FIRST TIN PLC
Climate Impact & Sustainability Data (2021)
Reporting Period: 2021
Environmental Metrics
ESG Focus Areas
- Environmental responsibility
- Zero-carbon emissions
- Conflict-free tin production
- Sustainable tin production
Environmental Achievements
- Committed to being a zero-carbon emissions company
- Applies stringent environmental controls and procedures to minimise and mitigate its impact on land, water, air quality, climate, and biodiversity
Social Achievements
- Strengthened internal communications to keep employees informed
- Maintains positive relationships with local communities
Governance Achievements
- Adopted the Quoted Companies Alliance Corporate Governance Code
- Established an ESG committee
- Adopted a zero-tolerance policy toward bribery
- Adopted a share Dealing Code for the Board
Climate Goals & Targets
Long-term Goals:
- Zero-carbon emissions company
Environmental Challenges
- Dependence on two projects
- Maintaining existing licenses and acquiring future necessary licenses and permissions
- Requirement for further capital
- Dependence on global tin prices
- Risks inherent in mineral exploration and development
- Litigation risk
- Mining industry risks and hazards
- Foreign exchange risk
Mitigation Strategies
- Successfully closed a £6m equity financing in April 2021
- Successfully secured a new exploration licence (Auersberg)
- Completed IPO raising £20 million
- Developed financial projections and plans for at least 12 months
- Purchased Directors’ and Officers’ liability insurance
- Adopted stringent environmental controls and procedures
- Implemented a zero-tolerance policy toward bribery
- Implemented a share Dealing Code for the Board