2023
Sustainability Report
ACKNOWLEDGMENT OF COUNTRY
MINERAL RESOURCES LIMITED (MINRES) IS COMMITTED TO RECONCILIATION AND RECOGNISES AND RESPECTS THE SIGNIFICANCE OF ABORIGINAL AND TORRES STRAIT ISLANDER PEOPLES’ COMMUNITIES, CULTURES, AND HISTORIES.
MinRes acknowledges Aboriginal and Torres Strait Islander Peoples as the first and continuing custodians of the land and waters, and in doing so pays respect to Elders past and present. We extend this acknowledgment and respect to Indigenous Peoples and communities globally.
Where used herein “Indigenous Peoples” and “Indigenous Australians” refers to Aboriginal and Torres Strait Islander Peoples. Indigenous Australian readers are advised that this report may contain images and names of individuals who are deceased.
Building a Legacy
MinRes has never been afraid to lead the way. For three decades, we’ve stayed true to our heritage by thinking differently, remaining agile and embracing a passion for innovation to seize new opportunities.
Today, MinRes is one of Australia’s leading pit-to-ship mining services providers with an expanding portfolio of world-class iron ore and lithium projects and an energy business focused on pursuing cleaner, cost-effective power for our operations.
We know our success comes with an obligation to operate responsibly and ethically. We are committed to continually improving our sustainability performance and demonstrating leadership in balancing the interests of our environment, communities, people and stakeholders.
This Sustainability Report celebrates the impact of leadership – from the stewards of the world’s oldest continuing culture to our people, who guide and support MinRes’ ambitious growth strategy every day. Together, we’re building a legacy.
Images of Elders in this report feature in the 2023 Russell James exhibition The Elders: Legacy of Leadership – a collection of portraiture exploring Elders’ history of leadership and innate connection to Country.
This report is part of our Annual Reporting Suite, accessible via our website.
Chair and Sustainability Chair Review
James McClements | Independent Non-Executive Chair
Susie Corlett | Sustainability Chair
As a leading mining services company, we recognise the importance of sustainable mining practices throughout our business activities. We understand the challenges facing our industry and continue to strive to improve as a responsible business. Our FY23 sustainability reporting suite demonstrates our commitment to continually improving our performance while serving as a reflection of our journey.
In FY23, the MinRes Board grew and diversified with the appointments of Emeritus Professor Colleen Hayward AM and Justin Langer AM as Independent Non- Executive Directors. Both bring a diverse set of new skills, experience and perspectives to our Company. In line with improving our transparency, this year we also present our first annual Tax Transparency Report as part of this reporting suite.
We remain committed to improving the wellbeing of our MinRes family, with zero tolerance for any behaviours that jeopardise employee safety. Our continued growth now sees MinRes supported by over 5,600 people and heightens our focus and shared responsibility to look after each other.
To achieve our strategic objectives, MinRes employees must feel valued, supported, and empowered. We focus on supportive leadership and proactive education, with a health and wellbeing system defined by three pillars: prevent harm, mitigate illness and promote thriving.
We continue to prioritise a safe and effective reporting culture through workforce education and accessibility to both internal and external reporting channels. We actively encourage the reporting of all incidents while ensuring those who raise issues are supported and treated with fairness and respect. In FY23, we recorded an increase in reports following our Safe and Respectful Behaviours training and awareness campaign, as well as our Psychosocial Hazards Awareness training.
MinRes has achieved several milestones in our efforts to attract and retain a diverse workforce, driven by more inclusive recruitment practices, strengthened parental leave and improved leadership diversity. We confirmed no gender pay gaps for comparable positions and are committed to conducting formal gender pay reviews annually, ensuring salaries remain equitable. We increased our Indigenous Australian workforce to 3.5 per cent – offering over 160 roles to Indigenous Australian candidates, an increase of 93 per cent from FY22. Indigenous employee retention will be a focus in FY24, set to be supported by site-based Indigenous engagement professionals.
In line with the changing regulatory environment and importance of responsible mining practices, MinRes remains focused on reducing our carbon footprint and achieving our target of net zero emissions by 2050. We acknowledge the inherent challenges facing our industry and are committed to tracking and reporting our progress against our Roadmap to Net Zero Emissions. Our expansion and construction activities saw an increase in our scope 1 emissions by 11 per cent.
Our Environment team continues to expand with specialists in key areas to meet project requirements and strengthen in-house capability. Our achievements during the financial year include zero high-impact environmental incidents, developing a business wide Biodiversity Strategy and completing water efficiency audits at our lithium and iron ore operations.
In FY23, we increased our community contributions by nearly 30 per cent, with a total of $7.5 million delivered through our social investment program to support more than 120 organisations.
We respect the importance of operating responsibly and in the best interests of the environment, our people, local communities and stakeholders. This year we continued to make pleasing progress against our sustainability targets by implementing impactful Company initiatives. As we look to the future, we will continue to proactively identify sustainability opportunities and risks while progressing our long-term growth and strategic goals. We will support this trajectory by finalising the Corrective Action Plan from our responsible mining audit at our Mt Marion lithium operation and achieving Initiative for Responsible Mining Assurance (IRMA) verification at our Wodgina lithium operation to cement our position as a responsible Company.
We remain thankful to Chris Ellison, his leadership team and the efforts of thousands of employees and contractors while we navigate another transformational year for our business. Their adaptability, resilience and passion supports MinRes’ continued growth as an Australian success story.
MinRes is a leading diversified resources company, with extensive operations in Mining Services, Lithium, Iron ore and Energy across Western Australia.
WITH A FOCUS ON PEOPLE AND INNOVATION, MINRES HAS BECOME ONE OF THE ASX'S BEST-PERFORMING COMPANIES SINCE LISTING IN 2006.
MinRes is a leading diversified resources company, with extensive operations in Mining Services, Lithium, Iron ore and Energy across Western Australia.
WITH A FOCUS ON PEOPLE AND INNOVATION, MINRES HAS BECOME ONE OF THE ASX'S BEST-PERFORMING COMPANIES SINCE LISTING IN 2006.
Our Sustainability Approach
We strive to generate shareholder value and maintain our social licence to operate by supporting the wellbeing of our people, protecting the environment and making a positive contribution to the communities in which we operate.
OUR VOLUNTARY SUSTAINABILITY INITIATIVES
MinRes is guided by several voluntary sustainability initiatives, memberships, standards and goals. Each year we continue to assess alignment with other emerging frameworks.
OUR COMMITMENTS
OUR ESG PERFORMANCE
We engage with top-tier organisations who assess our Environment, Social and Governance (ESG) performance, such as FTSE Russell, MSCI, Sustainalytics and ISS, based on publicly available information. MinRes' assessment with all ESG ratings demonstrated consistent improvement or maintenance throughout the year. MinRes achieved recognition for our sustainability commitments, leadership and performance from ISS and Sustainalytics.
OUR AWARDS AND RECOGNITION
Australasian Gold Sustainability Reporting Award
MinRes is proud to have been recognised for overall excellence in sustainability reporting by Australasian Reporting Awards (ARA). In 2023, ARA awarded our 2022 Sustainability Report a Gold Sustainability Reporting Award, identifying the report as providing a full disclosure of material sustainability topics, covering all pertinent legislative and regulatory requirements and as a model report for other organisations to follow.
Skilled Workplace Award
Our commitment to developing mental health first aid skills in our people and embedding an effective mental health program was recognised in September 2022 with an award from Mental Health First Aid Australia, with MinRes acknowledged as a Skilled Workplace. More than 260 MinRes employees have completed a two-day Mental Health First Aid training course delivered by Lifeline WA qualified trainers.
Operational Excellence Award
MinRes' CSI Mining Services team won the Operational Excellence Award at Rio Tinto’s Supplier Recognition Awards gala in 2023. The Operational Excellence award highlights businesses that go above and beyond to tackle obstacles, deliver safely, enhance productivity, and demonstrate industry leading performance. The team was recognised for safe, reliable and consistent delivery of key production tonnes for Rio Tinto’s Brockman and Tom Price iron ore mines. During 2022, CSI provided over 55 million tonnes of mining, crushing, stemming and road train haulage to Rio Tinto, while maintaining an outstanding safety record including ending the year with a Total Recordable Injury Frequency Rate of 0.
GOVERNANCE
"for me, integrity is important. It means you value treating everyone fairly and honestly at all times. be trustworthy."
Mike Grey | Chief Executive Mining Services
CORPORATE GOVERNANCE FRAMEWORK
OUR BOARD
THE SUSTAINABILITY COMMITTEE
This Committee assists the Board in fulfilling its responsibilities overseeing the Company’s material sustainability related matters including, but not limited to:
- occupational health, wellbeing and safety
- labour practices and human rights, including modern slavery
- community development and engagement, including;
- engagement with Indigenous Australians, reconciliation
- initiatives and relationships with the communities in which we operate
- protection of cultural heritage
- responsible supply chain management
- environmental stewardship including the management of water resources, biodiversity, waste, air quality, land reclamation and closure and tailings facility management
- climate change.
EXECUTIVE LEADERSHIP TEAM
SOCIAL
"Great leadership characteristics need to work together in harmony, including humility, determination, and emotional intelligence."
Andrea Chapman | Executive General Manager People
Case Study: MinRes Health Centre
Putting the health and wellbeing of our people at the centre of everything we do.
In October 2022, we opened the MinRes Health Centre to deliver free and holistic health care for our employees. The state-of-the-art facilities located at our headquarters reflects our commitment to becoming a leader in workplace wellbeing, supporting them in all their health needs. The first of its kind in the mining and resources industry, the Health Centre focuses on:
- standardisation of pre-employment medicals completed by a team of in-house health experts
- early detection and mitigation of potential occupational diseases such as silicosis or noise-induced hearing loss
- providing free and accessible GP services for all staff
- rapid response for emergencies and treatment whilst at work.
The Health Centre also provides medical services as well as occupational health services, which has seen an overwhelming uptake of activity including:
- 1,166 pre-employment medicals
- 225 drug and alcohol screenings
- 332 skin cancer checks
- 454 flu vaccinations
- 355 COVID-19 vaccinations
- 588 ergonomic assessments
- 132 dietician consults.
Case Study: ON-COUNTRY MEETING OF THE KARIYARRA ABORIGINAL CORPORATION AND MINRES BOARDS
MinRes’ land management, cultural heritage, and agreement governance sustains strong Indigenous stakeholder relationships.
Meaningful and culturally appropriate stakeholder engagement embeds Indigenous perspective and feedback into business process.
In November 2022, members of the MinRes Board travelled to our Wodgina lithium operation where they met with the Board of the Kariyarra Aboriginal Corporation. The Kariyarra People are the Traditional Owners of the land where Wodgina is situated. The meeting provided a valuable opportunity for members of both Boards to establish meaningful connections with one another.
The meeting included a Welcome to Country, with a traditional dance performance, and a tour of the Wodgina site.
The MinRes Board travelling to Kariyarra Country is understood to be the first time the Board of an ASX-listed company has travelled to meet with the Kariyarra Board on Country.
ENVIRONMENT
"Being a custodian for future generations means shifting your mindset to a very different way of thinkining. Encouraging others to approach decision-making with a much longer-term view."
Trevor Parker | Banjima Elder | Peedamulla Station, Pilbara region, WA
Case Study: Wonmunna Solar Array
2.1 megawatt (MW) solar-battery system at our Wonmunna iron ore project in the Pilbara region of Western Australia.
Located 80 kilometres north-west of Newman, the Wonmunna mine was purchased as an undeveloped project in FY21 and first ore was achieved just five months after construction began at the site. During FY22, production from Wonmunna ramped up to 5 million tonnes per annum.
Installation of the 5B Maverick solar technology at the Wonmunna site, containing more than 4,000 solar panels, was completed during FY23. Following successful testing and optimisation works, the technology is now providing significant benefits for site operations and helping MinRes reduce its dependency on diesel fuel.
The combined solar-battery system will produce more than 30% of the mine’s power requirements and ultimately reduce diesel consumption by approximately 760,000 litres each year as well as reduce carbon emissions on site by around 2,000 tonnes of carbon dioxide equivalent each year. In addition, the crusher at the site is powered 100% by the system during the middle of the day when renewable output meets peak plant load.
Case Study: Machine Learning in Rehabilitation Monitoring
To ensure our monitoring data reflects the functioning and performance of an entire landform, during FY23 MinRes continued engagement with Dendra Systems to complete a portfolio-wide survey twice a year in spring and autumn (approx. 14,000 hectares a year). Data is currently being obtained for a baseline monitoring assessment on a landform scale to establish scientifically valid monitoring categories to inform MinRes’ completion criteria over an entire landform. Remote sensing data will form the basis for tracking MinRes’ environmental management and rehabilitation performance against completion criteria over the life of a landform and will be used to identify high risk areas early in the landform evolution when remedial actions can be completed early.
Using technology throughout the mine life cycle allows for effective tracking of rehabilitation success, from seeding to relinquishment.
Fauna monitoring
MinRes has trialled Malleefowl monitoring using remote sensing. Previously, surveys would require a ground team to walk survey areas, which takes considerable time and could lead to areas being missed. The technology allows MinRes to survey a large area with a high degree of accuracy and efficiency, identifying active Malleefowl populations. This technology also negates the need for labour intensive traditional surveys, improving employee safety in the field.
Vegetation monitoring
Using this technology, MinRes will continue to optimise its rehabilitation decisions and outcomes by consolidating, monitoring progress and enabling transparent reporting across all stakeholders. Vegetation cover (%) alone is not an accurate measure of rehabilitation success. Species diversity is vital for a functional ecosystem and is further justification for MinRes’ approach to monitoring as a whole landform. While remote sensing aims to replace the requirement for field-based surveys, there remains the need for validation. MinRes identified 24,411 individual native plants across a 36-hectare landform while also visually displaying where certain native plants grow compared to others. Previously used traditional methods were only gathered from three transects across the whole landform; this new approach looks to a whole of landform approach.
"Honesty sets the foundation for trust, respect and strong relationships with stakeholders."
Jenna Mazza | General Manager Corporate Legal
All references to ‘Mineral Resources’, ‘MinRes’, ‘the Company’, ‘the Group’, ‘we’, ‘us’ and ‘our’ refer to Mineral Resources Limited (ABN 33 118 549 910) and the entities it controlled, unless otherwise stated.
References in this report to a ‘year’ are to the financial year ended 30 June 2023 unless otherwise stated. All dollar figures are expressed in Australian dollars (AUD) unless otherwise stated. Where used throughout “Indigenous Peoples” and “Indigenous Australians” refers to Aboriginal and Torres Strait Islander Peoples.
Photography by Russell James OAM. Creative direction by Ali Franco.
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