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Non-GAAP Information

In addition to disclosing results determined in accordance with GAAP, Galiano may also disclose certain non-GAAP and pro forma non-GAAP results of operations, including certain ratios, operational and miscellaneous data, as well as net income, diluted earnings per share, operating expenses, and operating income that make certain adjustments or exclude certain charges and gains that are outlined in the schedules included in this website. Management believes that this non-GAAP and pro forma non-GAAP information provides investors with additional information to assess Galiano’s operating performance by making certain adjustments or excluding costs or gains and assists investors in comparing our operating performance to prior periods. Management uses this non-GAAP and pro forma non-GAAP information, along with GAAP information, in evaluating its historical operating performance. Galiano and Virtua also take no responsibility for third party pricing data provided for informational purposes and certain ratio results formulated from the provided third party pricing data.

The non-GAAP information is not prepared in accordance with GAAP and may not be comparable to non-GAAP information used by other companies. The non-GAAP information should not be viewed as a substitute for, or superior to, other data prepared in accordance with GAAP.


Our success is built on our people. Their commitment, talent and knowledge are critical to our success, and our company excellence depends on our efforts to keep those at site of the Asanko Gold Mine safe, healthy and secure.


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Prioritizing Health & Safety

At Galiano, we target a zero-accident policy, to protect the safety and security of its employees.

We want our people to be happy and healthy at work and recognise the importance of employee well-being. By supporting all staff who may be exposed to health risks through their work such as potential exposure to infectious diseases and harmful substances in our operating locations or during business-critical travel. Regular local health-risk assessments to identify potential concerns allow us to apply the needed controls and prevent or manage the risks in a timely and efficient manner.

Learn more about our commitments in our Occupational Health & Safety Policy which sets out the principles and ways of working that we adhere to.

2020 Highlights:

  • Our 2020 TRIFR performance was exemplary, with very few injuries and incidents overall and only two lost time injuries throughout the year.
  • In early 2020, we adopted the ICMM International Council for Mining and Metals health and safety injury classification and methodology to monitor performance of and improve our health and safety behavior.
  • Throughout the COVID-19 pandemic our offices in Ghana, Canada, and South Africa implemented measures to support and protect our people as part of the global efforts to reduce its impact. In an area of the world where Ebola has been a concern, the AGM had the advantage of already having a pre-existing foundation of systems, procedures, and appropriate PPE in place.In early 2020, we adopted the ICMM International Council for Mining and Metals health and safety injury classification and methodology to monitor performance of and improve our health and safety behavior.
  • We implemented the ARISCU Safety Management System software to assist in the effective management of health and safety metrics including documentation and tracking, risk management, and corrective actions logs.
  • By end of 2021 we will finalise the Occupational Health and Safety (OHS) Audit intended to review the effectiveness of the OHS Management system, the effectiveness of the OHS Auditing procedures, and an examination of the infectious disease facility/management of COVID-19 at the site.

Key Levers

  • A strict application of our Zero Harm Initiative
  • Enhancing our safety culture and safety leadership among employees and contractors to prevent health impacts
  • By end of 2021 we will finalise the Occupational Health and Safety (OHS) Audit intended to review the effectiveness of the OHS Management system, the effectiveness of the OHS Auditing procedures, and an examination of the infectious disease facility/management of COVID-19 at the site.

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Human Rights

To drive our continuous improvement in the field of human rights, we apply human rights due diligence as the mechanism to enable progress, stakeholder collaboration and most importantly, avoiding harm for the people that may be affected by our business.

As a globally responsible mining company, Galiano respects human rights as articulated within the Universal Declaration of Human Rights, the International Covenant on Civil and Political Rights, the International Covenant on Economic, Social, and Cultural Rights, and the ILO Declaration on Fundamental Principles and Rights at Work and the UN Guiding Principles on Business and Human Rights.

Key levers:

In 2019, Galiano drafted a stand-alone Human Rights Policy which was approved and adopted in early 2020 in which the Company makes an overarching commitment to:

  • Avoid causing or contributing to adverse human rights impacts through our business activities, and will address such impacts if they occur
  • Seek to prevent or mitigate adverse human rights impacts that are directly linked to our operations
  • Ensure we have and promote accessible mechanisms in place for stakeholders to raise concerns and seek remedy for issues related to human rights
  • Promote the Human Rights Policy at all levels of our Company
  • Prioritize human rights training including training of security personnel in the Voluntary Principles of Security and Human Rights
  • Conducting a robust Human Rights Impact Assessment over the course of 2021 building on existing Human Rights due diligence program for the Asanko Gold Mine.
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Embedding Diversity and Equal Opportunity

At Galiano, we firmly believe that having an inclusive and diverse workplace will support us in our ambitions to outperform the markets and deliver business growth.

To ensure that everyone is truly represented and included, we seek to build a diverse and inclusive workplace where every one of us is given the opportunity to be their best selves, so that together we can discover more and reimagine mining.

Recruitment and selection at the AGM focus on skills that can be acquired from the local catchment communities and within the larger Ghanaian labour market and an aim to have strong representation of workers from the local communities to ensure they benefit from the operation’s presence.

Learn more about our commitments to diversity and inclusion in our Diversity Policy.

Key Levers:

  • Boosting training and mentoring initiatives
  • Participation in education programs to foster juniors’ interest in mining jobs
  • Fair pay, determined by expertise, experience and performance
  • Strong representation of workers from our local communities to ensure they benefit from the presence of the mine
  • Policies and procedures, developed in consultation with our local stakeholders, so that local community members enjoy preference for jobs, provided they have the required qualification for the role
  • Investment in training, our training programs are multifaceted, focusing on technical training, leadership and business literacy, and procedures and standards, as well as career development
  • Engagement with all of our contractors, in cooperation with our human resources department, to ensure they follow similar procedures.

Galiano and the Asanko Gold Mine are a proud equal opportunity employer and celebrate the positive impact diversity brings to our workplace.

Our Supplier Code articulates essential aspects of the way we work, including the respect of and equal opportunity for our workforce, the avoidance of discrimination, harassment, or conflicts of interest (102-25), and the protection of health, safety, and the environment. Consistent with our corporate values, Galiano aims to maintain a workplace that supports the ability to achieve full potential through equal opportunity and is free of discrimination of any kind.

Our female colleagues play an integral role at Galiano across all levels of the business. Specifically, at the Asanko Gold Mine women comprise 8.3% of the mine's workforce, which is above the national average in the Ghanaian mining industry.

As part of our desire to become an employer of choice, we introduced a number of new initiatives on the mine to attract and retain our female colleagues and have a formal Women in Mining Charter.

Key Levers:

  • Encouraging women to apply for jobs
  • Accommodating women on site when required
  • Providing maternity leave, above the Ghanaian legislated requirement
  • Permitting nursing mothers to stay on site with their babies and nannies
  • Factoring Sexual Harassment provisions in the Collective Agreements to protect women.
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Training and Development

The successful achievement of our goals is dependent upon the skill, commitment, and dedication of our employees and contractors. Life-long learning is central to our people development.

It is therefore a top priority to attract, recruit, retain, and motivate our workforce through training, career development opportunities, and competitive remuneration.

Galiano’s professional development focuses on ‘on the job’ performance and development and is supported by the continuous performance management process, where live feedback is encouraged continuously.

We aim at ensuring that all our employees are equipped with the appropriate capabilities to enable them to contribute meaningfully towards the company’s objectives while achieving their highest potential.

Key Levers:

  • Supporting capacity-building objectives
  • Rewarding working conditions and realizing each employee’s individual potential through training and job promotion

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The Asanko Gold Mine has a comprehensive network of local and international goods and services providers, supplying the products and services required to support the business activities of our mine, our facilities, and the ultimate production and sale of our products.

In 2020, Galiano had over 462 local and international suppliers. All Galiano suppliers are also expected to adhere to our Code of Business Conduct and Ethics and in 2020 a specific AGM Supplier Code was added to the suite of procurement documentation. This helps ensure fairness, transparency, and that we select and work alongside providers that share our values and have acceptable standards in place with respect to labour, health and safety, environmental protection, and social/human rights business practices.

We are proud to have achieved 99% of all goods and services from Ghanaian registered vendors and have received the Best Performer in Local Content Award from the Ghana Chamber of Mines.

The total value of procurement spend in 2020 for the AGM was approximately $276.5M, with approximately $254.7M or 92% were local services.

See our 2020 Sustainability Report for more detailed information on our procurement/tender policies and developing local economies through our procurement practices.

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