
Health and Safety Regulation
Due to the nature of the Group's business, much of its activity is conducted at its mining facilities by large numbers of workers, and workplace safety issues are of significant importance to the operation of these facilities. To monitor compliance with health and safety regulations and deal with any health and safety issues, the Group has established a dedicated department with responsibility for ensuring the safety of the workforce and maintenance of industrial hygiene standards and compliance with environmental requirements. This department includes an industrial hygiene specialist and an environmental engineer. The Group operates three occupational safety training facilities at the Aksu, Bestobe and Zholymbet mines and requires all miners, concentration and extraction plant workers and other employees to take training courses at these facilities.