With the Prospectors & Developers Association of Canada (“PDAC”) convention back in Toronto, Canada, I’ll discuss the four days Sustainability Sessions agenda as I view Environmental, Social, and Governance (“ESG”). I’ll include these comments in each weekly update of my “ESG and Critical Minerals Development” series. See after the Vanadium table.
The process of contacting key Australian Stock Exchange-listed Critical Minerals companies to get their views on ESG continued this week. I am looking to assuage the concerns of some of our stakeholders as to the ESG credentials of those Australia-based organizations that are in a position to supply and add value to the Critical Minerals shortage the world is now facing. The questions are not designed as a platform for investment decisions, but as an important step towards letting you know what their values are, what their achievements have been, and where they see our industry heading. The reference table will include the company name, the ASX Ticker code, their website reference, their current Market Capitalization, and their response to the ESG questionnaire.
The reference table will include all of the Australia-based companies that qualify for the Australian Critical Minerals Strategy.
The questions were:
- A brief description of your activities
- How do you define ESG?
- What should stakeholders be aware of in your approach to ESG?
- How do you see ESG becoming an important function in the future?
- Do you have any ESG lessons learned that you may wish to share?
I have updated the Rare Earths reference table and am still to receive any responses. (See Appendix A: ESG in Rare Earths development)
I have updated the Lithium reference table to include the response of Ian Bucknell of Ioneer Ltd. (Thanks Ian.) (See Appendix B: ESG in Lithium development.)
I recommend for people interested in ESG, they should read the Ioneer 2022 Sustainability and ESG Report. Their approach using the Towards Sustainable Mining (TSM) framework is first class and looks to have today’s ESG needs well covered.
Below is the Vanadium reference table. In the next issue will be the Cobalt table. Each issue will allow access to the tables via links and similarly with the ESG responses from the queried companies.
| Vanadium Company (Ticker link to Share Price History) | Web Site | Mkt Cap AUS$ (Mar 2 2023) | ESG Response |
| Aura Energy Ltd (ASX: AEE) | www.auraenergy.com.au | $157.43M | Queried Mar 4 |
| Australian Vanadium Ltd (ASX: AVL) | www.australianvanadium.com.au | $144.00M | Queried Mar 4 |
| Golden Deeps Ltd (ASX: GED) | www.goldendeeps.com | $9.36M | |
| Liontown Resources Ltd (ASX: LTR) | www.ltresources.com.au | $3.14B | Queried Mar 4 |
| Neometals Ltd (ASX: NMT) | www.neometals.com.au | $454.35M | Queried Mar 4 |
| Protean Energy Ltd (ASX: POW) | www.proteanenergy.com | $5.2M | |
| Pursuit Minerals Ltd (ASX: PUR) | www.pursuitminerals.com.au | $24.76M | Queried Mar 4 |
| QEM Ltd (ASX: QEM) | www.qldem.com.au | $28.36M | Queried Mar 4 |
| Red Dirt Metals Ltd (ASX: RDT) | www.reddirtmetals.com.au | $167.00M | Queried Mar 4 |
| Sabre Resources Ltd (ASX: SBR) | www.sabreresources.com | $9.02M | |
| Santa Fe Minerals Ltd (ASX: SFM) | www.santafeminerals.com.au | $5.46M | |
| SI6 Metals Ltd (ASX: SI6) | www.si6metals.com | $4.49M | |
| Surefire Resources.NL (ASX: SRN) | www.surefireresources.com.au | $30.99M | Queried Mar 4 |
| Syrah Resources Ltd (ASX: SYR) | www.syrahresources.com.au | $1.30B | Queried Mar 4 |
| Technology Metals Australia Ltd (ASX: TMT) | www.tmtlimited.com.au | $61.90M | Queried Mar 4 |
| Tivan Limited (ASX: TVN) | www.tivan.com.au | $118.12M | Queried Mar 4 |
| Triton Minerals Ltd (ASX: TON) | www.tritonminerals.com | $38.72M | Queried Mar 4 |
| Venus Metals Corporation Ltd (ASX: VMC) | www.venusmetals.com.au | $29.19M | Queried Mar 4 |
| Vanadium Resources Ltd (ASX: VR8) | www.vr8.global | $31.49M | Queried Mar 4 |
Again, as an aside, if I was responsible for responding to the above query, I would also publish that response to the ASX and include it on the website for an ongoing reference.
PDAC 2023 – The World’s Premier Mineral Exploration & Mining Convention
Sustainability Program
“The Sustainability Program aims to facilitate multi-stakeholder dialogue and peer-learning on key issues related to responsible exploration and mining.”
“The Sustainability Program features presentations and dialogue that examine the innovative ways in which mineral exploration and mining companies are working to improve their sustainability performance, presenting challenges and successes, as well as lessons learned. Topics discussed at the Sustainability Program are both current and critical to the continued improvement of the performance in the industry.”
Sunday, March 5, 2023
- Operationalizing the “S” in ESG: Does it matter to investors?
- Negotiating agreements in early exploration: Best practice MOU’s and EA’s
Monday, March 6, 2023
- Differentiate your company and attract investment through ESG performance and reporting
- Leveraging agreements for Indigenous economic inclusion: Practical implementation
- The amazing race to decarbonize
- Is the future nuclear? Community and industry perspectives
Tuesday, March 7, 2023
- Planning for sustainable mineral development 101
- Navigation complex waters: Tools for security, conflict and human rights
- Changing global rules? The impact of EU’s raw materials strategy
Wednesday, March 8, 2023
- Addressing sexual harassment: Exploring obligations, risks and solutions in Canadian mining
Looking at the articles to be presented they can also be considered as sub-sets of the 5 questions that I have forwarded to the ASX listed Critical Mineral companies. I would be very interested if any of you attend PDAC 2023 and are part of the Sustainability Program. Could you comment as to their articles and the appropriateness and coverage of my questions?
ESG and Critical Mineral Development
Question 2: How do you define ESG?
I want to get something off my chest that has been brewing for the last few years. I am so disappointed in our Corporate world. They have lost control of the ESG agenda. Instead of leading, they have stayed mute and allowed the left-wing woke brigade to establish their agenda. Let me explain.
In my career building management systems in the resources industry, I used a term called SEQ management. That was Safety, Environment, and Quality. Done properly, it totally covered the now ESG agenda, but with a key difference. And what is the difference, you may ask? Simple. We were in control of the agenda. You see, I see ESG (then SEQ) not as your social license, since that is undefinable, but as your social credentials.
Environmentally, you certify your systems to the ISO standard. In Safety and Health, again the ISO standards are available. The Quality systems look after your production processes. Supported by improvement groups working on the key issues, you are set up to handle any issue that may arise. Or that you may want to stay in front of. You are in control. But you may say that the new issues such as climate change, inclusion, or equality are not covered. Well, they are. Climate change is controlled by having the lowest power consumption in your industry group. You may wish to include CO2 emissions equivalent if you wish, and it makes economic sense to do that. Inclusion can be treated under your health management systems and processes. Equality can be dealt with similarly.
Had the Corporate world been in front of SEQ then the ESG wave would have stayed a ripple, instead of a tsunami, as some folks see it. And you would be in front of it, instead of seeing it reactively as a challenge. Still, it’s with us now. Get in front and be public about your results. Have a read of the Ioneer report referenced earlier. It can be done.
Appendix A: ESG in Rare Earths development
| Rare Earths Company (Ticker link to Share Price History) | Web Site | Mkt Cap AUS$ (Mar 5, 2023) | ESG Response |
| Alpha Hpa Ltd (ASX: A4N) | www.Alphahpa.com.au | $630.31M | Queried Feb 15 |
| ABX Group Ltd (ASX: ABX) | www.abxgroup.com.au | $29.07M | |
| Alkane Resources Ltd (ASX: ALK) | www.alkane.com.au | $428.14M | Queried Feb 15 |
| Alchemy Resources Ltd (ASX: ALY) | www.alchemyresources.com.au | $18.85M | |
| American Rare Earths Ltd (ASX: ARR) | www.americanrareearths.com.au | $100.53M | Queried Feb 15 |
| Arafura Rare Earths Ltd (ASX: ARU) | www.arultd.com | $1.15B | Queried Feb 15 |
| Austin Metals Limited (ASX: AYT) | www.austinmentals.com.au | $4.54M | |
| Australian Mines Ltd (ASX: AUZ) | www.australianmines.com.au | $23.37M | |
| Australian United Mining Ltd (ASX: AYM) | www.australianunitedmining.com.au | $5.53M | |
| Australian Strategic Materials Ltd (ASX: ASM) | www.asm-au.com | $260.06M | Queried Feb 15 |
| Encounter Resources Ltd (ASX: ENR) | www.encounterresorces.com.au | $51.55M | |
| Enova Mining Ltd (ASX: ENV) | www.enovamining.com | $4.69M | |
| Hastings Technology Metals Ltd (ASX: HAS) | www.hastingstechmetals.com | $310.03M | Queried Feb 15 |
| Iluka Resources Ltd (ASX: ILU) | www.iluka.com | $4.64B | Queried Feb 15 |
| Ionic Rare Earths Ltd (ASX: IXR) | www.ionicre.com.au | $143.12M | Queried Feb 15 |
| Krakatoa Resources Ltd (ASX: KTA) | www.ktaresources.com | $13.11M | |
| Legacy Iron Ore Ltd (ASX: LCY) | www.legacyiron.com.au | $92.26M | Queried Feb 15 |
| Lindian Resources Ltd (ASX: LIN) | www.lindianresources.com.au | $220.20M | Queried 15 Feb |
| Lanthanein Resources Ltd (ASX: LNR) | www.lanthanein.com | $18.17M | |
| Lynas Rare Earths Ltd (ASX: LYC) | www.lynasrareearths.com | $7.06B | Queried Feb 15 |
| Minbos Resources Ltd (ASX: MNB) | www.minbos.com | $100.12M | Queried Feb 15 |
| Mount Ridley Mines Ltd (ASX: MRD) | www.mtridleymines.com.au | $15.57M | |
| Northern Minerals Ltd (ASX: NTU) | www.northernminerals.com.au | $210.21M | Queried Feb 15 |
| Nova Minerals Ltd (ASX: NVA) | www.novaminerals.com.au | $113.85M | Queried Feb 15 |
| Orion Metals Ltd (ASX: ORM) | www.orionmetals.com.au | $16.35M | |
| Peak Rare Earths Ltd (ASX: PEK) | www.peakrareearths.com | $135.40M | Queried Feb 15 |
| Platina Resources Ltd (ASX: PGM) | www.platinaresources.com.au | $10.66M | |
| Prospect Resources Ltd (ASX: PSC) | www.prospectresources.com.au | $94.76M | |
| Petratherm Ltd (ASX: PTR) | www.petratherm.com.au | $14.61M | |
| RareX Ltd (ASX: REE) | www.clancyexploration.com | $30.71M | |
| Sunshine Gold Ltd (ASX: SHN) | www.shngold.com.au | $14.24M | |
| Stavely Minerals Ltd (ASX: SVY) | www.stavely.com.au | $73.38M | |
| Tempus Resources Ltd (ASX: TMR) | www.tempusresources.com.au | $12.47M | |
| Todd River Resources Ltd (ASX: TRT) | www.trrltd.com.au | $9.46M | |
| Venus Metals Corporation Ltd (ASX: VMC) | www.venusmetals.com.au | $27.60M | |
| Vital Metals Ltd (ASX: VML) | www.vitalmetals.com.au | $140.35M | Queried Feb 15 |
Appendix B: ESG in Lithium development
| Lithium Company (Ticker link to Share Price History) | Web Site | Mkt Cap AUS$ (Feb. 25, 2023) | ESG Response |
| Aurora Energy Metals Ltd (ASX: 1AE) | www.auroraenergymetals.com | $14.12M | |
| Australasian Metals Ltd (ASX: A8G) | www.australasiangold.com | $8.59M | |
| Ardiden Ltd (ASX: ADV) | www.ardiden.com.au | $18.82M | |
| Argosy Minerals Ltd (ASX: AGY) | www.argosyminerals.com.au | $1.03B | Queried Feb 26 |
| Allkem (ASX: AKE) | www.allkem.co | $7.88B | Queried Feb 26 |
| Arrow Minerals Ltd (ASX: AMD) | www.arrowminerals.com | $8.57M | |
| Anson Resources Ltd (ASX: ASN) | www.ansonresources.com | $229.97M | |
| Australian Vanadium Ltd (ASX: AVL) | www.australianvanadium.com.au | $135.27M | |
| BMG Resources Ltd (ASX: BMG) | www.bmgl.com.au | $5.56M | |
| Benz Mining Corp (ASX: BNZ) | www.benzmining.com | $52.05M | |
| Boadicea Resources Ltd (ASX: BOA) | www.boadicea.net.au | $7.03M | |
| Cullen Resources Ltd (ASX: CUL) | www.cullenresources.com.au | $7.06M | |
| Core Lithium Ltd (ASX: CXO) | www.corelithium.com.au | $1.77B | Queried Feb 26 |
| De Grey Mining Ltd (ASX: DEG) | www.degreymining.com.au | $2.31B | Queried Feb 26 |
| Devex Resources Ltd (ASX: DEV) | www.devexresources.com.au | $98.44M | |
| Dart Mining NL (ASX: DTM) | www.dartmining.com.au | $7.31M | |
| European Metals Holdings Ltd (ASX: EMH) | www.europeanmet.com | GBP69.45M | |
| Essential Metals Ltd (ASX: ESS) | www.essmetals.com.au | $132.45M | |
| European Lithium Ltd (ASX: EUR) | www.europeanlithium.com | $97.14M | |
| EV Resources Ltd (ASX: EVR) | www.evresources.com.au | $11.23M | |
| Global Lithium Resources Ltd (ASX: GL1) | www.globallithium.com.au | $336.85M | |
| Galan Lithium Ltd (ASX: GLN) | www.galanlithium.com.au | $359.09M | |
| Hannans Ltd (ASX: HNR) | www.hannans.com | $35.42M | |
| Hawkstone Mining Ltd (ASX: HWK) | www.hawkstonemining.com.au | $148.99M | |
| Infinity Lithium Corporation Ltd (ASX: INF) | www.infinitylithium.com | $50.89M | |
| Ioneer Ltd (ASX: INR) | www.ioneer.com | $744.91M | Reply Feb 28 |
| Jindalee Resources Ltd (ASX: JRL) | www.jindalee.net | $148.61M | |
| Korab Resources Ltd (ASX: KOR) | www.korabresources.com.au | $7.71M | |
| Krakatoa Resources Ltd (ASX: KTA) | www.ktaresources.com | $13.11M | |
| Li-S Energy Ltd (ASX: LIS) | www.lis.energy | $48.94M | |
| Lithium Australia Ltd (ASX: LIT) | www.lithium-au.com | $46.44M | |
| Lake Resources NL (ASX: LKE) | www.lakeresources.com.au | $852.02M | Queried Feb 26 |
| Lanthanein Resources Ltd (ASX: LNR) | www.lanthanein.com | $18.17M | |
| Lepidico Ltd (ASX: LPD) | www.lepidico.com | $143.97M | |
| Lithium Power International Ltd (ASX: LPI) | www.lithiumpowerinternational.com | $220.31M | |
| Latin Resources Ltd (ASX: LRS) | www.latinresources.com.au | $242.64M | |
| Liontown Resources Ltd (ASX: LTR) | www.ltresources.com.au | $3.58B | Queried Feb 26 |
| Mineral Resources Ltd (ASX: MIN) | www.mineralresources.com.au | $17.17B | Queried Feb 26 |
| Metals Australia Ltd (ASX: MLS) | www.metalsaustralia.com.au | $26.82M | |
| Marquee Resources Ltd (ASX: MQR) | www.marqueeresources.com.au | $9.49M | |
| Morella Corporation Ltd (ASX: 1MC) | www.morellacorp.com | $73.18M | |
| Neometals Ltd (ASX: NMT) | www.neometals.com.au | $436.78M | Queried Feb 26 |
| Nova Minerals Ltd (ASX: NVA) | www.novaminerals.com.au | $113.85M | |
| Piedmont Lithium Inc (ASX: PLL) | www.piedmontlithium.com | $1.68B | Queried Feb 26 |
| Pilbara Minerals Ltd (ASX: PLS) | www.pilbaraminerals.com.au | $12.53B | Queried Feb 26 |
| Power Minerals Ltd (ASX: PNN) | www.pepinnini.com.au | $30.34M | |
| Poseidon Nickel Ltd (ASX: POS) | www.poseidon-nickel.com.au | $113.35M | |
| Prospect Resources Ltd (ASX: PSC) | www.prospectresources.com.au | $94.76M | |
| Red Dirt Metals Ltd (ASX: RDT) | www.reddirtmetals.com.au | $175.74M | |
| Rio Tinto Ltd (ASX: RIO) | www.riotinto.com | $181.74B | Queried Feb 26 |
| Reedy Lagoon Corporation Ltd (ASX: RLC) | www.reedylagonn.com.au | $5.10M | |
| Strike Resources Ltd (ASX: SRK) | www.strikeresources.com.au | $21.85M | |
| Sayona Mining Ltd (ASX: SYA) | https://sayonamining.com.au/about/ | $2.04B | Queried Feb 26 |
| Taruga Minerals Ltd (ASX: TAR) | www.targunaminerals.com.au | $10.80M | |
| Tempest Minerals Ltd (ASX: TEM) | www.tempestminerals.com | $11.14M | |
| Traka Resources Ltd (ASX: TKL) | www.trakaresources.com | $4.34M | |
| Todd River Resources Ltd (ASX: TRT) | www.trrltd.com.au | $9.46M | |
| Venus Metals Corporation Ltd (ASX: VMC) | www.venusmetals.com.au | $27.60M | |
| Vulcan Energy Resources Ltd (ASX: VUL) | www.v-er.com | $867.78M | Queried Feb 26 |
| Woomera Mining Ltd (ASX: WML) | www.woomeramining.com.au | $11.47M | |
| Zenith Minerals Ltd (ASX: ZNC) | www.zenithminerals.com.au | $77.38M |
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