Climate Change Data

Environmental Metrics

ESG Focus Areas

• Tailings management
• Governance and transparency
• Our environment
• Thriving, empowered communities
• Safe, inclusive workforce
• Our natural diamonds

Environmental Achievements

• Largely implemented the Global Industry Standard on Tailings Management (GISTM) and progressively decreased the risk rating on our facility through a series of risk reduction interventions.
• No major environmental incidents.

Social Achievements

• Reached out to partner with the government and NGOs in Lesotho on programmes of vital importance to our local communities, including providing clean water and sanitation, health services, community safety interventions, education, catchment area water quality improvement, and species at risk.
• Successfully cultivated a workplace environment where employees collectively build a safer and sustainable organisation.
• No instances of discrimination, perceived non-equal treatment, or GBV being recorded in 2023.

Governance Achievements

• Launched the Firestone Responsible Ownership Initiative, outlining key ESG commitments in our Policy, Standards, Goals and in this ESG report.
• Revised the Anti-corruption and Bribery Policy, which now explicitly references the US Foreign Corrupt Practices Act (FCPA).
• Implemented a Human Rights Policy and Whistleblower Policy in 2023.

Climate Goals & Targets

Environmental Challenges

• Significant challenges stemming from the depressed diamond market and the disruptions caused by the COVID-19 pandemic.
• Significant debt burden of approximately US$ 131.1 million as of 30 June 2023.
• Deterioration in the diamond market in recent months, with industry margins under pressure and companies facing uncertain futures.
• Issues of financial management and accountability on the part of the LMA committee.
• The community and their committee generating appropriate strategies towards achieving sustainable livelihoods using their communal compensation from the Liqhobong Mine.
• Delay in finalising payment of outstanding individual compensation, natural resource compensation and finalisation of CSR policy because of the COVID-19 pandemic.

Mitigation Strategies

• Efforts were concentrated on restructuring the Company’s senior secured debt and securing the necessary funding to support a restart of operations.
• Closely monitoring market conditions and implementing measures to improve operational performance and preserve cash flow.
• Deferring capital and non-essential operating expenditures to align with market conditions.
• Providing training and technical support on financial management to the LMA committee.
• Implementing community development projects.
• Finalising payment of outstanding individual compensation for affected agricultural land.

Supply Chain Management

Responsible Procurement

• Mine procurement from local sources where possible
• Code of Conduct applies to all our own and contractor employees and is ingrained in the contracts of material suppliers.

Climate-Related Risks & Opportunities

Physical Risks

• Floods
• Droughts

Reporting Standards

Frameworks Used: GRI, UNCTAD’s Guidance on Core Indicators for Sustainability and Sustainable Development Goals (SDGs) Impact Reporting, 2022, IFC Performance Standards, Equator Principles, GISTM

Third-party Assurance: Partial external assurance was undertaken for the 2023 report by independent consultancy, Sustain Consulting (Pty) Ltd