TORONTO - Uranium producer DENISON MINES has won the 2007 Corporate Governance Award presented by the ONTARIO CHAMBER OF COMMERCE (OCC). The company was one of 14 companies recognized for their business excellence, outstanding leadership and contributions to the prosperity of the province.
"We are honoured to receive this award," said Denison president Peter Farmer. "We believe in corporate governance and we have worked very hard at it and we are benefiting from it." The OCC described Denison as a premier uranium producer and noted that last year's merger of Denison Mines and International Uranium has produced a well financed company with assets capable of increased environmentally safe uranium production.
"The importance of transparency in today's business climate guides the company's corporate governance. Directors of Denison form a team of experienced and governance savvy individuals who are committed to the betterment of the organization and its customers," said the OCC. "Disclosure and communication is strictly managed in a controlled environment from every level of the organization and new procedures and technology have played an integral role limiting risk and liability."
"The importance of our corporate governance procedures is that it improves communications and it allows us to take better advantage of the expertise on our board," added Farmer. "We have active board members and our governance gives us better knowledge and helps us be consistent and standard in the different jurisdictions where Denison operates."
The program write-up circulated at the awards ceremony stated: "This award honours a commitment - beyond legal compliance - in the area of corporate governance. Broad criteria include striving to improve areas such as adequate representation of independent directors, existence of an independent audit committee, quality of disclosures related to financial and other shareholder information, enhancements in investor confidence and communications, investor-friendly procedures and practices and an ethical code of conduct."
(This item was sent to CMJ by the ONTARIO MINING ASSOCIATION, of which Denison is a member.)
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