Climate Change Data

Cobra Resources plc

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:11.4 tCO2e
Scope 1 Emissions:1.8 tCO2e
Scope 2 Emissions:9.5 tCO2e
Total Energy Consumption:36,000 kWh

ESG Focus Areas

  • Environmental Responsibility
  • Community relations
  • Corporate governance

Environmental Achievements

  • Relocated head office to a 100% renewable energy-powered facility
  • Committed to offsetting future international travel
  • Focusing on the Boland ionic REE discovery, amenable to sustainable ISR mining with a low carbon footprint
  • Estimated Global energy consumption for the period, with its total energy consumption being approximately 36,000 kwh (11.4T CO2)

Social Achievements

  • Strives to increase its presence within, and level of communication with, the Wudinna and Streaky Bay Communities by opening a locally based office and proactively engaging and educating the community of our operations and our future ambitions.
  • Actively engages local contractors, supports local business and looks to educate and promote opportunities for local employment that will evolve as our operations expand.

Governance Achievements

  • Established Audit and Remuneration Committees
  • Adopted a share dealing code

Climate Goals & Targets

Medium-term Goals:
  • Evaluate the emissions associated with ISR production at Boland and benchmark those emissions
Short-term Goals:
  • Advance the Boland discovery to a pilot study

Environmental Challenges

  • High degree of risk in mineral exploration and development operations
  • Aggressive competition within the mining industry
  • Significant capital investment required to achieve commercial production
  • Fluctuations in gold and REE prices
  • Government regulations
  • Permitting
  • Environmental and other regulatory requirements
  • Financing
  • Dependence on key personnel
  • Market conditions
  • Foreign currency exchange rate fluctuations
Mitigation Strategies
  • Disciplined and structured exploration and analysis
  • Dual approach to defining mineral resources in both gold and REEs
  • Focusing on low-cost, easily extractable ionic clay-hosted mineralization
  • Targeting critical minerals required for decarbonisation that are amenable to low impact, sustainable mining
  • Using low-impact exploration methods
  • Proactive approach to rehabilitation
  • Environmental studies to advance Insitu recovery potential at the Boland prospect
  • Regular review of market conditions, cash balance, and forward commitments
  • Revision of expenditure commitments, deferral of director payments, and termination of short-term contracts as a means of cash preservation

Supply Chain Management

Responsible Procurement
  • Engaging local contractors and supporting local businesses

Climate-Related Risks & Opportunities

Opportunities
  • Producing rare earth oxides through ISR or from gold overburden
  • Exploring opportunities to produce acid from groundwater and deacidify lixiviants through filtration