Mineral Commodities Ltd
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Environmental management
- Good corporate citizenship
- Long-term sustainable value for all stakeholders
- Procurement and employment equity
- Economic growth through support of small, medium and micro enterprises
- Sustainable mining framework (biodiversity management plan)
- Effective tailings management
- Minimisation of tailings disposal
Environmental Achievements
- Late in Q1 2024, damage to the process water dam liner saw the Company taking immediate action to prevent further deterioration and protect the environment.
- There were no significant environmental incidents during the year.
Social Achievements
- In South Africa, the ESG emphasis is on procurement and employment equity initiatives put in place in accordance with the recommendations of the Mining Charter 2018 and promoting economic growth through the support of small, medium and micro enterprises and suppliers of mining goods and services.
- Tormin will also continue to move towards a shared profitability model with its BEE Entrepreneur, employees and the community through its restructure of shareholding in its holding company Mineral Sands Resources (Pty) Ltd.
- Under the Company’s Social Labour Plan (SLP) at Tormin, the Company has invested circa ZAR5.3 million during the financial year into various learnership, internship and bursary programs to benefit both employees and community students.
Governance Achievements
- Securing 100% of Skaland Graphite AS
- Addressing operational risks at Tormin and Skaland
Climate Goals & Targets
Medium-term Goals:
- Increase Tormin throughput feed capacity to 3.9 Mtpa by Q4 2024.
- Obtain environmental authorisation and mining right for Munglinup by Q4 2024.
Short-term Goals:
- Improve Tormin operational performance in mining and processing plant to return to profitability by June 2024.
- Complete construction of graphite ore-to-battery anode pilot plant before June 2024.
Environmental Challenges
- Significant operational issues at Tormin and Skaland
- Production delays at Tormin due to seawater intake interruption, crusher breakdown, sub-optimal fine tailings removal, and ageing mining fleet.
- Production delays at Skaland due to mining fleet breakdowns, haul road resurfacing, drill rig breakdown, and primary AG mill breakdown.
- SARS disputes on cash receivables necessitating a capital raising.
Mitigation Strategies
- Purchase of a new production drill rig for Skaland
- Evaluating options for replacement and additional trucks, excavators, and other mobile equipment at Tormin
- Introduction of the 3rd PCP at Tormin
- Improved security and capacity of seawater intake at Tormin
- Installation of double efficiency cyclones and other process changes to better handle inland strand slimes at Tormin
- Further work on the design and planning for the tertiary concentration MSP at Tormin
- A$8.8 million capital raised in a rights issue to address accounts payable, working capital needs, and further investment.
Supply Chain Management
Responsible Procurement
- Open, fair and transparent procurement, logistics and supply functions
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: JORC Code (2012)