The Management of Solway Investment Group, a private mining and metals group headquartered in Switzerland with global operations through its Official Representative, Maxime Senecaut, has distanced the company from Russia, saying the company does not have any business with Russia.
It can be recalled that a fortnight ago, it was reported in the Liberian media that Solway was a Russian Company.
But Mr. Senecaut, addressing the Edward Wilmot Blyden Forum on Thursday, September 29, 2022 in Sanniquellie City, Nimba, categorically rubbished the media reports and described the reports as false and misleading.
Mr. Senecaut was quick to point out that Solway, like any other mining company, worked in Russia, stating, ”In the past, we had exploration to Russia like Mittal Steel did, like any other company did, but since the war between Russia and Ukraine surfaced, we had few investments and operational projects in Russia and on March 3, 2022, Solway exited Russia because of the war against Ukraine and this process is legally completed.”
Contrary to the media reports, the official representative of Solway Investment Group in Liberia further clarified that the owners of the company are European citizens.
“Solway has neither Russian roots nor does it have business relations with Russia. Solway Investment Group is a private international mining and metals group based in Switzerland and operates mines with a focus on nickel and copper production in Northern Macedonia, Argentina, Guatemala, Liberia, Indonesia and Ukraine,” he stated.
He expressed that none of the managers and owners of Solway are Russian citizens or residents and that the company is wholly owned and managed by EU citizens. “In addition, there are no relations with the Kremlin in Moscow,” he asserted.
He said Solway is aimed at growing its own knowledge and promoting further public understanding of the functions of the media and other information providers about how to critically evaluate their content and to make informed choices as users and producers of information and media content,” the company said in a statement.
Solway has been developing an iron-ore exploration project in Liberia for few years and is now entering its new cycle of production with dedication to making it right from the very beginning and working in compliance with international regulations and global standards of good practice.
The company’s emphasis is on constructive and open engagement with its stakeholders, including ensuring public access to information and protecting fundamental freedoms.
From experiences in other countries, Solway knows about the importance of understanding and explaining complex issues, respecting pluralistic information systems and freedom of opinion and expression.
“These can highly impact the quality of life of citizens in the regions where we operate, mostly in terms of good governance and accountability. We believe that collaborating with the National Press Union will help us bring sustainability of our business practices to the next level on the way to becoming a good and trusted local corporate citizen, appreciated by all the communities in which we operate,” said the official representative of Solway Investment Group in Liberia.
According to him, Solway is currently undergoing the continuing transition process led by the board of directors and aimed at making real improvements identified in the Group’s ESG implementation plan.
The group recently introduced the new corporate Human Rights Policy committing to respecting and promoting national laws and internationally recognized human rights principles and operating in alignment with the UN Guiding Principles on Business and Human Rights and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High Risk Areas
Liberia’s Solway Mining Group is a subsidiary of Solway Industries Limited and has been licensed by the Government of Liberia (GoL) to undertake iron ore exploration to ascertain the existence, location, quantity, and quality of commercial value of deposits in the exploration area that covers approximately 56 Sq km.
Solway has applied for a Mineral Development Agreement (MDA) over the licensed area (MEL 8000119) with an objective to develop an exemplary iron-ore mine with production up to 10Mt of iron ore for exports in global markets.
Solway is always committed to maintaining a constructive exchange with those communities and has adopted a new “Human Rights Policy” as people and human rights remain part of its values and culture.
Solway Group recognizes the importance of producing and marketing products in a responsible and environmentally friendly manner noting, “We are aware of the increasing ESG expectations and requirements coming from international and national regulations, laws, and standard setters, but also from our customers, the communities in which we operate, business partners, finance providers, NGO and other stakeholders.”
Meanwhile, Solway has developed the present Human Rights Policy and has also concluded that as a first priority that the company will bring as ESG program to the next level in the upcoming months.
Since the first review activities in 2020 Solway has undertaken various steps on the asset level to close the gaps already and to remediate and close the relevant identified gaps.
Solway Group has started a group-led project, supported by internationally leading ESG and Compliance experts.
