Solway Investment Group

Solway Investment Group (“SIG”) launches an independent investigation of alleged corruption reportedly committed by its two subsidiaries CGN and Pronico in Guatemala

Solway Investment Group, a Swiss company with mining interests around the world, has retained United States law firms Seiden Law Group LLP, Quinn Emanuel Urquhart & Sullivan and Berliner, Corcoran & Rowe to conduct a thorough and independent investigation of the allegations that SIG understands led to the sanctions of its Guatemalan subsidiaries as set forth in the US Treasury Office of Foreign Asset Control (“OFAC”) press release date November 18, 2022

The investigation, led by experienced and respected retired US government investigators has already commenced and will gather information to determine facts that may be relevant to the allegations

The results of the investigation will be presented to the SIG board of directors by them and shared with US and other authorities All significant findings will be dealt with swiftly and decisively, supported by effective remediation initiatives in consultation with outside counsel

In addition, SIG is already communicating through its US counsel with the US Department of the Treasury (OFAC) in an effort to minimize the potentially severe consequences to the workers, business operations and people of Guatemala Two SIG board members already have arrived in Guatemala to ensure that the subsidiaries’ commitments and obligations to employees, local communities, customers, buyers, and other stakeholders will be fulfilled in the best ways possible under the current circumstances and to ensure that the core values of integrity and compliance with the law are being maintained

SIG takes any allegation of impropriety extremely seriously and welcomes any new facts brought to light as a result Based on the investigation outcomes SIG will move quickly and deliberately to make the necessary changes to correct behavior and practices and strengthen governance, business processes and controls

Solway Investment Group’s official statement regarding publications alleging the company’s involvement in a bribing case in Guatemala.

In response to the article “Oro, drogas y sobornos: ¿Qué hay detrás del escándalos de corrupción en Guatemala?” published by the outlet EL SIGLO DE TORREÓN on September 14, 2021 Solway Investment Group denies any involvement in the bribing case described in the article Neither the holding company, nor its…

Mutual Statement by Solway Investment Group and the Salzburg Festival

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Solway Investment Group commences a board-led investigation

In response to the allegations raised by the series of publications initiated by the journalistic consortium Forbidden Stories, Solway Investment Group launches a board-led investigation in the conduct of business by the Solway’s subsidiaries Compania Guatemalteca de Niquel SA (SGN), Compania Procesadora de Niquel de Isabal SA (Pronico), its affiliates,…