Corporate Code of Ethics
Lake Victoria Mining Company’s success in Tanzania has been built on professional and personal respect in all its dealings. As a company, it guides it’s conduct by principles, such as honesty, integrity, loyalty and human kindness.
It is also Lake Victoria Mining Company’s responsibility to adhere closely to the laws of the country where it is practicing business.
The company also endeavors to maintain a good working environment by honest, open and effective communication between employees and management.
The following outlines principles governing the work code of ethics in the company:
Good Business Ethics
All Lake Victoria Mining Company’s employees are responsible for adhering to ethical business practice. Failure to adhere to acceptable business practice and civil ethical behavior will result in the appropriate consequences, both by the company and by the laws of the country.
All employees are responsible to report any behavior that is deemed to be contrary to good business ethics to the company. In addition it is the company’s responsibility to report any unlawful conduct to the necessary authorities.
Conflicts of Interest
All employees and management will strive to act only in the best interests of the company. Any conflict of interests, which will make it difficult for an employee or management to act in the best interests of the company should be avoided.
Any work that would only benefit the personal gain of the individual at the expense of the company, which would constitute improper gain, would be a conflict of interest to the company.
Lake Victoria Mining Company, recognizes the right of employees and management to take part in financial and business activities outside of their company work, but these should not be at the expense of the company or in conflict with its business interests. Any such activity would compromise their personal judgment within the company.
Any employee or management of Lake Victoria Mining Company may not work as employees or consultants to outside companies that would constitute competitors, or potential business partners with Lake Victoria Mining Company, without the prior consent of the company management.
Investing or trading in Lake Victoria Mining Company’s competitors or business partners remains subject to applicable laws and regulations regarding insider trading.
Lake Victoria Mining Company’s employees and management will not solicit any gifts or gifts of cash that would compromise or influence them to make unsound business decisions.
If conflicts of interest are persistent and there is not sound judgment on the part of an employee or director, Lake Victoria Mining Company’s general policy will be to correct the situation in the best interests of the company, allowing reasonable time to prevent unnecessary hardship for the person involved.
Proper Use of Assets
All employees and management are expected to be prudent with Company assets. This includes protecting company assets from loss, theft, misuse, damage and waste. Proper use of assets also includes proper use of work time and company property.
Public Disclosure
Lake Victoria Mining Company’s commitment is to provide timely, accurate and factual information to its shareholders
Financial Governance
Lake Victoria Mining Company’s accounting will reflect an accurate and complete record, with reasonable detail of business transactions undertaken by the company. Each employee and person in management must work to facilitate accurate records for accounting and proper expenditure by the company.
Confidentiality
Employees and management must maintain confidentiality on matters of business or financial importance. This obligation extends beyond the term of employment with the company. Where applicable, the company will request an employee to complete a Non Compete and Confidentiality Agreement.
Good Dealings
All employees and management are expected to treat any persons they come into contact with through the business dealings of the company with proper respect and kindness.
Discrimination and Harassment
Lake Victoria Mining Company does not tolerate any discrimination due to, race, cultural or spiritual background of any employees or management.
It is believed that all employees and management will act with professionalism free from bias or harassment.
Compliance
Lake Victoria Mining Company is committed to comply with all laws, and regulations in any jurisdiction in which it chooses to operate as a company.
All employees and management are expected to inform themselves to the best of their ability of all laws and regulations governing their business in the district they are operating in, and to adhere to such.
It is also Lake Victoria Mining Company’s policy that neither the company, nor its employees or management shall accept, pay for or promise to give anything to any government official, Government Department, political party or Government committee for any purpose other than according to the law of the country in which a bonafide receipt is required, or for the purpose of unjust gain, either that would benefit the company or indirectly benefit them on behalf of the company.
Lake Victoria takes a strong anti-bribery stance in its efforts to do business and will be extra vigilant to not get involved in this practice even though it may be viewed as common practice.
Health & Safety
Lake Victoria will practice business with a sound mind in compliance with the safety regulations governing the gold mining industry.
All employees and management will be helped to maintain a healthy and happy outlook while working for the company.
Waivers of This Code
There may be certain situations, where it could be necessary to waive this code. This would only be done on the level of management and always with the best interests of the company first.
