Genmin Limited
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Received a certificate of environmental conformance (environmental approval) for the Baniaka iron ore project.
- Secured a 20-year agreement for the supply of clean, renewable electricity for Baniaka.
- Achieved an inaugural ESG rating of BB from Digbee ESG™.
Social Achievements
- Voluntary commitment to set aside 0.5% of gross revenue from Baniaka for social and community investment programs.
- Refurbishment of the Boumango Medical Facility.
- Educational sponsorships and support of inclusive community events.
Governance Achievements
- Adherence to the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations (4th Edition).
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Commencement of production at Baniaka by mid-2025.
Environmental Challenges
- Commodity price volatility.
- Securing US$200-250 million in funding for Baniaka development.
- Transition to civilian government in Gabon.
- Attracting and retaining key personnel.
- Managing community and social expectations.
Mitigation Strategies
- Completed a successful AU$23.4 million fundraising to become debt-free and provide working capital.
- Engaged with potential financing partners for Baniaka.
- Monitoring the political situation in Gabon and adapting as needed.
- Focusing on attracting and retaining skilled staff.
- Implementing community and social investment programs.
Supply Chain Management
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used:
Certifications: Digbee ESG™
UN Sustainable Development Goals
- Not disclosed
Sustainable Products & Innovation
- Baniaka Green® iron ore products
Awards & Recognition
- Not disclosed