CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

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PRINCPIOS GERAIS .. GENERAL PRINCIPLES

Uma empresa uma identidade jurdico-econmica que actua na Sociedade atravs de um conjunto de pessoas que a compem. Assim sendo, uma empresa no dever reger-se apenas por princpios de excelncia quando assume as suas responsabilidades econmicas, mas deve tambm reger-se por princpios de tica, assumindo responsabilidades sociais e humanas. A sua aco , portanto, enquadrada pela Lei, pelos usos e costumes legalmente aceites e pelo reconhecimento dos Valores Humanos. dentro deste conceito que a SOMINCOR publica este Cdigo de Conduta Empresarial, como directriz de procedimento a todos os que trabalham na Empresa e para a Empresa, enquanto seus representantes, e da Empresa em relao aos que nela trabalham e demais entidades nela interessadas.

A company is a legal/economic entity that acts within society via a whole range of people who go to make it up. As such, a company should not just be governed by principles of excellence in fullling its economic responsibilities, but should also be governed by ethical principles and shoulder both social and human responsibilities. Its actions thus fall within a framework that is defined by the Law, by legally accepted usage and custom and by the recognition of human values. It is as part of this concept that SOMINCOR is publishing this Code of Corporate Conduct, which is procedural guideline both for all those who work at the Company, as its representatives, and for the Company itself with regard to both those who work for it and any other person or entity that has an interest in it.

edio .. edition: somincor - sociedade mineira de neves - corvo, s.a. mina neves corvo st brbara padres 7780 - 909 castro verde execuo .. printing and finishing: greca-artes grficas design .. graphic layout and production: www.designatpt.com tiragem .. copies: 1500 traduo .. translation: richard rogers (cinecasa consultores) data .. date: jan. 2006

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A poltica da SOMINCOR baseia-se nos seguintes princpios e valores gerais: > De entre os objectivos da Empresa salientam-se a obteno de melhores resultados face aos capitais investidos e o proporcionar de um bom ambiente de trabalho a todos quantos esto directamente envolvidos na sua actividade. > A Empresa dever sempre reger-se por princpios de tica no uso do poder. > entendimento da Empresa que todos os que nela trabalham so a chave de um sucesso duradoiro, pelo que aquela incentivar a responsabilidade individual, a lealdade e a dedicao, garantindo-lhes o respeito pelo bom nome e dignidade, igualdade e justia de tratamento, adequada compensao pelo trabalho realizado e a possibilidade de valorizao numa perspectiva de solidariedade e liberdade pessoal. > A Empresa segue uma poltica de conformidade com a Lei, onde quer que a sua actividade seja desenvolvida.
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SOMINCORs policy is based on the following general principles and values: > Foremost among the Companys objectives are to secure the best results in the light of the capital that has been invested, and to provide a good working environment for everyone who is directly involved in its business.

sos minerais.

Dentro desta, e tratando-se de uma empresa mineira, destaca-se a maximizao, na medida do vivel, do aproveitamento dos recur-

Inasmuch as the Company is a mining company, an important part of this policy is to maximise the exploitation of the mining resources as far as it is feasible to do so. These are basic principles that should guide the individual actions of all those who work at SOMINCOR, or collaborate with the Company as people who are all involved in its corporate relations. It is not possible to expect a Code of Corporate Conduct to dictate appropriate actions and ethical behaviour in every single situation that either the people who work for the Company or the Company itself will ever face. However, in addition to his/her own judgement 1, at moments when important decisions are taken everyone should seek the advice of colleagues and superiors, while the Company must take account of the element of moral and personal conscience that pertains to human subjectivity. Actions that may seem of little importance to ethical principles can open the door to serious breaches of those same principles.
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> The Company must always be governed by ethical principles in the use of power. > It is the Companys understanding that all the people who work for it are the key to a lasting success, so the Company shall provide incentives for individual responsibility, loyalty and dedication and shall guarantee its staff respect for their good name and dignity, equality and fair treatment, proper compensation for the work they do and the possibility of enhancing their personal worth within a perspective of solidarity and personal freedom. > The Company pursues a policy of compliance with the Law, wherever it does business.

Estes so princpios bsicos que devem guiar as aces individuais de todos quantos trabalham na SOMINCOR e que com ela colaboram, enquanto envolvidos nas suas relaes empresariais. No deve pretender-se que um Cdigo de Conduta dite as aces e os comportamentos ticos apropriados em todas as situaes com as quais as pessoas que trabalham na Empresa e a prpria Empresa se confrontam. No entanto, em momentos de importantes decises, dever procurar-se o conselho de colegas e superiores hierrquicos, para alm do julgamento prprio 1 enquanto a empresa dever ter em conta a subjectividade humana no que a sua conscincia moral e pessoal encerra. Actos que possam parecer de pouca importncia em relao aos princpios de tica, podem abrir as portas a violaes srias dos mesmos.
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Um bom teste para decidir qual o procedimento eticamente correcto consiste na resposta seguinte: Se os factos foram

The following question is a good test for deciding what the ethically correct way to proceed is: If the facts were to be

tornados pblicos tal ser embaraoso para mim, para a SOMINCOR, para os meus colegas ou para a minha famlia?

made public, would they be embarrassing for me, for SOMINCOR, for my colleagues or for my family?

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RESPONSABILIDADE DOS TITULARES DOS ORGOS DE ESTRUTURA EMPRESARIAL .. RESPONSIBILITY OF THE MEMBERS OF THE CORPORATE STRUCTURE

Os Princpios contidos no Cdigo de Conduta Empresarial (designados doravante por Princpios de Conduta Empresarial ou Princpios) exigem dos titulares dos rgos de estrutura2 padres de comportamento profissional e pessoal apropriados realidade e aos valores empresariais. Esses mesmos Princpios fornecem tambm o padro pelo qual todos quantos trabalham na SOMINCOR avaliaro a sua prpria conduta individual ou do grupo organizacional onde se integram. A conformidade com o Cdigo de Conduta Empresarial uma responsabilidade fundamental que os titulares dos rgos de estrutura tm para com a Empresa, os seus superiores hierrquicos, os seus subordinados, bem como, de uma forma genrica, relativamente aos clientes, fornecedores, accionistas, entidades ociais e pblico em geral.

The Principles included in this Code of Corporate Conduct (hereinafter Principles Governing Corporate Conduct require the members or heads of bodies that form part of the corporate structure2 to abide by standards of professional and personal conduct that are appropriate to the business world and business values. These same Principles also constitute the standard against which all those who work at SOMINCOR must judge both their own individual conduct and that of the organisational unit to which they belong. Compliance with this Code of Corporate Conduct is a fundamental responsibility that the members and heads of bodies that form part of the corporate structure owe to the Company, their superiors, their subordinates, and generically speaking to customers, suppliers, shareholders, ofcial bodies and the general public.

A cadeia hierrquica assegurar a transmisso dos Princpios estrutura da Empresa sob a sua responsabilidade, cuidando do seu integral cumprimento. Para que a conduta empresarial seja mantida em boa conformidade com estes Princpios, a hierarquia assegurar tambm a existncia de um ambiente de trabalho apropriado, no qual prevalecer o valor do exemplo. Conforme a este Cdigo, todos os titulares dos rgos de estrutura da Empresa devem estar sempre disponveis para dar opinies ou esclarecimentos aos seus subordinados sobre assuntos relacionados com o comportamento tico.

Members of the chain of command must ensure that the Principles are transmitted to the organisational units of which they are in charge, and must make sure that they are fully complied with. In order to ensure that the Companys corporate conduct remains in full compliance with these Principles, the chain of command must also ensure the existence of a suitable working environment in which the value of giving a good example must always prevail. In accordance with this Code, every member of the Governing Bodies must always be available to give opinions or clarications about matters concerning ethical behaviour to their subordinates.

Por Orgos de Estrutura Empresarial entende-se o Conselho de Administrao, as Direces, os Departamentos

Governing Bodies shall mean the Board of Directors, the Management , the Departments and Sub-departments

e os Sectores.

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RESPONSABILIDADES INDIVIDUAIS .. INDIVIDUAL RESPONSIBILITIES

3.1. INTRODUO Ao seguir uma poltica de conformidade com a Lei, onde quer que a actividade da Empresa seja desenvolvida, poder haver situaes em que o quadro legal pode parecer ambguo ou de difcil interpretao. Nestes casos, deve-se procurar um parecer profissional, especfico para cada assunto, nomeadamente junto do Gabinete Jurdico da Empresa, de modo a assegurar-se a perfeita concordncia com a referida poltica e a observncia das leis e regulamentos aplicveis. Estar em conformidade com a Lei signica respeit-la. Mas acresce ainda que todo e qualquer assunto empresarial deve ser conduzido de modo a que todas as actividades da Empresa sejam reconhecidas como eticamente correctas.

3.1. INTRODUCTION In pursuing a policy of compliance with the Law wherever the Company does business, there may be situations in which the legal framework can appear ambiguous or difficult to interpret. In such cases a specific professional opinion should be sought for each matter in question - namely from the Companys Legal Office - so as to ensure both perfect compliance with the abovementioned policy and observance of the applicable laws and regulations. To comply with the Law means to respect it; but in addition to this, each and every business dealing must be conducted in such a way that all of the Companys activities are recognised to be ethically correct.

3.2. CONVITES, OFERTAS E FAVORES Convites, ofertas ou favores efectuados ou concedidos a qualquer pessoa que trabalhe na Empresa ou que com ela colabore, os quais, pela sua natureza ou valor, possam ser interpretados como susceptveis de poderem inuenciar a imparcialidade de julgamento do receptor ou contriburem para um tratamento preferencial do ofertante, so considerados inaceitveis. 3.3. RESPONSABILIDADE CONTABILISTICA A Lei exige que qualquer sociedade mantenha, relativamente a todas as suas actividades, transaces e operaes, um correcto, atempado e adequado registo contabilstico que permita a anlise de evoluo da empresa, quer para ns de gesto quer, entre outros, para ns de scalidade ou de auditoria. tambm usual que cada empresa dena e implemente um adequado sistema de controlo interno, por forma a assegurar o cumprimento dos procedimentos estabelecidos e o controlo efectivo das transaces e operaes.

3.2. INVITATIONS, PRESENTS AND FAVOURS All invitations, presents and favours which are proposed or given/made to anyone who works for or collaborates with the Company and the nature or value of which mean that they could be interpreted as being capable of inuencing the recipients impartial judgement or contributing to the preferential treatment of whoever so proposes or gives/makes them, are considered unacceptable. 3.3. ACCOUNTING RESPONSIBILITY The Law requires every company to keep a correct, timely and suitable accounting record of all its activities, transactions and operations, such as to make it possible to analyse the way the company is going for both management and (among others) scal or auditing purposes.

It is also customary for each company to lay down and implement a suitable internal control system, so as to ensure compliance with established procedures and the effective control of transactions and operations.
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Deste modo, nunca ser demasiada a nfase a colocar na SOMINCOR quanto integridade e correco de todos os documentos emitidos e recebidos, bem como dos registos efectuados ao longo de todo o processo administrativo e contabilstico, devendo as pessoas que trabalham na Empresa desempenhar as suas funes tendo em ateno estes princpios. 3.4. LIVRE CONCORRNCIA A SOMINCOR est integrada num sistema de livre concorrncia, considerando ser este o melhor caminho para assegurar um fornecimento adequado de bens e servios e a venda dos seus produtos em correctas condies de mercado. Como tal, todos quantos trabalham na Empresa ou que com ela colaboram devem ter em conta a optimizao do binmio qualidade/preo, devendo contribuir para a concretizao da concorrncia livre e aberta, atravs de uma prtica totalmente transparente e isenta. As leis da livre concorrncia so reconhecidas como complexas. As mesmas tm aplicao sobre um amplo grupo de actividades.
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Consequently, at SOMINCOR it would be impossible to lay too great an emphasis on the integrity and accuracy of all the documents that are issued and received, as well as on that of the records that are made during the entire course of the overall administrative and accounting process. Everyone who works for the Company must bear these principles in mind as they perform their duties. 3.4. FREE COMPETITION SOMINCOR forms part of a system of free competition, which it considers to be the best way of ensuring both the appropriate supply of goods and services and the sale of its products under correct market conditions. As such, everyone who works for or collaborates with the Company must bear in mind the need to optimise the quality/price binomial, and must help to make free and open competition a reality by engaging in totally transparent and unbiased practices. The laws on free competition are known to be complex, and they apply to a broad group of activities.

para o seu incumprimento.

Nestas circunstncias, as pessoas que trabalham na Empresa devem ter a iniciativa de consultar a Administrao sempre que estiver em causa o conceito de conduta adequada. A conformidade com as referidas leis considerada, pela SOMINCOR, de tal importncia, que nenhuma invocao de desconhecimento ou de boa inteno poder ser aceite como desculpa

comply with them.

In these circumstances the people who work for the Company must take the initiative of consulting the Board of Directors whenever the concept of appropriate conduct is at stake. SOMINCOR considers compliance with the aforementioned laws to be of such importance that no claim of lack of knowledge or good intentions will be accepted as an excuse for failure to

Neste contexto, todas as pessoas directamente envolvidas na actividade da Empresa, que participem em processos de aquisio ou de venda de bens e servios, devero manter a postura tica que garanta, nos termos dos procedimentos em vigor, a igualdade de oportunidade e o tratamento justo e imparcial dos potenciais fornecedores e clientes. 3.5. CONFLITO DE INTERESSES totalmente respeitada a privacidade e liberdade na conduo dos assuntos pessoais de todos quantos trabalham na SOMINCOR. exigido a todos que cumpram lealmente as suas obrigaes para com a Empresa.

In this context everyone who is directly involved in the Companys business and who takes part in processes involving the acquisition or sale of goods and services must maintain an ethical stance which, under the terms of the Companys current procedures, guarantees equal opportunities for, and the fair and impartial treatment of potential suppliers and customers. 3.5. CONFLICTS OF INTEREST Respect for privacy and freedom in the conduct of his/her personal affairs shall be granted to everyone who work for SOMINCOR. Everyone is required to loyally full their obligations to the Company.

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Merecem particular ateno as situaes em que os interesses pessoais possam conituar com os deveres e responsabilidades prossionais, nomeadamente quanto s relaes com actuais ou futuros fornecedores, clientes, concorrentes ou accionistas. No permitido a qualquer pessoa que trabalhe na SOMINCOR ou que com ela colabore, utilizar a sua posio, os bens da Empresa ou a inuncia da mesma para obter benefcios pessoais ou a favor de terceiros. 3.6. UTILIZAO DE INFORMAO DA EMPRESA Informao privilegiada toda a informao respeitante a aspectos tcnicos, de produo ou investigao, aspectos administrativos ou comerciais da Empresa que, se lhe fosse dada publicidade no devidamente enquadrada, seria susceptvel de prejudicar a sua imagem, a sua posio negocial ou os resultados. Dentro deste tipo de informao, considerada informao condencial a que no se destina a qualquer tipo de divulgao, quer interna quer externamente. ainda tratada como informao reservada toda a
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Particular attention shall be paid to situations in which personal interests might conict with professional duties and responsibilities, particularly as regards relations with existing or future suppliers, customers, competitors or shareholders. No one who works for or collaborates with SOMINCOR shall be permitted to use either his/her position or the Companys property or inuence to obtain personal benets or the favour of third parties. 3.6. USE OF COMPANY INFORMATION Privileged information shall mean all information concerning the Companys technical, production, research, administrative or commercial affairs which, if it were to be publicised outside the proper framework, would be capable of prejudicing the Companys image, its negotiating position or its results. Within this overall type of information, condential information shall be considered to be that which is not intended for any form of internal or external disclosure. Information which, while it is common knowledge among

informao que, sendo do conhecimento de todos quantos trabalham na Empresa no desempenho das suas funes especcas, no se destina a divulgao pblica nem acessvel a pessoas exteriores Empresa. Em termos gerais, compete ao Conselho de Administrao a divulgao de informao para o exterior da Empresa, o qual poder, em circunstncias especiais, devidamente denidas, delegar formalmente essa competncia. Nenhum responsvel por um rgo de estrutura ou qualquer outra pessoa directamente envolvida na actividade da Empresa ou que com ela colabore, que conhea Informao privilegiada decorrente do exerccio das suas funes na SOMINCOR, pode dela tirar proveito ou transmiti-la a terceiros. Deve, portanto, ser assegurado que toda a informao, de qualquer natureza, relativa a tcnicas, processos ou mtodos, novos recursos, produes, custos, estatsticas, condies nanceiras, lucros e outras actividades da SOMINCOR, seja mantida condencial at ser divulgada ao pblico.

those who work for the Company in the performance of their specic functions, is not intended for public disclosure and is not accessible to people outside the Company, shall also be treated as reserved information. In general terms the Board of Directors is responsible for disclosing information outside the Company. In special and properly dened circumstances, the Board of Directors may formally delegate this responsibility. No one who is a member or head of a governing body or any other person who is directly involved in the Companys business or collaborates with the Company and who is familiar with Privileged information as a result of the performance of his/her functions at SOMINCOR, may take advantage thereof or transmit it to third parties. It must thus be ensured that all information of whatever kind concerning SOMINCORs techniques, processes or methods, new resources, production, costs, statistics, nancial conditions prots or other activities remains condential until it is disclosed to the public.

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DIREITOS HUMANOS .. HUMAN RIGHTS

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HIGIENE, SADE E SEGURANA NO TRABALHO .. HYGIENE, HEALTH AND SAFETY AT WORK

A SOMINCOR apoia e promove a existncia de um ambiente de trabalho no qual as pessoas sejam tratadas com respeito, tenham as mesmas oportunidades com base no seu mrito e onde no exista qualquer forma de discriminao. A discriminao no ser tolerada em nenhum nvel da Empresa, nem em qualquer situao referente relao laboral. Incluem-se aqui reas como recrutamento, promoes, oportunidades de formao prossional, salrios e outros benefcios e rescises de contratos. Todos os empregados sero tratados como pessoas e ser-lhes-o dadas oportunidades com base no respectivo mrito.

SOMINCOR shall support and promote the existence of a working environment in which people are treated with respect and, on the basis of their individual merit, have the same opportunities, and in which there is no form of discrimination. Discrimination shall not be tolerated at any level of the Company, or in any situation concerning labour relations. This shall include areas such as recruitment, promotions, vocational training opportunities, salaries and other benets, and the termination of contracts. Every employee shall be treated as a person and shall be given opportunities on the basis of his/her merit.

A SOMINCOR assegurar condies de trabalho higinicas e seguras em toda a sua actividade, cumprindo com todos os aspectos da legislao vigente. A SOMINCOR considera que a Higiene, Sade e Segurana no Trabalho so de importncia fundamental para a sua actividade, conforme claramente definido na Poltica de Segurana, Sade e Bem-Estar no Trabalho (ver Anexo 1).

SOMINCOR shall ensure hygienic and safe working conditions throughout its business and shall comply with every aspect of the current legislation. As is clearly set out in its Policy on Safety, Health and Well-being at Work (see Annexe 1), SOMINCOR considers that Hygiene, Health and Safety at Work are fundamentally important to its business.

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AMBIENTE .. ENVIRONMENT

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NO CONFORMIDADE .. NON-COMPLIANCE

A SOMINCOR considera que a preservao do meio ambiente parte integrante da sua responsabilidade social. Assim, por em prtica todas as medidas necessrias minimizao do impacte ambiental da sua actividade, exigindo de todos os seus colaboradores a aderncia inequvoca a tais prticas (ver Anexo 2). Ter ainda em conta e desde j o Plano de Encerramento Ambiental, uma vez que tal encerramento, mesmo que longnquo, inevitvel.

SOMINCOR considers preserving the environment to be an integral part of its responsibility to society. It shall thus put into practice all such measures as may be necessary in order to minimise the environmental impact of its activities, and shall require all its staff to unequivocally adhere to such practices (see Annexe 2). Inasmuch as the closure of the Mine - albeit still a distant event - is inevitable, the Company shall also be mindful of the Environmental Closure Plan as of the present time.

Na SOMINCOR, o cumprimento das funes e responsabilidades empresariais em conformidade com o Cdigo de Conduta Empresarial tm a mais alta prioridade. A hierarquia responsvel pela preveno da ocorrncia de violaes aos Princpios de Conduta Empresarial. Sempre que ocorram, essas violaes devem ser investigadas de modo a que os direitos de todos quantos trabalham na Empresa sejam respeitados em igualdade com os interesses e objectivos da SOMINCOR. A hierarquia dever, em consequncia, tomar ou propor as medidas administrativas e/ou aces disciplinares apropriadas, nos termos previstos na Lei. 7.1. VIOLAO DAS NORMAS EMPRESARIAIS Nem sempre as violaes dos Princpios de Conduta Empresarial correspondem simultaneamente a violaes da Lei; elas podero ser, antes, violaes ao esprito do comportamento tico. Nisto pode incluir-se: o uso ou revelao no autorizada de informao reservada, a aceitao de

At SOMINCOR fullment of functions and responsibilities within the Company in compliance with the Code of Corporate Conduct, shall possess the highest priority. The members of the chain of command shall be responsible for preventing breaches of the Principles Governing Corporate Conduct. Whenever they do occur, such breaches shall be investigated in such a way that the rights of all those who work at the Company are respected to the same extent as SOMINCORs interests and objectives. The members of the chain of command shall consequently take or propose the appropriate administrative and/or disciplinary measures, as provided for by Law. 7.1. BREACHES OF CORPORATE RULES AND STANDARDS Breaches of the Principles Governing Corporate Conduct do not always simultaneously constitute breaches of the Law; they may instead be breaches of the spirit of ethical behaviour. This may include: the use or unauthorised disclosure of reserved information, the acceptance of presents that might
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ACOMPANHAMENTO .. SUPERVISION

presentes que possa afectar a imparcialidade, a manipulao de relatrios ou o envolvimento em situaes de conito de interesses. A resoluo de casos como estes ser tratada, sempre que se justique, da forma legal adequada. Todas as situaes referentes a prticas indevidas respeitantes a questes de contabilidade, relatrios nanceiros, controlo interno e auditoria, ou outras matrias conexas relevantes para as demonstraes nanceiras da Sociedade, que sejam dolosa ou negligentemente imputveis, por actos ou omisses, conduta de membros dos rgos sociais, directores, quadros e colaboradores em geral, independentemente do seu vnculo jurdico com a Empresa, podem ser objecto de denncia, reclamao ou queixa. A comunicao desses factos pode ser efectuada, sob reserva de condencialidade, por qualquer interessado, nomeadamente, por accionistas ou seus representantes, agentes de mercado, clientes e fornecedores. Tambm os trabalhadores da SOMINCOR, de forma condencial e, se o pretenderem, anonimamente, podem apresentar denncias, reclamaes ou queixas que incidam sobre as mesmas matrias, bem como enunciar preocupaes ou apontar irregularidades sobre o funcionamento da empresa. (ver Anexo 3).
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affect impartiality, the manipulation of reports, or involvement in situations that entail a conict of interest. Whenever justied, cases like this will be handled and resolved in the legally appropriate manner. Any situation involving improper practices concerning accounting issues, nancial reports, internal control and auditing, or other related matters relevant to the nancial statement, and which, due to a felonious or negligent act or omission can be attributed to the conduct of members or heads of governing bodies, board directors, managers or members of staff in general, whatever their legal bond with the Company, may be the object of a report, claim or complaint. Any interested party - particularly shareholders or their representatives, market agents, customers and suppliers - may communicate these facts in condence.

Para assegurar a adequada implementao deste Cdigo de Conduta Empresarial, essencial o seguinte: 1) Em situaes de dvida, deve procurar-se ouvir os superiores hierrquicos. Todos os responsveis hierrquicos devem manter uma prtica de porta aberta em relao a questes de tica ou a questes de conduta empresarial. 2) A cada um dos Administradores Executivos da Empresa compete velar pela aplicao destes Princpios de Conduta Empresarial, atravs da estrutura hierrquica sob a sua responsabilidade. Todos os que integram os Orgos de Estrutura Empresarial tero de, anualmente, reconhecer, por escrito, a sua adeso ao Cdigo de Conduta Empresarial.

In order to ensure that this Code of Corporate Conduct is properly implemented the following is essential: 1) In situations in which anyone is in doubt, he/she must seek the opinion of his/her superiors. Every member of the chain of command must practise an open door policy in relation to ethical issues and matters concerning corporate conduct. 2) Each of the Companys Executive Directors shall be responsible for making every effort to ensure that these Principles Governing Corporate Conduct are applied via the organisational structure for which he/she is responsible. Everyone who belongs to the Governing Bodies must annually conrm in writing that he/she adheres to the Code of Corporate Conduct.

SOMINCORs staff may also condentially - and if they prefer, anonymously make reports, claims or complaints in relation to these matters. They may also voice their concerns or point to irregularities in the functioning of the Company. (see Annexe 3).

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ANEXOS .. ANNEXES
3) O Conselho de Administrao da SOMINCOR a autoridade mxima em relao Conduta Empresarial. 4) O Presidente do Conselho de Administrao reportar periodicamente ao Conselho, sobre a aderncia geral na Empresa ao Cdigo de Conduta Empresarial. 3) SOMINCORs Board of Directors shall be the highest authority in relation to the Corporate Conduct. 4) The Chairman of the Board of Directors shall periodically report to the Board on the extent to which the Company in general is adhering to the Code of Corporate Conduct.

Aprovado pelo Conselho de Administrao da SOMINCOR em 18 de Novembro de 2005. Aprovado pela Comisso de Governo Empresarial e pelo Conselho de Administrao da EUROZINC em 21 de Novembro de 2005 P.20

Approved by SOMINCOR Board of Directors on 18 November 2005 Approved by EUROZINC Corporate Governance Committee and Board of Directors on 21 November 2005

CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

> ANEXO 1 .. ANNEXE 1

POLTICA DE SEGURANA, SADE E BEM ESTAR NO TRABALHO .. POLICY ON SAFETY, HEALTH AND WELL-BEING AT WORK

A SOMINCOR assume o cumprimento de toda a legislao e regulamentao Portuguesa relativamente Segurana e Sade no Trabalho, alinhando as suas prioridades pela estratgia nacional e comunitria para estas matrias, esta ltima estabelecida na Poltica Social da Unio Europeia. A SOMINCOR considera que as boas condies de Segurana e Sade no Trabalho so inseparveis da ecincia e da eccia econmica das operaes. Assim, so e sero utilizados todos os meios ao seu alcance, para que todos os que trabalham na SOMINCOR e que com ela colaboram (incluindo empreiteiros, fornecedores e clientes), as possam ter e desenvolver, no s minimizando riscos e prevenindo leses e doenas, mas tambm promovendo a sua sade e o seu bem-estar fsico, moral e social. Na implementao desta Poltica a SOMINCOR desenvolver aces necessrias, de modo a: Considerar como uma das prioridades da Empresa a gesto da Segurana e Sade no Trabalho, procurando a melhoria contnua nestes domnios, estabelecendo planos, programas e procedimentos que permitam conduzir a
P.22

laid down in the European Unions Social Policy - for these matters .

SOMINCOR believes in and complies with all the Portuguese legislation and regulations concerning Safety and Health at Work, and aligns its priorities with both the national and the Community strategy - the latter being that

sua actividade de forma saudvel e segura, atribuindo-lhe os meios humanos e materiais necessrios; Avaliar, planear, projectar, construir, equipar, operar e manter as diversas instalaes, equipamentos e servios de modo a prevenir, desde a fase de concepo, todos os riscos materiais, sociais, organizacionais e psicossociais; Disponibilizar a todos os trabalhadores a informao necessria, que lhes permita compreender todos os riscos das diferentes operaes da Empresa bem como responder sempre, de um modo positivo, s preocupaes por eles manifestadas; Promover e realizar formao especca, destinada a todos os nveis hierrquicos da Empresa, atravs da qual os participantes possam obter formao e treino adequados ao cumprimento das suas obrigaes e responsabilidades e que lhes possibilitem desenvolver as suas competncias nestas matrias;

conduct its business in a healthy and safe way and allocating the necessary human and material resources to this end; Assess, plan, design, build, equip, operate and maintain its various facilities, equipment and services in such a way as to prevent all material, social, organisational and psychosocial risks from the design phase onwards; Make available to all staff the information needed to enable them to understand all the risks of the Companys different operations; and always respond positively to any concerns they may voice;

SOMINCOR considers good conditions in terms of Safety and Health at Work to be inseparable from the efciency and economic effectiveness of its operations. Every means at its disposal is and will thus be used to ensure that everyone who works for or with SOMINCOR (including contractors, suppliers and customers) can enjoy and develop those conditions, not only by minimising risks and preventing injuries and illnesses, but also by promoting their health and their physical, moral and social well-being. In implementing this Policy SOMINCOR will undertake the necessary actions, in such a way as to: Consider the management of Safety and Health at Work to be one of the Companys priorities, and to seek continuous improvements in these areas by establishing plans, programmes and procedures that make it possible to

Promote and conduct specic training for all the hierarchical levels within the Company, such as to enable the participants to obtain training which is appropriate to the fullment of their obligations and responsibilities and which permits them to develop their competencies in these matters;

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CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

> ANEXO 1 .. ANNEXE 1

> ANEXO 2 .. ANNEXE 2

POLTICA AMBIENTAL .. ENVIRONMENTAL POLICY

Manter programas internos de monitorizao e avaliao, activos e sistemticos, que garantam que todos os aspectos da actividade de Segurana e Sade no Trabalho esto em conformidade com as obrigaes legais e com o disposto internamente nos planos, programas e procedimentos; Colaborar, cooperar e intensicar a comunicao sobre estes temas com outras empresas nacionais e internacionais do mesmo sector, com os organismos governamentais, com as autoridades regionais e locais, com os trabalhadores, empreiteiros, fornecedores, clientes e com o pblico em geral, com vista identicao das melhores prticas, que permitam atingir os objectivos globais da estratgia da Empresa. A SOMINCOR requer a total adeso de todos os seus trabalhadores, empreiteiros e prestadores de servios na concretizao desta Poltica.

Maintain active and systematic internal monitoring and assessment programmes which ensure that every aspect of the Companys Safety and Health at Work activities complies with its legal obligations and the internal provisions set out in its plans, programmes and procedures; Collaborate, cooperate and intensify its communication about these topics with other Portuguese and international companies in the same sector, governmental bodies, regional and local authorities, staff, contractors, suppliers, customers and the general public, all with a view to identifying the best practices that will make it possible to achieve the overall objectives of the Companys strategy. SOMINCOR requires total adherence to the implementation of this Policy on the part of all its staff, contractors and service providers.

A SOMINCOR assume, na sua actividade, o conceito de desenvolvimento sustentvel a par de um crescimento econmico desejvel, que requer o compromisso com a correcta proteco da sade das pessoas e do ambiente natural onde se inserem. A SOMINCOR adoptar e aplicar sempre tecnologias de proteco ambiental provadas e economicamente viveis nas suas actividades de prospeco, explorao mineira, tratamento minrio, deposio de resduos e, no nal da vida til do recurso mineiro,, num encerramento correcto das operaes. As tecnologias adoptadas devero permitir, como requisito mnimo, o nvel de proteco exigido pela legislao aplicvel. Na implementao desta poltica, a SOMINCOR compromete-se a: > considerar a gesto ambiental e a melhoria contnua como prioridades da Empresa, aplicando critrios de avaliao ambiental em todas as suas actividades e ponderando os respectivos resultados nos processos de deciso, de modo a conduzir a sua actividade de forma ambientalmente segura;

In its business activities SOMINCOR believes in and pursues the concept of sustainable development alongside desirable economic growth. This requires the commitment to a correct protection of both peoples health and the natural environment of which the Company is a part. SOMINCOR shall always adopt and employ proven and economically viable environment protection technologies in its prospecting, mining, ore processing and waste deposition activities, and, when the mining resource reaches the end of its useful life, in a correct closure of its operations. The technologies that are adopted in this way shall, as a minimum requirement, permit the level of protection that is required by the applicable legislation. In implementing this policy SOMINCOR undertakes to: > consider environmental management and continuous improvement to be corporate priorities, to apply environmental assessment criteria to all its activities, and to reect on the results thereof in its decision-making processes, all in such a way as to conduct its business in an environmentally safe manner;

Aprovado em Conselho de Administrao em 5 de Maro de 2004 e retificado em 18 de Novembro de 2005 P.24

Approved by SOMINCOR Board of Directors on 5 March 2004 and ratified on 18 November 2005 P.25

CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

> ANEXO 2 .. ANNEXE 2

> avaliar, planear, construir, equipar, operar e manter as diferentes instalaes da Empresa de acordo com a legislao nacional e comunitria, aplicvel no domnio da proteco ambiental e, na ausncia de legislao aplicvel, utilizar as melhores tcnicas disponveis na preveno da poluio, constante ou no de regulamentao interna, as quais protejam efectivamente o ambiente e minimizem os riscos ambientais; > manter um programa prprio de monitorizao, activo e sistemtico, que garanta que todos os aspectos das diferentes actividades esto em conformidade com as obrigaes legais e com a regulamentao interna. Realizar auditorias sobre a posio da Empresa em matria ambiental, explicitando objectivos e metas a intervalos de tempo regulares; > manter e rever periodicamente o Plano de Fecho da Empresa; > promover e encorajar a investigao, orientada no sentido de aumentar o conhecimento cientco sobre os impactes ambientais causados pelas actividades da indstria mineira no ambiente, na melhor avaliao dos prejuzos ou benefcios econmicos por elas causados e na criao das melhores tecnologias de recuperao;
P.26

> assess, plan, build, equip, operate and maintain the Companys various facilities in accordance with the applicable national and Community legislation in the environmental protection eld, and, in the absence of applicable legislation, to use the best available pollution-prevention techniques that effectively protect the environment and minimise environmental risks, whether or not they are set out in its internal regulations; > maintain an active and systematic in-house monitoring programme which ensures that every aspect of the Companys different activities complies with both its legal obligations and its internal regulations; and carry out audits on the Companys position in environmental matters, while stating its objectives and the means that it is employing at regular intervals; > maintain and periodically review the Companys Closure Plan; > promote and encourage research, which shall be directed towards increasing scientic knowledge about the environmental impacts of the mining industrys activities, an improved assessment of the economic losses or benets caused by those activities, and the creation of better recovery technologies;

> assegurar mecanismos de informao sobre os temas ambientais a todos os que trabalham na Somincor e que com ela colaboram (incluindo empreiteiros, fornecedores e clientes) e aos agentes mais directamente interessados compreendendo autoridades regulamentadoras, comunidades vizinhas, organizaes ambientais e ao pblico em geral, garantindo o princpio da transparncia nesta matria.

> ensure the existence and implementation of mechanisms for providing information about environmental topics to all those who work at SOMINCOR, to those who collaborate with it (including contractors, suppliers and customers) and to all the most directly interested agents, to include regulatory authorities, neighbouring communities, environmental organisations and the general public, thereby guaranteeing the principle of transparency in this matter.

Entende a Somincor que, s com o seu total empenho, dos seus trabalhadores e colaboradores, ser possvel atingir nveis de excelncia em todos os aspectos da actividade por si desenvolvida e, em particular, no domnio Ambiental, cumprindo assim a sua misso como Empresa. A Somincor requer, por isso, a total adeso dos seus trabalhadores e colaboradores na concretizao desta Poltica.

It is SOMINCORs belief that it is only with the total commitment of the Company itself, its staff and all those who work with it that it will be possible to attain levels of excellence in every aspect of its business and particularly in the environmental domain, and thereby to full its mission as a Company. SOMINCOR therefore requires total adherence to the implementation of this Policy on the part of all its staff and everyone else who works with it.

Aprovado em Conselho de Administrao em 5 de Maro de 2004 e retificado em 18 de Novembro de 2005

Approved by SOMINCOR Board of Directors on 5 March 2004 and ratified on 18 November 2005 P.27

CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

> ANEXO 3 .. ANNEXE 3

SISTEMA DE PARTICIPAO DE PRTICAS INDEVIDAS (WHISTLEBLOWING) .. WHISTLEBLOWING

OBJECTIVO A criao do sistema de participao de prticas indevidas (whistleblowing) tem como objectivo dar cumprimento ao estipulado na Lei aprovada em Janeiro de 2002 pelo Senado dos EUA, conhecida por SARBANES-OXLEY ACT - 2002 (SOX), cujas orientaes em matria de whistleblowing, devem ser observadas pelas empresas cotadas na Bolsa de Nova Iorque e naquelas outras que adoptam as mesmas regras, como o caso da Bolsa de Toronto, no Canad. A Eurozinc Mining Corporation, empresa me do Grupo onde se insere a SOMINCOR, tem as suas aces cotadas na Bolsa de Toronto e est, por isso, obrigada ao cumprimento das regras SOX, tal como o esto as suas participadas, ainda que sediadas fora do Canad. Esse o caso da SOMINCOR, que ter que dar igualmente cumprimento ao SOX, nomeadamente em matria de whistleblowing.

OBJECTIVE The objective behind the creation of a system for denouncing improper practises (whistleblowing) is to comply with the provisions of the US law known as the SARBANES-OXLEY ACT - 2002 (SOX), which was passed by the US Senate in January 2002. The Acts guidelines on whistleblowing are binding on companies that are listed on the New York Stock Exchange or on other exchanges that adopt the same rules, such as the Toronto Stock Exchange in Canada. The shares of EuroZinc Mining Corporation, which is the parent company of the Group to which SOMINCOR belongs, are listed on the Toronto Stock Exchange. EUROZINC is therefore obliged to comply with the SOX rules, as are its subsidiaries, even if their registered ofces are outside Canada. This is the case with SOMINCOR, which will therefore also have to abide by SOX, namely as regards the practice of whistleblowing.

Com este propsito, todas as situaes referentes a prticas indevidas respeitantes a questes de contabilidade, relatrios nanceiros, controlo interno e auditoria, ou outras matrias conexas relevantes para as demonstraes nanceiras da Empresa, que sejam dolosa ou negligentemente imputveis, por actos ou omisses, conduta de membros dos rgos sociais, directores, quadros e colaboradores em geral, independentemente do seu vnculo jurdico com a Empresa, podem ser objecto de denncia, reclamao ou queixa. A comunicao desses factos pode ser efectuada, sob reserva de condencialidade, por qualquer interessado, nomeadamente, por accionistas ou seus representantes, agentes do mercado, clientes e fornecedores. Tambm os trabalhadores da Somincor, de forma condencial e, se o pretenderem, anonimamente, podem apresentar denncias, reclamaes ou queixas que incidam sobre as mesmas matrias, bem como enunciar preocupaes ou apontar irregularidades sobre o funcionamento da Empresa.

To this end any situation involving improper practices concerning accounting issues, nancial reports, internal control and auditing, or other related matters relevant to the nancial statements, and which, due to a felonious or negligent act or omission can be attributed to the conduct of members or heads of governing bodies, board directors, managers or members of staff in general, whatever their legal bond with the Company, may be the object of a report, claim or complaint. Any interested partly - particularly shareholders or their representatives, market agents, customers and suppliers - may communicate these facts in condence.

SOMINCORs staff may also condentially - and if they prefer, anonymously - make reports, claims or complaints in relation to these matters. They may also voice their concerns or point to irregularities in the functioning of the Company.

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CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

> ANEXO 3 .. ANNEXE 3

ORGANIZAO DO SISTEMA 1. A recepo das participaes ser efectuada pela INKSTER GROUP, no Canad, a qual enviar de imediato a participao, sem qualquer outra anlise que no seja o nome do visado e a posio na SOMINCOR, para uma das estruturas a seguir indicadas, conforme for aplicvel.

ORGANISATION OF THE SYSTEM 1. Reports, claims and complaints will be received by INSKTER GROUP, in Canada, which will immediately send them to whichever of the bodies listed below is appropriate, without analysing them in any way other than to note the name of the person who is the object of the report, claim or complaint and his/her position at SOMINCOR. 2. Reports, claims and complaints will be analysed by the following bodies: a) The legal rm J.A.MARTINEZ & ASSOCIADOS, which has its registered ofce in Portugal, will consider reports, claims and complaints that involve members of the Companys governing bodies (Board Directors, the Sole Auditor, Ofcers of the General Meeting and Managers); b) The REPORT ANALYSIS COMMITTEE (RAC), which will permanently be composed of SOMINCORs Executive Directors and chaired by the Chairman of the Board of Directors, will consider reports, claims and complaints that involve employees on Hay levels 2 to 15 and anyone else who works for the Company in general.

Considerando eventuais especicidades da situao a analisar, a estrutura mencionada em b) pode solicitar a colaborao de outro Administrador ou de um Director da Somincor com conhecimento da matria em apreo. Independentemente do nvel hierrquico ou do posicionamento na Empresa das pessoas relativamente s quais foram reportadas prticas indevidas, compete a cada uma das estruturas o seguinte: > Receber todas as denncias, reclamaes, queixas ou outras situaes apresentadas no mbito deste sistema; > Proceder a uma anlise sucinta da situao apresentada e efectuar um prvio juzo, escrito e fundamentado, quanto verosimilhana e consistncia da questo participada;

When necessary in the light of any specic elements of the situation that is under analysis, the body referred to in b) above may ask one of SOMINCORs other Board Directors or a Manager who is familiar with the matter in question to assist it. Whatever the rank or position in the Company of the people who are the object of reports of improper practices, each of the above bodies is respon-

sible for:

2. Para efeitos da anlise das participaes, sero utilizadas as estruturas seguintes: a) A Sociedade de Advogados J.A.MARTINEZ & ASSOCIADOS, sediada em Portugal, quanto s participaes que envolvam membros dos orgos sociais (Administradores, Fiscal nico e membros da Mesa da Assembleia Geral) e Directores; b) COMIT DE ANLISE DE PARTICIPAES (CAP), constitudo em permanncia pelos Administradores Executivos da Somincor e presidido pelo Presidente do Conselho de Administrao, relativamente a participaes que envolvam os trabalhadores dos nveis 2 a 15 e colaboradores em geral.
P.30

> Receiving all denunciations, claims, complaints or other situations that are submitted within the scope of this system; > Conducting a brief analysis of the situation that is submitted to it, and issuing an initial opinion in writing, to include a description of the grounds on which it is based, as to the probable truth and consistency of the matter that has been reported to it; > Filing situations that it has grounds to deem inconsistent or to have been reported untruthfully or in bad faith;

> Arquivar as situaes que, fundamentadamente, considere inconsistentes ou efectuadas sem veracidade ou com m f;

P.31

CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

> ANEXO 3 .. ANNEXE 3

> Dar o adequado seguimento s questes que, fundamentadamente, considere consistentes e apresentadas com veracidade e de boa f; > No caso de denncias recebidas pela CAP, preparar relatrio detalhado e fundamentado sobre cada questo investigada e determinar a tomada de medidas adequadas ao caso concreto, quer atravs de inqurito disciplinar ou directamente por via de procedimento disciplinar ou ainda mediante participao criminal, se tal for a situao;

> Ensuring the appropriate follow-up to issues which it has grounds to deem consistent and to have been reported truthfully and in good faith; > In the case of denunciations received by the RAC, drawing up a detailed report, to include the grounds on which it is based, on each issue it has investigated, and ordering the taking of measures that are appropriate in the specic case before it, either in the shape of a disciplinary inquiry, or by directly instituting disciplinary proceedings, or by making a criminal complaint to the authorities if the situation warrants it; > In the case of denunciations received by the legal rm, the latter will present the Chairman of EUROZINC with a detailed report, to include the grounds on which it is based, on each issue it has investigated. When a denunciation or complaint involves members of the Companys governing bodies, the Chairman of EUROZINC will decide upon the measures that are to be taken under the terms of Group policy, without prejudice to any civil and/or criminal liability which the specific situation may entail under Portuguese Law.

Relativamente s situaes que compreendam apenas Directores, a sociedade de Advogados dirigir relatrio especco ao Presidente do Conselho de Administrao da SOMINCOR, o qual, conjuntamente e com a concordncia do Administrador Delegado, determinar o procedimento disciplinar ou criminal a seguir, se a concluso respectiva for nesse sentido. > Com periodicidade trimestral, coincidindo com o trimestre de cada ano civil, cada uma das estruturas de anlise das participaes enviar ao Audit Committee da EUROZINC relatrio sumrio das queixas, denncias e/ou reclamaes recebidas, bem como o tratamento que s mesmas foi dado. ACESSO AO SISTEMA O sistema estar acessvel atravs de uma linha telefnica, a seguir identicada, localizada no Canad, a qual ser atendida em Portugus.

clude, will decide upon the disciplinary or criminal proceedings that are to be pursued.

In situations that only concern Managers the legal rm will send a specic report to the Chairman of SOMINCORs Board of Directors, who, together with and with the agreement of the Managing Director and if they so con-

> No caso das denncias recebidas pela Sociedade Advogados, esta apresentar ao Chairman da EUROZINC relatrio detalhado e fundamentado sobre cada questo investigada. Quando as denncias ou queixas envolvam membros dos orgos sociais, o Chairman da EUROZINC determinar as medidas a aplicar nos termos da poltica de grupo, sem prejuzo da responsabilidade civil e/ou criminal, que a situao concreta possa envolver em face da Lei Portuguesa.

> Once every calendar quarter each of the bodies responsible for analysing reports, claims and complaints will send EUROZINCs Audit Committee a summary report on all the reports, claims and complaints it has received, together with an indication of how they have been dealt with. ACCESS TO THE SYSTEM It will be possible to access the system by an international telephone number indicated bellow, which is located in Canada, and which is answered in Portuguese. Telephone number + 1 866 334 7128

Nmero de telefone + 1 866 334 7128

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P.33

CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

> ANEXO 3 .. ANNEXE 3

A linha telefnica ter atendimento pessoal entre as 14:00h e as 21:00h (hora de Lisboa) (ou seja entre as 09:00h e as 16:00h, Canad - Eastern Standard Time); fora desse horrio, as chamadas telefnicas sero recebidas por um atendedor de chamadas automtico; > A linha de atendimento no ter identicador de chamadas ou outro meio que possa identicar a origem da chamada; > Ao ligar para o nmero de telefone indicado, ter que identicar o nome da Empresa focada na queixa, o nome da pessoa ou pessoas suspeitas de m conduta e a respectiva posio na Empresa; > Se for atendido pelo atendedor de chamadas, dever deixar uma mensagem detalhada e um nmero de contacto ou voltar a ligar durante o perodo de atendimento pessoal, de modo a assegurar a oportunidade de falar com a pessoa que pode receber a denncia; > importante fornecer a informao mais detalhada e precisa possvel sobre o assunto, de modo a que o mesmo seja rpida e apropriadamente investigado.
P.34

> The telephone line will be manned between 2 p.m. and 9 p.m. Lisbon time, which is to say between 9 a.m. and 4 p.m. Canada (Eastern Standard) time; outside these times telephone calls will be answered by an automatic answering machine; > The call line will not have a call identier or any other means capable of identifying the origin of the call; > When a person calls the telephone line he/she must give the name of the Company that is involved in the complaint, the name of the person or persons who is/ are suspected of improper conduct, and the latters position(s) in the Company; > If the call is answered by an answering machine the caller must either leave a detailed message and a contact number, or call again during the period when the line is manned, so as to be able to talk to the person who can receive the denunciation; > It is important to provide as much information about the matter in question as possible, so that it can be quickly and suitably investigated.

O sistema est construdo de forma a garantir a absoluta condencialidade quanto aos autores das denncias, queixas ou reclamaes, bem como o teor das mesmas. No caso de acesso ao sistema de forma annima, no haver qualquer possibilidade de resposta ao denunciante ou queixoso, se o prprio no fornecer os adequados canais para o efeito. PROTECO E SANO DOS COLABORADORES QUE ENCAMINHEM ASSUNTOS ATRAVS DO SISTEMA Ser plenamente garantido que todas as queixas e participaes, apresentadas com veracidade e de boa f, sero convenientemente tratadas no mbito deste sistema, sendo a identidade dos seus autores, quando conhecida, mantida condencial, a no ser que os prprios inequivocamente pretendam e declarem o contrrio. Em caso algum, ser tolerada qualquer represlia contra os autores das denncias, queixas ou reclamaes.

The system is designed in such a way as to guarantee absolute condentiality in relation to both the authors of denunciations, complaints and claims, and the content thereof. In the event that the system is accessed anonymously it will be impossible to reply to the person who makes the denunciation or complaint, unless he/she provides suitable channels via which to do so. PROTECTING AND SANCTIONING STAFF WHO RAISE MATTERS VIA THE SYSTEM

Every guarantee will be given that all the complaints and reports that are submitted truthfully and in good faith will be appropriately dealt with within the scope of this system. The identity of their authors - when known - will be kept condential, unless they themselves unequivocally wish and declare otherwise. Under no circumstance whatsoever will any reprisals against the authors of denunciations, complaints or claims be tolerated.

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CDIGO DE CONDUTA EMPRESARIAL CODE OF CORPORATE CONDUCT

> ANEXO 3 .. ANNEXE 3

Ser considerada falta grave qualquer aco contra o trabalhador que recorra a este sistema, que envolva ou represente ameaa, discriminao ou retaliao, ou por qualquer forma, se reicta na sua instabilidade funcional. A denncia de prticas indevidas levadas a cabo com falsidade ou m f ser passvel das adequadas medidas disciplinares ou penais. ENQUADRAMENTO LEGAL O tratamento jurdico das questes que decorram deste sistema ser efectuado nos termos da Lei Portuguesa.

Any action which is taken against a member of staff who resorts to this system and which involves or represents a threat, discrimination or retaliation or in any way causes instability in his/her functions, will be deemed to be a serious offence. Denunciations of improper practices that are made falsely or in bad faith will be subject to the appropriate disciplinary or penal measures. LEGAL FRAMEWORK The issues that arise out of this system will be dealt with in accordance with Portuguese Law.

Aprovado pelo Conselho de Administrao da SOMINCOR em 18 de Novembro de 2005. Aprovado pela Comisso de Governo Empresarial e pelo Conselho de Administrao da EUROZINC em 21 de Novembro de 2005. P.36

Approved by SOMINCOR Board of Directors on 18 November 2005 Approved by EUROZINC Corporate Governance Committee and Board of Directors on 21 November 2005