African iron ore specialist Genmin (ASX:GEN) has achieved environmental, social, and governance (ESG) certification by Digbee ESG for the Baniaka Iron Ore Project in Gabon.
The company reports Digbee certification is awarded to mining companies that have satisfactorily disclosed their ESG activities at the corporate and project levels to an independent and impartial assessment by ESG specialists, demonstrating a ‘serious’ commitment and internal culture geared towards ESG.
Genmin undertook and submitted its first Digbee disclosure in March 2023 and was awarded an overall ‘BB’ score for the company and the Baniaka Project.
The assessment comprised the completion of a set of ‘comprehensive’ corporate and project questionnaires, mapped to global standards and assessed by relevant ESG specialists. These questionnaires required the provision of relevant data, narrative, and supporting evidence, and were board-approved prior to submission.
In addition to becoming ESG certified, Genmin reports its trademark application for its Baniaka Green brand has been registered. This trademark will be the identifier for all of Genmin’s iron ore products sourced from Baniaka.
Commenting on the ESG certification, Genmin Chief Executive Officer (CEO) Joe Ariti says: “I am delighted that Genmin has achieved ESG certification and an overall inaugural score of BB through the independent and rigorous Digbee process.
The commitment to independent assessment and transparent reporting of ESG performance has become increasingly important today as investors and customers look for sustainable, responsible, and good governance business attributes in companies. Genmin is now well-positioned to be assessed against these criteria.
“The trademark registration of Baniaka Green is an excellent outcome that enables us to build a market brand conveying the greener nature of our iron ore products”
The trademark registration of Baniaka Green is an excellent outcome that enables us to build a market brand conveying the greener nature of our iron ore products, providing a mark of distinction, and making it easier for our customers and the iron ore market generally to identify with our products.”
Also commenting, Digbee founder and CEO Jamie Strauss says Genmin has demonstrated a clear integration of ESG through its business.
“It not only has clear policies, procedures, and relevant committees of the board in place, the company recognises the shift in mindset of stakeholders, shareholders, governments, and financiers around the world to implement, measure, and report ESG within their businesses.
The Baniaka Project benefits from existing nearby infrastructure and intends to hire a substantial local workforce. At Digbee, we look forward to seeing this important project for Gabon and the local community develop further, with best practices at the heart of its development.”
Genmin is an ASX-listed emerging African iron ore producer with a pipeline of projects in the Republic Gabon in west Central Africa. These projects include the Baniaka, Bakoumba, and Bitam projects.
Baniaka is Genmin’s flagship project, and the nearby Bakoumba projects provide an emerging iron ore hub near the Haut-Ogooué provincial capital of Franceville. Additionally, Baniaka covers 2,445km-square within the region and hosts 121km of interpreted iron-mineralised strike, with only 16% of the mineralisation tested with diamond drilling.
Write to Harry Mulholland at Mining.com.au
Images: Genmin Ltd
