Corporate and Social Responsibility

The directors and employees of African Eagle share a common social conscience and we are committed to the well-being of the communities and environments in which we operate. We know that our operations will affect these communities and their environment and we seek always to make our impact a positive one.

Key to our operation as an exploration Company is our assurance that our operations fully engage the communities in which we operate. Everyday we engage with these communities by creating jobs, procuring supplies and services, and training and empowering our workers. In our experience, this level of involvement can have a greater positive impact than through the ad hoc support of good causes.

Policy

During 2007, we undertook a detailed review of our Corporate Social Responsibility (CSR) Policy. All key staff and managers were interviewed and their views taken into account to ensure that our workforce is committed to our CSR policy. The main components of our policy are:

Be a good corporate citizen;
Be mindful of our obligations to the environment and local communities;
Think how our operations can be made to benefit our host communities;
Obtain supplies and workforce as locally as possible;
Invest in the training and development of our employees;
Try to do better than best practice in environmental and safety issues; and
When supporting good causes, target communities local to our main operations; provide tangible help by providing goods and services rather than cash; ensure that the contribution is lasting and can be developed further; ensure that any intermediaries have a record of success; and always monitor the results.

The review underlined African Eagle’s commitment to an effective CSR policy. The Board takes full responsibility for this policy and has appointed a coordinator to oversee its implementation and ensure good communication.

Local initiatives

African Eagle has supported local initiatives in education, particularly primary schools, through assisting with the building of classrooms and the provision of school uniforms, school equipment, text books and sports equipment. The other key area supported by African Eagle is health, through the provision of medical equipment and HIV/AIDS education.

In 2007, the Group directly supported several local community initiatives. In Mkushi, Zambia, in partnership with CGA Mining, African Eagle has substantially refurbished and re-equipped the Mkushi Mine Health Post, a clinic on which a population of 9,000 people depend.

Also during the year we helped to refurbish a science laboratory at Mkushi High School and installed a water tank to serve the school.

In Tanzania, we continue to support Upendo Daima, a Street Children’s Centre close to Mwanza. In 2008, we will contribute to sinking a borehole and fitting a pump to provide a clean water supply to the centre. We have also contributed to a number of local charities which support children through school as well as families living with HIV/AIDS.

Environment

African Eagle follows best practice to ensure that all of its projects cause the minimum environmental impact. At the very least, African Eagle ensures compliance with all local regulations and legislation.

The development of a mine at Mkushi will affect the environment, and so,with CGA Mining, we commissioned a full environmental impact assessment (EIA) to understand and manage the implications of this. As Mkushi is currently a brownfield site, we will aim to leave the area in better condition than we found it.

In Tanzania, our continuing stewardship of a 300 hectare nature reserve within the Miyabi project area ensures the protection of this wooded and mixed-use land for future generations.

Staff training, retention and safety

More than 90% of the 47 people at our African operations have been recruited locally. We regard the education and training of our staff as a vital part of our CSR programme.

We encourage our staff to attend training courses and conferences to further their knowledge and experience. We have several senior employees today who started with African Eagle as casual labourers and now have technical skills and a more assured future. We also provide financial support to employees who are studying for professional and postgraduate qualifications. During 2007, four of our Zambian employees started such courses, notably William Mumba, who attended a one-year full-time course at the prestigious Rhodes University and was awarded a Masters Degree in Geology in early 2008.

Finding and keeping good staff is becoming more and more difficult. Fortunately the Group has a low staff turnover rate, with many of our employees having been with us for more than five years. We believe that this is in part due to our commitment to training, our fair and equitable remuneration policy, and our policy of delegating responsibility. Our salaries are competitive and many of our locally recruited staff are included in the Group share option plan.

Ensuring the health and safety of our staff is very important to the Company. The Director for Health and Safety is our Operations Director. Health and safety guidelines and risk assessments are implemented at all our overseas operations and staff receive training at regular intervals. Safe working practices are documented and cover areas such as safety at drilling sites, guidelines for the treatment and prevention of malaria, and vehicles and driving.

UK Office & Registered Address : 2nd Floor, 6-7 Queen Street, London, EC4N 1SP, UK,
+44 20 72 48 60 59 Fax +44 20 76 91 77 45 e-mail info@africaneagle.co.uk
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