Volt Formally Adopts ESG Framework
Graphite producer and battery anode material developer Volt Resources Limited (ASX: VRC) (“Volt” or “the Company”) is pleased to announce the formal adoption of an Environmental, Social and Governance (ESG) framework.
Volt develops and operates mines and plants that process minerals required for the manufacture of lithium-ion and other battery technologies. While our business exists to contribute to a low-carbon economy, our activities in pursuit of this goal have the potential to impact in either a positive or negative way. This places a responsibility on the Company to ensure that our activities are managed in line with best practices across all aspects of ESG.
Volt’s Managing Director, Trevor Matthews, said: “Volt aspires to become a leader in the battery minerals industry to support the transition to a carbon-free economy, while growing shareholder value through the sustainable development and operation of our assets.
Key to realising this is defining our environmental, social and governance (ESG) strategy within the framework industry-agreed principles, and staying true to the values in our Company DNA of “Grow Together”, “Do the right thing” and “Heshima Daima” (a Swahili saying that translates to “always respect”).
“As we embark on our journey to embed our new ESG policy into every corporate, development and operational aspect of our business throughout their lifecycles, we do so believing that this approach will maximise the benefits our organisation delivers to all stakeholders for the long-term.”
Volt has long supported positive ESG principles as testified by our vision statement, the ESIA for Bunyu’s feasibility, and our conduct at Zavalievsky Graphite as an active graphite operation. In developing Volt’s ESG Policy, with the assistance of UK-based consultancy, Uvuna Sustainability, the Board identified the World Economic Forum’s (WEF) articulation of stakeholder capitalism to be most in line with our ESG principles and ambitions.
We believe that the pursuit of long-term value creation in a manner that accounts for the needs of society at large, and all of Volt’s stakeholders, is fundamental to ensuring that we can achieve our aspirations. WEF’s stakeholder capitalism metrics are organised under four pillars that are aligned with the United Nations Sustainable Development Goals (as per Figure 1).
Figure 1: Volt's four-pillared ESG model is underpinned by the Economic enabler (ESG/E).
Importantly, in addition to environmental, social and governance considerations, the WEF framework above includes an ‘Economic’ pillar which recognises the role of businesses in driving economic growth, innovation, and shared wealth to establish and maintain prosperous societies.
Our newly adopted ESG Policy applies to our corporate offices, projects, and existing and new operating sites throughout their lifecycles. We expect our business partners to adhere to our Policy and will work with them to achieve compliance. In this inaugural ESG Policy, we have prioritised implementation to the components of our business that are actively progressing with their development / operation. Their scope of ESG management at this time is limited to within site boundaries, while recognising that these may have impacts beyond our boundaries.
We have evaluated ESG values that are pertinent to our business at this time, which are laid out in detail in the Volt ESG Policy attached, and on our website www.voltresources.com . We will review and expand the scope as our ESG journey matures.
-ENDS-
Authorised for release by the board of Volt Resources Ltd
For further information please contact:
Trevor Matthews
Managing Director
Tel: +61 8 9486 7788
Alex Cowie
Investor Relations
NWR Communications
Tel: + 61 412 952 610
Follow us on Twitter @ASXVolt
About Volt Resources Limited
Volt Resources Limited (“Volt”) is a graphite producer/developer and gold exploration company listed on the Australian Stock Exchange under the ASX code VRC. Volt has a 70% controlling interest in the Zavalievsky Graphite business in Ukraine. Zavalievsky is in close proximity to key markets with significant developments in LIB facilities planned to service the European based car makers and renewable energy sector. Zavalievsky benefits from an existing customer base and graphite product supply chains based on excellent transport infrastructure covering road, rail, river and sea freight combined with reliable grid power, ample potable ground water supply and good communications[1].
Volt is also progressing the development of its large wholly-owned Bunyu Graphite Project in Tanzania, as well as gold exploration in Guinea leveraging the Company’s existing extensive networks in Africa.
The Bunyu Graphite Project is ideally located near to critical infrastructure with sealed roads running through the project area and ready access to the deep-water port of Mtwara 140km from the Project. In 2018, Volt reported the completion of the Feasibility Study (“FS”) into the Stage 1 development of the Bunyu Graphite Project. The Stage 1 development is based on a mining and processing plant annual throughput rate of 400,000 tonnes of ore to produce on average 23,700tpa of graphite products[2]. A key objective of the Stage 1 development is to establish infrastructure and market position in support of the development of the significantly larger Stage 2 expansion project at Bunyu.
The Guinea Gold Projects comprise 6 permits in Guinea, West Africa having a total area of 348km. The Projects are located in the prolific Siguiri Basin which forms part of the richly mineralised West African Birimian Gold Belt.
[1] Refer to Volt’s ASX announcements titled “Volt to Acquire European Graphite Business following Completion of Due Diligence” dated 14 May 2021 and “Completion of the ZG Group Transaction Following Execution of New Convertible Securities Facility” dated 26 July 2021.
[2] Refer to Volt’s ASX announcement titled “Positive Stage 1 Feasibility Study Bunyu Graphite Project” dated 31 July 2018. The
