Metminco opens community engagement plantain project to employ artisanal miners
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Metminco Limited (ASX: MNC), proposed to be renamed Los Cerros Limited, today announced that it has officially opened a local business, Quinchips — a key component of its Corporate Social Responsibility (CSR) work program, co-sponsored by the Australian Government through the Australian Embassy - Colombia.
Metminco recently merged with Andes Resources Ltd to form a significant Colombian gold-focused explorer in the prolific mid-Cauca Gold Belt with dominant positions in the Andes and Quinchia districts. Both companies had established, wide ranging social programs prior to merger and the shared view and importance given to CSR was a positive factor in merger considerations.
Quinchips is a manufacturer and distributer of plantain chips, a popular snack in Colombia, and is entirely staffed and managed by women who were previously either artisanal miners or the partners of artisanal miners from the Miraflores area in Quinchia, where Metminco has established Mineral Reserves and Resources.
Metminco’s Managing Director, Jason Stirbinskis commented: “We are planning for success in Colombia, and with that comes our commitment to positive community engagement and setting the right foundations for the establishment of a long term mining business that benefits the local community.”
Stirbinskis is in Colombia for the current drilling program at the Chuscal Gold Target, a JV with AngloGold Ashanti Colombia SA.
Metminco has trained the Quinchips team in all aspects of administration, sales, production and health and safety in addition to fitting out one of its buildings as a production facility.
The opening ceremony, attended by both the Australian Ambassador to Colombia and local dignitaries, was held on Friday 8 November 2019 in Quinchia and covered by Colombian media.
“A company’s social licence to operate is granted by a community on a daily basis and, with that in mind, Metminco’s programs are consistent with being part of the local community, meeting its obligations to local groups and continuously applying its simple policy of ‘buy local, hire local, employ local’," Stirbinskis said.
“It’s moments like these when we see the very real and positive difference an exploration company can make to a community. The initiative was a relatively modest investment for Metminco, commensurate with its current size and operating budget, but the ongoing benefits are very significant, especially for the Quinchips team, who are no longer in the unsafe business of artisanal mining.”
According to Australia’s first Ambassador in Colombia, Sophie Davies, this project highlights the best of Australia’s work in the country: the promotion of gender equality, the partnership with science and academia, a strong relationship with communities and local government, and sustainable mining practices.
"Moreover, this project is an opportunity for the eradication of poverty and women’s empowerment in post conflict and resource-rich regions. We are pleased to support Colombia’s eradication of poverty leveraging on Australia’s reputation in sustainable mining through projects such as Quinchips,” Davies stressed.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
