Mr. Maxime Senecaut, Official Representative of Solway Investment Group in Liberia Mr. Maxime Senecaut, Official Representative of Solway Investment Group in Liberia

‘Solway has neither Russian roots nor does it have business relations with Russia’ - Management sets record straight, rubbishes Media Reports

The Management of Solway Investment Group, a private mining and metals group headquartered in Switzerland with global operations, through Maxime Senecaut, Official Representative of Solway Investment Group in Liberia, has distanced Solway 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, responding to media inquiries regarding the media reports when he addressed the Press Union of Liberia(PUL) Edward Wilmot Blyden Forum on Thursday, September 29, 2022 in Sanniquellie City, Nimba, categorically rubbished the media reports and described the media reports as false and misleading.

The Edward Wilmot Blyden Forum was part of series of activities that marked the 58th Anniversary of the PUL. This year’s anniversary celebration focused on the Digital Business Model, the New Way in Media Marketing Innovation at a time business in the media has declined
Speaking further, Mr. Senecaut, however, was quick to point 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 3 March 2022, Solway exited Russia because of the war against Ukraine. This process is legally completed.”

Contrary to the media reports, the official representative of Solway Investment Group in Liberia, also 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. None of the managers and owners of Solway is a Russian citizen or resident. Solway is wholly owned and managed by EU citizens. In addition, there are no relations with the Kremlin in Moscow,’’ he asserted.
Meanwhile, Solway joined the PUL to support the development of journalism in the region on the day of the 58th Anniversary of the Union in Sanniquellie City, Nimba County. Solway Investment Group joined 300 journalists in discussing the role of media and public information literacy in creating peaceful, prosperous, just, and inclusive societies.

‘‘By supporting the umbrella organization for media professionals and local, national, and international institutions in Liberia Solway is aiming to grow its own knowledge and promote 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 a few years and is now entering its new cycle of production. We were always dedicated to making it right from the very beginning and working in compliance with international regulations and global standards of good practice.

Our emphasis is on constructive and open engagement with our stakeholders, including ensuring public access to information and protecting fundamental freedoms. From our experiences in other countries, we know 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.

In this context, the group recently introduced the new corporate Human Rights Policy committing to respecting and promoting national laws and internationally recognized human rights principles, and to 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 HighRisk Areas

Solway in Liberia 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.

It can be recalled that in October 2019, the Government of Monrovia, Liberia + +231 77 646 2932 This email address is being protected from spambots. You need JavaScript enabled to view it. Liberia, by and through the Ministry of Mines and Energy, awarded Solway Mining Inc. a three-year Mineral Exploration License (MEL). The MEL 8000119 gives Solway Mining Inc. the right to explore the Mt. Detton and Mt. Bele tenements, which are situated approximately 7 kilometres Northeast of Sanniquellie, Nimba County. About 95% of Solway’s current workforce are Liberians, most of them come from the project-impacted communities.

Human Rights Commitment in Liberia Solway maintains in every country a constructive exchange with the authorities; this also applies to Liberia. Therefore, Solway also complies with environmental standards. It has committed to far-reaching rules as part of its ESG strategy (see below) and will also implement these in Liberia. In the affected communities, Solway builds schools, nurseries, water pumps, etc. and supports other community projects. This is part of an agreement with the involved communities in Liberia and Solway will stick to it. But the communities must submit a plan for their health and education projects before Solway can make its financial contribution.

Solway is always committed to maintaining a constructive exchange with those communities. Solway has adopted a new "Human Rights Policy". People and human rights are part of Solway's values and culture. This applies to employees as well as to the local population. Solway Group recognizes the importance of producing and marketing products in a responsible and environmentally friendly manner. 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.

For this, Solway has developed the present Human Rights Policy. Solway has concluded that as a first priority the company will bring their 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. To remediate and close the relevant identified gaps, Solway Group has started a group-led project, supported by internationally leading ESG and Compliance experts.

This Human Rights Policy represents the basis of planification and realization of the strategic objectives of Solway Investment Group in the field of Human Rights respect, according to the United Nations Guiding Principles on Business and Human Rights, OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and HighRisk Areas, principles of sustainable development, ESG criteria and applicable national legislation. Russian Link Solway is not a Russian company and does not have any business relations with Russia since 3 March 2022, when Solway exited from its two investments in Russia, which represented less than 10% of the global operations of the Group.


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