Australian Exploration Company, Evolution Energy Minerals, announced their first Digbee score today as a key milestone in their ESG journey.

Evolution’s initial submission received an average “B” score from Digbee’s independent ESG experts. Recommendations made in the full report provide a clear pathway forwards.

Phil Hoskins, Managing Director at Evolution, was unequivocal about its significance:

“Project financiers and capital markets are placing increasing importance on ESG factors in their investment decisions.”

“Put simply, financiers will not consider an investment unless minimum ESG standards are met.”

“The engagement of Digbee to provide an independent and transparent assessment of our ESG performance is critically important as we seek to position Chilalo for development and align with the requirements of ESG-focused financiers.”

“The Digbee report also identifies key areas for improvement and sets out something of a road map that will support efforts to integrate ESG considerations throughout our business. Work to address those areas for improvement is already under way.”

The Chilalo Graphite Project, located in southern Tanzania, is set to be the world’s first net zero graphite mine. Photo by Hu Chen on Unsplash

Evolution’s commitment to progress

Key areas identified as part of the disclosure process are already being worked through and  include:

Environmental
  • Reduction in carbon footprint being pursued via renewable power solution.
  • Potential removal of tailings storage facility by dry stacking of tailings.
Social
  • Completion of an updated Relocation Action Plan.
Governance
  • Putting in place certain documents, plans and activities.
  • Making ESG information transparent and accessible to all stakeholders.

More about Evolution Energy Minerals

Evolution is committed to supplying sustainable graphite solutions for the global green economy and in doing so, create the first net zero carbon graphite mine. A DFS confirmed the opportunity to produce high-quality flake graphite at Chilalo and the Company intends to apply Chilalo flake graphite to downstream processing to produce battery anode material, expandable graphite, micronised graphite and graphite foil.

More information can be found in their press release.

About Digbee ESG

Digbee ESG is an ESG disclosure platform for the mining industry. A future-looking, right-sized set of frameworks, aligned to the key global standards and accepted by leading stakeholders. It hugely simplifies ESG disclosure, rewards management for the action they take on the ground and in the boardroom, and fulfils the Board’s increasing obligation to ESG.

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