AIM-listed Andrada Mining, a critical raw materials producer with mining and exploration assets in Namibia, has announced 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