Last checked at 5 May 2022 07:00
5 May 2022
CENTRAL ASIA METALS PLC
('CAML' or the 'Company')
Publication of 2021 Sustainability Report
Central Asia Metals plc (AIM: CAML) announces that it has today published its 2021 Sustainability Report, which covers its approach and activities for the year ended 31 December 2021, both at Group level and at the Sasa zinc-lead mine in North Macedonia ('Sasa') and the Kounrad dump leach, solvent extraction and electro-winning ('SX-EW') copper recovery plant in Kazakhstan ('Kounrad').
The report is available to view on the Company's website at:
https://www.centralasiametals.com/investors/reports-and-presentations/
This is the Company's third Sustainability Report and the second in accordance with the Global Reporting Initiative ('GRI') Standards 'Core option'. It covers CAML's approach to transparent business conduct, maintaining safe operations and healthy working environments, and its efforts to minimise negative environmental or social impacts.
The document details the Company's reporting efforts towards Task Force on Climate-Related Financial Disclosures ('TCFD'), including its Climate Change Strategy, developed during 2021. CAML has committed to a 50% reduction in its greenhouse gas ('GHG') emissions by 2030 versus a 2020 base, and to achieving net zero by 2050.
CAML has committed to the following specific targets with a view to maintaining momentum in its sustainability achievements for the future and will report on its performance in these key areas in next year's Sustainability Report. Additional targets will be set going forwards as appropriate. Executive Director and Senior Management remuneration will reflect performance against these goals:
Delivering value through stewardship | · Zero human rights abuses |
Maintaining health and safety | · Zero fatalities · Improve Group lost time injury frequency rate ('LTIFR') versus 2021 (1.69) |
Focusing on our people | · Maintain 99% local employment across both operations · 20% female interviewees for each eligible role from 2023 onwards · 25% increase in Group female employees by end 2025 |
Caring for the environment | · Zero severe or major environmental incidents · 50% reduction in Group GHG emissions by 2030 and net zero by 2050 · 75% reduction in surface water abstraction at Sasa by end 2026 · 70% of tailings to be stored in a more environmentally responsible manner (paste backfill and dry stack tailings) by end 2026 · Report Scope 3 emissions in 2024 · Report to Global Industry Standard on Tailings Management ('GISTM') in 2024 |
Unlocking value for our communities | · Zero severe or major community-related incidents · Increase level of community support to an annualised average of 0.5% of Group gross revenue (up from 0.25%) |
Nigel Robinson, Chief Executive Officer, commented:
"2021 was a year of record financial performance for CAML, as a result of solid production and strong demand for our base metals. This enabled us to generate value for all our stakeholders including our employees, local communities, governments and suppliers, as well as our shareholders.
"I was very pleased with the work carried out in 2021 to develop our Climate Change Strategy, enabling us to commit to a 50% reduction in GHG emissions by 2030 and a 2050 net zero target, as well as to commence reporting towards TCFD. During 2022, we will undertake climate change scenario analysis and, in 2023, we will start to calculate Scope 3 emissions. The Sasa Cut and Fill Project-related technical studies that were undertaken during 2021 have enabled us to set surface water withdrawal reduction and waste storage improvement targets for the mine over the long term.
"While we recorded four lost time injuries at Sasa, lessons have been learnt and we have now hired a new Group Health and Safety Manager, who brings a wealth of industry experience and will assist us in our ultimate goal of achieving zero harm.
"During the year, we have further strengthened our governance protocol in the areas of human rights and anti-bribery and corruption, with a particular focus on enhancing our supplier agreements, assessment procedures and support in this regard.
"During 2021, we formed diversity and inclusion committees at both of our sites and, in 2022, we will action ideas raised in these sessions. As a result of this initiative, we have been able to begin to set ourselves specific targets to improve gender equality.
"We continued to enjoy strong community relationships at Kounrad and Sasa during 2021 and were delighted to complete the development of the Youth Park along the banks of the river in Makedonska Kamenica, close to the Sasa operation. A 2021 highlight for me has been seeing this new recreation area enjoyed by so many of our neighbours.
"During 2021, we fulfilled our purpose to produce base metals, which are essential for modern living, profitably in a safe and sustainable environment for all our stakeholders. We strive to further improve our sustainability performance and, as ever, would welcome feedback on this report from any of our stakeholders."
For further information contact:
Central Asia Metals | Tel: +44 (0) 20 7898 9001 |
Nigel Robinson, CEO |
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Gavin Ferrar, CFO |
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Louise Wrathall, Director of Corporate Relations | louise.wrathall@centralasiametals.com |
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Peel Hunt (Nominated Advisor and Joint Broker) | Tel: +44 (0) 20 7418 8900 |
Ross Allister |
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David McKeown |
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BMO Capital Markets (Joint Broker) | Tel: +44 (0) 20 7236 1010 |
Thomas Rider |
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Pascal Lussier Duquette |
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BlytheRay (PR Advisors) | Tel: +44 (0) 20 7138 3204 |
Tim Blythe |
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Megan Ray |
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Rachael Brooks |
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Note to editors:
Central Asia Metals, an AIM-listed UK company based in London, owns 100% of the Kounrad SX-EW copper project in central Kazakhstan and 100% of the Sasa zinc-lead mine in North Macedonia.
For further information, please visit www.centralasiametals.com and follow CAML on Twitter at @CamlMetals and on LinkedIn at Central Asia Metals Plc