Sustainability and ESG at Boab Metals Ltd
Working in the Kimberley is a unique privilege. We are surrounded by some of the most impressive biodiversity on the planet, and we have a responsibility to preserve that for future generations.
Boab Metals Limited (BML) is committed to investing in the communities, environment and people who enable us to operate in the area. Sustainability is embedded in our policies, practices, values and actions.
As the Sorby Hills Project progresses towards production, we have taken a holistic view of sustainability to ensure our actions across the mine’s life cycle meet the highest ESG standards.
Why our actions matter
Our commitment to sustainability is about more than becoming an attractive ESG stock.
Through our systematic approach to environmental stewardship, we aim to continually improve our performance and reduce our footprint.
By investing in local projects and employing local people, we hope to develop lasting relationships that benefit Kimberley communities now and into the future.
And by striving to perform at our best with high governance standards, we are creating a respectful, safe and empowering place to work.
Sustaining environments, building communities
Australia may not be at the forefront of ESG (environmental, social and governance) investing, but we have made strong progress in recent years.
Australian investors poured more than $3 billion into ESG equity funds in 2021.
ESG stocks on the ASX outperform regular investments. More companies are moving from reactive sustainability and CSR reporting to proactive, holistic ESG strategies.
It’s a good sign of things to come.
As ethical and financial performance become more closely tied through ESG stocks on the ASX, companies investing in good governance will benefit.
What we’re doing to leave the area better than we found it
Boab Metals owns 75% of the Sorby Hills Project, located 50km from Kununurra in a rugged and awe-inspiring part of the country.
Remote as it might be, the Kimberley is significant for all Australians. Preserving the land and supporting local communities is an investment in our future.
Donating wastewater
Australia’s mining industry consumes around 760 gigalitres of water each year. Although that is a mere 4.4% of the nation’s total water use, it’s well known that we can’t afford to waste water.
More than 80% of the mine water comes from recycled or reclaimed sources, reducing freshwater consumption by 50%.
And we’re taking things a step further, seeking to donate usable wastewater to nearby agricultural projects. Providing local agriculturalists with usable water reduces the need for fresh water in the region and supports a local business that relies heavily on this precious natural resource.
Investing in education
Boab Metals is proud to support Teach Learn Grow (TLG) in the East Kimberley region.
Our partnership with TLG enabled the organisation to travel to the region for the first time, delivering education programs to Wyndham District High School students.
TLG is committed to closing the education gap in Australia. In rural and remote areas like the Kimberley, this work is especially important, and the logistical barriers are especially high.
Closing the education gap takes time, and Boab Metals Limited is here for the long haul.
Renewable energy
The Ord River hydroelectric plant, which powers Kununurra is expected to meet the majority of Sorby Hills’ power demands.
In a Heads of Agreement with Horizon Power, we are working to secure a 10-year supply of cleaner, cheaper electricity with the option to extend this agreement.
As well as delivering economic benefits compared to a build-own-operate power model, drawing power from the Ord River hydroelectric plant potentially reduces the project’s environmental footprint.
EPA approval
Western Australia’s mining industry is a global leader in environmental stewardship.
The model of environmental approvals regulated by the State Government holds miners to high standards, aiming to “protect environmental, cultural and community values while promoting responsible mining activities”.
Securing approval from the Environmental Protection Authority (EPA) is a multi-stage process.
The Sorby Hills Project first secured EPA approval for and open pit mine and associated infrastructure in 2014. In 2022, we received an amendment allowing us to potentially commence site establishment and early works.
Work cannot go ahead without EPA approvals – and rightfully so.
Securing the EPA amendment is a vote of confidence in our environmental management and a key milestone on the road to finalising the Mining Proposal currently in front of DMIRS.
Looking long-term
Boab Metals Limited remains committed to sustainability across the mining life cycle.
The benefits go far beyond our financial performance as an ESG stock on the ASX.
Investing in local communities and protecting our natural environment pays dividends for future generations. It also benefits the people living and working in the Kimberley today.
Our biodiversity and vibrant cultural heritage are worth protecting. As Sorby Hills moves forward, we remain focused on maintaining our high governance standards at every stage of development.