TIDMATM
RNS Number : 8998N
Andrada Mining Limited
26 January 2023
26 January 2023
Andrada Mining Limited
(Previously AfriTin Mining Limited)
("Andrada" or the "Company")
Publication of the Inaugural Sustainability Report
Andrada Mining Limited (previously AfriTin Mining Limited) (AIM:
ATM), an African technology metals mining company with a portfolio
of mining and exploration assets in Namibia, is pleased to announce
the publication of its inaugural Sustainability Report.
The report details the Company's sustainability performance for
the 2022 financial year (1 March 2021 - 28 February 2022) and
details how the Company aims to comply with the requirements of the
Sustainability Accounting Standards Board ("SASB") and the GRI
Sustainability Reporting Standards. The Company has created a
dedicated environment, social and governance ("ESG") department and
looks to integrate ESG into Andrada's operating model. This report
provides a baseline for future ESG benchmarking, which will help
the Company to track performance and ensure transparent reporting
to all stakeholders.
Link to Sustainability Report:
https://andradamining.com/company-reports/Sustainability-Report-2022.pdf
HIGHLIGHTS
In the period 1 March 2021 to 28 February 2022:
-- Combined Scope 1 and Scope 2 greenhouse gases ("GHG")
emissions from the Uis Mine ("the Mine" or "Uis") activities were
less than 8.2% of the Equator Principles Annual Threshold at 8 208
tonnes of CO(2) e produced, or 0.018 tonnes of CO(2) e per tonnes
of ore processed;
-- The Mine abstracted water from non-potable groundwater
(permitted borehole network) and surface water through a historical
mining pit at a water-use intensity of 0.33 m(3) per tonne of ore
processed;
-- 315 total employees at the Uis Mine, of which 128 were
permanent staff and 187 were contractors, all of whom were Namibian
citizens;
-- 75% of senior managers at Uis were women;
-- N$143 million (GBP6.8 million), or 49%, of expenditure at Uis
was spent across more than 250 Namibian suppliers; and
-- 86% of employees and 36% of all contractors attended Health,
Safety and Emergency Response Training.
Commenting on the report, CEO Anthony Viljoen (CEO) said:
"We are pleased to release our maiden Sustainability Report that
describes our approach to sustainability, the policies that guide
our ESG implementation process and our performance for the
financial year ended 28 February 2022. We recognise that the
integration of ESG principles into our Company's business model is
an important step in the Company's evolution into a significant
tech-metals producer . Furthermore, our ambition is to lead by
example and our Board is therefore ultimately responsible for our
sustainability efforts across the Company. The Board is supported
in this by the ESG Committee which was formed in August 2021.
Andrada has shown ESG improvements over this past financial year,
as is showcased within the report, and the team is committed to
continual improvement in performance."
REPORT OVERVIEW
Andrada has structured the report around four key priorities,
namely environmental stewardship, employees, communities, as well
as health and safety. The report details the Company's
sustainability performance for the 2022 financial year (1 March
2021 - 28 February 2022).
Environmental stewardship
Andrada is committed to investigating and investing in
renewable, lower-carbon energy solutions, and energy efficient
initiatives to reduce GHG emissions in the future. An important way
to track the Company's impacts on climate change is by monitoring
the GHG emissions and energy use.
Andrada's total Scope 1 and Scope 2 emissions in the reporting
period were 8 208 tCO(2) e compared to the 100 000 tCO(2) e Equator
Principles Annual Threshold ("Equator Threshold"). The Company's
annual emissions were therefore 8.2% of the Equator Threshold or
91.8% lower than the Equator Threshold. By effectively managing
energy use, Andrada can reduce its GHG emissions, achieve higher
production efficiency, and potentially lower direct mining costs.
Furthermore, the Company has undertaken a climate change risk
assessment for operations at Uis to identify how climate change may
affect operations and how operation may affect climate change.
Details of this assessment will be outlined in the 2023
Sustainability Report.
A critical focus for Andrada is sustainable water management,
particularly in the arid environment in which Uis is located. The
Uis Mine abstracted non-potable groundwater from a permitted
borehole network and surface water through a historical mining pit
at a water-use intensity of 0.33 m(3) per tonne of ore processed
during the reporting period.
Employees
The diversity and talent of the employees are critical factors
to the success of the business. The Company strives to develop and
retain a distinctively diverse and talented workforce, whilst
fostering a supportive and understanding organisation by creating
an environment where individuals realise their potential. The Uis
Mine employed 128 permanent employees and 187 additional staff
through contracting companies during the reporting period. At Uis,
31% of the employees were women, three of whom held senior
management positions by the end of the financial year.
The rights to freedom of association and collective bargaining
are integrated into Andrada's Human Rights policy. Therefore, the
Company has fostered open communication with the employees and
representative unions resulting in no strike action or lockouts at
Uis in the year under review. Andrada is committed to continually
addressing employee concerns transparently and productively.
Communities
Local communities are critical sustainability partners and
Andrada aims to source members of its talented workforce from these
local communities. Andrada is also mindful of its obligations to
these communities, and the wider stakeholder base, in maintaining
its social licence to operate. Ensuring the communities and
countries in which the Company operates share in the value created
is a core value of Andrada.
One of the key areas identified for support and investment in
these communities is education. Quality education can be considered
a social and economic elevator. To help drive educational outcomes
in Uis the Company is involved in several community development and
investment projects such as supporting students from local schools
with meals, housing, stationery, and sports supplies.
To the extent practicable, the supply chain prioritises
procurement from Namibian local and national businesses before
looking to the rest of Africa or internationally. The total
expenditure in the reporting period was approximately N$294m (GBP14
million) of which N$143m (GBP6.8 million), or 49%, was spent across
more than 250 Namibian businesses. As the business grows and
develops, Andrada fully intends on bringing its Namibian suppliers
along.
Health and Safety
Andrada is committed to protecting the health and safety of all
its people including employees, contractors, communities, and
visitors by building a robust health and safety culture. This is
grounded in individual and shared responsibility for health and
safety, where managers and site leaders lead by example. Safety is
imperative and to that effect Andrada aims to ensure that risk
practices are adopted on all our mining, processing, and
exploration sites.
To improve health and safety performance at Uis, the Company has
implemented a health and safety monitoring system that is
accessible to all employees and contractors across each area of the
mine. The system enables real-time reporting across the operation
which enables better responses to and understanding of incidents.
This proactive approach is used to prevent future repeat incidents
from occurring.
During the reporting year, the Uis Mine recorded zero
fatalities, four lost time injuries ("LTIs") resulting in a Lost
Time Injury Frequency Rate ("LTIFR") of 6.26 per million-man hours
worked, and a Total Recordable Injury Frequency Rate ("TRIFR") of
12.53 per million hours worked. The Company's health and safety
performance needs to improve further, and management is
investigating ways to improve the health and safety culture and
performance, details of which will be outlined in the 2023
Sustainability Report.
FUTURE PERFORMANCE AND REPORTING
Throughout the 2023 financial year, the ESG team has worked to
develop an improved ESG strategy and a five-year strategic roadmap
for achievement. Key performance indicators for the short-term and
long-term periods will be communicated in the next Sustainability
Report. Future work includes a water stewardship programme, a
biodiversity strategy, and the climate change risk assessment to
support the ESG strategy. The Company has embedded a fully-fledged
ESG department at the core of its operating model. Andrada intends
to continually enhance reporting and implementation by improving
the disclosure on ESG risks and adopting measures to mitigate
against the impacts of climate change respectively. Furthermore,
Scope 3 emissions are being identified and assessed for future
disclosure.
The next comprehensive Sustainability Report will be for the 12
months ending 28 February 2023 (anticipated to be published during
Q3 of 2023).
Glossary of abbreviations
CO e Carbon dioxide equivalent
ESG Environmental, Social, and Governance
-----------------------------------------------------------------------------------------------
GRI Global Reporting Initiative
-----------------------------------------------------------------------------------------------
m(-) -(3) C ubic metre
-----------------------------------------------------------------------------------------------
GBP B ritish pound
-----------------------------------------------------------------------------------------------
N$ Namibian dollar
-----------------------------------------------------------------------------------------------
SASB Sustainability Accounting Standards Board
-----------------------------------------------------------------------------------------------
S cope 1 Refers to all direct GHG emissions (i.e., through the combustion of fossil fuel)
-----------------------------------------------------------------------------------------------
S cope 2 Refers to indirect GHG emissions from the consumption of purchased electricity, heat, or steam
-----------------------------------------------------------------------------------------------
For further information please visit the Company's website:
www.afritinmining.com or contact:
Andrada Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO
Sakhile Ndlovu, Head of Investor Relations
Nominated Adviser +44 (0) 207 220 1666
WH Ireland Limited
Katy Mitchell
Corporate Advisor and Joint Broker
H&P Advisory Limited
Andrew Chubb
Jay Ashfield
Nilesh Patel +44 (0) 20 7907 8500
Stifel Nicolaus Europe Limited
Ashton Clanfield
Callum Stewart
Varun Talwar +44 (0) 20 7710 7600
Tavistock Financial PR (United Kingdom) +44 (0) 207 920 3150
Emily Moss
Catherine Drummond
Adam Baynes
Notes to Editors
Andrada Mining Limited, formerly Afritin Mining Limited, is a
London-listed technology metals mining company with a vision to
create a portfolio of globally significant, conflict-free,
production and exploration assets. The Company's flagship asset is
the Uis Mine in Namibia, formerly the world's largest hard-rock
open cast tin mine.
Lithium laboratory test work completed during the 2022 calendar
year indicated a high-grade, ultra-low iron lithium petalite
concentrate. The test work to convert lithium petalite concentrate
to battery-grade lithium hydroxide was initiated with Nagrom, a
leading Australian processing company, and commercial engagements
with lithium petalite concentrate off - takers are on-going.
An exploration drilling programme is currently underway with the
aim of expanding the tin resource over the fourteen additional,
historically mined pegmatites, all of which occur within a 5 km
radius of the current processing plant. The Company has set a
mineral resource target of 200 Mt to be delineated within the next
5 years. The substantial mineral resource potential allows the
Company to consider economies of scale.
Andrada is managed by a board of directors with extensive
industry knowledge and management team with deep commercial and
technical skills. Furthermore, the Company is committed to the
sustainable development of its operations and the growth of its
business. This is demonstrated by how the leadership team places
significant emphasis on creating value for the wider community,
investors, and other key stakeholders. Andrada has established an
environmental, social and governance system which has been
implemented at all levels of the Company and aligns with
international standards.
-END-
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCPPUAPGUPWPWA
(END) Dow Jones Newswires
January 26, 2023 02:00 ET (07:00 GMT)
Andrada Mining (LSE:ATM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Andrada Mining (LSE:ATM)
Historical Stock Chart
From Apr 2023 to Apr 2024
