Evolution Energy Minerals is committed to meeting high Environment, Social and Governance (ESG) standards as it develops the Chilalo Graphite Project in Tanzania.
Evolution recognises that sustainable success in resource development requires that its activities are conducted in a manner that respects the environment, local communities, the sovereignty of Tanzania generally (as the owner of its natural resources) and processes of good governance.
The Company has attracted ARCH Sustainable Resources Fund LP as a cornerstone substantial shareholder.
ARCH is a specialist emerging markets investment fund with deep experience in emerging markets, private equity, asset management and legal and governance matters. A central element of ARCH’s investment philosophy is its focus on ESG principles. ARCH also has significant project finance expertise and its associated funds have co-invested alongside several development finance institutions in Africa.
Under the terms of the Investment Deed, Evolution has agreed to a course of action to advance its ESG credentials and embed its ESG commitments in its corporate governance structures. The Company recognises the increasing importance being attributed by investors to ESG performance as a driver for attracting investment funds.
The Directors have prioritised ESG performance as a key feature of Evolution’s strategy and approach to its operations.
ARCH’s significant investment not only underpins the Company’s commitment to ESG standards, but also provides the Company with critical insight into the expectations of ESG fund managers with respect to ESG standards. Together with its prioritisation of ESG performance, this will enable Evolution to be positioned as an attractive investment proposition for a wide range of ESG-focused fund managers.
Graphite has been designated a strategic critical mineral by USA, EU and Japan
- Pursuit of carbon neutrality for operations
- Confirming dry stacking tailings
- Committed to renewable power solution
- Local job creation – Chilalo to generate 230 direct jobs for potential multi-decade mine life
- Updated Relocation Action Plan nearing completion including livelihood restoration
- Supporting regional food security – Evolution assisting to substitute lost Ukrainian grain
- Full product transparency and traceability including adherence to ISO: 8001 (Quality)
- ESG Committee established
- Board will voluntarily stand for re-election and cancel performance-based remuneration for material breach of EV1 ESG policies
Resettlement Action Plan
Pre-requisite for Project development
- Approved by the Government of Tanzania and local communities – first round of compensation payments made in Q3 2022
- Completed in accordance with IFC Principles
- Includes cash compensation and comprehensive livelihood restoration programs
Commitment to transparency
- Digbee is the leading independent assessment platform for ESG disclosure in the mining sector
- Initial ESG rating of ‘B’ received in February 2022
- ESG initiatives implemented during the past 12 months expected to drive an improved ESG rating, expected in H1 2023
Pursuing net zero carbon emissions
Life cycle assessment shows favourable global warming potential comparison
Global Warming Potential Comparison Scenarios
EU initiatives forcing a change
Our Environmental Advantage
Chilalo +99% through flotation – the future for purification?
Chilalo graphite could become the ‘greenest’ source of graphite to ESG-focused customers
Unique graphite signature capable of producing +99% LOI through flotation
Removes harmful chemicals and intense energy required for purification