Climate Change Data

Environmental Metrics

ESG Focus Areas

• Community Engagement
• Safety

Environmental Achievements

• Not disclosed

Social Achievements

• Over 800 permanent jobs created since production began in 2019, with 41% of those being local and 95% DRC nationals. Almost $2.5 million spent from 2016-2019 on community development projects benefiting over 5,000 households (30,000 persons).

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting commodity prices and supply chains.
• High arsenic levels in concentrate (mitigated with reagent suite modifications).
• Initial difficulties with regional road conditions and export documentation processes, followed by the collapse of the Maiko bridge.
• Liquidity concerns due to low tin prices and debt repayments.

Mitigation Strategies

• Debt restructuring and a private placement to reduce debt and improve liquidity.
• Modifications to the reagent suite to address high arsenic levels.
• Improved documentation cycle time and logistics following bridge repair.
• Focus on achieving full production targets at the lowest possible unit cost.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Adverse climate issues impacting underground mining operations and processing/sales activities.

Transition Risks

• Climate change legislation

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Conflict-free minerals
• Community relations
• Environmental protection

Environmental Achievements

• Commissioning of the fine tin processing plant, increasing overall processing recoveries.
• Received final audit report from the ICGLR Audit Committee establishing ABM’s Exporter Status as Green for a period of three years to March 2025.

Social Achievements

• Paid a maiden dividend of CAD$0.03 per share.
• Court case dismissed in favor of the company regarding claims from artisanal miners.

Governance Achievements

• Initiated a strategic review to explore alternatives to maximize shareholder value.
• No specific governance policies or programs mentioned.

Climate Goals & Targets

Environmental Challenges

• Lower than expected tin grades in June and July 2021 due to localized area of lower grades and sub-optimal mining practices.
• Heavy rains in Q4 2020 resulting in a backlog of concentrate stocks.
• Significant fines and penalties received from various governmental tax authorities (disputed by the company).
• Potential for future court cases related to artisanal miners.
• Risks associated with operating in the DRC, including political instability, conflict, and regulatory uncertainty.
• Dependence on key management and employees.
• Counterparty risk related to the concentrate off-take agreement.
• Foreign exchange risk.
• Climate change risks.
• Resource nationalism.
• Bribery and corruption risks.
• Environmental risks.
• Health and safety risks.
• DRC-specific healthcare challenges.
• Public company obligations.
• Conflicts of interest.
• Volatility in the market price of common shares.
• Dilution to common shares.
• Risks related to inadequate controls over financial reporting.
• Reliance on a single property (Bisie tin project).

Mitigation Strategies

• Improved underground mining practices resulting in better grade control from August 2021 onward.
• Waste development ahead of current mining areas providing flexibility in blending high- and low-grade areas.
• Cleared backlog of concentrate stocks at the start of the year.
• Outbound logistics conditions improved year-on-year.
• Significant capital allocated to expansion projects.
• Dispute of fines and penalties.
• Implementation of policies and procedures to mitigate bribery and corruption risks.
• Regular internal monitoring activities and audits.
• Procedures in place to manage health and safety protocols.
• Continuous investment in health and safety.
• No specific mitigation strategies mentioned for other challenges.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Poor road conditions due to record heavy rainfall negatively impacted truck transit times and export revenue receipts during Q4 2023.
• Logistical delays due to poor inbound road conditions deferred the commencement of Mpama South processing plant commissioning.

Mitigation Strategies

• Road conditions improved significantly by mid-December 2023.
• Mpama South plant commissioning is expected to be completed by end of March 2024, with first tin concentrate production planned for April 2024.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Inclement weather conditions affecting road conditions and operations.