Caledonia Mining Corporation Plc: Publication of 2023 ESG Report

Rhea-AI Summary

Caledonia Mining Plc (NYSE AMERICAN, AIM and VFEX: CMCL) has published its 2023 ESG Report, aligning with GRI and SASB standards for the first time. Key highlights include:

- 14% reduction in Scope 1 and 2 greenhouse gas emissions
- 62% reduction in diesel used in generators
- 18% of total water consumption from recycled water
- Total Injury frequency rate (TIFR) of 0.96
- 100% local employment at Blanket Mine and 92% local suppliers
- US$1.5m spent on corporate social responsibility
- US$19.2m total payments to Government
- 11% female representation on Board of Directors (increased to 25% in 2024)
- 33% female representation among senior corporate management

CEO Mark Learmonth emphasized the company's commitment to responsible operations and sustainable practices in Zimbabwe, highlighting the appointment of Colleen Parkins as Head of ESG and the installation of a 12.2 MWac solar plant.

Caledonia has enhanced its sustainability reporting to align with GRI and SASB standards

ST HELIER, Jersey, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc (“Caledonia” or “the Company”) (NYSE AMERICAN, AIM and VFEX: CMCL) announces the publication of its 2023 ESG Report. The full report is available on the Company's website at www.caledoniamining.com/esg/esg-reports/.

Caledonia has enhanced its sustainability reporting to align with the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) standards for the first time. This reflects the Company’s sustainable business principles and significance of environmental, social, and governance (ESG) management in its corporate strategy.

Mark Learmonth, Chief Executive Officer, said:

“I am pleased to present Caledonia’s fourth annual ESG report, and our first prepared in line with the GRI, increasing the robustness of our ESG linked disclosures and overall transparency. This was one of several steps taken in 2023 to reinforce our commitment to ESG and responsible operations. We also appointed Colleen Parkins as Head of ESG, a new management level position at Caledonia, ensuring that ESG is fully integrated into our everyday discussions and decision making.

“A major operational highlight in 2023 was the substantial 14% reduction in Scope 1 and 2 greenhouse gas emissions; this was made possible following the installation of our 12.2 MWac solar plant, which has decreased our reliance on both the local grid and diesel generators.

“We regard operating in Zimbabwe as exciting both in terms of geological and human potential and have long recognised that operating responsibly is not just a moral obligation, but a business imperative.

“As our sustainability processes and data capturing mature, we are confident that we will be able to develop emission reduction targets backed up by climate science and geographic realities. While proud of the progress made to date, we know there remains more to do, and we look forward to further updating you in our next report on our progress on our continued efforts to operate responsibly and sustainably while maximising benefits for our stakeholders.”

2023 Highlights

Environment:

• 14% reduction in Scope 1 and 2 greenhouse gas emissions
• 62% reduction in diesel used in generators
• 18% of total water consumption consisting of recycled water
  

Health and Safety:

• Total Injury frequency rate (TIFR) of 0.96 (2022:0.75)
• 505 employees completed safety training programmes

Supporting Local Communities:

• 100% local employment at Blanket Mine and 92% local suppliers
• US$1.5m spent on corporate social responsibility at Blanket Mine (2022: $0.9m)
• US$19.2m total payments to Government (2022: US$ 19.2m)
  

Diversity and Inclusion:

• $147,038 spent on community support for women
• 11% female representation on Board of Directors; this has risen to 25% in 2024
• 33% female representation among senior corporate management
  

Enquiries:

Caledonia Mining Corporation Plc
Mark Learmonth	Tel: +44 1534 679 800
Camilla Horsfall	Tel: +44 7817 841 793
Cavendish Capital Markets Limited (Nomad and Joint Broker)	Tel: +44 207 397 1965
Adrian Hadden	Tel: +44 131 220 9775
Pearl Kellie
Panmure Liberum Limited (Joint Broker)
Scott Mathieson/Matt Hogg	Tel: +44 20 3100 2000
Camarco, Financial PR (UK)
Gordon Poole	Tel: +44 20 3757 4980
Julia Tilley
Elfie Kent
3PPB (Financial PR, North America)
Patrick Chidley	Tel: +1 917 991 7701
Paul Durham	Tel: +1 203 940 2538
Curate Public Relations (Zimbabwe)
Debra Tatenda	Tel: +263 77802131
IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe)	Tel: +263 (242) 745 119/33/39
Lloyd Mlotshwa

FAQ

What were Caledonia Mining's (CMCL) key ESG achievements in 2023?

Caledonia Mining (CMCL) achieved a 14% reduction in Scope 1 and 2 greenhouse gas emissions, 62% reduction in diesel use for generators, and 18% of water consumption from recycled sources. They also maintained 100% local employment at Blanket Mine and spent US$1.5m on corporate social responsibility.

How has Caledonia Mining (CMCL) improved its ESG reporting in 2023?

Caledonia Mining (CMCL) enhanced its sustainability reporting by aligning with Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) standards for the first time in 2023, increasing the robustness of their ESG-linked disclosures and overall transparency.

What steps has Caledonia Mining (CMCL) taken to reduce its environmental impact?

Caledonia Mining (CMCL) installed a 12.2 MWac solar plant, which helped reduce Scope 1 and 2 greenhouse gas emissions by 14% and diesel use in generators by 62%. They also increased their use of recycled water to 18% of total water consumption.

How is Caledonia Mining (CMCL) supporting local communities in Zimbabwe?

Caledonia Mining (CMCL) supports local communities by maintaining 100% local employment at Blanket Mine, using 92% local suppliers, spending US$1.5m on corporate social responsibility, and making total payments of US$19.2m to the Zimbabwe government in 2023.

What is Caledonia Mining's (CMCL) approach to diversity and inclusion?

Caledonia Mining (CMCL) focuses on diversity and inclusion with 11% female representation on the Board of Directors (increased to 25% in 2024), 33% female representation in senior corporate management, and US$147,038 spent on community support for women in 2023.