Eastern Platinum Limited
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Safety
- Health
- Environment
- Social Responsibility
- Local Employment
- SMME Business Development
- Community Investment
Environmental Achievements
- Chrome Recovery Plant commissioned in December 2018
- Ongoing optimization project to improve efficiency of chrome plant (delayed due to COVID-19)
- Installation of additional equipment to further improve the efficiency of the chrome plant started.
Social Achievements
- Created at least 1,400 jobs
- Stakeholder forums in place and operating well
- Trained 56 local businesses in tendering, financial management, marketing, etc.
- Committed spending 1% of EBIT on water, education, and sanitation projects
- Mentoring program starting in 2023
Governance Achievements
- Rights offering closed in January 2021, raising C$11.8M
- Maroelabult property sold in March 2022 for R20.0M (US$1.4M)
- Investec bridge financing pipeline finance facility closed in November 2022 (C$8.3M)
Climate Goals & Targets
Long-term Goals:
- 22-year Life of Mine for Zandfontein Underground
Medium-term Goals:
- Complete chrome and PGM optimization and expansion (2024)
Short-term Goals:
- Restart Zandfontein underground operations (Q4 2022)
Environmental Challenges
- COVID-19 related delays in chrome plant optimization
- Union Goal US$17 million outstanding overdue payable to Barplats
- Market conditions and PGM basket price impacting economic viability of some projects
Mitigation Strategies
- Free market chrome concentrate sales to offset Union Goal debt
- Rights offering in May 2023 raised C$7.0M to support Zandfontein restart
- Investec bridge financing pipeline finance facility secured
Supply Chain Management
Responsible Procurement
- SMME business development program