TIDMTHS
RNS Number : 2686N
Tharisa PLC
29 September 2021
Tharisa plc
(Incorporated in the Republic of Cyprus with limited
liability)
(Registration number HE223412)
JSE share code: THA
LSE share code: THS
A2X share code: THA
ISIN: CY0103562118
LEI: 213800WW4YWMVVZIJM90
('Tharisa' or the 'Company')
THARISA ANNOUNCES DECARBONISATION TARGETS
30% reduction in emissions by 2030, carbon net neutral by
2050
Tharisa, the platinum group metals ('PGMs') and chrome
co-producer dual-listed on the Johannesburg and London stock
exchanges, has been reviewing its operations with respect to
establishing a corporate plan to reduce its carbon emissions while
continuing to grow its operations in producing metals that are
needed to affect the energy transition away from fossil fuels and
deliver the decarbonisation of economies.
Tharisa's management is committed to reduce its carbon emissions
by 30% by 2030 (from its 2020 financial year ('FY2020') baseline
which uses 2019 data) and the development of a roadmap is
continuing to net carbon neutral by 2050 ('Decarbonisation
Targets'). Investment decisions taken by Tharisa's board will be
informed by this Decarbonisation Targets, alongside the current
financial investment criteria. Furthermore, this roadmap being
developed will ensure that the pre-defined Decarbonisation Targets
are achieved through the deployment of numerous sustainability
initiatives.
The first step on this journey for Tharisa has been to establish
a robust baseline for current operations. The Company will be using
the FY2020 results as the baseline for its Decarbonisation Targets
and will use both the relative carbon intensity and absolute carbon
intensity measurements due to the significant growth that the
Company envisages over the coming years.
In ensuring that the growth of the Company does not affect the
Decarbonisation Targets, numerous sustainability initiatives are
being developed and some are in advanced stages and will be
implemented within the next 24 months.
This decarbonisation plan is one part of our broader
sustainability programme. The reduction in emissions from the
baseline established for scopes 1, 2 and 3 emissions (see
definitions below(1) ) will be disclosed on a periodic basis
alongside our financial results. Tharisa aims to generate and
utilise renewable electricity and to reduce the use of electricity
produced from fossil fuel and enable electricity grid power
purchases to be optimised. It will also look to reduce the carbon
intensity of fuels used in its truck fleet as vehicles come to be
replaced, taking advantage of advances in alternative fuels,
including hydrogen and battery electric drivetrains.
Recognising that what lies ahead is an energy transition, major
projects in the first phase of emissions reduction will include the
introduction of natural gas and biodiesel as fuel components. In
addition, the use of solar power generation technology alongside
traditional electricity storage capacity and in house innovations
are being investigated.
The Decarbonisation Targets are one part of our broader
sustainability programme, and Tharisa will announce a further
detailed framework within FY2022.
Phoevos Pouroulis, CEO of Tharisa, commented:
"At Tharisa, we view safety as a core value. The footprint we
leave on the broader stakeholder environment is equally as
important to us. As an industry, we must focus on the management
and mitigation of mining activities, which by their very nature
have an impact on the environment and local communities and we
strive to balance this with the positive impact we are generating
for stakeholders and our community by developing our business
sustainably and responsibly.
We have today outlined our decarbonisation targets to be
achieved by specific points in time. Further refinements in, and
details about, these targets will be announced over time, but we
will strive to exceed these initial targets, both in quantum and
speed of achievement. The world faces an enormous challenge to
decarbonise rapidly and Tharisa will do its part to achieve carbon
neutrality by 2050.
We have a global and significant part to play by producing some
of the critical metals necessary to affect the decarbonisation of
our planet generally and the energy transition specifically. Our
research team and industrial partnership relationships are focused
on this, and our Board supports the strategy to create a more
sustainable future for Tharisa, its customers and its wider
stakeholders."
Tharisa Scope Emissions(1)
Scope 1 emissions: Are direct greenhouse (GHG) emissions that
occur from sources that are controlled or owned by an organization
(e.g., emissions associated with fuel combustion in boilers,
furnaces, vehicles).
Scope 2 emissions: Indirect GHG emissions associated with the
purchase of electricity, steam, heat, or cooling.
Scope 3 emissions: Includes all other indirect emissions that
occur in a company's value chain.
2020 reported Scope 1-3 figures
FY2019 (2018 figures) FY2020 (2019 figures)
SCOPE 1 SCOPE 2 SCOPE 3 SCOPE 1 SCOPE 2 SCOPE 3
---------------- ------------------ ------------------ ----------------- --------------------
Tharisa Energy indirect Overall, Tharisa Energy indirect Overall,
Minerals' emissions Tharisa Minerals' emissions Tharisa
direct emissions amounted Mine's emissions direct emissions amounted Mine's emissions
for FY 2018 to 156 200 amounted for FY2019 to 182 343 decreased
amounted tCO2e to 2 235 amounted tCO(2) e. by 1% to
to 84 000 100 tCO(2) to 82 829 Electricity 2 285 059
tCO2e e tCO(2) e. consumption tCO(2) e
Diesel increased in FY2019
purchased by 12% between compared
and consumed FY2018 and to FY2018.
directly FY2019. This is
by the mine This was due to the
decreased due to the increased
by 1% in increase purchasing
FY2019 when in electricity of mining
compared consumption equipment,
to FY2018 and an increase especially
in the grid large earth-moving
emission equipment
factor
---------------- ------------------ ------------------ ----------------- --------------------
The baseline information depicted shows that we are still in the
initial stages of decarbonisation. However, the number of
initiatives that are being developed will assist the Company to
reduce Scope 1 and 2 significantly in the coming years. This will
be carried out in conjunction with sustainability initiatives to
support the decarbonisation strategy.
Paphos, Cyprus
29 September 2021
JSE Sponsor
Investec Bank Limited
Connect with us on LinkedIn and Twitter to get further news and updates about our business.
Investor relations contacts:
Ilja Graulich (Head of Investor Relations and
Communications)
+27 11 996 3500
+27 83 604 0820
igraulich@tharisa.com
Financial PR contacts:
Bobby Morse / Augustine Chipungu / James Husband
+44 207 466 5000
tharisa@buchanan.uk.com
Broker contacts:
Peel Hunt LLP (UK Joint Broker)
Ross Allister / David McKeown / Alexander Allen
+44 207 7418 8900
BMO Capital Markets Limited (UK Joint Broker)
Thomas Rider / Pascal Lussier Duquette / Nick Macann
+44 207 236 1010
Berenberg (UK Joint Broker)
Matthew Armitt / Jennifer Wyllie / Varun Talwar / Detlir
Elezi
+44 203 207 7800
Nedbank Limited (acting through its Corporate and Investment
Banking division) (RSA Broker)
Carlyle Whittaker
+27 11 294 0061
About Tharisa
Tharisa is an integrated resource group incorporating mining,
processing, exploration and the beneficiation, marketing, sales and
logistics of PGMs and chrome concentrates. Its principal asset is
the Tharisa Mine located in the South-Western Limb of the Bushveld
complex, South Africa. The mechanised mine has a 14-year open pit
life and the ability to extend operations underground by at least
an additional 40 years. Tharisa also owns the Salene Chrome
project, a development stage, low cost, open pit asset, located
adjacent to the Great Dyke in Zimbabwe. Tharisa is listed on the
Johannesburg Stock Exchange (JSE: THA) and the Main Board of the
London Stock Exchange (LSE: THS)
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END
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