Miranda Minerals Holdings Limited
   
Company
 
Sustainability
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Sustainable Development

 
 
Miranda Mineral Holdings Ltd (“Miranda”) is a South African based mineral exploration investment and holding Company, and its subsidiaries are involved in the business of mineral exploration and production..

Miranda acts with due regard to the spirit of the Mining Charter that sets out requirements for achievement of transformation and social objectives between mining companies and the communities in which they operate..

STRATEGIC, FINANCIAL AND BUSINESS RISK
Miranda acts with due regard to the spirit of the Mining Charter that sets out requirements for achievement of transformation and social objectives between mining companies and the communities in which they operate.


BOARD & MANAGEMENT RESPONSIBILITIES

Miranda’s Board of Directors is committed to ensure that the Group effectively and efficiently manage principal risks.

The Audit and Risk Committee is tasked with ensuring that the Group maintains effective, efficient and transparent systems of operational, financial and risk management.

Miranda’s operations and business are affected by a number of risks and uncertainties similar to those typical in the industry it operates. A critical component of the Group’s risk management is to ensure that the Group’s strategy is aligned with the expectations of management, the Board and its shareholders.

Management is tasked to assist the Audit and Risk Committee to closely monitor the development, implementation and maintenance of the Group’s strategy to facilitate the extraction of maximum shareholder value from its assets. The Board also evaluates and considers strategic partnerships on a continuous basis that could enhance shareholder value.

The Board, assisted by the Audit and Risk Committee, continuously assesses risk to ensure that proper systems of internal control are developed, implemented and maintained to identify and manage risk within the organisation.


OPERATIONS

The potential risks and opportunities related to sustainability arise from the availability of sufficient competence resources, the health and safety of our personnel, our ability to develop the Company’s portfolio according to the changing needs of the market, and the adequacy and pricing of financing.

The Group’s operating risk will increase as its business develops and assets are brought to account. An increase in exploration and production expenses as well as capital expenditure will increase risks associated with advancing exploration, development and commercial production of its assets.

As it may not always be possible to accurately estimate the inputs required in determining operational sustainability, there is always a risk that forecasts can be negatively impacted by factors beyond the control of the Board.

FINANCIAL MARKETS

Miranda’s economic responsibility is to benefit all our shareholders through profitable business operations. Securing the continuity of our operations requires that we have sufficient funding available under all circumstances. Various economic uncertainties globally could potentially have a negative impact on funding from capital markets.

Miranda aims to further develop its sustainability risk management by including all relevant aspects of sustainability management and adding the recognized issues into the Risk Assessment and Risk Management Evaluation process.

Management prepares financial forecasts to determine the Group’s ability to be a sustainable business operation. These forecasts include judgements and assumptions which include but are not limited to the prices of commodities, capital expenditure, production costs, environmental rehabilitation liabilities and other project related costs. A negative impact on any, or all, of these factors could cause a project to become uneconomical and could negatively impact on the value of the Group.

HEALTH & SAFETY

Miranda continuously focusses on identifying and preventing health and safety risks. The Company thoroughly investigates all incidents and initiates the necessary actions to prevent them in the future. The initiation of safety and security guidelines will improve the well-being of our employees.

ENVIRONMENTAL ISSUES

Exploration and mining activities within South Africa are governed by a number of statutory requirements. These requirements apply to exploration activities through the use of environmental impact assessments to ascertain and address the potential negative impacts of mining and extending through to the issuing of water use permits on mining sites.

Miranda, as a responsible corporate citizen of South Africa, is committed to operating within these legislative requirements and working in a manner that will ensure the sustainability of the environment on which local communities depend for their livelihoods.

SOCIAL INVOLVEMENT

Involvement with the Communities surrounding Miranda sites is based on the belief that social interventions and programmes must be sustainable and capable of sustaining themselves long after mining operations have ceased. Although ‘once-off’ donations in support of specific causes have their place in a social programme, they generally benefit smaller, identifiable groups and are not to be considered as the centrepiece of the Miranda corporate social investment programme.

The Miranda approach to sustainable corporate involvement with the Communities is based on a multi-layered programme, namely through the creation of employment opportunities, interaction with communities regarding social and labour plans developed to assist with social upliftment and Assisting younger members of the community.

Acting within the transformation requirements of the Mining Charter, Miranda has ensured that the communities will be able to participate in the prosperity arising from the production of the mine.

 
 
 
   
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