TSX Trading Symbol: GBU
CEO Terms Responsibility Guidelines Part of a "Race to the Top"
Company Joins Romanian Government in Commitment to OECD Process
TORONTO, Canada, and BUCHAREST, Romania, Sept. 22 /CNW/ - Gabriel
Resources Ltd. today expanded its commitment to corporate social
responsibility by adopting the OECD Guidelines for Multinational Enterprises
(the "Guidelines"). The OECD Guidelines, one of the world's foremost corporate
responsibility instruments, contain voluntary principles and standards for
responsible business conduct in such areas as human rights, disclosure of
information, anti-corruption, taxation, labor relations and the environment,
and aim to promote the positive contributions multinational enterprises can
make to economic, environmental and social progress.
The OECD Guidelines are the only multilaterally endorsed and
comprehensive code of conduct that governments are committed to promoting. The
37 countries that now adhere to the Guidelines are the source of most of the
world's foreign direct investment. Both Canada and Romania adhere to and
actively promote the Guidelines. The Government of Romania formally adopted
the OECD Declaration on International Investment and Multinational Enterprises
in April 2005.
"We often hear from critics of globalization that internationalization
will lead to a 'race to the bottom', where companies look for the least
restrictive rules and regulations," said Gabriel President and Chief Executive
Officer Alan R. Hill. "But the fact is that globalization, when it encourages
companies to play to the highest international standards, can be a race to the
top."
Gabriel's adoption of the Guidelines expands its existing commitment to
corporate social responsibility, with a clear example of that commitment being
the Environmental Impact Assessment (EIA) prepared for the development of the
proposed new mine at Rosia Montana in western Romania. Gabriel's EIA is in
compliance with all Romanian and European Union legislation, as well as
international best practices, with respect to mining projects. As set forth in
the OECD Guidelines, the Rosia Montana project does not seek any relief or
exemption from legislative requirements regarding environmental matters. "Our
Rosia Montana project complies with the most stringent standards applicable to
a mining enterprise," continued Mr. Hill. "We have designed Rosia Montana to
meet EU and international standards from Day One - and when Romanian standards
are more stringent than the comparable EU or international standards, we'll be
governed by the Romanian standards."
About the OECD Guidelines
The Guidelines are the means through which The Organization for Economic
Co-operation and Development (OECD) seeks to integrate core values in the
areas of human rights, labor standards, the environment and anti-corruption
into its work on international investment so as to help the OECD advance its
mission of enhancing the contribution of investment to growth and sustainable
development.
Gabriel/Rosia Montana also signatory of the International Cyanide
Management Code
As part of its commitment to adhere to the highest international
standards and legislation, Gabriel/Rosia Montana has already become a
signatory of the International Cyanide Management Code for the Manufacture,
Transport and Use of Cyanide in the Production of Gold developed by the
International Cyanide Management Institute (ICMI) in March 2006.
The code - which is a voluntary industry program developed under the
aegis of the United Nations Environment Program (UNEP) and the International
Council on Metals and the Environment (ICME) and which currently comprises 20
international companies involved in the production or transportation of
cyanide, as well as gold mining companies - was developed in 2000, as a
response to several spills and incidents involving cyanide at gold mines,
particularly at Baia Mare, Romania in January 2000.
About Gabriel
Gabriel is a Canadian based resource company committed to responsible
mining and sustainable development in the communities in which it operates.
Gabriel is currently engaged in the exploration and development of mineral
properties in Romania and is presently engaged in the development of its 80%
owned Rosia Montana gold project.
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The OECD Guidelines for Multinational Enterprises
Enterprises should take fully into account established policies in the
countries in which they operate, and consider the views of other
stakeholders. In this regard, enterprises should:
1. Contribute to economic, social and environmental progress with a view
to achieving sustainable development.
2. Respect the human rights of those affected by their activities
consistent with the host government's international obligations and
commitments.
3. Encourage local capacity building through close co-operation with the
local community, including business interests, as well as developing
the enterprise's activities in domestic and foreign markets,
consistent with the need for sound commercial practice.
4. Encourage human capital formation, in particular by creating
employment opportunities and facilitating training opportunities for
employees.
5. Refrain from seeking or accepting exemptions not contemplated in the
statutory or regulatory framework related to environmental, health,
safety, labor, taxation, financial incentives, or other issues
6. Support and uphold good corporate governance principles and develop
and apply good corporate governance practices.
7. Develop and apply effective self-regulatory practices and management
systems that foster a relationship of confidence and mutual trust
between enterprises and the societies in which they operate.
8. Promote employee awareness of, and compliance with, company policies
through appropriate dissemination of these policies, including
through training programmes.
9. Refrain from discriminatory or disciplinary action against employees
who make bona fide reports to management or, as appropriate, to the
competent public authorities, on practices that contravene the law,
the Guidelines or the enterprise's policies.
10. Encourage, where practicable, business partners, including suppliers
and sub-contractors, to apply principles of corporate conduct
compatible with the Guidelines.
11. Abstain from any improper involvement in local political activities.
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