Last checked at 8 Apr 2022 07:00
Publication of 2021 Sustainability Report and inaugural Climate Strategy ReportKenmare Resources plc
(“Kenmare” or “the Company”)
8 April 2022
Publication of 2021 Sustainability Report and inaugural Climate Strategy Report
Kenmare Resources plc (LSE:KMR, ISE:KMR) today announces the publication of its Sustainability Report and its inaugural Climate Strategy Report for the year ended 31 December 2021 and advises that both reports are available on the Company's website at www.kenmareresources.com/investors/reports-and-presentations.
2021 key sustainability highlights:
Lowest ever Lost Time Injury Frequency Rate (LTIFR) achieved in 2021 of 0.03 per 200,000 hours worked, an improvement of 88% compared to 2020 (0.25)Kenmare’s Climate Policy approved by the Board and ambition to be Net Zero by 2040 establishedOver 90% of electricity requirements in 2021 were generated from renewable (hydroelectric) sources (2020: 90%)198 hectares of mined land rehabilitated (2020: 181 hectares)At year-end, 97% of employees at the Moma Mine were Mozambican (2020: 97%), with 83% of Moma management roles (supervisor and above) held by Mozambicans, including the General Manager (2020: 80%)At year-end, female employees represented 12.5% of the Mine workforce, up from 10.6% in 2020$2.3 million of continued investment was made into local communities through the Kenmare Moma Development Association (KMAD) (2020: $2.0 million)$26.5 million of payments to the Government of Mozambique (2020: $20 million)Kenmare was named as the most transparent company in Mozambique for the second consecutive year by the Centro de Integridade Pública (CIP) Extractive Industry Transparency IndexThe 2021 Sustainability Report, aligned with the Global Reporting Initiative standards, aims to assist stakeholders to further understand our business by providing transparent demonstration and disclosure of Kenmare’s sustainability performance. The Company reports its performance against its 2021 sustainability targets, which were detailed in the 2020 Sustainability Report, and sets new targets for 2022 and 2025.
The 2021 Sustainability Report also outlines the strategy, policies, and management approach of Kenmare's longstanding and on-going commitment to sustainability. These efforts are underpinned by the corporate values of Integrity, Commitment, Accountability, Respect and Excellence (ICARE) and Kenmare’s purpose of “responsibly meeting global demand for quality-of-life minerals.”
The 2021 Climate Strategy Report is aligned with the recommendations of Task Force on Climate-related Financial Disclosures (“TCFD”) and contains our disclosures in this regard. Kenmare supports the aims of the TCFD and believes businesses should communicate the risks and opportunities that climate change presents.
Kenmare has also published a Sustainability Fact Book, which is a Microsoft Excel document containing the Company’s key sustainability figures to allow investors to compare its performance to other companies in a quick and efficient manner. The Sustainability Factbook is available on the Company’s website at https://www.kenmareresources.com/en/sustainability.
Statement from Elaine Dorward-King, Chair of the Sustainability Committee:
“Kenmare made important progress in 2021 in all aspects of its sustainability agenda, most notably with its excellent safety record. The updated Sustainability Strategy sets out short and medium-term targets, which include continuing to increase the representation of women within the business, growing the economic opportunities associated with the Moma Mine through increased local procurement, and building upon our progressive rehabilitation programme to better balance food security and biodiversity. Kenmare’s inaugural Climate Policy was also approved by the Board, formalising our ambition to achieve Net Zero (Scopes 1 and 2) by 2040, with a short-term emissions reduction target of 12% by 2024.”
Statement from Michael Carvill, Managing Director:
“Kenmare continues to strive to create long-term sustainable benefits for all our stakeholders and make a tangible difference to the lives of our Mozambican host communities. With the publication of our second Sustainability Report and our first Climate Strategy Report, we continue to raise the standards of environmental, social and governance we hold ourselves to, and remain focused on our purpose of “responsibly meeting global demand for quality-of-life minerals.””
For further information, please contact:
Kenmare Resources plc
Jeremy Dibb / Katharine Sutton
Investor Relations
ir@kenmareresources.com
Tel: +353 1 671 0411
Mob: +353 87 943 0367 / +353 87 663 0875
Murray (PR advisor)
Doug Keatinge
dkeatinge@murraygroup.ie
Tel: +353 1 498 0300
Mob: +353 86 037 4163
About Kenmare Resources
Kenmare Resources plc is one of the world’s largest producers of mineral sands products. Listed on the London Stock Exchange and the Euronext Dublin, Kenmare operates the Moma Titanium Minerals Mine in Mozambique. Moma’s production accounts for approximately 8% of global titanium feedstocks and the Group supplies to customers in more than 15 countries. Kenmare produces raw materials that are ultimately consumed in everyday “quality-of life” items such as paints, plastics and ceramic tiles.
All monetary amounts refer to United States dollars unless otherwise indicated.