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Ivanhoe's sixth annual Sustainability Report underscores its ongoing commitment to 'mining with a greater purpose' and its pursuit to be a global leader of sustainable mining
Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) today published its sixth annual Sustainability Report, summarizing the company's sustainability activities, performance, and results for 2022.
Ivanhoe Mines' sustainability strategy is shaped by our ethos of "mining with a greater purpose". Ivanhoe not only aims to provide the critical metals needed for the energy transition, but also seeks to be a trend-setter in its approach to mining. The 2022 Sustainability Report highlights how this ethos is delivered across Ivanhoe's principal projects.
This year, Ivanhoe has enhanced the report's interactivity by incorporating 23 short videos throughout the report. These engaging clips demonstrate a number of the sustainability initiatives and how they relate to the Ivanhoe's commitment towards the agenda of United Nations' Sustainable Development Goals.
We invite our investors and stakeholders to learn more about the exceptional sustainability efforts championed by Ivanhoe Mines, by reading and experiencing the 2022 Sustainability Report: https://ivanhoemines.com/investors/sustainability-report/
2022 Sustainability Report
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The PDF is interactive and best viewed in Adobe Acrobat for desktop, mobile or tablet.
Ivanhoe Mines' President, Marna Cloete commented:
"Adapting to the ever-changing needs of our stakeholders and employees, while prioritizing the safety and well-being of individuals, the environment, and our assets, requires resilience and is at the heart of what defines us as a truly responsible and caring business. As we navigate the global shift towards a more sustainable future, we aim to set a strong example in the mining industry: how mining done right with purpose, and commitment to the environment and social responsibility, will play a significant role in the world's transition to using cleaner energy. Although the journey is not an easy one, our commitment to cultivating diverse and creative thinking within our organization ensures our pivotal role in the supply of critical metals for generations to come."
Ivanhoe Mines' Founder and Executive Co-Chairman, Robert Friedland commented:
"We take immense pride in our team's achievements over the past year, as well as their unwavering commitment to building strong connections with local communities and stakeholders. Undoubtedly, achieving a global energy transition hinges on an unparalleled and conscientious production of copper metal. Ivanhoe Mines is resolutely committed to the discovery and extraction of essential metals for global electrification while striving to maintain the highest standards of environmental and social responsibility."
Watch the video introducing the 2022 Sustainability Report and its achievements across Ivanhoe's three principal projects: https://vimeo.com/811355638/7aa1b49122
2022 Sustainability Video
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The 2022 Sustainability Report reinforces the company's objective of transparency by reporting the company's sustainability policies, practices and performance during the reporting period of 2022.
Ivanhoe Mines has a broad range of stakeholder groups, both internal and external, that each have their own specific disclosure needs and requirements with respect to Ivanhoe's sustainability performance. The approach used in the 2022 Sustainability Report is guided by these diverse views, as well as by various reporting regulations, good practice standards, and disclosure frameworks.
Ivanhoe Mines' is committed to creating shared value for our shareholders and stakeholders. We believe in the principles of governance, people, planet, and prosperity, as outlined by the World Economic Forum, and we make sure our approach is guided by these pillars.The 2022 Sustainability Report has principally been prepared and presented in accordance with the Global Reporting Initiatives' Standards, as well as the World Economic Forum's International Business Council Stakeholder Capitalism Metrics.
Other influential frameworks include:
- The International Council of Mining and Metals' 10 Principles for Sustainable Development;
- The Local Procurement Reporting Mechanism;
- The Task Force for Climate-Related Financial Disclosures;
- The United Nations Global Compact;
- Organisation for Economic Co-operation and Developments' Guidelines for Multinational Enterprises; and
- The United Nations' Sustainable Development Goals
Ivanhoe Mines is committed to remaining at the cutting edge of the ever-evolving landscape of Environmental, Social and Governance (ESG) matters. As part of this commitment, we will continuously refine our reporting approach to ensure it aligns with industry best practices.
Highlights of Ivanhoe Mines' impact in 2022
- Reported an overall reduction in the total recordable injury frequency rate across all sites.
- Achieved, or on-track to achieve, 16 out of the 17 sustainability objectives and targets set for 2022.
- Kamoa-Kakula's contribution to the Democratic Republic of Congo (DRC) was equivalent to approximately 4% of the country's GDP.
- Over $95 million contributed in group-wide payroll to employees in 2022, in addition to over $70 million in local payroll taxes.
- Currently, over 97% of Kamoa-Kakula's employees are Congolese.
- Approximately $300 million was paid in government taxes and royalties in 2022, of which over $280 million was paid to the DRC government.
- $20 million spent on the socio-economic development initiatives across all of Ivanhoe's host communities during 2022. An increase of over 100% from 2021.
- Group-wide female employee representation increased to 10%, up from 9% in 2021. This is a significant achievement as the group-wide workforce grew by 20% during 2022, led by Kamoa-Kakula. Of note, the female representation at Platreef is now 27%, up from 23% in 2021.
- Over $1.2 billion spent on domestic suppliers across the group.
- 644 scholarships and bursaries distributed group-wide.
- 322 formal and informal local enterprises supported group-wide; up from 66 in 2021.
- 76% of group-wide energy consumed was from renewable sources, including state-owned hydroelectric facilities rehabilitated and funded by Kamoa-Kakula.
- 33% decrease in water consumption.
- Ivanhoe Mines joined the United Nations Global Compact (UNGC).
- Ivanhoe Mines joined the Extractive Industries Transparency Initiative (EITI).
Featured below are images that highlight our company's sustainability endeavours from 2022, reflecting our commitment to ESG.
Teon Swanepoel, Managing Director, Ivanplats (left) and Benjamin Sekano, General Manager, Ivanplats (right), during the business handover celebration of Bhasisa. Bhasisa is a waste management and recycling business owned by local entrepreneur, Thabita Langa (middle) that has received mentorship and support from Ivanplats.
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Residents of Kipushi town collect water at the potable water stations supplied by the Kipushi Project. Since 2018, the Kipushi Project has installed 22 solar-powered, fresh drinking water boreholes throughout its neighbouring communities.
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Chuene Matlala, Social Compliance Projects Officer, participating in Platreef Project's food security initiative, held to celebrate Mandela Day in July 2022.
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In consultation with PwC, in 2022 Ivanhoe Mines undertook several transformative steps to help shift the communities in which it operates onto a sustainable and resilient path. One of these ways is to increase the awareness of the United Nations Sustainable Development Goals (SDG). Photo above is of the winners of the SDG awareness poster-making competition from local primary schools near the Platreef Project.
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Local community infrastructure initiatives undertaken by Kamoa-Kakula included the construction of a new, 500-person capacity Pentecostal Church in Kaponda. The Church was opened to the community during its handover ceremony in April 2022.
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Riaan Vermeulen, Managing Director, Kamoa Copper, planting Mungaya trees on 2022 National Arbor Day in the DRC. As part of Kamoa-Kakula's reforestation campaign, the indigenous Mungaya fruit trees were planted along the Mukanga River near the Kamoa Camp.
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Marna Cloete, President (middle) next to Oliver Binyingo, Senior Vice President, Public Affairs DRC, Ivanhoe Mines, as well as Louis Watum, General Manager (right), and Shiko Kebonte, Head of Stakeholder Management (left), Kipushi Project, with youth entrepreneurs from Kipushi.
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About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa; the expansion of the Kamoa-Kakula Copper Complex in the DRC, the construction of the tier-one Platreef palladium-rhodium-platinum-nickel-copper-gold project in South Africa; and the restart of the historic ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC.
Ivanhoe Mines is also exploring for new copper discoveries across its circa 2,400km2 of 90-100% owned exploration licences in the Western Foreland, which are located adjacent to the Kamoa-Kakula Copper Complex in the DRC.
Information contact
Investors
Vancouver: Matthew Keevil +1.604.558.1034
London: Tommy Horton +44 7866 913 207
Media
Tanya Todd +1.604.331.9834
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/162280
Figure 1: A photo of interpreted copper sulfides/oxides (green) on the surface at the Chinook Deposit, Storm Project, Nunavut. The material has not been assayed.
Figure 2: Plan view of the Storm area showing the high-priority (initial drilling) areas with potential for further growth of copper mineralization based on drilling, geochemical sampling and geophysics, overlaying copper deposit outlines, and topography.
Figure 3: NE-SW geological section view through ST24-03 (looking NW) showing the Cirrus Deposit, interpreted Southern Graben Fault and modelled MLEM conductors. The planned drill hole depth is 650-700m.
Figure 4: Schematic geological section at 464730E. The mineralization intersected by ST24-01 is immediately below the Cape Storm Formation, similar to the Cyclone Deposit.
Figure 5: Copper gossan from the Hailstorm Prospect. This is massive chalcocite (copper sulfide) and returned a laboratory assay grade of >50% Cu, 61g/t Ag (Sample Y007193, 50% Cu is the upper limit of the assay technique used).
Figure 6: Proposed MobileMT survey showing the planned Phase 1 and Phase 2 survey lines, overlaying topography, and regional geology.
Figure showing surface outline of 2024 MRE, as well as currently and previously reported drill holes.
Table 1: Drill hole mineralized intervals, see attached map for drill hole locations. 