Ivanhoé Mines aims to supply the Critical metals needed for the Energy transition in DRC

In its so-called “sustainable development 2022” report made public on April 13, 2023, Ivanhoé Mines indicated that its sustainable development strategy is shaped by a philosophy of “mining with a higher purpose”.

The report states that Ivanhoé Mines not only aims to provide the critical metals needed for the energy transition, but also seeks to be a forerunner in its approach to mining.

Indeed, the approach used in the 2022 Sustainability Report is based on the principles of good governance of people, planet and prosperity, as defined by the World Economic Forum and in line with the company’s vision to create shared value for shareholders and other stakeholders.

In fiscal 2022, Ivanhoe Mines notably:

 reported an overall reduction in total recordable injury frequency rate across all sites;

– achieved, or on track to achieve, 16 of the 17 sustainability goals and targets set for 2022;

– Kamoa-Kakula’s contribution to the Democratic Republic of Congo (DRC) was equivalent to approximately 4% of the country’s GDP;

– more than $95 million contributed to group-wide employee payroll in 2022, in addition to more than $70 million in local payroll taxes.

– currently, more than 97% of Kamoa-Kakula employees are Congolese;

– approximately $300 million was paid in government taxes and fees in 2022, of which more than $280 million was paid to the DRC government;

– $20 million spent on socio-economic development initiatives in all Ivanhoe host communities in 2022. An increase of more than 100% over 2021;

– representation of female employees group-wide increased to 10% from 9% in 2021. This is a significant achievement as the group-wide workforce grew by 20% in 2022 , led by Kamoa-Kakula. It should be noted that female representation at Platreef is now 27%, up from 23% in 2021;

– more than $1.2 billion spent with national suppliers across the group;

– 644 scholarships distributed group-wide;

– 322 formal and informal local businesses supported at group level compared to 66 in 2021;

– 76% of the energy consumed group-wide came from renewable sources, including state-owned hydroelectric facilities rehabilitated and financed by Kamoa-Kakula;

– 33% reduction in water consumption;

– Ivanhoe Mines joined the United Nations Global Compact (UNGC);

– Ivanhoe Mines joined the Extractive Industries Transparency Initiative (EITI).