Corporate Governance

SEMAFO strives to create shareholder value through sound corporate governance principles, which include:

  • Corporate accountability
  • Ethical behavior
  • Disclosure and transparency
  • Anti-corruption measures
  • Equitable treatment of all shareholders

The Board of Directors believes that the Corporation’s commitment to corporate governance practices have been, and continue to be, in compliance with applicable Canadian guidelines in all material aspects.


Forward-Looking Statements

This web site contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. These forward looking statements include statements regarding our expectations as to the market price of gold, production targets, timetables, mining operation expenses, capital expenditures and mineral reserves and resources estimates. Forward-looking statements include words or expressions such as “committed”, “evolve”, “become”, “maximize”, “pursuing”, “growth”, “scheduled”, “expected”, “estimated”, “will”, “should” and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward looking statements include the ability to execute on our strategic focus, fluctuations in the price of currencies, gold or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, requirements of additional financing, increase in tax or royalty rates or adoption of new interpretations related thereto, political and social stability in Africa (including our ability to maintain or renew licenses and permits) and other risks described from time to time with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in filings made with the Canadian securities regulatory authorities available at Documents are also available on our website at We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law.

Differences Between SEMAFO Practices and the Swedish Code of Corporate Governance

As a foreign issuer with a secondary listing of shares on the NASDAQ OMX Stockholm, SEMAFO is not required to comply with the corporate governance rules of the Swedish Companies Act or of the Swedish Code of Corporate Governance (the "Swedish Code"). SEMAFO believes in adhering to best-practice corporate governance on a global level whenever possible and a description of the key differences between the Swedish Code and the Canadian corporate governance principles may be viewed through the document titled Principal Differences Between Swedish Corporate Laws and Rules Applicable to SEMAFO in Canada.