The creation of the new committee is in line with the company’s objective of continually improving its corporate governance standards.
As a recently elected independent director, Boulton has strong audit and governance skills and is well-suited to provide appropriate oversight in those areas.
The committee’s role will be to assist the board on issues relevant to:
Integrity of the company’s financial reporting and compliance;
Oversight of material business risks, including review and approval of the company’s risk management and oversight policies; and
Oversight of all governance-related matters.
Kogi aims to become a producer of cast steel products by developing its 100%-owned Agbaja project in the Kogi State within the Republic of Nigeria.
The company recently completed test work to prove the viability of producing a suitable metallised product using Nigerian domestic coal sources.
The testing was undertaken by specialist coal consultant Torex and both coal sources used in the program have the capacity to supply 100% of Agbaja’s needs and are within 70 kilometres of the project.