Technology Metals Australia pushes ahead with ESG strategy for Murchison Project, WA

Technology Metals Australia (ASX:TMT) is progressing with the development of its environmental, social, and governance (ESG) strategy and action plans for the Murchison Technology Metals Project (MTMP) in Western Australia. 

The $71.20 million market capitalisation company says it is developing the project with a ‘firm foundation’ based on a sustainable approach to the environment, community, and corporate responsibility.

Technology Metals has conducted gap analysis against the International Finance Corporation’s (IFC) Performance Standards on Environmental and Social Sustainability, alongside the Equator Principles (EP4). 

Further, the company is also assessing its ESG frameworks that will provide the basis for its maiden sustainability report. 

Ahead of Technology Metals Australia Managing Director Ian Prentice’s presentation at the Noosa Mining Investor Conference on Friday 21 July 2023 at 11:00am, Prentice says: “The TMT team has made significant headway in the activities required to progress the efficient and effective development of the long-life MTMP, with constructive engagement with key stakeholders and progression of the MTMP front-end engineering and design (FEED) activities. 

Our development strategy is in clear alignment with the Federal Government’s recently released Critical Minerals Strategy”

Our development strategy is in clear alignment with the Federal Government’s recently released Critical Minerals Strategy, where onshore critical minerals processing, informed consultation, and engagement with Traditional Owners and exemplary ESG practices will enable Australia’s energy transition.”

The key focus for the company advancing FEED activities for the MTMP is to enhance efficiencies for the development, aligned with the ongoing activities of permitting and approvals, as well as project financing. 

During the June quarter, Technology Metals raised $11.5 million, through the placement of about 41.1 million new fully paid ordinary shares at $0.28 per share. 

The funds raised are being applied to advance the development of the MTMP towards construction readiness, with a range of early work activities to be completed by the company’s project team. 

Technology Metals Australia is an ASX-listed exploration company focused on the exploration and development of its flagship wholly owned MTMP, which is located 50km southeast of Meekatharra in the mid-west of Western Australia. 

On 30 June 2023, the company had $16.5 million cash at hand, according to its latest quarterly report.

Write to Aaliyah Rogan at Mining.com.au

Images: Technology Metals Australia Ltd
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.