Climate Change Data

Environmental Metrics

ESG Focus Areas

• Safety
• Health
• Environment
• Community
• Economic Development
• Social Development
• Environmental Protection
• Governance
• Climate Change
• Sustainable Development
• Indigenisation
• Empowerment
• Beneficiation

Environmental Achievements

• Water recycled increased from 45% to 46%
• 12 hectares of mined-out pits area rehabilitated
• Successfully recertified to ISO 14001:2015
• 32.87 hectares of invasive alien species (Lantana camara) cleared

Social Achievements

• US$4 million spent on social investment projects
• Local procurement at 60% of total spend
• 308 houses handed over for occupation in Ngezi housing project
• 22 SMEs supported through the LED programme, creating 3038 jobs

Governance Achievements

• Complied with ASX Corporate Governance Principles and Recommendations, Fourth Edition
• Complied with King IV Report on Corporate Governance for South Africa
• Successfully completed board effectiveness and performance evaluation

Climate Goals & Targets

Environmental Challenges

• One fatality and five lost-time injuries recorded
• Falling metal prices resulting in lower revenue
• Rising input costs and global supply chain disruptions
• Foreign currency availability
• Supply chain disruptions
• Covid-19 pandemic
• Power supply risks
• Taxation matters

Mitigation Strategies

• Remedial action plans implemented to improve safety performance
• Investment in capital projects to maintain and expand operations
• Implementation of operational excellence strategies
• Engagement with government for improved foreign currency retention
• Exploration of alternative source markets for critical supplies
• Local enterprise development and import substitution
• Covid-19 management procedures
• 100% Covid-19 vaccination among employees and contractors
• Active engagement with ZIMRA to resolve tax issues
• 185MW solar power project to mitigate power supply risk

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Local enterprise development (LED) programme

Climate-Related Risks & Opportunities

Physical Risks

• Low dam levels due to adverse climate

Transition Risks

• Not disclosed

Opportunities

• 185MW solar power project

Reporting Standards

Frameworks Used: GRI Standards: Core Option

Certifications: ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, ISO 17025:2017

Third-party Assurance: Ernst & Young Chartered Accountants (Zimbabwe)

UN Sustainable Development Goals

• SDG 1
• SDG 2
• SDG 3
• SDG 4
• SDG 6
• SDG 7
• SDG 8
• SDG 9
• SDG 10
• SDG 11
• SDG 12
• SDG 13
• SDG 15

Various initiatives aligned with SDGs as detailed in the report

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Sustainable development
• Climate change
• ESG

Environmental Achievements

• 100% of its employees and contractors were vaccinated at operations.

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Challenging economic environment
• Impact of the continuing Russia and Ukraine war
• Covid-19 pandemic

Mitigation Strategies

• Best-practice measures and processes put in place in prior periods remained active throughout the year.
• The Company remained vigilant and shall continue to implement the health and safety guidelines set out in the Code of Practice informed by any laws gazetted by the government from time to time, and/or issued by the World Health Organisation.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: IFRS

Certifications: Null

Third-party Assurance: Deloitte and Touche Chartered Accountants (Zimbabwe)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Safety
• Health
• Environment
• Community Development
• Economic Empowerment
• Climate Action
• Water Stewardship
• Diversity and Inclusion

Environmental Achievements

• Reduced CO2 emissions per tonne of ore milled by 60% to 0.02 in FY2024 (FY2023: 0.05)
• Reduced SO2 emissions by 5% to 23,256 tonnes (FY2023: 24,420 tonnes)
• Rehabilitated 9.1 hectares of open pit working areas
• Revegetated 1.2 hectares of tailings storage facilities
• Commissioned the first phase of a 185MWAC solar plant (35MWAC)
• Completed the SMC TSF extension project phase 1

Social Achievements

• Implemented a psycho-social awareness program focusing on drug and alcohol abuse, financial literacy, chronic illnesses, and gender-based violence
• No cholera cases recorded among employees and contractors despite a resurgence in host communities
• Increased local procurement to 51% (FY2023: 47%)
• Invested US$0.9 million in social investment projects (FY2023: US$4.7 million)
• Handed over several completed community projects including classrooms, clinic upgrades, and a police station

Governance Achievements

• Retained ISO 14001:2015, ISO 45001:2018, and ISO 9001:2015 certifications
• Reduced non-executive director fees by 10% effective 1 April 2024
• Implemented a comprehensive compliance framework

Climate Goals & Targets

Environmental Challenges

• One fatality and two lost-time injuries recorded
• Depressed PGM prices resulting in reduced revenue and profit
• Inadequate funding for growth and operational requirements
• Power supply risks due to national power deficits
• Policy inconsistency and uncertainty
• Foreign currency availability and local currency instability
• Water scarcity due to El Niño-induced drought
• Cybersecurity risks
• Taxation risks
• Supply chain disruptions

Mitigation Strategies

• Deploying appropriate technology and reinforcing safety culture
• Implementing cost-saving initiatives and cash preservation measures
• Securing power imports and investing in renewable energy (solar plant)
• Regular engagements with authorities to bring certainty to key government policies
• Enhancing treasury management practices and import substitution
• Increasing cybersecurity awareness and strengthening system security
• Utilising technical advice and active tax planning
• Reviewing stock holding and exploring alternative sourcing strategies

Supply Chain Management

Responsible Procurement

• Prioritisation of local and host community enterprises
• Support for women and youth enterprises
• Compliance with ESG goals

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Water scarcity
• Decreased ore quality

Transition Risks

• Technological changes
• Policy and regulatory changes

Opportunities

• Renewable energy adoption
• Climate-resilient infrastructure

Reporting Standards

Frameworks Used: GRI Standards (2021), IFRS Sustainability Disclosures (2023) (partial), King IV Report on Corporate Governance for South Africa, ASX Corporate Governance Principles and Recommendations

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 17025:2018, ISO 45001:2018

Third-party Assurance: Ernst & Young (EY) Zimbabwe Chartered Accountants

UN Sustainable Development Goals

• SDG 6 (Clean Water and Sanitation)
• SDG 8 (Decent Work and Economic Growth)
• SDG 13 (Climate Action)
• SDG 15 (Life on Land)

Initiatives contribute to these goals through water provision, economic empowerment, renewable energy adoption, and biodiversity conservation

Awards & Recognition

• Exporter of the Year Award
• Best Mining CSR Award
• Environmental, Social and Governance Award
• Best Corporate Shared Value Collaboration of the Year Award
• Buy Zimbabwe Corporate Social Responsibility Award
• Buy Zimbabwe Mining Company of the Year Award