Ivanhoe Mines publishes 7th Annual Sustainability Report
April 17, 2024
Ivanhoe Mines publishes 7th Annual Sustainability Report
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The 2023 Sustainability Report underscores Ivanhoe’s
commitment to “Mining with a greater purpose” and its
pursuit to be a global leader in responsible mining
JOHANNESBURG, SOUTH AFRICA – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF)
today published its seventh annual Sustainability Report, summarizing the
company's sustainability achievements, activities, and results during 2023.
Ivanhoe Mines’ sustainability strategy is shaped by our ethos of “Mining with a
greater purpose”. Ivanhoe aims to provide both the critical metals needed for
the energy transition, as well as be an innovator in its approach to mining. The
2023 Sustainability Report highlights how this ethos is delivered across
Ivanhoe’s principal projects.
Continuing the format introduced last year, the sustainability report is
interactive and includes a series of short videos showcasing many community
initiatives the company has supported in the past year. Each video clip
demonstrates Ivanhoe’s commitment towards the United Nations Sustainable
Development Goals.
Investors and stakeholders are encouraged to learn more about the
exceptional sustainability efforts championed by Ivanhoe Mines, by reading
and experiencing the 2023 Sustainability Report:
https://www.ivanhoemines.com/sustainability/
The PDF is interactive and best viewed in Adobe Acrobat for desktop, mobile
or tablet.
Highlights of Ivanhoe Mines’ impact during 2023
• Improvement in health and safety across all sites, with group total
recordable injury frequency rate (TRIFR) reduced from 1.72 to 0.94 and
group lost-time injury frequency rate (LTIFR) reduced from 0.38 to 0.23.
• Increase in female Board representation from 18% to 27%.
• Kamoa-Kakula’s contribution to the Democratic Republic of Congo
(DRC) was equivalent to approximately 6% of the country’s GDP.
• $129 million contributed in group-wide payroll to employees in 2023, in
addition to over $81 million in local payroll taxes.
• 91% of group employees are local.
• $861 million was paid in government taxes and royalties in 2023, a year-
on-year increase of 250%, of which $857 million was paid to the DRC
government.
• $39 million spent on the socio-economic development initiatives across
all of Ivanhoe’s host communities during 2023. An increase of over
100% from 2022.
• Group-wide female employee representation has stayed unchanged at
10%, which is a significant achievement as the group-wide workforce
grew by 55% during 2023, led by Kamoa-Kakula. Of note, the female
representation at Platreef is now 29%, which is close to achieving its
target of 30%.
• Over $2.7 billion spent on domestic suppliers across the group, an
increase of approximately 80%.
• 849 scholarships and bursaries distributed group-wide.
• 845 formal and informal local enterprises supported group-wide; up
from 332 in 2022 and 66 in 2021.
• 55 kilometres of community roads developed or rehabilitated.
• Ivanhoe Mines submitted First Extractive Industries Transparency
Initiative (EITI) expectations assessment, following joining EITI in 2022.
Watch the video introducing the 7th annual Sustainability Report and its
achievements across Ivanhoe’s three principal projects:
https://youtu.be/evEMwS2vjNk
Ivanhoe Mines’ President, Marna Cloete commented:
"The mining sector stands at the cusp of a significant transformation, striving
to sustainably provide the critical metals the world requires while navigating
complex challenges surrounding the environment, societal impact, and
corporate governance. At Ivanhoe Mines, sustainability isn’t just an initiative;
it’s a core principle guiding our progress and innovations. We don't just
prioritize these challenges, we are integrating them into the core of our
business ethos. We have adopted the principle of 'Mining with a greater
purpose,' and it is this principle that propels us forward toward our ambitious
vision of becoming a leading global diversified mining company. This past
year has been one of remarkable growth for us, marked by milestones within
the sustainability spectrum that we are excited to share in this report."
Ivanhoe Mines’ Founder and Executive Co-Chairman, Robert Friedland
commented:
“We are delighted to present our 2023 Sustainability Report, a detailed and
interactive overview showcasing our unwavering dedication to sustainable
growth. This year's report provides an in-depth adventure of our impactful
initiatives and stakeholder engagement efforts, all geared towards advancing
our sustainability. Featuring engaging videos and key project metrics, it
stands as a testament to our commitment towards responsibly developing
essential mines for a greener, more sustainable future. Our approach
emphasizes a just transition, aiming to deliver positive outcomes for the
communities we serve and the stakeholders we value.”
The 2023 Sustainability Report reinforces the company’s objective of
transparency by reporting the company’s sustainability policies, practices and
performance during the reporting period of 2023. The 2023 Sustainability
Report has been prepared and presented per the Global Reporting Initiative’s
(GRI) Core Option Standards, as well as the World Economic Forum’s
International Business Council Stakeholder Capitalism Metrics (WEF SCM).
In addition, Ivanhoe’s approach to sustainability reporting is aligned with
global frameworks and reporting mechanisms, including the Local
Procurement Reporting Mechanism (LPRM); the International Council on
Mining and Metals’ (ICMM) 10 principles; the United Nations Global Compact
(UNGC); as well as other various reporting regulations and good practice
standards. This alignment ensures that the views and requirements of a broad
range of stakeholders are captured.
Ivanhoe Mines is committed to remaining at the forefront of the ever-evolving
landscape of Environmental, Social and Governance (ESG) matters. As part of
this commitment, we continuously refine our reporting approach to ensure it
aligns with industry best practices. For example, selected key performance
indicators in the 2023 Sustainability Report achieved ‘Limited Assurance’ by
independent, third-party assurance provider, PricewaterhouseCoopers Inc
(PwC). This is the first time Ivanhoe’s sustainability reporting has achieved
‘Limited Assurance’ for selected key performance indicators, in line with the
International Standard on Assurance Engagements 3000 (revised), Assurance
Engagements other than Audits or Reviews of Historical Financial Information.
In addition, it is planned that next year’s report will be prepared under the GRI
14: Mining Sector (2024) standard.
Featured below are images that highlight our company's sustainability
endeavours during 2023, reflecting our commitment to ESG.
DRC President, His Excellency Félix Tshisekedi (centre), outside the
Kamoa Centre of Excellence, alongside the inaugural class of Congolese
students that enrolled in September 2023.
A classroom of students at the Kamoa Centre of Excellence. The higher-
education facility, built by Kamoa Copper, aims to produce the next
generation of leaders at Kamoa-Kakula, as well as leaders for the mining
industry in the DRC and beyond.
Ivanhoe Mines continues to invest in the water infrastructure across
Kipushi town, with the installation and maintenance of solar-powered
water wells that provide the local community with access to abundant
potable water.
Kamoa Copper hosted a Breast Cancer Awareness event at the Kamoa
Centre of Excellence. Employees participated in educational workshops,
including inspirational speeches from cancer survivors.
Christelle Nday and Micheline Kyenge, President and Vice President of
Kamoa's Women In Mining (centre) hosting a group of female mining
students from Mutoshi Technical Institute.
Students at Mosesane Baloyi Primary School, near the Platreef Project,
planting indigenous trees and flowers across the local community as
part of the national Arbor Day initiative.
The Kipushi executive team welcomed 45 new trainees from the local
community that joined the Kushona Sewing Centre, an on-site sewing
co-operative initiative set up in 2023 by the Kipushi project, which has
been handed over to the community.
Community members participate in an adult literacy program, an
initiative launched by Kipushi project. 646 community members have
benefitted from adult literacy programs in 2023.
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-nickel-platinum-rhodium-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 also is exploring across circa 2,650 km2 of highly prospective,
60-100% owned exploration licences in the Western Forelands, located
adjacent to the Kamoa-Kakula Copper Complex in the DRC. Ivanhoe is
exploring for new sedimentary copper discoveries, as well as expanding and
further defining its high-grade Makoko, Kiala, and Kitoko copper discoveries.
Information contact
Follow Robert Friedland (@robert_ivanhoe) and Ivanhoe Mines
(@IvanhoeMines_) on X.
Information contact
Investors
Vancouver: Matthew Keevil +1.604.558.1034
London: Tommy Horton +44 7866 913 207
Media
Tanya Todd +1.604.331.9834