RCS - Andrada Mining Ltd - Release of the 2023 Sustainability Report

Andrada MiningAnnouncement

27/10/2023 12:15

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RNS Number : 5811R  Andrada Mining Limited  27 October 2023

 

27 October 2023

RNS REACH

 

Andrada Mining Limited

("Andrada" or the "Company")

Release of the 2023 Sustainability Report

Andrada increases procurement spend in Namibia by 41% year-on-year

 

Andrada Mining Limited (AIM: ATM), an African technology metals mining company
with a portfolio of mining and exploration assets in Namibia, including its
flagship asset the Uis Mine, is pleased to announce that it has published its
Sustainability Report ("the Report") for the 12 months ended 28 February 2023
("FY2023"). This Report details the Company's sustainability activities
focusing primarily on Uis Mine. The Report has been informed by the
requirements of the Sustainability Accounting Standards Board (SASB), and the
Global Reporting Initiative Standards (GRI). It contains information on the
Company's sustainability strategy and defines the long-term goals that will be
reviewed annually.

 
Anthony Viljoen, Chief Executive Officer, commented:

"Sustainability is our bedrock and is intricately woven into our business
model. Our approach goes beyond the mine in that we strive to make a positive
impact on the region in which we operate and on Namibia as a whole. Since
inception, we have contributed significantly to the national economy through
job creation and procurement. As the focus turns to climate-smart economies
globally, there is increased focus on the natural environment. We are focused
on managing all resources including biodiversity and water whilst producing
minerals key to the green energy transition. We are committed to creating long
lasting value for all our stakeholders."

 

SUSTAINABILITY HIGHLIGHTS

Socio-economic impact

Andrada's estimates that it has contributed GBP33 million (NAD 690 million) to
the Namibian national economy through procurement, royalties, and taxes since
inception. In FY2023, the Company's procurement outlay was GBP 9.1 million
(NAD 203 million) with 225 Namibian suppliers of which 107 were from the
Erongo region in which Uis is located. The Company contributed c. GBP2 million
(NAD 45 million) in royalties and taxes during the year.

Health and safety
The Company achieved a 51% decline in Lost Time Injury Frequency Rate, attaining a significant safety improvement rate of 3.04. Andrada effectively lowered the Total Recordable Injury Frequency Rate by 35% to 8.09 during FY2023 validating its steadfast commitment to a secure working environment. Furthermore, the training of 1 145 individuals in health and safety protocols was a further investment in enhancing Uis Mine's safety culture.
 
Empowerment and diversity

Ninety-nine percent (99%) of the Uis Mine's workforce comprised Namibian
nationals during the year under review, with 28% being female employees - a
fact that demonstrates the Company's commitment to gender inclusivity and
empowerment. Notably, females constituted 38% of Uis Mine's management,
underscoring the Company's steadfast determination to achieve gender parity
and empowerment at all levels.

 
Community

Andrada is a member of the Settlement Development Committee whose main purpose
is to promote sustainable development through partnerships between the various
stakeholders in Uis. The Company has collaborated with a non-profit
organisation to implement feeding schemes for vulnerable children and elderly
at the Tatamutsi informal settlement located in Uis. Other initiatives for
Uis's socio-economic development have been the refurbishment of roads, and the
donation of sports equipment and gardening implements to local schools.
Through these multi-facetted initiatives, the directors believe that the
Company has attained its social licence to operate.

 
Safeguarding through global standards

Andrada acknowledges the importance of rigorous protocols and good governance
in ensuring that its operations remain aligned with global sustainability
standards. The sustainability strategy adheres to the International Financial
Corporation IFC Performance Standards and defines the journey toward ISO
Certification 14001, 45001, and 9001 standards over the next five years. The
Company's Corporate Social Initiatives strategy is aligned with the United
Nations Sustainable Development Goals and reporting to GRI standards. Finally,
alignment with the ICMM Principles substantiates Andrada's dedication to
responsible and ethical mining practices for a positive impact on all
stakeholders.

 

The full 2023 Sustainability Report is available for download at:
https://andradamining.com/media/corporate-publications/
(https://andradamining.com/media/corporate-publications/)

 

 CONTACT
 Andrada Mining Limited                   +27 (11) 268 6555

 Anthony Viljoen, CEO                     investorrelations@andradamining.com

 Sakhile Ndlovu, Investor Relations

 Nominated Adviser
 WH Ireland Limited                       +44 (0) 207 220 1666

 Katy Mitchell

 Corporate Adviser and Joint Broker
 H&P Advisory Limited                     +44 (0) 20 7907 8500

 Andrew Chubb

 Jay Ashfield

 Matt Hasson

 Stifel Nicolaus Europe Limited           +44 (0) 20 7710 7600

 Ashton Clanfield

 Calum Stewart

 Varun Talwar

 Tavistock Financial PR (United Kingdom)  +44 (0) 207 920 3150

 Jos Simson                               andrada@tavistock.co.uk

 Catherine Drummond

 Adam Baynes

 
 
About Andrada Mining Limited

Andrada 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. An
exploration drilling programme is currently underway at Uis 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 existing mine, together with its
substantial mineral resource potential, allows the Company to consider
economies of scale. Andrada is managed by a board of directors with
considerable industry knowledge and a management team with extensive
commercial and technical skills. Furthermore, the Company is committed to the
sustainable development of its operations as demonstrated by the leadership
team's emphasis on creating value for the wider community, investors, and
other key stakeholders. Andrada has established an environmental, social and
governance system that has been implemented at all levels of the Company and
aligns with international standards.

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