Climate Change Data

Environmental Metrics

ESG Focus Areas

• Safety
• Health
• Environment

Environmental Achievements

• Achieved 95% milestone for reducing respirable crystalline silica levels below occupational exposure limits

Social Achievements

• Zero fatalities for FY2020, achieving five-year fatality-free performance
• Implemented Thusanang Wellness Programme, including COVID-19 Hotline and Peer Educator Programme
• Provided water for the nearby community of Mmaditlhokwa for domestic purposes

Governance Achievements

• Established a COVID-19 Committee to ensure compliance with regulations
• Established a mine Safety, Health and Environment (SHE) Committee
• Annual review and update of SHE policy

Climate Goals & Targets

Environmental Challenges

• Water scarcity (potential constraint on production and future expansion)
• Reliability of water infrastructure
• Energy supply interruptions (affecting production efficiencies and worker safety)
• Potential reputational and financial implications of environmental non-compliance
• Impact of Carbon Tax
• Rapidly evolving environmental regulatory framework

Mitigation Strategies

• Water reuse and recycling
• Application to amend IWUL
• Internal energy efficiency plans
• Ongoing environmental compliance monitoring (internal and external assessments, audits)
• Investment in environmental management (ZAR9 million in 2020)
• Commissioned a report from Deloitte to understand the impact of carbon tax
• Registered with SARS as a carbon taxpayer

Supply Chain Management

Climate-Related Risks & Opportunities

Transition Risks

• Carbon Tax

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol – Corporate Standard (GHG Protocol)

Environmental Metrics

ESG Focus Areas

• Safety
• Environment
• Social
• Governance

Environmental Achievements

• Reduced carbon emissions (Scope 1) from 82,829 tCO2e in 2020 to 98,815 tCO2e in 2021 (Note: increase due to methodology change in Scope 3; Scope 1 reduction target of 30% by 2030 from 2019 baseline is underway)
• Cumulative rehabilitation provision of US$21.1 million
• Eradication of invasive species on the western side of the mine

Social Achievements

• Six fatality-free years at Tharisa Mine and seven fatality-free years at processing plants
• 2,296 employees and contractors voluntarily tested for HIV/AIDS
• 2,138 employees and family members vaccinated against COVID-19
• ZAR 2.2 million spent on Corporate Social Investment (CSI) and Social and Labour Plan (SLP) projects
• 45 internships and learnerships awarded
• 43 bursaries awarded to employees

Governance Achievements

• Registered with the South African Revenue Service (SARS) for carbon tax returns
• Filed carbon tax returns for the year
• Established The Tharisa Community Trust, holding a 6% equity interest in Tharisa Minerals

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting lives and livelihoods
• Erratic energy supply from Eskom leading to increased diesel generator use and Scope 1 emissions
• Water shortages in the region
• Climate change and its impact on the mining operation

Mitigation Strategies

• On-site COVID-19 command centre, isolation and vaccination facility
• Standby generating capacity to withstand Stage 4 loadshedding
• Investment in boreholes to ensure water supply
• Development of a roadmap to achieve carbon neutrality by 2050, including initiatives to reduce carbon footprint by 30% by 2030

Supply Chain Management

Climate-Related Risks & Opportunities

Transition Risks

• Carbon Tax Act

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Stewardship
• Responsible Supply Chains
• Community Development
• Employee Well-being
• Governance

Environmental Achievements

• 30% reduction in carbon emissions by 2030 (from a 2020 financial year baseline that uses 2019 data), roadmap to net carbon neutrality by 2050
• Partnerships with Chariot Transitional Energy and Total Eren for solar energy solutions (40 MW at Tharisa Mine, up to 300 MW in Zimbabwe)
• 86% decrease in fall-out dust exceedances
• Significant waste reduction, increased recycling and reuse (56% of non-hazardous waste not ending up in landfill)

Social Achievements

• Development of 18 new small and medium enterprises (SMEs)
• Community initiatives benefiting 243 beneficiaries
• Local employment and local procurement
• Implementation of various employee wellness initiatives

Governance Achievements

• Board controlled by majority independent non-executive directors
• Board compliant with Cyprus, South African and UK governance guidelines
• Third-party assurance of sustainability information by Ibis Consulting

Climate Goals & Targets

Environmental Challenges

• Global events impacting energy security and supply chains
• Economic and market uncertainty
• Complexity of navigating responsible supply chains
• Meeting Mining Charter targets for services procurement

Mitigation Strategies

• Development of solar energy solutions and energy storage technologies
• Sustainability plans to navigate economic challenges
• Continuous improvement in supply chain responsibility
• Engagement with suppliers on empowerment journeys, exploring alternative suppliers

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Preferential procurement approach focusing on B-BBEE compliant suppliers, local content, and host communities

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Transition to renewable energy, development of energy storage business

Reporting Standards

Frameworks Used: GRI

Certifications: Null

Third-party Assurance: Ibis Consulting

UN Sustainable Development Goals

• SDG 6 (Clean water and sanitation)
• SDG 12 (Responsible consumption and production)
• SDG 13 (Climate action)
• SDG 15 (Life on land)

Tharisa's initiatives contribute to these goals through water conservation, waste reduction, emissions reduction, and biodiversity protection.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Water Management
• Waste Management
• Energy Management
• Biodiversity
• Community Engagement
• Employee Well-being
• Safety
• Governance
• Tailings Management

Environmental Achievements

• Reduced Scope 1 GHG emissions from 135,077 tCO2e in 2022 to 123,555 tCO2e in 2023.
• Overall 10% waste reduction between FY2022 and FY2023. 60% of non-hazardous waste recycled (4% increase from FY2022). 100% of hazardous liquid waste recycled.
• Construction of a 30 MWh solar farm granted environmental authorisation, expected to commence construction in 2024 and be operational by Q1 2025. This will reduce dependence on Eskom from 100% to 69%.
• Reduced water consumption due to reduced dewatering from open pits.

Social Achievements

• ZAR 18.9 million spent on procurement from local/host community suppliers.
• Over 1100 people employed at Karo Platinum Project, 21% female.
• ZAR 18.5 million spent on Social Labour Plans (SLP).
• Implementation of SafeTharisa initiative to focus on eliminating fatalities and serious injuries.
• Various wellness initiatives, including EAP with 634 sessions held.

Governance Achievements

• Data assured by IBIS for the second year, aligning disclosure to best practice.
• ESG principles integrated into business and investment decision-making.
• Compliance with Cyprus, South African and UK governance guidelines.

Climate Goals & Targets

Environmental Challenges

• Commodity price volatility.
• Supply chain disruptions (implied).
• Water scarcity in the operating region.
• Dust generation from mining activities.
• Noise pollution from mining operations.

Mitigation Strategies

• Focus on reducing carbon footprint and aligning business to thrive in a decarbonised world.
• Implementation of water conservation strategies (RO plant, water recycling).
• Implementation of dust suppression measures (water sprinklers, dust suppressants, netting).
• Noise monitoring and mitigation measures.
• Development of a site-specific air quality management plan.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Compliance with South African legislation and the Mining Charter. ZAR 2,270,986,010 spent on HDP, Women and B-BEE compliant companies.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Development of energy-efficient products and renewable energy projects.

Reporting Standards

Frameworks Used: GRI Standards

Certifications: Null

Third-party Assurance: IBIS Consulting

UN Sustainable Development Goals

• SDG 6 (Clean Water and Sanitation)
• SDG 7 (Affordable and Clean Energy)
• SDG 12 (Responsible Consumption and Production)
• SDG 13 (Climate Action)
• SDG 15 (Life on Land)
• SDG 16 (Peace, Justice and Strong Institutions)

Tharisa's initiatives are aligned with these SDGs through various environmental and social programs.

Sustainable Products & Innovation

• Redox flow battery technology using chrome from the Tharisa Mine.

Awards & Recognition

• Not disclosed