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AFRICAN RAINBOW MINERALS LIMITED

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African Rainbow Minerals : 2021 Environmental, Social and Governance Report (10.01 MB)

10/19/2021 | 11:21am EDT

Environmental, social and governance report

African Rainbow Minerals (ARM) is a leading South

African diversified mining and minerals company

with operations in South Africa and Malaysia. ARM mines and beneficiates iron ore, manganese ore, chrome ore, platinum group metals (PGMs), nickel and coal and also has a strategic investment in gold through Harmony Gold Mining Company.

Information available on our website

Information available elsewhere in this report

  • Copyright and trademarks are owned by the Institute of Directors in South Africa NPC and all its rights are reserved.

All monetary values in this report are in South African rand unless otherwise stated. Rounding may result in computational discrepancies on management and operational review tabulations.

Our 2021

suite of reports

IAR

2021 integrated annual report

A holistic assessment of ARM's

ability to create sustainable value, with

relevant extracts from the annual financial

statements, the environmental, social and

governance (ESG) report and Mineral

Resources and Mineral Reserves report.

AFS

2021 annual financial statements

The audited annual financial statements have

been prepared according to International

Financial Reporting Standards (IFRS).

ESG 2021 ESG report

A detailed performance on our key environmental, social and governance matters. The ESG report includes the full remuneration report and should be read in conjunction with the GRI Index.

CCW 2021 report on climate change and water

A detailed performance on our key climate change and water matters, in line with the TCFD and TPI frameworks.

KING 2021 King IVTM* application register

A summary of how ARM implements the principles

and practices in King IV to achieve the governance

outcomes envisaged.

MRMR

2021 Mineral Resources and Mineral

Reserves report

In line with JSE Listings Requirements,

ARM prepares Mineral Resources and

Mineral Reserves statements for all its mining

operations as per SAMREC guidelines and

definitions (2016).

AGM 2021 notice to shareholders

  • Notice of annual general meeting
  • Form of proxy
  • Commitment to good governance
  • Board of directors
  • Report of the audit and risk committee
  • Report of the social and ethics committee chairman
  • Summarised remuneration report
  • Summarised directors' report
  • Summarised consolidated financial statements

All photographs were taken prior to the onset of Covid-19

and thus may include people without masks.

African Rainbow Minerals (ARM) is a leading South

African diversified mining and minerals company

with operations in South Africa and Malaysia. ARM mines and beneficiates iron ore, manganese ore, chrome ore, platinum group metals (PGMs), nickel and coal and also has a strategic investment in gold through Harmony Gold Mining Company.

Information available on our website

Information available elsewhere in this report

  • Copyright and trademarks are owned by the Institute of Directors in South Africa NPC and all its rights are reserved.

All monetary values in this report are in South African rand unless otherwise stated. Rounding may result in computational discrepancies on management and operational review tabulations.

Our 2021

suite of reports

IAR

2021 integrated annual report

A holistic assessment of ARM's

ability to create sustainable value, with

relevant extracts from the annual financial

statements, the environmental, social and

governance (ESG) report and Mineral

Resources and Mineral Reserves report.

AFS

2021 annual financial statements

The audited annual financial statements have

been prepared according to International

Financial Reporting Standards (IFRS).

ESG 2021 ESG report

A detailed performance on our key environmental, social and governance matters. The ESG report includes the full remuneration report and should be read in conjunction with the GRI Index.

CCW 2021 report on climate change and water

A detailed performance on our key climate change and water matters, in line with the TCFD and TPI frameworks.

KING 2021 King IVTM* application register

A summary of how ARM implements the principles

and practices in King IV to achieve the governance

outcomes envisaged.

MRMR

2021 Mineral Resources and Mineral

Reserves report

In line with JSE Listings Requirements,

ARM prepares Mineral Resources and

Mineral Reserves statements for all its mining

operations as per SAMREC guidelines and

definitions (2016).

AGM 2021 notice to shareholders

  • Notice of annual general meeting
  • Form of proxy
  • Commitment to good governance
  • Board of directors
  • Report of the audit and risk committee
  • Report of the social and ethics committee chairman
  • Summarised remuneration report
  • Summarised directors' report
  • Summarised consolidated financial statements

All photographs were taken prior to the onset of Covid-19

and thus may include people without masks.

Contents

2

About this report

Overview

4

Social and ethics committee chairman's report

10

Context, frameworks and reporting

12

Where we operate

14

Value contribution

15

Sustainability performance for 2021

16

Independent assurance statement

22

Our approach to sustainable value creation

Approach

26

ESG across the value chain

27

Strategy and values

28

Stakeholder management

30

Material matters

32

Environment

Environment

38

Water

45

Climate change

52

Energy

54

Land use management

56

Waste management

60

Responsible tailings management

66

Communities

Social

71

Transformation

75

Safety

81

Occupational health and wellness

90

Human resources management

102

Corporate governance

Governance

148

Remuneration report

188

Key stakeholder concerns and ARM responses

Supplementary

193

ARM's reporting in terms of the UN Global Compact

information

194

The ICMM performance expectations and mining principles

  1. The United Nations Sustainable Development Goals (SDGs)
  1. Sustainability data tables
  1. Glossary
  1. Contact details

Environmental, Social and Governance report 2021 1

Overview Approach Environment Social Governance Supplementary information

About this report

The African Rainbow Minerals Limited (ARM or the company) 2021 environmental, social and governance report (ESG) provides the company's stakeholders with additional information about our ESG practices, and performance for the year to 30 June 2021 (F2021). It should be read with the ARM 2021 integrated annual report (available on our website www.arm.co.za), the company's primary report, focused on fiinancial and operational performance to meet the information needs of shareholders, potential investors

and other providers of capital.

Cross references link to the suite of reports, where additional information is provided on relevant issues. Additional ESG information is available in the ARM supplementary report on climate change and water, the UN Global Compact report and GRI content index on our website.

Reporting guidelines

The integrated reporting process responds to the relevant statutory frameworks in the table alongside, as well as all legislation, regulations and codes of practice applicable to the South African mining sector.

In addition, disclosures in this report are focused on our most material matters, guided by the member requirements of the International Council on Mining and Metals (ICMM), GRI Standards (core option) and GRI mining and metals sector disclosures. The legislation, industry initiatives, frameworks and guidelines that shape our reporting and approach to sustainable development are shown in the graphic on pages 10 and 11.

Boundary and basis for inclusion

This report includes environmental and social information from operations where ARM has direct or joint management control, namely those in the ARM Ferrous and ARM Platinum divisions. It excludes operations, joint ventures and investments that we do not manage directly (ARM Coal, the Sakura Ferroalloys smelter and Harmony Gold), as well as projects in exploration, development or feasibility phases.

Combined assurance

The combined assurance model (see page 143) reinforces comprehensive risk-based assurance processes and reporting by drawing from the ARM enterprise risk management (ERM) processes, internal and external audit processes, and assurance from specialists/subject-matter experts. This ensures a coordinated and integrated approach that identifiies potential gaps and duplication in assurance.

IBIS ESG Consulting Africa (Pty) Ltd provided independent assurance over select information in the ESG report in accordance with AccountAbility's AA1000ASv3 (2020)

Key frameworks applied

International Integrated Reporting Framework 2021

www.integratedreporting.org

Companies Act 71 2008, as amended (Companies Act)

JSE Listings Requirements

www.jse.co.za

King IV Report on Corporate Governance for

South Africa 2016™

http://www.iodsa.co.za/page/AboutKingIV

International Financial Reporting Standards (IFRS)

The Global Reporting Initiative (GRI) Standards

CDP (previously Carbon Disclosure Project)

Task Force on Climate-related Financial Disclosures (TCFD)

United Nations Sustainable Development Goals (SDGs)

World Economic Forum Stakeholder Capitalism Common Reporting Metrics

SAMREC

SAMVAL

2 African Rainbow Minerals

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

ARM - African Rainbow Minerals Ltd. published this content on 19 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2021 15:20:04 UTC.


© Publicnow 2021
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Financials
Sales 2022 18 652 M 1 180 M 1 180 M
Net income 2022 12 493 M 790 M 790 M
Net cash 2022 13 010 M 823 M 823 M
P/E ratio 2022 3,33x
Yield 2022 14,9%
Capitalization 41 342 M 2 616 M 2 616 M
EV / Sales 2022 1,52x
EV / Sales 2023 1,26x
Nbr of Employees 12 335
Free-Float 40,1%
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Mean consensus HOLD
Number of Analysts 4
Last Close Price 210,87 ZAR
Average target price 260,00 ZAR
Spread / Average Target 23,3%
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Managers and Directors
Michael P. Schmidt Chief Executive Officer & Executive Director
Tsundzukani Mhlanga Finance Director & Executive Director
Patrice Tlhopane Motsepe Executive Chairman
Johan M. Pistorius Chief Information Officer
Princess Thwala Group Executive-Compliance & Stakeholder Relations