Euro Sun Mining Inc.
Climate Impact & Sustainability Data (2023-01-01 to 2023-06-30, 2023-03-31, 2024)
Reporting Period: 2023-01-01 to 2023-06-30
Environmental Metrics
Waste Generated:Approximately 43 million tonnes or 19% less waste material expected to be mined resulting in a 1.45:1 strip ratio over LOM
ESG Focus Areas
- Environmental Permitting
- Community Engagement
- Environmental Compliance
Environmental Achievements
- Renewal of Certificate of Urbanisation for two years (July 2023)
- Dry stack tailings and cyanide-free operation at Rovina Valley Project
Social Achievements
- Proactive local stakeholder engagement program including community meetings, public information center, and partnerships with NGOs
- Good relations with the community allowing unhindered surface access for drilling
Governance Achievements
- Appointment of Kenny Choi as Corporate Secretary (January 31, 2023)
- Cluj County court dismissed grounds for suspension of environmental license (later overturned on appeal)
Climate Goals & Targets
Short-term Goals:
- Complete remaining two approvals for the PUZ approval process
Environmental Challenges
- Legal challenge to environmental license (Asociatia Declic)
- Challenging market conditions to raise finance for development stage mining projects
- Potential revocation or change in permit requirements and project approvals
Mitigation Strategies
- Filed evidence with Cluj County court to respond to action for annulment of environmental license
- Continuing fundraising efforts
- Diligent work with local and national authorities for timely approval of PUZ and EIA permits
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: NI 43-101
Reporting Period: 2023-03-31
Environmental Metrics
Waste Generated:Approximately 43 million tonnes or 19% less waste material expected to be mined resulting in a 1.45:1 strip ratio over LOM
ESG Focus Areas
- Environmental Permitting
- Community Engagement
- Environmental Impact Assessment
Environmental Achievements
- Completed updated Definitive Feasibility Study incorporating dry stack tailings and cyanide-free operation; advancing Environmental Assessment studies for land re-zoning and environmental permitting
Social Achievements
- Maintains proactive local stakeholder engagement program including community meetings, public information center, and partnerships with local NGOs and community leaders.
Governance Achievements
- Appointment of Kenny Choi as Corporate Secretary; Cluj County court dismissed grounds for suspension of environmental license (later overturned on appeal, but the company will continue to protect its rights).
Climate Goals & Targets
Short-term Goals:
- Complete remaining approvals for PUZ approval process
Environmental Challenges
- Legal challenge to environmental license resulting in temporary suspension; challenging market conditions to raise finance for development stage mining projects; International conflict and geopolitical uncertainty impacting commodity prices and supply chains.
Mitigation Strategies
- Filing evidence with Cluj County court to respond to action for annulment of environmental license; pursuing fundraising to support permitting, operations, and engineering; monitoring the situation and adapting to the evolving geopolitical landscape.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: NI 43-101
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Low-impact mining approach with concurrent revegetation, minimizing environmental impact. 300% more forest to be planted than legally required.
- Cyanide-free processing, reducing chemical use and mitigating impurity penalties.
Social Achievements
- Local community buy-in at all administrative levels; local communities actively involved in mining license design.
- Most current vendors and consultants from the local community and county.
- Company actively supports healthcare and physical activity within the local population.
- Commitment to improving gender equality across the mine life.
Governance Achievements
- Executive team and Board with extensive global mining experience.
- Clear ESG commitments aligned to the United Nations Sustainable Development Goals.
- Mining license ratified by the national government.
Climate Goals & Targets
Long-term Goals:
- Potential for 30-35 year mine life (including Ciresata)
Short-term Goals:
- First production in 2026/2027
Environmental Challenges
- Potential for supply chain disruptions (implied by discussion of sourcing responsible alternatives outside of China and DRC)
- Fluctuations in gold and copper prices
- Exploration and development risks
- Environmental liabilities and regulatory requirements
Mitigation Strategies
- Low-impact mining approach to minimize environmental impact
- Cyanide-free processing to reduce environmental risks
- Strong stakeholder support due to best-practice local community engagement
- Compliance with EU regulations and Romanian mining law
Supply Chain Management
Responsible Procurement
- Most current vendors and consultants from local community and county
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: UN Sustainable Development Goals