ESG - FOXI Resources Pty Ltd

FOXI Resources & the Environment

In addition to economic sustainability, FOXI Resources is driven to lead the industry towards more environmentally sustainable practices. Pioneering carbon neutral mining is at the forefront of FOXI Resources’ strategy as we develop our portfolio of mines. In an effort to exceed established jurisdictional carbon control measures, FOXI Resources uses emerging technologies and innovations to reduce its projects’ carbon emissions in an economically feasible way.

With all projects FOXI Resources will commit to limiting environmental impact as much as possible. If it is not possible to operate a project without disturbing existing ecosystems the company will always seek to exceed carbon offset requirements. For example, where replanting trees is required to offset a project’s environmental impact, FOXI Resources will pledge to replant trees at a ratio of 3 to 1 or 4 to 1.

FOXI Resources will also work with local stakeholders to rehabilitate vegetation and soils in the vicinity of the operation to offset the impacts of mining activities. Additionally, the company will provide local land authorities such as landowners and national parks representatives with the operation’s machinery and labour to assist in land rehabilitation efforts.

Another way FOXI Resources will strive towards carbon neutrality is by working with the manufacturers of the equipment used in its operations to allow live testing of new and in-development technologies with low or zero emission power systems. This way, FOXI Resources can be on the front lines of zero emissions innovations within the mining and natural resources sector.

Mining

Operational Emission Management

FOXI Resources has several strategies in place to significantly decrease carbon emissions and to work towards achieving net zero emissions. These strategies include:

Using sustainability technologies and efficiency software;

Monitoring and controlling all areas of production maximise productivity;

Purchasing smaller equipment fleets that maximise production while lowering fuel consumption and other consumables;

Reducing waste oils

Lowering dust emissions; and

Reducing noise.

By using smaller equipment fleets, FOXI Resource’s operations will require less infrastructure, resulting in a reduced carbon footprint.

Environmental

Climate change / greenhouse gas emission

FOXI Resources is dedicated to safeguarding the environment, biodiversity, and ecosystems and believe that such practices are vital to the development of sustainable and responsible mining. FOXI Resources will work towards reducing its environmental impacts associated with the extraction and processing of metals and minerals through strategic frameworks and identification at each stage of planning, design and implementation of each project. We aim to further reduce our impacts and emissions by:

Using renewable energy sources such as solar and wind power to lower each project’s electricity costs and reduce volatility of production costs;

Introducing “climate intelligence”* to decision-making processes, such as equipment selection and allocation;

Undertaking proactive measures that reduce carbon emissions and increase innovation such as reporting emissions and partnering with renewable projects;

Using mining technologies that will reduce carbon emissions in operations and mitigate environmental impacts; and

Implementing sustainable water use and non-hazardous waste management practices.

*Climate intelligence describes the process of utilising historical, current, and predicative data about the environment and an our activities’ known climate impacts to develop strategies for mitigating climate impact and adapting our operations in the face of climate change.

Social

Community health and safety

FOXI Resources takes a proactive approach to ensuring responsible operations to prevent environmental harm, respect human rights and cultures, mitigate risks and plan to create positive social impacts. To this end, FOXI Resources works towards enhancing the communities and environments we operate in by developing people, infrastructure and connectivity through the following:

Community development and investment programs;

Supporting local businesses by establishing procurement policies that prioritise local suppliers;

Infrastructure improvements, such as the building of access roads and other community infrastructure;

Community health initiatives that include offering health services to employees and their families and the wider community;

Sustainable livelihood projects that reduce community economic dependence on the mine/project and develop alternative and sustainable employment opportunities for stakeholder communities; and

Micro-credit finance schemes such as loans that can be used to launch new enterprises, create jobs, and help communities associated with the mining projects become self-sustaining.

Not only does FOXI Resources seek to maximise profits and return on investments, we are dedicated to maximising our positive impact on the mining industry, the environment, and the communities where we operate.

Environmental and Social Governance