ESG Certification

Independent, third-party review of our ESG and sustainability practices and objectives is a key component of our commitment to creating long-term value for all our stakeholders through integrating ESG best practice into the ongoing development of the Company.

Since 2021, Marimaca has completed an annual independent ESG performance assessment via the Digbee ESG reporting framework, to evaluate Company and project ESG credentials. The Digbee framework assessment includes the completion of a set of comprehensive corporate and project questionnaires appropriate to the scope of the Marimaca project and mapped to key Global Standards. The assessment required the provision of relevant corporate and project data, narrative and supporting evidence. Our disclosure was board-approved prior to submission and assessed by independent mining ESG experts to produce an impartial rating, resulting in a specific ESG certification. Scores are also peer-reviewed as part of the assessment, to ensure accuracy and credibility.

 Some of the global standards Digbee aligns to

 For 2023, we are proud to have achieved a score of A within a range of CCC to AAA. This reflects our ongoing commitment to improving our ESG metrics. In 2021, we received a score of BB, which improved to BBB in 2022, and now to A in 2023. Many of our projects and corporate scores were ranked at A or higher. Full details of the report can be found here“.

Overarching positive conclusions drawn from the 2023 assessment: 

1. This is the third year that the Company has been assessed using the Digbee framework, indicating a strong commitment to ESG and continued transparency in governance practices.
    
2. The Company has secured a water option to purchase recycled seawater from the Bay of Mejillones for operational use, further reducing the environmental impact of the operation.
    
3. Mitsubishi has purchased a 5% stake in the company citing positive alignment with the Company due to their strong ESG performance and objectives as a key factor in the investment decision. The presence of a multinational shareholder such as Mitsubishi will also have a positive effect on Marimaca as they can learn from and adopt comprehensive practices in terms of procurement, modern slavery, health and safety, and governance and assurance.

4. The Company has pioneered a new approach to mine development by completing their permitting submission in advance of the currently ongoing full feasibility study in order to incorporate feedback received in the final operating design.

5. The majority of the workforce is drawn from the local population, within the Antofagasta region and northern Chile. In the future, the Company expects to employ 95% of its workforce from the local area thanks to the availability of experienced local skilled people due to the long history of mining in the area.
6. Risk management is integrated across the organisation, and is used to support decision making at a senior level.

7. The Board has a diverse skill set relating to finance, government relations, accounting, and mining, and is well equipped and experienced to successfully progress the project from exploration to development.

8. The Company is not reliant on groundwater for current or anticipated future use, ensuring what scarce continental water is available can be drawn by the local population.
9. Currently the overwhelming majority of goods and services are locally procured.