Sustainability
Our Vision for a greener Future
To become one of the leading vanadium-focused companies through our vertically-integrated platform. We are committed to being a key player in the transition to a low-carbon economy, being a social partner for good by creating shared value, while meeting growing vanadium demand from the global steel and energy storage industries, through our diverse portfolio of products.
Sustainability and creating shared value for all our stakeholders are at the heart of our operations. Our stakeholders include shareholders, employees, communities, government and regulators, as well as suppliers.
We are committed to maintaining sustainable mining and mineral processing practices across all our operations and projects, while making a tangible contribution to our communities. We are fully committed to achieving our environmental, social and governance (ESG) goals and continue to deploy every available resource in support of our sustainability efforts.
Our ESG Approach
Our ESG strategy has four key objectives:
- to instil a culture of sustainability throughout the organisation;
- to fully integrate this culture into our business decision-making process;
- to report on key ESG KPIs;
- and to communicate a consistent message about our ESG commitments to all our stakeholders.
We are rolling out our strategy in four phases. In the first phase from 2020-2022, we devised a comprehensive ESG strategy aligned to the United Nations’ Sustainable Development Goals (UN SDGs). We set clear performance indicators to guide our efforts to build sustainable development capability and ensure that ESG considerations are integrated into all our business decisions.
In the second phase, which stretches across 2023, we are focusing on ensuring compliance and alignment across the business. In the third and fourth phases, from 2024 and beyond, we will focus on fully achieving our ESG commitments to create a truly transformative business. We intend to remain responsive to market conditions, requirements and opportunities, and recognise that certain aspects of the more ambitious second phase may materialise sooner.
We have placed sustainability at the core of how we operate and have committed to the principles of value beyond compliance.
This principle is about creating shared, long-lasting value for all Bushveld Minerals stakeholders, including employees, customers, shareholders, suppliers, partners, governments, communities and the environment, beyond compliance.
We are committed to maintaining sustainable mining and mineral processing practices across all our operations and projects. This means that we operate responsibly, respecting the environment, social and governance issues, and adding value to all stakeholders.
Collectively, the ESG strategy and management system will assist Bushveld Minerals and its operations to comply with relevant authorisations, legal requirements, the IFC’s Environmental and Social Performance Standards and other obligations in a systematic and structured framework.
Health & Safety
Environment
People & Community
Zero Harm Approach
Bushveld Minerals’ approach to sustainable development is guided by and embedded in key pillars:
- Health & Safety
- Environment
- People & Community
- Stakeholders
These pillars are aligned with the United Nations 2030 sustainable development goals.
Our guiding principle is zero harm.
We aim to instil a work culture based on behavioural management that views safety and health as paramount. Bushveld Minerals’ environmental stewardship is guided by the Environmental Management Programmes, which incorporate plans to proactively address water, land, waste (non-hazardous and hazardous materials) and air quality management, energy consumption, and greenhouse gas emissions.
Since inception, we have been building meaningful partnerships with the communities our operations are based in.
Our interest is to ensure that the local communities see meaningful, sustainable upliftment from our commercial activities.
We see our employees, communities and organised labour as an intrinsic part of our business and are committed to building sustainable, healthy and cooperative relationships with them.
We operate on the principle of creating value beyond compliance in our socio-economic development initiatives.
The key target areas for socio-economic development initiatives of the company are education, human resource development and enterprise and supplier development.
At the heart of this strategy lies the Peo Matlafatso Trust – a community development trust established by Bushveld Minerals.
It aims to house a shareholding of up to 12,5% in the Vametco operations, which was allocated as part of Broad-Based Black Economic Empowerment shareholding in the purchase of Vametco.
Sustainable Development Goals
We have defined our strategy to contribute to a more sustainable society – aligned with the UN’s Sustainable Development Goals (SDGs):
Clean Water & Sanitation
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We have a number of ongoing water monitoring, water efficiency, and water recycling / recovery initiatives and are looking to provide excess purified water to communities.
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These initiatives relate to SDG Targets 6.3 and 6.4.
Affordable & Clean Energy
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Given the importance of battery storage solutions for renewable energy projects, as well as Bushveld Energy’s battery manufacturing operations and investments, there is a link to SDG Target 7.2.
Decent Work & Economic Growth
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We create jobs compliant with the sector health and safety standards aligned to SDG 8.5.
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We also developed Social & Enterprise Development initiatives, as well as preferential procurement policies that support SDG 8.3.
Industry Innovation & Infrastructure
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Bushveld Energy’s facility, which will make electrolytes for vanadium flow batteries in the Eastern Cape, directly supports SDG 9.2 through its local industrialisation efforts.
Responsible Consumption & Production
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We implemented several mineral and non-mineral waste management initiatives, and plan to take further action in this space. This supports SDGs 12.4 and 12.5.
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Given we have started reporting on its ESG matters and intend to launch the first sustainability report for 2021 next year, this contributes to SDG 12.6.
Climate Control
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We track and monitor emissions, and will continue to look for ways to improve our operations.
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This supports SDG Target 13.2.