Speciality Metals International : Appendix 4G and Corporate Governance Statement

ABN: 77 115 009 106 (ASX: SEI)

26 October 2020

Company Announcements Office

ASX Limited

Exchange Centre

20 Bridge Street

SYDNEY NSW 2000

Appendix 4G and 2020 Corporate Governance Statement

In accordance with Listing Rules 4.7.3 and 4.7.4, Speciality Metals International Limited attaches a copy of its 2020 Corporate Governance Statement and Appendix 4G for release to the market.

Release of market announcement authorised by:	Further Enquiries:
Suzanne Irwin	Peter Taylor
Company Secretary	Investor Relations
Speciality Metals International Limited	0412 036 231
	[e-mail]

About the Company

Speciality Metals International Limited is an ASX-listed company transforming its world-class tungsten assets at Mt Carbine in North Queensland; leveraging advanced technology, historical stockpiles and unexploited resource with the aim of being the pre-eminent tungsten producer in Australia. The Company also holds gold exploration licences in New South Wales. The Company aims to create shareholder value through the exploration and development of its current portfolio whilst continuing to evaluate corporate and exploration opportunities within the new economy and critical minerals sector.

REGISTERED OFFICE: Office 06-110, Level 6 25 King Street, Bowen Hills Queensland 4006

PRINCIPAL PLACE OF BUSINESS: 6888 Mulligan Highway, Mt Carbine Qld 4871

POSTAL ADDRESS: PO Box 1496, Mareeba Qld 4880

T: [phone] F: [phone] W: specialitymetalsintl.com.au

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SPECIALITY METALS INTERNATIONAL LIMITED

ABN 77 115 009 106 (COMPANY)

CORPORATE GOVERNANCE STATEMENT - FOR THE FINANCIAL YEAR ENDING 30 JUNE 2020

This Corporate Governance Statement is current as at 23 September 2020 and has been approved by the Board of the Company on that date.

This Corporate Governance Statement discloses the extent to which the Company has, during the financial year ending 30 June 2020 ("reporting period"), followed the recommendations set by the ASX Corporate Governance Council in its publication Corporate Governance Principles and Recommendations (3rd Edition) (Recommendations). The Recommendations are not mandatory, however the Recommendations that have not been followed for any part of the reporting period have been identified and reasons provided for not following them along with what (if any) alternative governance practices were adopted in lieu of the recommendation during that period.

The Company has adopted a Corporate Governance Plan which provides the written terms of reference for the Company's corporate governance duties. The Company's Corporate Governance Plan is available on the Company's website at http://www.specialitymetalsintl.com.au.

	RECOMMENDATIONS (3RD EDITION)			COMPLY			EXPLANATION
	Principle 1: Lay solid foundations for management and oversight
	Recommendation 1.1						The Company has adopted a Board Charter that sets out the specific roles
	A listed entity should have and disclose a charter which sets out the			YES			and responsibilities of the Board, the Chair and management and includes
					a description of those matters expressly reserved to the Board and those
	respective roles and responsibilities of the Board, the Chair and
						delegated to management.
	management, and includes a description of those matters expressly
	reserved to the Board and those delegated to management.						The Board Charter sets out the specific responsibilities of the Board,
							requirements as to the Board's composition, the roles and responsibilities of
							the Chairman and Company Secretary, the establishment, operation and
							management of Board Committees, Directors' access to Company records
							and information, details of the Board's relationship with management, details
							of the Board's performance review and details of the Board's disclosure
							policy.
							A copy of the Company's Board Charter, which is part of the Company's
							Corporate Governance Plan, is available on the Company's website.

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	RECOMMENDATIONS (3RD EDITION)			COMPLY					EXPLANATION
	Recommendation 1.2						(a) The Company	has guidelines for the appointment and selection of
	A listed entity should:			YES				the Board in	its Corporate Governance Plan. The Company's
						Remuneration & Nomination Committee Charter (in the Company's
	(a) undertake appropriate checks before appointing a person, or
							Corporate Governance Plan) requires the Remuneration & Nomination
	putting forward to security holders a candidate for election, as a							Committee to ensure appropriate checks (including checks in respect of
	Director; and							character, experience, education, criminal record and bankruptcy
	(b) provide security holders with all material information relevant to							history, as appropriate) are undertaken before appointing a person, or
							putting forward to security holders a candidate for election, as a Director.
	a decision on whether or not to elect or re-elect a Director.
							(b)	Under the Remuneration & Nomination Committee Charter, all material
								information relevant to a decision on whether or not to elect or re-elect a
								Director must be provided to security holders in the Notice of Meeting
								containing the resolution to elect or re-elect a Director.
	Recommendation 1.3						The Company's Remuneration & Nomination Committee Charter requires
	A listed entity should have a written agreement with each Director			YES			the Remuneration & Nomination Committee to ensure that each Director and
					senior executive is a party to a written agreement with the Company which
	and senior executive setting out the terms of their appointment.
						sets out the terms of that Director's or senior executive's appointment.
							The Company has had written agreements with each of its Directors and
							senior executives for the past financial year.
	Recommendation 1.4						The Board Charter outlines the roles, responsibility and accountability of
	The Company Secretary of a listed entity should be accountable			YES			the Company Secretary. In accordance with this, the Company Secretary is
					accountable directly to the Board, through the Chair, on all matters to do
	directly to the Board, through the Chair, on all matters to do with the
						with the proper functioning of the Board.
	proper functioning of the Board.

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RECOMMENDATIONS (3RD EDITION)

COMPLY

EXPLANATION

Recommendation 1.5

(a)

The Company has adopted a Diversity Policy which provides a

A listed entity should:

PARTIALLY

framework for the Company to

establish and achieve measurable

diversity objectives,

including

in respect of

gender diversity.

(a)

have a diversity policy which includes requirements for the

The Diversity Policy allows the Board to set measurable gender

Board or a relevant committee of the Board to set measurable

diversity objectives, if considered appropriate, and to assess annually

objectives for achieving gender diversity and to assess annually

both the objectives (if any have been set) and the Company's progress

both the objectives and the entity's progress in achieving them;

in achieving them.

(b)

disclose that policy or a summary or it; and

(b) The Diversity Policy is available, as part of the Corporate Governance

(c)

disclose as at the end of each reporting period:

Plan, on the Company's website.

(i) the measurable objectives for achieving gender diversity set

(c)

(i) The Board did not set measurable gender diversity objectives for

the past financial year, because:

by the Board in accordance with the entity's diversity policy

and its progress towards achieving them; and

• the Board did not anticipate there would be a need to appoint any

(ii) either:

new Directors or senior executives due to limited nature of the

Company's existing and proposed activities and the Board's view

(A) the respective proportions of men and women on the

that the existing Directors and senior executives have sufficient

Board, in senior executive positions and across the

skill and experience to carry out the Company's plans; and

whole organisation (including how the entity has

• if it became necessary to appoint any new Directors or senior

defined "senior executive" for these purposes); or

executives, the Board considered the application of a measurable

(B) if the entity is a "relevant employer" under the

gender diversity objective requiring a specified proportion of

Workplace Gender Equality Act, the entity's most

women on the Board and in senior executive roles will, given

recent "Gender Equality Indicators", as defined in the

the small size of

the Company and the

Board, unduly limit

Workplace Gender Equality Act.

the Company from applying the Diversity Policy as a whole and

the Company's policy of appointing based on skills and merit.

(ii) The Company did not have any women on the Board or in senior

executive positions at the end of the reporting period.

37.5% of employees of the Company and its wholly-owned

subsidiaries were women. In the retreatment plant joint venture in

which the company has an interest of 50%, 10% of employees were

women.

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