Climate Change Data

Environmental Metrics

ESG Focus Areas

• Health, Safety, Environment, and Community (HSEC)
• Human Rights
• Anti-corruption
• Climate & Emissions (future reporting intention)

Environmental Achievements

• Environmental Permit awarded for 25 years (April 2020)
• 15 training courses delivered on environmental protection (66 people, 26 hours)
• Participation in environmental events (Trees Day, Environmental World Day)
• Initiated studies to reduce carbon footprint through iron ore beneficiation (cold pelletisation, dry magnetic separation)

Social Achievements

• 158 community communication meetings (approx. 358 stakeholders)
• Approx. US$15,000 spent on community support (health center, schools)
• HIV/AIDS awareness campaign (30 employees, contractors, and community members)
• Rehabilitation of over 10km of roads

Governance Achievements

• Implemented annual online e-training courses on Code of Conduct, Anti-Corruption, and Conflicts of Interest
• Regular alcohol tests conducted on site

Climate Goals & Targets

Environmental Challenges

• Iron ore price volatility
• Financing the Zanaga Project and the Company's operations
• Risks related to Ore Reserves estimation
• Host country risks (political, regulatory, economic, etc.)
• Transportation and infrastructure challenges
• Environmental risks
• Health and safety risks
• Third-party claims
• Outsourcing risks
• Fluctuation in economic factors (currency exchange rates, inflation, interest rates)
• Limited cash resources

Mitigation Strategies

• Engaged a Chinese EPC partner to optimize project costs (potential savings >20%)
• Discussions underway with port infrastructure development firm
• Subscription Agreement with SMC for funding
• Cash preservation plan
• Review of operational costs
• Exploration of options to raise additional funding
• Compliance with environmental laws and regulations
• Implementation of Fatal Hazard Protocols and 10 Golden Rules
• Directors' and officers' liability insurance
• Ongoing review of risks and uncertainties

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: ISO 14001, IFC’s Performance Standards on Environmental and Social Sustainability, Glencore group’s framework for HSEC and Human Rights