Great Western Mining Corporation PLC
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Environment
- Social
- Governance
Environmental Achievements
- Undertook significant reclamation work at Rock House, the OMCO Mine, the M2 Project and Sharktooth to ensure that regulatory commitments are met and to release permitted acreage ready for further drilling activity in 2023.
Social Achievements
- The Group is committed to engaging with local communities and creating opportunities to enable those communities to participate in assisting the Group’s activities. The Board also recognises its ethical and legal responsibility to work with indigenous title communities to maintain relationships. The Company ensures that it engages with indigenous title communities and external expert consultants in order to identify and preserve cultural heritage sites.
Governance Achievements
- The Board is committed to ensuring that the Group institutes and maintains the highest standards of safety, environmental, financial, and business ethics and reviews and adapts the Group’s policies accordingly.
- Adopted the Quoted Companies Alliance Corporate Governance Code (“QCA Code”).
Climate Goals & Targets
Long-term Goals:
- Developing substantial copper potential, possibly through joint ventures.
Medium-term Goals:
- Developing a commercial gold and silver play from prospects identified.
Short-term Goals:
- Commissioning the processing mill in 2023 and generating first revenues.
Environmental Challenges
- Severe weather conditions and an extended winter delayed mill construction.
- Geological risk: Mineral exploration is a high-risk activity.
- Resource risk: Uncertainties in grade and continuity of mineral reserves.
- Recruitment and retention of staff.
- Occupational health and safety in a remote area.
- Commodity price risk: Volatility in gold, silver, and copper prices.
- Foreign exchange risk.
- Covid-19 and the war in Ukraine: Potential impact on operations and funding.
Mitigation Strategies
- Regular review of exploration and development programs.
- Focus on Nevada, a jurisdiction with relatively low political and operational risk.
- Systematic exploration using modern techniques.
- Resource and reserve estimations by independent specialists.
- Realistic metal and mineral price forecasts and rigorous QA/QC programs.
- Initiatives to foster good staff engagement and competitive remuneration.
- Use of local contractors.
- Specific responsibility for health and safety given to Operations Director.
- Regular review of occupational health and safety policies.
- Monitoring global events and adapting work practices as required.
- Consistent review of commodity prices and trends.
- Holding funds in each currency to reduce foreign exchange risk.
- Monitoring availability and suitability of funding sources.