REG - Andrada Mining Ltd - Publication of 2024 Sustainability Report

Andrada MiningAnnouncement

20/11/2024 07:00

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RNS Number : 8758M  Andrada Mining Limited  20 November 2024

 

Andrada Mining LimiteD
("Andrada" or the "Company")
Publication of the 2024 Sustainability Report

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), a critical raw materials
producer with mining and exploration assets in Namibia, is pleased to announce
the publication of its Sustainability Report for the financial year ended 29
February 2024. The report outlines Andrada's sustainability framework and its
focus on creating thriving, resilient communities, while ensuring responsible
operations through best-practice environmental stewardship and robust
governance.

Anthony Viljoen, Chief Executive Officer, commented:

"We are particularly proud of the significant progress we have made in
progressing our ESG commitments this year, including a doubling of procurement
expenditure within Namibia to £21 million, and maintaining a 99% Namibian
workforce. This underlines the dedication to creating value for our host
nation and delivering on the promise for an equitable partnership that drives
economic growth in Namibia.

The significant improvements in safety metrics and environmental performance,
including a 16% decrease in Total Recordable Injury Frequency Rate and 7%
energy efficiency improvement, are a direct result of our integrated approach
to sustainability. This has been a core focus for the Company in the 2024
financial year. These results validate our strategy of embedding sustainable
practices into all our operations whilst delivering operational excellence.
Establishing the foundations for sustainable practice now, including
conducting thorough analysis initiatives, is imperative to aligning the
Company growth trajectory with our ESG objectives.

As we continue to expand our operations, the commitment to responsible mining
practices remains unwavering. We look forward to building on these
achievements in the year ahead, and to ensuring that Andrada is well qualified
to promote the energy transition through its portfolio of critical raw
materials."

HIGHLIGHTS

Environment

§ 7% year-on-year improvement in energy efficiency to 0.13 GJ per tonne of
ore processed

§ Water withdrawal improved by 5% to 0.21m³ per tonne of ore processed

§ Climate scenario analysis completed to assess physical and transitional
risks

§ Implementation of a comprehensive biodiversity action plan

Social Performance

§ £21 million with Namibian suppliers, representing 95% of total procurement
expenditure

§ Total work force of 471, comprising 240 employees and 231 contractors

§ 21% female workforce with 25% women in senior leadership roles

Health & Safety

§ Zero fatalities maintained throughout operations

§ 16% reduction in Total Recordable Injury Frequency Rate to 6.79

§ 1% improvement in Lost Time Injury Frequency Rate to 3.02

Governance

§ Significant alignment with ICMM mining principles

§ Rigorous implementation of ESG governance framework

Through its sustainability strategy, Andrada aims to catalyse socioeconomic
development in its host regions while protecting and enhancing the natural
environment. The Company expenditure of £21 million was from 438 suppliers in
Namibia with 53 from Uis and 171 from Erongo. Additionally, a total of £3.5
million was spent in Namibia towards salaries, royalties and social projects
during the year under review. This integrated approach ensures that
initiatives designed to address climate change, water stewardship and
biodiversity also deliver benefits to local communities.

The Company maintains the highest standards of ethics and transparency,
aligning with international frameworks including IFC Performance Standards,
ICMM Principles, GRI and GISTM. This commitment to good governance underpins
Andrada's engagement with all stakeholders, from employees and local
communities to governments and investors.

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

Glossary of abbreviations
 ESG    Environmental, Social, and Governance
 GISTM  Global Industry Standard on Tailings Management
 GJ     Gigajoules
 GRI    Global Reporting Initiative
 ICMM   International Council on Mining and Metals
 IFC    International Finance Corporation
 m³     Cubic metre
 £      British pound
 ISO    International Organisation of Standardisation

 

 

CONTACT
 Andrada Mining                       +27 (11) 268 6555

Anthony Viljoen, CEO

 Sakhile Ndlovu, Investor Relations

 NOMINATED ADVISOR & BROKER
 Zeus Capital                          +44 (0) 20 2382 9500

Katy Mitchell

 Harry Ansell

 Andrew de Andrade

 CORPORATE BROKER & ADVISOR
 H&P Advisory Limited                 +44 (0) 20 7907 8500

Andrew Chubb

 Jay Ashfield

 Matt Hasson

 Berenberg                            +44 (0) 20 3753 3040

Jennifer Lee

 Natasha Ninkov

 FINANCIAL PUBLIC RELATIONS
 Tavistock (United Kingdom)           +44 (0) 207 920 3150

Emily Moss

                                    andrada@tavistock.co.uk
 Josephine Clerkin

About Andrada Mining Limited

Andrada Mining Limited is listed on the London Stock Exchange (AIM) with
mining assets in Namibia, a top-tier investment jurisdiction in Africa.
Andrada strives to produce critical raw materials from a large resource
portfolio, to contribute to a more sustainable future, improved living
conditions and the upliftment of communities adjacent to its operations.
Leveraging its strong foundation in Namibia, Andrada is on a strategic path to
becoming a leading African producer of critical metals including lithium, tin,
tungsten, copper and tantalum. These metals are important enablers of the
green energy transition, and essential for components of electric vehicles,
solar panels and wind turbines.

 

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