Climate Change Data

Environmental Metrics

ESG Focus Areas

• Health and safety
• Environmental responsibility
• Community support

Environmental Achievements

• Finalised Environmental Social Impact Assessment (‘ESIA’) and Relocation Action Plan (‘RAP’) for submission to the National Environment Management Council (‘NEMC’)

Social Achievements

• Appointed a community liaison officer to aid understanding of the impact and benefits of mining in the region
• Contributed funds to the local primary school for food and other needs

Governance Achievements

• Applied the Quoted Companies Alliance (“QCA”) Corporate Governance Code

Climate Goals & Targets

Environmental Challenges

• Risks associated with the mineral industry, especially in Africa
• Vulnerability to global energy policies due to graphite market dependence
• Impact of Brexit
• Technical risks, infrastructure risks and logistical challenges in mineral resource exploration and development
• Availability and access to future funding
• Changes in government policies in multiple national jurisdictions
• Mining regulation changes in Tanzania
• Impact of COVID-19 pandemic

Mitigation Strategies

• Proactive management to reduce fixed costs
• Rationalisation of all capital expenditures
• Maintaining strong relationships with government
• Engagement with local communities
• Alternative and continued funding activities
• Reduced Directors and office holders fees by 50% for an initial period of 3 months from April 2020
• Regular monitoring of risks and taking appropriate actions to mitigate them
• Compliance with the terms of its agreements and application of appropriate policies and procedures

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Corporate Governance Code

Environmental Metrics

ESG Focus Areas

• Health and safety
• Environmental responsibility
• Community support

Environmental Achievements

• Environmental and Social Impact Assessment ('ESIA') formally granted by National Environment Management Council ('NEMC') of Tanzania

Social Achievements

• Engagement with local communities to ensure our activities provide value to the communities where we operate.
• Employing local staff and partial government ownership

Governance Achievements

• The Company has published its compliance with each of the 10 principles of the QCA Code on the Company’s website, including reasons for departure with certain principles.

Climate Goals & Targets

Environmental Challenges

• The COVID-19 pandemic has risks for the Group in terms of its ability to travel to and from its projects and ability for key personnel to access its projects.
• The Group is exposed to graphite. Graphite is a relatively new commodity whose market is being driven by demand in renewable energy. It is thus vulnerable to global energy policies.
• In order to achieve its long term strategy of developing its exploration project, the Group depends on the availability of and access to future funding within the global economic environment.
• The exploration for and development of mineral resources involves technical risks, infrastructure risks and logistical challenges, which even a combination of careful evaluation and knowledge may not eliminate.
• The Group operates in multiple national jurisdictions and is therefore vulnerable to changes in government policies which are outside its control.

Mitigation Strategies

• Proactive management to reducing fixed costs.
• Rationalisation of all capital expenditures.
• Maintaining strong relationships with government (employing local staff and partial government ownership), which improves the Group’s position as a preferred small mining partner.
• Engagement with local communities to ensure our activities provide value to the communities where we operate.
• Alternative and continued funding activities with a number of options to secure future funding to continue as a going concern.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Corporate Governance Code

Environmental Metrics

ESG Focus Areas

• Sustainable Development
• Health and safety
• Environmental responsibility
• Community support

Environmental Achievements

• Environmental and Social Impact Assessment ('ESIA') formally granted by National Environment Management Council ('NEMC') of Tanzania in March 2021.

Social Achievements

• Engagement with local communities to ensure activities provide value to the communities where we operate.
• Appointment of a local manager in Liandu who provides information to the community about intended project activities and manages local affairs and feedback to the Company.

Governance Achievements

• The Company has chosen to apply the Quoted Companies Alliance (“QCA”) Corporate Governance Code.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting travel to and from projects and access for key personnel.
• Exposure to graphite market vulnerability to changing global energy policies.
• Impact of Brexit on UK operations.
• Exploration and development risks (technical, infrastructure, logistical).
• Availability and access to future funding.
• Vulnerability to changes in government policies in multiple jurisdictions.
• Exposure to gold price fluctuations and US dollar variations.

Mitigation Strategies

• Proactive management to reduce fixed costs.
• Rationalisation of capital expenditures.
• Maintaining strong relationships with governments.
• Engagement with local communities.
• Alternative and continued funding activities.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Corporate Governance Code