Nord Gold N.V.
Climate Impact & Sustainability Data (2013)
Reporting Period: 2013
Environmental Metrics
ESG Focus Areas
- Safety performance
- Operational efficiency
- Responsible mining and sustainable development
- Community engagement
- Employee engagement
- Environmental management
Environmental Achievements
- Implemented formal environmental management systems at all operations
- Continued revegetation programs at African operations
- Internally assessed operating practices for compliance with the International Cyanide Code
Social Achievements
- Launched Bissa mine with exemplary safety record (one minor lost time injury)
- Improved LTIFR by 15% (1.51 vs 1.77 in 2012)
- Invested US$155 thousand in supporting local communities
- Implemented a saponification (soap-production) project creating income-generating activities for women
- Implemented a market gardening project providing consultative and technical assistance to local farmers
Governance Achievements
- Strengthened senior management operating team
- Introduced quarterly interim dividend payment
- Adopted a Corporate Code of Ethics and Business Conduct Standard
- Adopted an Anti-Bribery and Corruption Policy
- Established a whistleblowing policy with an independent international telephone hotline
Climate Goals & Targets
Medium-term Goals:
- Target production of over 1 Moz of gold by 2017 (Gross project)
Short-term Goals:
- All operating mines to become free cash flow positive in 2014
- Achieve LTIFR of 1.36 in 2014
- Zero fatalities in 2014
Environmental Challenges
- Challenging year for the gold market (gold price dropped nearly 16%)
- Unplanned maintenance at Taparko mine
- Lower ore tonnes mined at Lefa
- Lower ore mined grade at Suzdal
- Grade reduction of ore mined at Buryatzoloto
- Two fatalities
- Malaria prevention and treatment at African mines
- Political instability, crime and corruption in operating regions
- Poor relationships with local communities
- Economic instability in operating regions
Mitigation Strategies
- Implemented cost-savings initiatives (Business System of Nordgold, BSN, saved over US$80 million)
- Metallurgical initiatives to improve plant performance at Taparko
- Turnaround programme at Lefa mine (detailed geological model, capital repairs, conveyor system upgrade)
- Modernising production processes and upgrading equipment at Buryatzoloto
- Thorough investigation of fatalities and implementation of preventative measures
- Comprehensive measures to ensure employee and community health (malaria control programs)
- Maintaining stable relationships with governments and regulatory bodies
- Focusing on long-term relationships with local communities
- Using deposit and borrowing facilities at best-market terms and regularly revising capital project plans
Supply Chain Management
Responsible Procurement
- Using a tender process for all suppliers
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI G3.1 Guidelines and Metals and Mining Sector Supplement, International Integrated Reporting Standard, IFRS
Certifications: OHSAS 18001:2007
Third-party Assurance: Deloitte (financial data only)