2022
Sustainability Report02022 Sustainability Report | JERVOIS GLOBAL

About this Report
Jervois Global Limited (“Jervois”, “the Company” or “theGroup”) recognises that our financial, environmental, socialand governance (“ESG”) performance are intrinsicallylinked. As our company evolves and grows, we havecommitted to continuous improvement, including throughthe progressive integration of material ESG matters within
our business and its governance, and transparency
concerning our performance and progress.
In this, our second Sustainability Report, Jervois references
key aspects of the Global Reporting Initiative (“GRI”)
standards. In February 2023, GRI launched a draft standard
specifically for mining companies that spans 25 ESG topics,
including those specific to tailings management, hazardous
waste streams and operating in high-risk areas. As thisstandard is finalised throughout the year, Jervois aims toreport in accordance with the new GRI Standard for Mining
in our 2023 Sustainability Report. Similarly, Jervois hasreferenced the Sustainability Accounting Standards Board(“SASB”) Metals and Mining Standard (December 2021) andthe Task Force on Climate-related Financial Disclosures(“TCFD”).
This report has been prepared with guidance and review
from the ESG and Compliance Committee, in collaboration
with subject matter experts from within our operations. It
has also been reviewed by our Executive and Senior
Management team and reviewed and approved by the
Board of Directors.
This report should be read in conjunction with the
Cautionary Statement in Annex 4.
Scope and Boundary
The report focuses on core assets where Jervois’ holds 100%
ownership and management control as of December 31,
2022, namely Jervois Finland Oy (“JFO”) in Finland, Idaho
Cobalt Operations (“ICO”) in the United States and São
Miguel Paulista (“SMP”) in Brazil.
In September 2021, Jervois completed its acquisition of
Jervois Finland Oy (previously Freeport Cobalt). Despite thebusiness not being under Jervois management for theentirety of 2021, we have included data for 2021 tocompare with 2022 data within this report and within the
GRI and SASB data indices in Annex 2 and 3.
In addition, in mid-2022, Jervois finalised its acquisition of
the São Miguel Paulista (“SMP”) nickel and cobalt refineryin São Paulo, Brazil. Feasibility studies were completed andthe project progressed to detailed engineering underJervois management. As such, only limited data has been
cited throughout this report.
Given that ICO was in the construction phase throughout
2022, various types of data were not available and/or weredeemed immaterial for certain ESG indicators.
Ancillary assets, including exploration properties inAustralia, corporate or commercial sales offices, werelargely excluded unless otherwise indicated due to limited
data availability on specific topics and/or their relative
immateriality.
Reporting Period
The report presents information from 1 January to 31
December, 2022.
Assurance
This Report has not been externally assured but has beendrafted through an internal consultation, review andvalidation process. Information concerning due diligence ofour mineral supply chains by JFO relies on the OECD Due
Diligence Guidance on Responsible Mineral Supply Chains
and is subjected to third party assurance in line with the
Responsible Minerals Initiative (RMI)’s Downstream
Assessment Program (DAP). In 2022, JFO’s Responsible
Mineral Supply Chain program was subjected to a third
party audit and certificate of conformance with the RMI
granted.

Feedback
We welcome feedback, queries or questions atcompliance@jervoisglobal.com.

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2022 Sustainability Report | JERVOIS GLOBAL

We have set important andtransformative environmental,social and governance (“ESG”) goals
for our company, including a 2035
net zero greenhouse gas emission
target and a Carbon Reduction
Roadmap for our Jervois Finland
operations. We have taken steps
towards achieving these goals and
we understand the pivotal role thatcobalt can play in a net zero future.
Peter Johnston,Non-Executive Chairman

12022 Sustainability Report | JERVOIS GLOBAL

Contents
Message from our Chairman ...................................................................................................................... 4
Sustainability Snapshot .............................................................................................................................. 5
Overview ................................................................................................................................................... 6
Jervois: A Global Supplier of Cobalt and Nickel .................................................................................................................. 8
Our Role in the Transition to a Low Carbon Economy ........................................................................................................ 9
Our Approach to Sustainability......................................................................................................................................... 10
Our Stakeholders .............................................................................................................................................................. 13
Our Priorities .................................................................................................................................................................... 15
Our 2022 Performance Highlights .................................................................................................................................... 16

Leadership & Governance ........................................................................................................................ 18
Our Approach ................................................................................................................................................................... 19
Our Performance .............................................................................................................................................................. 23
Responsible Supply Chains ............................................................................................................................................... 25
Human Rights ................................................................................................................................................................... 26
2023 Targets and Planned Actions ................................................................................................................................... 28

Occupational Health & Safety ................................................................................................................... 29
Our Approach ................................................................................................................................................................... 30
Our Performance .............................................................................................................................................................. 31
2023 Targets and Planned Actions ................................................................................................................................... 34

Environment ............................................................................................................................................ 35
Our Approach ................................................................................................................................................................... 36
Our Performance .............................................................................................................................................................. 37
Climate Change ................................................................................................................................................................. 38
The Circular Economy ....................................................................................................................................................... 41
Water Management ......................................................................................................................................................... 42
Waste Management ......................................................................................................................................................... 44
Air Quality ......................................................................................................................................................................... 46
Biodiversity & Conservation ............................................................................................................................................. 47
2023 Targets and Planned Actions ................................................................................................................................... 49

Social ....................................................................................................................................................... 50
Our Approach ................................................................................................................................................................... 51
Our Performance .............................................................................................................................................................. 53
Our Workforce .................................................................................................................................................................. 54
Our Host Communities ..................................................................................................................................................... 58
2023 Targets and Planned Actions ................................................................................................................................... 60

Annexes................................................................................................................................................... 61

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2022
2022Sustainability
SustainabilityReport
Report || JERVOISJERVOISGLOBALGLOBAL

Message from our Chairman
To our colleagues, shareholders, and stakeholders in Australia, United States,
Finland, Brazil and elsewhere, we are very pleased to present our 2022
Sustainability Report.
This report reflects on our progress in creating value and supporting communities
through responsible and sustainable operations throughout a year of ongoinggrowth and transformation for Jervois.
At Jervois, our approach to sustainability is grounded in the firm belief that ourbusiness success is clearly linked to our environmental, social and governance(“ESG”) performance. If our employees, suppliers, and the communities andnatural environment around our operations are healthy and thriving, we also aremuch better positioned to thrive and grow.
Investing in environmental stewardship and the creation of tangible benefits for our workforce and communities around ouroperations can provide a wide range of returns for our business, our stakeholders and society. From maintaining a strong social
licence to operate, to reducing our carbon footprint and supporting conservation, to sustaining a reputation for ethical, responsible
practices – there are a multitude of ways that investing in people and the planet leads to positive outcomes in our business.
Our approach not only yields clear benefits for all stakeholders, it makes us more resilient to a diversity of ESG risks and, above all, it
is simply the right thing to do.
With our ongoing growth in 2022, we continue to bear our responsibility to build a legacy that creates enduring value for our hostcountries, communities, workforce, partners and other stakeholders, well into the future. We are proud to have maintained andstrengthened the high standards of governance, deep respect for the environment and care for the welfare of our employees,
contractors and the communities in which we operate. This 2022 Sustainability Report demonstrates our commitment to the standards,
goals and aspirations we have set ourselves.
Among our goals, we maintained our record of zero fatalities across the business during 2022 and I am proud that we have improved
our injury rates by 25% compared to 2021.
I thank everyone across our business who worked through the year to further strengthen our approach to sustainability, reaffirming
our vision to create value for all our stakeholders, as we continue our successful journey to grow a world-class, sustainable supplier of
responsibly sourced cobalt and nickel metals, powders and chemicals.

Peter Johnson,
Non-Executive Chairman

12022 Sustainability Report | JERVOIS GLOBAL

Sustainability Snapshot
5

0.79

61%

35%

2035

Total recordable injury
rate (TRIR)

Local employment in ouroperations

Management andprofessional positions held
by women

Net zero target set at
Jervois Finland

10.1%

100%

3

5.7

Employee turnover rate

Cases of suspected
human rights risks
closed*Biodiversity andconservation projects
supported in 2022

Number of times water isrecycled at Jervois
Finland5

2022 Sustainability Report | JERVOIS GLOBAL

Our Vision, Mission, Values & Principles
VISIONMISSION

VALUES

Our Vision is a worldtransformed by the mass
adoption of electric vehicles.

Our Mission is to become theleading supplier of responsibly
sourced battery materials
and quality cobalt and nickel
products and to provide secure,ethical, and low carbon supply tocustomers.

Our Core Values provide thefoundation for how we operate,
collaborate, engage and unite in
our work.

ULTIMATELY, WE AIM TO MAKE A
POSITIVE, MEANINGFUL DIFFERENCE IN
THE LIVES OF OUR STAKEHOLDERS:OUR PEOPLE, OUR INVESTORS, OUR
PARTNERS AND OUR HOST
COMMUNITIES AND COUNTRIES.

JERVOIS’ VALUES AND PRINCIPLES SETTHE STANDARD FOR EVERY DECISION WE MAKE.

RESPONSIBILITY

INTEGRITYACCOUNTABILITY

We are responsible, asa company and as
individuals.

We earn and sustain thetrust and respect of our
stakeholders.

We strive to transparently
measure, share, deliver andown results.

OPERATIONALPRINCIPLESINDIVIDUAL
PRINCIPLESORGANISATIONALPRINCIPLESWork safely – all the time.

Honour our commitments.

Proactively identify
and manage risks andopportunities.

Operate within the letter andspirit of the law.

Be accountable for what wedo, what we achieve and how
we achieve it.

Follow socially andenvironmentally responsible
practices.
Create a diverse, inclusive andsupportive work environment.
Ensure excellence inenvironmental stewardship andpositive social and economic
outcomes.

Treat others and ourselves with
dignity and respect.
Inspire personal dedication andcommitment.
Care for our environment,
ourselves, our co-workers, ourfamilies, and host communities.

Create a high-performance
culture through personal andteam development.
Act decisively on
opportunities and adapt
quickly in the face ofadversity.
Encourage creativity andinnovation to achieve thebest outcomes.

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Overview

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Jervois: A Global Supplier of Cobalt and Nickel
Jervois aims to become a leading global supplier of responsibly
sourced cobalt and nickel materials to serve the battery,
chemicals and metal markets, and to provide a secure, reliablesupply to customers in the face of geopolitical and other risks.
Jervois seeks to achieve this through geographic, asset, sales,
product, and customer diversification; management andorganisational culture; and stakeholder consultation, while
meeting environmental, social, governance and ethicalexpectations for good industry practice, over and above
complying with applicable legal requirements.

Jervois has three key geographies in which we operate, with allsites 100% owned: we produce specialty cobalt powders andchemicals at the Kokkola advanced manufacturing plants in
Finland (“Jervois Finland” or “JFO”) that we purchased in
September 2021; after its acquisition in July 2019, we haveconstructed a cobalt, copper and gold mine at Idaho Cobalt
Operations (“ICO”), and our restart plans are advanced in Brazil
at the São Miguel Paulista (“SMP”) nickel-cobalt refinery (“SMPRefinery”), the only electrolytic nickel and cobalt refinery in allof Latin and South America, that we acquired in July 2022.

Specialty cobalt chemicals producer at
Jervois Finland

Cobalt, copper and gold exposure with ICO
being the only primary cobalt mine in the
United States

Nickel and cobalt refinery and direct
downstream customer exposure throughthe SMP Refinery in São Paulo, Brazil

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Our Role in the Transition to a Low Carbon Economy
Cobalt and nickel play a vital role in the electrification of transportation and the electronics needed for smart mobility:• Approximately 70% of the world's cobalt production is now used in batteries.
• Both cobalt and nickel are essential components in rechargeable lithium-ion batteries that power consumer
electronics, electric vehicles (“EVs") and store renewable energy.
• As the demand for EVs and renewable energy increases, so does the need for these critical minerals.
• Responsibly, ethically sourced and produced cobalt and nickel are vital to achievement of the goals of the Paris
Agreement and our transition to a low carbon economy.
Once all Jervois operations in Finland, Brazil and the United States are in full production, we will produce cobalt
equivalent to that needed to power ~ 2 million EVs per year*.

* Based of 5kg per EV battery.

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Our Approach to Sustainability
Our approach to sustainability is grounded in the firm belief
that our business success is clearly linked to our environmental,social and governance (“ESG”) performance. If our employees,
suppliers and the communities and natural environment
around our operations are healthy and thriving, we also aremuch better positioned to thrive and grow.

strong social licence to operate, to reducing our carbon
footprint and supporting conservation to sustaining a
reputation for ethical, responsible practices – there are a
multitude of ways that investing in people and the planet leads
to positive outcomes in our business.
Our approach not only yields clear benefits for all stakeholders,
it makes us more resilient to a diversity of ESG risks and opens
the door to a broad range of ESG opportunities. Above all, it issimply the right thing to do.

Investing in environmental stewardship and the creation of
tangible benefits for our workforce and communities aroundour operations can provide a wide range of returns for ourbusiness, our stakeholders and society. From maintaining a

Our approach to value creation

HUMAN

NATURAL

SOCIALFINANCIALMANUFACTUREDINTELLECTUAL

CAPITALCAPITALCAPITALCAPITALCAPITALCAPITALOUR PEOPLE

OUR ENVIRONMENTOUR COMMUNITIESOUR FUNDINGOUR OPERATIONSOUR INNOVATIONSEXPLORATIONDEVELOPMENTMININGREFININGADVANCED COBALT MATERIALSPRODUCTIONPROFITS

WASTE

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2022 Sustainability Report | JERVOIS GLOBALOur Sustainability Journey

Decarbonisation

Over the past year, our sustainability journey gained
momentum after reflection on lessons learned to date. Taking
stock of our approach to sustainability in 2020 and 2021 hasenabled deeper alignment of our ESG priorities with ourbusiness strategy and the expectations of society and our
stakeholders in a rapidly changing world.

Climate change is an urgent priority for the planet, society,global economy and our business. We recognise our role inproviding the materials essential to the transition to a low
carbon economy while acting concretely to reduce our carbon
footprint and mitigate climate risks. Among 2022 highlights,
the Board approved JFO’s Carbon Reduction Roadmap and2035 Net Zero Target for Scope 1 and 2 Emissions.

In 2020, our Annual Report marked an important step in
disclosing our sustainability goals and ESG targets,
commitments and actions to support their achievement. This
provided the basis for in-depth examination of our core values
and principles, the priorities of our business and our
stakeholders and strategies for continuous improvement.
In 2021, Jervois saw tremendous growth, and with it, an
expanded focus on embedding sustainability at all levels. As
construction progressed at ICO in the U.S. and our Bankable
Feasibility Study (“BFS”) advanced at SMP, our nickel-cobalt
refinery in Brazil, a growing emphasis was placed on
establishing the building blocks of responsible, ethicalpractices.
The acquisition of JFO in Finland in September 2021
significantly enhanced these efforts. JFO is a leading cobalt
chemical and powder producer with world-class ESG systems
and processes and a track record of excellence.
The addition of JFO to the Jervois family marked an
unprecedented opportunity. Our focus shifted on leveraging
our in-house expertise and experience to build an ESG
framework from the bottom-up while guided by firm
commitments to our core values and principles from the top. In
doing so, we sought to instill genuine ownership in our sharedsustainability vision and inspire action at all levels of ourorganisation.
As framed in the core commitments outlined in our
Sustainability Policy, our inaugural 2021 Sustainability Reportprovided a clear roadmap for action. In 2022, we continued tobuild on this foundation while expanding our focus on fourpriority areas:

Responsible, Ethical Supply Chains
Scrutiny of both mineral and non-mineral supply chains has
justifiably increased and with it, the expectation thatcompanies will take action to address the ways in which theirbusiness and supply chains can impact people and the planet.
In 2022, we formed a Responsible Supply Chain Working Groupand took initial steps to expand JFO’s robust, RMI-assured due
diligence program to our other operations while broadening its
scope to more effectively address human rights andenvironmental risks in both mineral and non-mineral supply
chains.
Diversity & Inclusion
The tone from the top on diversity and inclusion is strong.
Jervois firmly recognises the direct link between our efforts tofoster a diverse and inclusive workforce and our businesssuccess. In 2022, progress was advanced through a Diversity
and Inclusion Working Group at Executive Management levels
and a parallel committee comprised of senior management and
key leads in our all of our operations. From our recruitment andlocal content strategies to actions aimed to embed our code of
conduct in everyday practice, we are taking steps to become an
employer of choice for all.
Community Engagement
Fostering strong, positive relationships with communities,
governments, Indigenous Peoples and the environment as wellas creating meaningful benefits for our stakeholders continues
to be one of our highest priorities. In 2022, our Community
Benefits Agreement (“CBA”) at ICO was elaborated throughfocused engagement with local stakeholders. At JFO and SMP,
we are seeing concrete progress in the development of formal
strategies as we scale up our engagement.
In 2023, we look forward to raising the bar even higher as welearn and strive to continuously improve on all fronts.

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2022 Sustainability Report | JERVOIS GLOBAL

Our Commitment to Continuous Improvement
Jervois believes that fulfilling our role in meeting the needs ofthe present generation without compromising those of future
generations requires commitments to sustainability by all
employees, contractors, suppliers and partners in our value
chain and intentional actions to harmonise our business goals,
objectives and decisions with our sustainability aims.

We recognise that this is a process that requires defining andimplementing a clear strategy, evaluating our performanceand, most of all, learning from the experience to continuously
improve upon our performance.

Our Commitment to the Sustainable Development Goals
In 2015, all UN Member States adopted the 2030 Agenda for
Sustainable Development. At the heart of the agenda are the17 Sustainable Development Goals (“SDGs”), which clearly
define the pathway to “end extreme poverty, fight inequality
and injustice, and protect our planet”.
Fulfilling these ambitions will take an unprecedented effort by
all governments, private sector and society at large.

Jervois recognises that many SDGs are well aligned with ourbusiness strategy and core values and principles. As such, we
aim to better contribute to the SDGs through our approach tosustainability. We identified 10 SDGs where our actions havethe greatest impact.
In 2023, we intend to further integrate the SDGs in our target
setting and strategies to increase our contributions further.

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2022 Sustainability Report | JERVOIS GLOBALOur Stakeholders
We recognise the importance of forging meaningful, trusting and valued relationships with our workforce, thecommunities, Indigenous Peoples and host governments where we operate as well as with our customers,
suppliers, shareholders and other partners.
We also engage with a broad range of other stakeholders
including policy makers, non-governmental organisations(“NGOs”), financial institutions, civil society organisations(“CSOs”), industry associations, multi-stakeholder initiatives,
ESG standard setting bodies, universities and others.

Among key channels for engagement, at operations level weprioritise meetings with community groups, Town Halls, ourgrievance processes, and regular meetings with our workforce
and contractors. More details on our local engagement efforts
can be found on p. 51 and 58-59.

Stakeholder engagement at every
level of Jervois is vital to our ability
to continually improve upon our ESG
performance and, ultimately, achieve
our sustainability aims.

Our engagement in industry associations has proven to beparticularly useful to identifying best practices, improving ourunderstanding of the shifting landscape of ESG standards andsharing lessons learned on ways to achieve our sustainability
goals.

We believe that creating multiple channels for open and honest
dialogue with our stakeholders is critical to understanding andaddressing their interests, priorities and concerns while laying
the groundwork for more informed decision-making. Because
priorities can change and new issues can emerge, we see
stakeholder engagement as an ongoing priority.
By using a range of strategies, we have improved ourunderstanding of most critical issues for our stakeholders andour business while strengthening our ability to identify andaddress sustainability risks and opportunities as they arise. In
many cases, our response to issues is made stronger throughjoint cooperation and collaboration with our stakeholders.

Among examples, in May 2022, Jervois participated in the
Cobalt Institute Annual Cobalt Conference in Zurich,
Switzerland. Key outcomes included training to enhance theCompany’s capacity to meet the requirements of EU legislation
concerning human rights and environmental justiceexpectations of companies working within or with supply chain
links to EU-based companies.
Jervois also joined the U.S. Critical Materials Institute (“CMI”),
a Department of Energy (“DOE”) Innovation Hub led by theAmes National Laboratory (“ANL”), and the National Mining
Association (“NMA”) during the year.
The following outlines in our participation in key organisations
and many of the initiatives and standards to which we commit.
More information can be found in the sustainability section of
our website.

VIP attendees at ICO
Opening Ceremony (left toright): Dr. Isaf Al-Nabulsi,
U.S. Dept of Energy; Mr.
Matthew Lengerich,
Executive General
Manager Mining, Jervois;
Ms. Jennifer Knight, U.S.
Dept of Commerce;
Ambassador the Hon.
Arthur Sinodinos AO; Dr.
Geri Richmond, U.S. Deptof Energy; Mr. Peter
Johnston, Chairman,
Jervois; the Hon. Bradley
Little, Governor of Idaho;
Mr. Bryce Crocker, Chief
Executive Officer, Jervois

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2022 Sustainability Report | JERVOIS GLOBAL

Memberships, Affiliations and Voluntary Commitments
Jervois believes in being an active member and partner to industry groups and other organisations, including by participating instrategically significant initiatives alongside our peers. Our memberships reflect our core beliefs while strengthening our ESG efforts andour desire to help set and learn best practices. Below are examples of Jervois’ memberships.

Jervois support and refers to a combination of voluntary frameworks to help us manage our impacts and maximise the benefits tocommunities, the environment and other stakeholders. These initiatives help ensure that we adhere to high standards from an
economic, social and governance perspective.
UN Sustainable Development Goals (“SDGs”)
The UN SDGs were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect theplanet, and ensure that by 2030 all people enjoy peace and prosperity. Jervois supports the SDGs and has identified
the goals which are most aligned to our business strategy and where we can have the greatest impact.
UN Global Compact
The UN Global Compact is a call to companies to align their strategies and operations with ten universal principles
related to human rights, labour, environment and anti-corruption, and take actions that advance societal goals and theimplementation of the SDGs. Jervois aims to join the UN Global Compact in 2023.
UN Guiding Principles on Business and Human Rights (“UNGPs”)
The UNGPs define concrete, actionable steps governments and companies can take to meet their respective duties
and responsibilities to prevent human rights abuses in company operations and provide remedies if such abuses takeplace. Jervois plans to commence reporting according to the UN Guiding Principles Reporting Framework in 2023.
IFC Environmental and Social Performance Standards
Jervois continually aims to align our ESG management standards, procedures and practices with the IFC PerformanceStandards, including as a means to help us better assess and manage environmental, labour, social and other risks inour business.
Extractive Industries Transparency Initiative (“EITI”)
Although none of the countries where our operations are located are EITI members, Jervois supports the EITI’s work to
combat corruption and promote revenue transparency. We annually report our payments to host governments inaccordance with Canadian Extractive Sector Transparency Measures Act (“ESTMA”).
Global Reporting Initiative (“GRI”)
GRI is an independent international organisation that has pioneered sustainability reporting since 1997. The GRI
Sustainability Reporting Standards are the most widely adopted global standards for sustainability reporting. Jervois
began to reference key aspects of the GRI standards in our Inaugural Sustainability Report and, given the 2023 launchof the draft Mining Standard, Jervois intends to report in accordance with this new standard in its 2023 Sustainability
Report.
Sustainability Accounting Standards Board (“SASB”)

The SASB Standards identify the subset of ESG issues most relevant to financial performance in each of 77
industries. This report references standards as outlined SASB’s Metals & Mining Industry Standard, January 1,
2022 version.
Task Force on Climate Related Financial Disclosures (“TCFD”)

The TCFD was created in 2015 by the Financial Stability Board (“FSB”) to develop consistent climate-related
financial risk disclosures for use by companies, banks, and investors in providing information to stakeholders.
Jervois has begun reporting in accordance with the TCFD.

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2022 Sustainability Report | JERVOIS GLOBAL

Our Priorities
The foundation for meaningful progress towards improved
sustainability performance is understanding the significant
environmental, social and economic impacts, risks andopportunities for and from Jervois, as well as the issues thatmatter most to our business and stakeholders.
Against the backdrop of global expectations for sustainability
reporting, our assessment of materiality priorities is informed
through engagement with our internal and external
stakeholders; analysis of external sources including the media,
articles and reports; review of environmental and social impact
assessments; internal documentation including those related
to ESG incidents, grievances and priorities; and dialogues fromboard level and through senior executives to project
management and representatives of our workforce.

Our 2022 priorities were informed by our initial materiality
assessment in 2021 that covered a broad range of topics.
Although sustainability issues in the minerals and metals
sectors tend to be relatively consistent over short periods,
priorities will be further refined for 2023 given the changes instatus of two of our three main operations and emerging issues
in the sector.
Material issues are summarised below and outlined for
different stakeholder groups in Annex One. Our strategic
response to these priorities is threaded throughout this reportand supplemented in the ESG Performance Data Tables,
Annexed to this report.

▪ Ethical Business Conduct▪ Compliance▪ Responsible Supply Chains▪ Human Rights▪ Transparency▪ Climate Change▪ Water and Waste
Management▪ Air Quality▪ Tailings Management▪ Biodiversity andConservation▪ Health & safety▪ Fair pay and decent working
conditions▪ Stakeholder engagement▪ Local employment andprocurement▪ Local economic development

Governance

Environment

People15

2022 Sustainability Report | JERVOIS GLOBAL

Our 2022 Performance Highlights
Given the status of our operations throughout 2022 – JFO in production, ICO in the U.S. under construction throughout the year andcompletion of our acquisition at SMP in Brazil – certain targets at this time are specific to JFO alone (as indicated with a *). Progress on
multiple fronts nevertheless has informed addition of performance targets in 2023 that better reflect progress towards our corecommitments to sustainability.
Performance against 2022 Targets
2022 Targets

Achieved

StatusIn Progress/Ongoing

Not achieved/not started

Commentary

SDG Alignment

Sustainability Commitment #1: We strive to adhere to highest standards for health and safety to eliminate fatalities andprevent workplace illnesses, accidents and serious injuries through consistent, accountable leadership and by providing every
worker with the resources, knowledge, skills and individual responsibility needed to work safely every day.
Zero work related fatalities
Year-on-year reduction in Lost
time incident frequency rate
(LTIFR)*JFO

Health &SafetyYear-on-year reduction Total
recordable injury rate (TRIR)* JFO
Year-on-year reduction in
Incident severity rate

Continue paramount emphasis on OHS. In 2022, JFO
outperformed its TRIR target of 1.41 (achieving 0.48)
and LTIFR target of 7.07 (achieving 2.41). Incident
severity escalated to 26 (from 3). ICO reported
LTIFR=3.8 and TRIR=1.3. All operations cite statistics for
employees and contractors. ICO and SMP baselines willbe established as ICO and SMP come into production.
JFO maintains ISO 45001 (as well as 9001 and 14001)
certifications. Both ICO and SMP have initiated theprocess to achieve certification. (p. 32).

Sustainability Commitment #2: We strive to ensure excellence in environmental stewardship by responsibly, safely andefficiently managing our carbon footprint and all water, tailings and other waste and materials; minimising impacts on
biodiversity, land, air, water and human beings; and reclaiming, rehabilitating and restoring ecosystems
Define and progress towards
targets to reduce Total Scope 1
and Scope 2 CO2eq emissions*JFO

JFO’s Carbon Reduction Roadmap and 2035 Net Zero
Target approved. Reductions in Scope1 and 2 emissions
and related strategies outlined on pp. 38 to 41.
Pre-operation carbon footprints completed at ICO and
SMP. Life Cycle Analysis (“LCAs”) at ICO and SMP will
help inform baselines, strategies and targets.

Increase recycling and reuse of
non-hazardous wastes*JFO

At JFO, almost 100% of non-hazardous wastes wererecycled or reused in 2022. The proportion of all wastes
going to final disposal declined from 24.7% to 8.0%
between 2020-22. Strategies will be developed at ICO
and SMP as they move towards production. (p. 44-45).

Zero significant water related
incidents

Two reportable incidents at ICO (p. 37). Robust water
management and monitoring is in place. ICO’s water
treatment plant and pump-back system to ensure no
contaminated water leaves the site (pp. 42-43).

Zero significant tailings related
incidents

ICO’s zero discharge tailings storage facility in operation
and underwent 3rd party audit in 2022. Benchmarking
against Global Tailings Standard initiated. (p. 45).

100% of days below air emission
limits for Co + Ni*JFO

Continue rigorous management practices at JFO. ICO
and SMP will develop suitable targets as they movetowards production. (p. 46).

Environment

Sustainability Commitment #3: We strive to create inclusive, supportive and fair working conditions by acting intentionallyto ensure our employees, community members, suppliers and other stakeholders are treated with dignity and respect; bycreating diverse, safe and welcoming working environments; by integrating human rights and fair labour practices in bothprinciple and practice at all levels.
Maintain a turnover rate below
10%*

Turnover averaged 10.1% across the Group. Turnover at
JFO declined from 8.7% to 7.8%. ICO’s rate was high(31%), in part linked to competitive job market in the
U.S. Planned actions include expanded efforts to
support life-long learning and professional development
and strengthening of grievance mechanisms. (p. 54-57).

Increase % of women in
management and professional
positions

Within our operations, women comprise 37% ofmanagement (29%) and professional (45%) positions,
respectively. This represented a significant decline from
45% in 2021. Multiple strategies to support diversity,
equity and inclusion are underway (p. 54-57).

Social16

2022 Sustainability Report | JERVOIS GLOBAL

Performance against 2022 Targets
2022 Targets

Achieved

StatusIn Progress/Ongoing

Not achieved/not started

Commentary

SDG Alignment

Sustainability Commitment #4: We strive to forge meaningful, trusting and valued relationships with communities,
governments and partners where we operate through inclusive, transparent and open engagement and commitments tofairness, justice and human rights.

SocialIncur zero significant disputes
related to our workforce,
communities and Indigenous
Peoples

Actions to strengthen engagement and deepen
relationships continue to be implemented andexpanded (see pp. 51-52, 56, 58-59).

Sustainability Commitment #5: Generate tangible socio-economic benefits in communities where we operate, particularly for
women, youth, indigenous peoples and disadvantaged groups, through strategies to help respond to development priorities
and increase local opportunities for employment, procurement of goods and services and research, training and skills
development.
Initiate process to formalise
community engagement
strategies

ICO CBA in final stages. All operations advancing on
formal community engagement strategies. (p. 58-59).

Sustainability Commitment #6: Swiftly and systematically manage and respond to opportunities and risks at corporate-andproject-level, including emerging development opportunities and risks related to climate change, human rights and supply
chains.
Incur zero fines and/or sanctions
for non-compliance withlegislation

GovernanceCompliance continues to be a paramount priority.
Group-wide ethics and compliance training, progress on
ISO certifications at ICO and SMP and robust monitoring
will help maintain track record. (pp. 32, 36 and 43).

Sustainability Commitment #7: Foster responsible, ethical supply chains through zero tolerance for child labour, forced
labour and conflict in our supply chains; requirements for transparent, responsible sourcing by our suppliers; and ethicalsupply and use of our products.
Strengthen internal capacity forhuman rights due diligence insupply chains

Ongoing. JFO’s robust due diligence framework
continues to conform with Responsible Minerals
Initiative (“RMI”) requirements. Group-wide efforts
underway to expand human rights and environmental
due diligence in our business and supply chains. (pp. 2526).

Sustainability Commitment #8: Deliver through good governance including by monitoring and transparently reporting on our
performance; maintaining accessible, fair and confidential grievance and whistleblower mechanisms; aligning our policies,
standards and procedures with key international codes, principles and initiatives; and fulfilling our commitments totransparency, fair and ethical business practices and zero harm.
Incur zero significant humanrights related incidents

Continue to strengthen human rights due diligence,
integration in training and strengthening of training andwhistleblower and grievance processes. (pp. 25-26, 52).
* Given pre-production status of ICO and SMP, targets indicated with (*) are specific to JFO

17

2022 Sustainability Report | JERVOIS GLOBAL

Leadership & GovernanceAchievement of Jervois’ mission to be the leading supplier of responsibly sourced
cobalt and nickel metal and chemical products, and to provide a secure supply to
consumers, hinges on exceptional leadership and robust governance. Good
governance ensures we create, sustain, and deliver value in the short, medium,and long-term with due consideration of the interests of our business and thoseof our stakeholders and in full alignment with our core values, principles, andcommitments.

18

2022 Sustainability Report | JERVOIS GLOBAL

Our Approach
Achievement of Jervois’ mission to be the leading supplier of responsibly sourced cobalt and nickel metal andchemical products, and to provide a secure supply to consumers, hinges on exceptional leadership and robust
governance.
Good governance ensures we create, sustain and deliver value in the short, medium and long-term with due consideration of theinterests of our business and stakeholders and in full alignment with our core values, principles and commitments.
BOARD OF DIRECTORSBOARD OFDIRECTORS ANDSENIOR
MANAGEMENTREMUNERATION
AND NOMINTATIONCOMMITTEE

AUDIT AND RISKCOMMITTEE

ESG & COMPLIANCECOMMITTEE

GOVERNANCE
COMMITTEE

Policies
Codes &
Charters

CEO

COPORATE &ESG RISKMANAGMENT

Corporate
Frameworks
Standards &Guidelines

EXECUTIVE MANAGEMENTEGM FINANCE/CFO

EGM LEGAL

EGM COMMERCIAL

EGM MINING

GM ESG

GENERAL MANAGERS
PROJECTLEVEL ESGMANAGEMENT

Environment
Teams

Health and
SafetyTeams

Community
Engagement
Teams

Human
Resource
Teams

Supply Chain
Teams

Technical
Teams

Information
Technology
Teams

Finance
Teams

Project Level
Policies,
Procedures& Guidelines

ESG Risk and Opportunity Management
Accountability for our governance and performance ultimately
lies with our Board of Directors (“the Board”). The Board charts
the course for our business, gauges our risk exposure andoverall risk appetite and ensures that sound governancesystems are in place and support achievement of our goals.
Among the broad range of priorities outlined in our Annual
Report, 2022 saw a focus on ESG risks and opportunities.
In addition to periodic briefings of the Board on any emerging
and significant ESG risks, opportunities, and incidents, 100% ofBoard meetings in 2022 included an agenda item specific to
ESG. While briefings focused on the status of ESG integration,
performance and related risks and opportunities, various
priority issues were profiled.
Within their respective areas of responsibility, our Committees
and Senior Management continually identify, prioritise andmonitor emerging and prevailing risk while ensuring resulting
decisions and actions are aligned with our core businessobjectives and vision, values and principles.

Our Audit and Risk Committee plays a key oversight role withsupport from the Remuneration and Nomination function
within the Board and Senior Management team.
This was reinforced by bi-monthly ESG and Compliance
Committee meetings, co-chaired by our CEO and GroupManager – ESG and comprised of key members of our senior
management team. While reviewing progress, the Committee
provided direction and guidance for effective management ofemerging and prevailing ESG opportunities and risks.
This integration is further supplemented by weekly, bi-weekly
or monthly scheduled updates between the Group Manager –ESG, and key members of the Executive and Senior
Management team, including the CEO, CFO and commercial
team members.
In 2022, the ESG and Compliance committee met five (5) times.

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2022 Sustainability Report | JERVOIS GLOBAL

ESG on the Board Agenda
In 2022, ESG was a specific agenda item on 100% of Board meetings and was further integrated within operational, commercial andother updates. Key topics receiving special emphasis from the Board in 2022 included, but were not limited to:▪

Health and safety▪

Human rights▪

Climate action▪

Responsible supply chains▪

Diversity, equity and inclusion

A special Strategy Session of the Board and Executive Management team was additionally held on Jervois’ 2022-24 ESG roadmap, withextended review of diversity and inclusion and Jervois Finland’s carbon reduction roadmap and net zero targets.

Building Ownership at all Levels
Leadership on sustainability from the Board and Executive
Committees sets the tone for our operations and projects. In
response to priorities emerging in 2022, Jervois leadership took
steps to institute mechanisms to further embed ESG at all levels
and strengthen lateral (between operations) and vertical (frombottom to top) coordination, collaboration and ownership of
ESG outcomes.
Among key actions, three working groups focused on priority
topics were established, with progress reported to andregularly reviewed by the ESG & Compliance Committee.
Comprised of a cross-section of executive and senior
management and key operational leads, the working groups
aim to guide and advance progress in critical areas and – mostimportantly – embed resulting strategies across theorganisation.
These included:▪

▪

Diversity & Inclusion Working Group: Comprised of
the Executive GM (Legal), Executive GM (Mining),
President of JFO, Project Director (SMP), GroupManager – ESG and Senior Consultant in Human
Resources, the group aims to guide development ofdiversity, equity and inclusion (“DEI”) strategies andtheir integration across the organisation.

reduce our carbon footprint, increase our climate risk
resilience and cultivate opportunities to contributeto climate action through partnerships, ourworkforce, communities and supply chains.

▪

Responsible Supply Chain Working Group: Led by the
Sustainability Head for JFO and comprised of the GMESG and operational heads in procurement andcommercial functions, the group is advancing efforts
to strengthen human rights and environmental due
diligence systems in both our mineral and nonmineral supply chains.

In addition, as our operation in Idaho advanced withconstruction and Brazil moved towards detailed engineeringand refurbishment, Jervois increased its efforts to leverageexperience and expertise across our operations. Peer-to-peer
coordination was strengthened on a number of fronts ranging
from industrial hygiene to diversity strategies during
recruitment to improving effectiveness of our grievancemechanisms.
Processes to support vertical bottom-up and top-down andlateral collaboration, communication and cooperation across
Jervois is yielding valuable outcomes in terms of building
understanding and capacity, harmonising approaches andachieving buy-in at all levels.

Climate Action Working Group: Comprised of the
Executive GM (Mining), Group Manager – ESG andtechnical leads from operations, the group aims to20

2022 Sustainability Report | JERVOIS GLOBAL

Policies, Charters and Codes
Jervois commitments to good governance, sustainability andhuman rights are underpinned by our policies, codes, andstandards, available on our website.
These include the Charters guiding the Board functions and arange of policies directing our Group-Wide response. Amongthese, our Code of Ethics and Business Conduct, which aims totranslate our core values and principles into action, and ourWhistleblower Policy, which provides a mechanism to support
accountability and oversight of our conduct. Our Sustainability
Policy details our commitments on issues across the ESG
spectrum. Our Diversity Policy outlines our commitments,
objectives and responsibilities in advancing diversity targets.
Our Human Rights Policy strongly reaffirms our commitment
to respect human rights, including those concerning labour
rights, indigenous rights and women’s rights and the range ofother rights and freedoms enshrined in the Universal
Declaration of Human Rights and International Labour
Organisation (“ILO”) Core Conventions.
These are supported by our new Supplier Standard and, in
conjunction with our acquisition of Jervois Finland, integrated
a new Cobalt Sourcing Policy and related procedures to bolster
our responsible sourcing efforts (p. 25).

Commitments to Transparency
Public disclosures related to our policies, actions taken, andperformance reinforce our accountability to our stakeholders.
We support a number of international frameworks such as theExtractive Industries Transparency Initiative (“EITI”). Although
we currently are not producing in any EITI member States, we
support the work being done to fight corruption.
In addition to quarterly, annual and other reports via the ASX,
Jervois reports publicly on payments to governments in the
countries where we operate, as required under the Canadian
Extractive Sector Transparency Measures Act (“ESTMA”).
These payments include taxes, royalties, and other payment
types, by country and on a project-by-project basis, in relation
to the commercial development of minerals. See our ESTMA
disclosure on the investors page on our website.
In addition to this 2022 Sustainability Report, other recent ESG
disclosures include our 2022 Modern Slavery Statement and,in conjunction with RMI requirements, Jervois Finland’s Public
Due Diligence Report, among others.

Ethics & Compliance
Jervois commits to upholding the highest standards of ethicalconduct and legal compliance in all aspects of our business.

The Jervois Code of Ethics and Business Conduct is thecornerstone of our commitment to conduct our business withhonesty and integrity and in compliance with all applicablelaws. The code sets out the standards for conduct that we
expect of our employees and all those with whom we have abusiness relationship. This includes with respect to anticorruption and anti-bribery, behaviour in communities and theworkplace, including with respect to a range of human rights
issues. Our contractors, consultants and other suppliers arecontractually required to comply with our Code of Ethics andBusiness Conduct.
This is reinforced by our Whistleblower Policy, the purpose ofwhich is to provide an avenue for reports to be made regarding
corporate misconduct, irregularities or any other behaviour
which is unethical, corrupt or illegal relating to the Jervois
Group. These potentially include reports concerning humanrights abuses, encompassing modern slavery, or suspected actsof corruption. The policy outlines the process for reporting andthe protections and support available to individuals reporting,including anonymity under the Corporations Act 2001 (Cth)(Australia).
In 2022, zero complaints were received via our whistleblower
process.
Our Supplier Standard further clarifies expectations of ourcontractors, consultants, and other suppliers with respect toethical business conduct, human rights (including thoseconcerning child labour and other forms of modern slavery),health and safety and environmental responsibility. Additional
requirements are outlined for suppliers of mineral raw
materials and product in accordance with OECD Due Diligence
Guidance for Responsible Supply Chains of Minerals from
Conflict-Affected and High-Risk Areas (p. 25).
In late 2022, Jervois contracted People InTouch to reinforce
Jervois’ whistleblower and grievance mechanisms through aconfidential online and hotline-based SpeakUp Programme
across the Group. The program is planned to be launched in thefirst half of 2023 and will be availed globally on our website andat each of our operations in the U.S., Finland and Brazil via
SpeakUp campaigns targeting our workforce, contractors andproject affected communities.
Efforts in 2022 also include integration of Code of Conduct
training during induction and onboarding of new employees
and contractors, respectively. Deeper integration in supplierdue diligence is described further on p. 25-26.
Initial steps have been taken to develop web-based Groupwide curriculum on a broad range of ethics and compliance
topics targeting Board and Executive Management through tooperations. Rolling out this training is one of Jervois’ highest
priorities in 2023.

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2022 Sustainability Report | JERVOIS GLOBAL

Accountability Mechanisms
Jervois is committed to ensuring the highest standards of fairdealing, honesty, and integrity in its business activities.
To support this, the Company adopted a new Supplier Standard
in 2021 that was implemented across the Group in 2022. Thisoutlines expectations for our suppliers, consultants,
contractors, and others who provide goods and services to ourbusiness. The Supplier Standard spans issues from anticorruption to human and labour rights, health and safety,
environment, and responsible mineral supply chains. The
Group's contractual agreements with its suppliers further
formalised supplier commitments to ethical practices byrequiring compliance with our Code of Ethics and BusinessConduct.
Our efforts to support ethical practices in our business andsupply chains were further reinforced during the acquisition of
Jervois Finland through integration of a Cobalt Supply Chain
Policy and related procedures to support continued
conformance with the RMI’s Downstream Conformant Facility
status.

These mechanisms bolster our efforts to increaseaccountability through our Group-wide whistleblower process,
RMI-hosted grievance mechanism and local internal andexternal grievance mechanisms. In 2022, zero grievances werereceived via the RMI mechanism. As part of the company’s due
diligence management system, in 2022, a total of sevenremarks were reported and investigated, all of which weredeemed to pose low risks to responsible sourcing.
In late 2022, Jervois contracted People InTouch to reinforce
Jervois’ whistleblower and grievance mechanisms through aconfidential online and hotline based SpeakUp Programme
across the Group. See p. 52 to learn more about our progress.
There is a standard agenda item at each Board meeting thatconcerns corporate governance and compliance. This includes
any reports via the Whistleblower Policy, breaches of the Codeof Ethics and Business Conduct and any related information.
Public disclosures related to our policies, actions taken, andperformance reinforce accountability further. In addition toquarterly and other reports via the ASX, this includes our 2022
Sustainability Report, 2022 Modern Slavery Statement and, in
conjunction with RMI requirements, Jervois Finland’s Public
Due Diligence Report, among others.

222022 Sustainability Report | JERVOIS GLOBAL

Our Performance
We see ethical, responsible and accountable governance as fundamental to achieving and sustaining bestpractice. While our 2022 targets and planned actions provide insight into our performance in fundamental
areas, a more genuine measure is our progress towards an organisational culture that fully embraces our corevalues and principles at all levels.
Among Group-wide performance highlights, we incurred nofines, sanctions or penalties and incurred zero human rights
related incidents in 2022.
In 2022, we took steps to further strengthen embed key
corporate policies and standards throughout the organisation
including through inter-operation collaboration on key topics,
including on responsible supply chains, diversity and inclusionand climate action, among others.

Board and Executive team. We further aimed to strengthen
ESG integration within the mandates and functions of the
Executive Management, including through a review of theirindividual key performance indicators (“KPIs”).
We are proud to highlight our approach to governance andtargeted action across range of material topics. As governancecrosscuts all aspects of our business, more details can be foundthroughout subsequent sections and in our GRI, SASB and TCFD
disclosures in Annexes 2 to 4.

ESG continued to be integrated within Board agendas
throughout 2022 and received additional focus duringextended sessions on diversity and climate action with the

Performance Against 2022 Governance Targets

Achieved

In Progress/Ongoing

StatusNot achieved/not started

Comments

Jervois Global
Incur zero fines and/or sanctions for non-compliance withlaws and regulations.

Achieved.

Incur zero significant incidents related to human rights.

Achieved.

Increase % of workforce trained in ethics and compliance.

Integrated within onboarding and induction related
to Code of Ethics and Business Conduct, SupplierStandard. Group-wide roll-out of harmonised
content in development.

Strengthen internal capacity for human rights due diligencein supply chains.

Significant progress in building competence of
persons in key functions. Will continue into 2023.

Formalise performance evaluations of Board and Executive
Management level with respect to priority ESG metrics.

Completed review of ESG integration in KPI’s of
Executive and Senior Management Team. Formal
Board evaluation procedure pending.

Review and ensure alignment of policies and standards with
the UN Guiding Principles on Business and Human Rights
and OECD Guidelines for Multinational Enterprises.

Largely achieved and ongoing as Group-wide policies
extended to operations.

23

2022 Sustainability Report | JERVOIS GLOBAL

Board Composition & Performance
The Board is composed of leaders whose individual and combined expertise, shared values and principles, and exceptional commitment
to Jervois’ success determine our organisational culture. During the period ending 31 December 2022, the Board was comprised of one
Executive Director and five Non-Executive Directors, all of whom were independent with the separate roles of the Non-Executive
Chairman and Chief Executive Officer governed by the Board Charter.

Age diversity

>60
50-59
40-49

Geographic
diversity

Independence

Australia
South Africa
US
BrazilGender diversity

Independent

Male

FemaleNonindependent

Board performance
The number of meetings of the Company's Board held during the year ended 31 December 2022 was 16 and the number of meetings
attended by each Director were:
Directors’ meetings

Meetings of committees of Directors
Nomination andRemuneration
H
A

Audit and Risk
H

A

H

A

Bryce Crocker

16

16

-

-

-

-

Peter Johnston

16

16

2

2

-

-

Brian Kennedy

16

16

2

2

2

2

Michael Callahan

16

16

2

1

2

1

David Issroff

16

16

-

-

2

2

Daniela Chimisso dos Santos

1

1

-

-

-

-

H
A

Held
Attended

Performance evaluation
During the year, the Board did not undertake a specific internal performance evaluation to assess the overall effectiveness of the Boardand its committees, however it did consider these aspects of its roles and responsibilities on an ad hoc basis at its regularly scheduled
Board meetings and through its review of its ESG activities. The Board evaluated the performance of its Chief Executive Officer during
the period.
Moving forward, it is intended that internal evaluations will identify strengths and areas for improvement and to outline strategies andactions to enhance performance during the year will be undertaken.

242022 Sustainability Report | JERVOIS GLOBAL

Responsible Supply Chains
Jervois commits to fostering responsible, ethical supply chains through zero tolerance for child labour or any
form of modern slavery and conflict in our supply chains; requirements for transparent, responsible sourcing
by our suppliers; and ethical supply and use of our products.
Given specific risks that can be associated with cobalt mineral
supply chains, Jervois places special emphasis on conformancewith the OECD Due Diligence Guidance for Responsible Supply
Chains of Minerals from Conflict-Affected and High-Risk Areas.
Jervois Finland (“JFO”) is the first cobalt powder and chemical
producer in the world to achieve Conformant Downstream
Facility status through the Responsible Minerals Initiative's(“RMI’s”) Downstream Assessment Program (“DAP”). RMI
developed the DAP as a mechanism by which downstream
companies, within the cobalt, tin, tantalum, tungsten, or gold
supply chains, obtain independent validation that their
responsible sourcing practices are aligned to the OECD
Guidelines. In addition, this assessment identifies and confirmsthat our cobalt is sourced from suppliers conformant to RMI’s
Responsible Materials Assessment Process (or its equivalent),
scrap or recycled materials. Jervois Finland Oy’s conformancestatus is publicly listed at Downstream Assessment Program(responsiblemineralsinitiative.org).
During 2022, we continued with our efforts to utilise OECD
Guidelines’ five-step process for the responsible sourcing ofcobalt raw materials. In conjunction with this, JFO annually
releases Public Due Diligence Report .
In 2022, as part of the company’s due diligence management
system, a total of seven remarks were reported andinvestigated, all of which were deemed to pose low risks to
responsible sourcing. Zero grievances were received via the
RMI-hosted grievance mechanism during the period.
Following an independent, third-party audit of our responsible
sourcing program, in December 2022, RMI renewed JFO’s
status as a conformant downstream facility in accordance with
the DAP.
Throughout the year, we strengthened coordination between
our mineral supply chain experts in Finland and those
performing key functions in the U.S. and Brazil with the intent
of supporting compliance with the OECD guidance as they
move into production.

Expanding the Scope of Due Diligence
Jervois also initiated efforts to expand the scope of our current
supply chain due diligence to more effectively address broader
human rights and environmental risks in-line with the UN
Guiding Principles on Business and Human Rights and OECD
Guidelines for Multinational Enterprises.
In conjunction with this, key Jervois personnel have continued
engagement with the Cobalt Institute (“CI”) Learning Group
that aims to strengthen capacity of members to implement
environmental and human rights due diligence. Our internal
capacity was substantially reinforced through virtual and inperson trainings that provided considerable direction.

In 2022, we took steps towards more
profound environmental andhuman rights due diligence for both
non-mineral and mineral supply
chains.
Our contractors, consultants and other suppliers are alreadycontractually required to comply with our Code of Ethics andBusiness Conduct. This is reinforced by our Supplier Standard
and related due diligence.
In 2022, we began to revisit and reinforce our Know-YourCounterparty (“KYC”) process for both mineral and nonmineral supply chains. This progress is reinforced by Jervois’
recent contracting of People InTouch to provide organizational
support, to support improvements to our existing
whistleblower and grievance mechanisms (p. 52). Throughout
2023 we will roll-out our “Speak Up” culture at all levels of theorganization, including with our suppliers.
Additional details of our business and supply chain due
diligence can be found in our 2022 Modern Slavery Statement.

25

2022 Sustainability Report | JERVOIS GLOBAL

Human Rights
Jervois believes in the inherent dignity, equal value and entitlement of every human being to the same humanrights without discrimination. As a company and as individuals, we have a responsibility to develop an
organisational culture which supports internationally recognised human rights and seeks to avoid complicity inhuman rights abuses.
Human rights are woven throughout our core values andprinciples, embedded within our Code of Ethics and BusinessConduct, and are progressively being integrated within ourstandards, procedures and practices. Last year, we launched
our Human Rights Policy, which explicitly reaffirms ourcommitment to respect human rights as enshrined in the
Universal Declaration of Human Rights and ILO Core
Conventions. The Policy defines the ownership andaccountabilities of our Board and management and clarifies
expectations for our employees and other stakeholders.
We recognise that our business can positively and negatively
impact human rights in many ways. This can span all facets ofthe business, from our procurement and human resource
practices to occupational safety and health to our community,
employee and supplier engagement, among others. Humanrights are progressively becoming embedded with our broadersocial management processes across Jervois.
As such, we’ve begun to explore how to identify, assess andaddress our human rights risks through integration within ourrisk management processes. In 2022, we explored additional

opportunities to embed human rights through our working
groups and activities related to diversity, equity and inclusion(p. 57), responsible supply chains (p. 25), stakeholder
engagement (p. 51). and strengthening of our grievancemechanisms (p. 52) that cross-cut multiple priorities across ourorganisation. In 2022, we released our second Modern Slavery
Statement, which further highlights our actions to address
modern slavery risks in our business and supply chains.
Throughout 2022, building our human rights competence wasa key priority. Among efforts, members of the Jervois teamparticipated in the Cobalt Institute (“CI”) Learning Program. A
series of in-person and remote trainings significantly
strengthened our capacity to enhance human rights andenvironmental due diligence in our business and supply chains.
While much more is to be done, our actions in 2022 provide thefoundation for improving our human rights responsiveness inthe years to come.
Some of our most salient human rights issues in 2022 aresummarised below.

Summary of Main Human Rights Issues in 2022
Salient Issue
Right to Life

Relevant Rights Holders
Employees, contractors,
subcontractors, communities

Relevant 2022 Activities
Responsible Supply Chains (pp. 25); Occupational
health and safety (p. 30-33); Our Workforce (p. 54-56),
Our Host Communities (p. 58-60)

Right to health

Employees, contractors,
subcontractors, communities

Responsible Supply Chains (pp. 25); Occupational
health and safety (p. 30-33); Our Workforce (p. 54-56),
Our Host Communities (p. 58-60)

Right to enjoy safe and healthy
working conditions

Employees, contractors,
subcontractors, suppliers

Responsible Supply Chains (pp. 25); Occupational
health and safety (p. 30-33); Our Workforce (p. 54-56).

Right to freedom of
association, assembly andcollective bargaining

Employees, contractors,
subcontractors,
suppliers

Responsible Supply Chains (pp. 25); Our Workforce (p.
54-56).

Right to non-discrimination in
employment

Employees, contractors,
subcontractors, suppliers

Responsible Supply Chains (pp. 25); Our Workforce (p.
54-56).

Right to not be subject toslavery, servitude or forced
labourContractors, subcontractors,
suppliers

Responsible Supply Chains (pp. 25); Our Workforce (p.
54-56).

Right to clean water andsanitation

Employees, contractors,
subcontractors, communities

Water & Waste Management (p. 42-45); Air Quality (p.
46); Our Host Communities (p. 58-60).

26

2022Sustainability
SustainabilityReport
Report| |JERVOISJERVOISGLOBALGLOBAL
2022

Jervois Partners with HALO Trust to Support the People of Ukraine
Beyond on our commitments to responsible, ethical action in our operations and across our organisation, Jervois recognises our role in
the global community. In early 2022, as the atrocities in Ukraine undertaken by Russian military forces came to light, Jervois sprang into
action to identify ways in which we could support humanitarian efforts across the country. After much due diligence, we identified HALO
Trust as a highly credible, respected organisation who was already playing a crucial role on the ground.

Jervois raises ~US$100,000 for HALO Trust
Through Jervois dollar-for-dollar matching funds program from its employees, we raised and donated almost US$100,000 to HALO Trustin a few short months when HALO Trust was moving to expand its operations in the country.

Why Halo Trust?
The humanitarian crises in Ukraine calls for unprecedented support from the global community. UNICEF, UNHCR, the Red Cross and arange of other organisations are working around the clock to provide the help needed. But unexploded bombs, land mines and otherexplosives litter the country.
Humanitarian aid cannot do much good unless it reaches those who need it.
•

HALO Trust (“HALO”) plays a crucial role in enabling safe passage of aid workers and evacuees and delivery of humanitarian aid
from contested and besieged cities by assessing explosives risks and clearing munitions along these corridors.

•

HALO’s risk education program has already provided 15 million Ukrainians with life-saving guidance on how to identify munitions
and protect themselves. This includes men, women and children sheltering in towns currently under fire, survivors emerging
from their basements in areas where the Russians have retreated, and countless others across the country searching for loved
ones in the rubble of bombed buildings.

•

HALO has been entrenched in Eastern Ukraine since 2016 and has a substantial organisational presence in the country. HALO’s
600+ personnel are trained paramedics, many of whom have been bravely providing medical treatment, supporting evacuations,and providing other aid under extremely dangerous conditions.

•

HALO is internationally respected and renowned as the oldest and largest humanitarian landmine clearance organisation in theWorld. They have an exceptional track record in conflict zones, such as Syria and Afghanistan, and Jervois is proud to support
HALO’s critical role in humanitarian efforts in Ukraine.

To learn more and support HALO Trust’s important efforts in Ukraine, please visit www.halotrust.org.

27

2022 Sustainability Report | JERVOIS GLOBAL

2023 Targets and Planned Actions▪

Targets:▪

Complete assessments of succession plans to develop
phased diversity targets for Executive and Senior
management.

▪

Formalise enhanced processes and continue to embedhuman rights and environmental due diligence acrossthe business in line with the UN Guiding Principles on
Business and Human Rights and OECD Guidelines forMultinational Enterprises.

o Incur zero fines and/or sanctions for non-compliancewith laws and regulations.
o Incur zero significant incidents related to humanrights.
o Increase percentage of workforce trained in ethics
and complianceo Strengthen internal capacity for human rights due
diligence in supply chains282022 Sustainability Report | JERVOIS GLOBAL

Occupational Health & Safety
Work safely – all the time. This core principle is at the forefront of all Jervois
activities. We diligently and continually strive to adhere to the highest standards
for health and safety to eliminate fatalities and prevent workplace illnesses,
accidents and serious injuries through consistent, accountable leadership and byproviding every worker with the resources, knowledge, skills and individual
responsibility needed to work safely every day.

29

2022 Sustainability Report | JERVOIS GLOBAL

Our Approach
We passionately believe that everyone at Jervois should experience a safe and healthy workplace. We arecommitted to the highest standards of health and safety, and we proactively identify and manage risk, conduct
ourselves responsibly, exercise good judgment and take responsibility for our actions.
We put these principles into practice through consistent,
accountable leadership, robust best practice standards andprocedures and by ensuring that every worker is provided withthe resources, knowledge, skills and individual responsibility
needed to work safely every day.

accountability
contractor.

among

every

individual

employeeandGiven the different nature of activities and phases of ouroperations, we recognise that our approach to zero harm must
be tailored to each site.

We believe “Zero Harm” is an achievable goal. This requires
going beyond essential policies and procedures to explicit
efforts aimed to instill a culture of safety, ownership and30

2022 Sustainability Report | JERVOIS GLOBAL

Our Performance
Main highlights of our 2022 health and safety performance
include:▪

Total Recordable Incident Rate (“TRIR”) for employees
and contractors: JFO achieved a TRIR of 0.48, 66%
below its target of 1.41. ICO – amidst a rapid influx ofcontractors, difficult terrain and unpredictable weather
conditions – achieved a TRIR = 1.3. SMP maintained its
TRIR = 0.0.

▪

Training and Onboarding: Across our operations, 97%of employees have received training covering OHS,
including during induction. 100% of on-site contractors
received onboarding training with a core focus on OHS.

▪

Near Miss Incident Reporting: JFO has well establishedtrack record in near miss communications. An
important leading indicator, ICO’s efforts to explicitly

Performance Against 2022 OHS Targets

promote near miss reporting has yielded a marked
increase by both contractors and staff.
▪

Adoption of Supplier Standard: In addition tocontractual requirements for compliance with our
Code of Ethics and Business Conduct, Jervois provides
more detailed expectations for OHS under our SupplierStandard.

▪

Governance: Any significant or reportable incidents arereported to operational leadership, followed by Jervois’CEO, the Group Manager - ESG and others in senior
management. If deemed high risk, these are also
shared via the CEO to Directors of the Company. These
incidents, results of their investigations and status ofcorrective actions are reviewed in bi-monthly meetingsof the ESG and Compliance Committee.

Achieved

In Progress/Ongoing

StatusNot achieved/not started

Comments

Jervois Global
Zero work-related fatalities.

Achieved.

Harmonise training and onboarding protocols and related
data collection and reporting.
Identify entry points to identify and address OHS-related
human rights risks.

Ongoing. Inter-operation coordination establishedand efforts underway.

Benchmark against an industry standard.

Assessment of industry standards is ongoing.

Continues to be a priority but emphasis at SMP andICO on more material issues given phase of activities.

Jervois Finland Oy, FinlandYear-on-year reduction of total TRIR (employees andcontractors). TRIR2022 target = 1.41.

Achieved. TRIR = 0.48 at JFO.

Conduct a review of additional OHS targets.

Ongoing.

Idaho Cobalt Operations, United States
Develop targets as in-production baselines established.

ICO currently suspended.

Initiate process to achieve ISO 45001 certification in 2023.

Initiated and ongoing.

Adopt digital solutions for incident and risk management,
hazard and risk assessment and other priorities.

Incident and risk management applications adopted,
monitoring applications underway.

São Miguel Paulista, Brazil
Develop targets as in-production baselines established.

In-line with production restart.

Initiate process to align with ISO 45001 requirements.

Initiated.

Adopt digital environmental management solutions.

Initiated and ongoing.

312022 Sustainability Report | JERVOIS GLOBAL

Jervois Finland: Dedication to Continuous Improvement
Jervois Finland, a leading producer of specialty cobalt products,
originally commenced operations over 50 years ago and hassince developed mature occupational health and safety(“OHS”) systems and practices, including as required tomaintain its ISO 45001 certification. In addition tocomprehensive incident and risk management protocols,
emergency response and crises management plans, grievancemechanisms and training, among other key components,
Jervois Finland regularly engages the workforce via Workers
Committees.
Dedication to continuous improvement has led to theintroduction of new tools and practices. As one example,
Jervois Finland’s Safety Action Plan includes a multi-indicator
tool that empowers managers and supervisors to inspect andmonitor their own units and departments more systematically.
In addition to strengthening ownership and accountability, thepurpose of surveillance rounds is to identify issues, events orpractices that may have an impact on safety. Results areintegrated into related communications, training, and risk
assessments. Implementation has been integrated within
performance bonus metrics.
Idaho Cobalt Operations: Diligent Focus on Contractor Risk
ICO in the U.S. rapidly advanced construction in 2022, requiring
exceptional leadership and diligence to ensure that allcontractors, in addition to our growing number of employees,
strictly adhere to our high standards. ICO’s focus on safety
extends well beyond standard rules and procedures to explicit
actions to foster cooperation, open lines of communications
with all staff, contractors and their workers and ensure safety
is a priority for every person, all day, every day.

within the contractor onboarding process and – particularly
given risks linked to difficult terrain and weather conditions –institution of multiple engineering and procedural controls. ICO
implemented the use of OHS software – Intelex – to assist in
OHS data management for incident reporting across the site.
Leading actions at ICO include starting meetings with safety
discussions; regular safety observations and interactions withworkers by Jervois leadership and construction management;
and weekly “safety blitzes” enlisting each contractor to inspect,
report and ensure correction of any deviations.
Given constraints in communities around ICO, Jervois’ three
Emergency Medical Technicians (“EMTs”) generously serve as
volunteers for local ambulance services on their days off.
São Miguel Paulista: Building a Strong Foundation
With completion in mid-2022 of acquisition of SMP nickel andcobalt refinery in Brazil, expansion of the OHS team became anurgent priority prior as the project moved towards detailed
engineering and refurbishment.
Considerable progress has since been made on all aspects of acomprehensive EHS management system, including withrespect to core policies, procedures and training materials.
Particularly given risks associated with contractors during theconstruction phase, strong systems and processes are being
put in place to establish lines of communication and ensure
adequate oversight of contractors.
Given SMP’s intent to achieve certification for ISO 9001, 14001
and 45001 (covering quality, environmental and occupationalsafety and health management), proposals are currently underreview to benchmark current policies, procedures andprocesses and support the process.

Fundamental actions at ICO include regular inspections by
Jervois’ leadership at all levels, rigorous integration of OHS

Key Health and Safety Statistics: FY 2022
JFO Finland

ICO USASMP Brazil

Work related fatalities

0

0

0

Lost time incident frequency rate (LTIFR)

2.41

3.8

0.0

Total recordable incident rate (TRIR)

0.48

1.13

0.0

Incident severity rate

26

0.3

0.0

Ave. OHS training hours per person*

14.5

-

-

* OHS integrated within JFO training hours. ICO reported % trained
but plans to also track hours in 2023.

32

2022 Sustainability Report | JERVOIS GLOBAL

Industrial Hygiene in the Spotlight
As ICO advanced construction in 2022 and SMP moved towards refurbishment and restart, harmonisation of industrial hygiene (“IH”)
programs across the Group came to the forefront through an inter-operation review process.
Jervois Finland has had a robust IH program in place, with over 50 years of monitoring data that has informed identification ofoccupational hygiene hazards and risks and implementation of related controls. Annually, over 140 monitoring data points for personal
and air exposures are taken and are supported by biological sampling of employees.
Throughout 2022, ICO made rapid progress in developing its IH program, including collecting the baseline information needed forassessment of various risks associated with arsenic, cobalt and other elements, minerals or compounds that may pose concern. This
includes collection and analysis of dust at various monitoring points, establishing a baseline for employees through urine sampling,
identifying potential high-risk locations for dust exposure and monitoring point locations. Standard controls are being instituted and/or
are planned as required by ICO’s shift into production.
SMP historically had a similarly robust IH program in place and has commenced benchmarking and upgrading all environmental and OHS
policies and procedures, including those related to IH.
Learn more on page 46 about our efforts to ensure high air quality standards in our efforts to minimize risks of occupational exposuresin our workplaces.

332022 Sustainability Report | JERVOIS GLOBAL

2023 Targets and Planned Actions.
Jervois Global:

Idaho Cobalt Operations, United States:▪

Zero work-related fatalities.

▪

▪

Integrate human rights in OHS risk management
processes.

Advance process to achieve ISO 45001
certification.

▪

Adopt digital solutions – Intelex – forinspections, observations, and risk management,
to help streamline OHS risk identification andresponse.

▪

Benchmark against selected industry standards
and frameworks.

Jervois Finland:▪

Year-on-year reduction of total TRIR (employees
and contractors). TRIR2023 target = 0.48.

▪

Maintain high safety level and continue thejourney towards zero work-related accidents.

▪

Establish new comprehensive training platform
for internal and contractor trainings.

▪

Measurable improvements in contractor safety
practices.

São Miguel Paulista, Brazil:▪

Establish and assess appropriate performancetargets for TRIR, LTIFR and incident severity rate.

Advance process to achieve ISO 45001 certification.

34

2022 Sustainability Report | JERVOIS GLOBAL

Environment
We care for our environment, ourselves, our co-workers, our families and hostcommunities. This principle underpins our commitment to excellence inenvironmental stewardship. This includes deliberate action to responsibly, safely
and efficiently manage our carbon footprint and all water, tailings and otherwaste and materials. It also requires purposefully minimising impacts on
biodiversity, land, air, water, and human beings; and reclaiming, rehabilitating
and restoring ecosystems.

35

2022 Sustainability Report | JERVOIS GLOBAL

Our Approach
Whether in detailed design phases, during construction, into operations and beyond, Jervois places high priority
on pollution prevention, our climate change responsiveness, resource efficiency, biodiversity, and the manyother issues critical to the present and future wellbeing of our planet and its people.
We recognise that protection of the environment and theenjoyment of human rights, including the rights to life, health,food, water and cultural heritage among others, areinterdependent.
Through environmentally responsible practices and by taking
deliberate steps to manage and minimise our impacts, we are
better positioned to fulfill our responsibility to respect humanrights and sustain the trust and support of our hostcommunities, governments, and other stakeholders.
With a strict commitment to compliance, all Jervois’ operations
have robust environmental management systems in place,including those related to incident and risk management,
controls to eliminate, prevent or minimise impacts, andsystematic environmental monitoring and reporting.
We apply the precautionary approach when assessing,addressing and managing potential impacts of our actions on
the environment. All operations have environmental

management plans (“EMPs”) in place in accordance withregulatory requirements.
Jervois Finland has been ISO 14001 certified for several years.
In 2022, both ICO and SMP took steps to align theirenvironmental management system (“EMS”) with ISO 14001
and, throughout 2023, will continue to work towards
certification.
Beyond our compliance commitments and strong
environmental management systems, we aim to partner ininitiatives and support research to generate meaningfulenvironmental benefits well beyond the footprint of ouroperations.
Examples highlighted in this section relate to energy efficiency,
the circular economy, biodiversity and conservation andcollaborative models for environmental monitoring, among
others. Research and development, particularly to support our
net zero aims and the circular economy, is a growing priority.

36

2022 Sustainability Report | JERVOIS GLOBAL

Our PerformanceOur 2022 targets aimed to support continuous improvement with recognition of the different stages of ouroperations. As Jervois Finland worked to improve upon its solid track record, ICO expanded its environmental
team and policies, procedures and processes as construction advanced. Following completion of our acquisition
at SMP in Brazil in mid-2022, we took essential steps to lay a strong foundation for best practice.
Among Group-wide performance highlights, we incurred nofines, sanctions or penalties in 2022. We unfortunately
experienced two reportable environmental incidents during
construction at ICO, both of which were immediately
addressed and incurred no penalties. These events provided acatalyst to immediately reinforce our management systems
and amplify our engagement with contractors.
We see environmental leadership and governance as
fundamental to achieving and sustaining best practice. In 2022,
we continued our practice to report any significant orreportable incidents to operational leadership, followed by

Performance Against 2022 Environment Targets

Jervois’ CEO, the Group Manager - ESG and others in senior
management. If deemed high risk, these are also shared via our
CEO to Directors of the Company. These incidents, results of
their investigations and status of corrective actions arereviewed in bi-monthly meetings of the ESG and Compliance
Committee.
We are proud to highlight our environmental performance andefforts on a range of material topics. More details can be foundin our GRI, SASB and TCFD disclosures in Annexes 2 to 4.

Achieved

In Progress/Ongoing

StatusNot achieved/not started

Comments

Jervois Global
Zero significant environmental incidents.

Two reportable incidents at ICO.

Finalise Climate Action Strategy, complete LCAs andconduct climate scenario analysis (1.5°C).

Ongoing. LCAs deferred until in-production baselines
established at SMP and ICO.

Develop recycling and reuse guidance for waste
management.

Continues to be a priority.

Benchmark against an industry standard.

Assessment of industry standards is ongoing.

Jervois Finland, Finland
100% of days within wastewater limits for Co + Ni.

Achieved.

100% of days within discharge volume limits.

Achieved.

100% of days within air emission limits for Co + Ni.

Achieved.

Reduce energy consumption by 3.385 GWh (2020 to 2025).

On-track (exceeded 2022 target).

Idaho Cobalt Operations, United States
Develop targets as in-production baselines established.

ICO currently suspended.

Initiate process to achieve ISO 14001 certification in 2023.

Initiated and ongoing.

Adopt digital solutions for environmental incident and risk
management, environmental monitoring.

Incident and risk management applications adopted,
monitoring applications underway.

Benchmark against Global Industry Standard on Tailings
Management.

Initiated.

São Miguel Paulista, Brazil
Develop targets as in-production baselines established.

In-line with production restart.

Initiate process to align with ISO 14001 requirements.

Initiated and ongoing.

Adopt digital environmental management solutions.

Initiated and ongoing.

37

2022 Sustainability Report | JERVOIS GLOBAL

Climate Change
Traditionally carbon-intensive sectors, such as mining, refining and chemicals production, have a critical role toplay in taking credible climate action. Jervois recognises the risks that climate change poses to society, the global
economy and our business. We firmly support the Paris Agreement and its target to limit global warming to
1.5°C and we strongly recognize our responsibility to heed the call to action.
In 2022, we continued to focus on actions needed to reduce
our carbon footprint, identify and address climate risks to ourbusiness and align our business strategy with opportunities
provided by the transition to a low carbon economy.

Jervois recognises our responsibility to
act towards a low carbon future. In
2022, we set a 2035 net zero target for
Scope 1 and 2 emissions and adopted a
Carbon Reduction Roadmap for our
Jervois Finland operations.

Our “Climate Action Working Group”, comprised ofrepresentatives of senior management and operational
leaders, continued efforts to collaborate on a Climate Action
Strategy. Although progress was made on multiple fronts and aGroup-wide strategy is emerging, we are most proud of a major
milestone for Jervois Finland Oy (“JFO”).
Building upon its track record in meeting and exceeding energy
efficiency targets since 2002, we adopted JFO’s Carbon
Reduction Roadmap that charts a course towards net zero
Scope 1 and 2 greenhouse gas emission by 2035 (see below).

Jervois Finland’s Roadmap to Net ZeroIn 2022, Jervois Finland built upon its two decades of climate action to launch a comprehensive Carbon Reduction Roadmap outlining apath to net zero Scope 1 and 2 emissions by 2035. The Roadmap is underpinned by a series of measures focused on energy andresource efficiency to achieve: a 40% reduction by 2025; 60% reduction by 2030; and a 100% reduction by 2035 based on a 2020
baseline.
Jervois Finland already has a clear line of site on its 2025 targets through a power purchase agreement (“PPA”) with Umicore to purchaserenewable (wind) energy from windfarms (which will account for 20-30% reduction by 2025); and its planned, budgeted and approved
energy saving program, which is already well underway. Actions range from adoption of low carbon technologies and equipment toprocess efficiencies and improvements in waste and water management are already underway to support 40% reductions in Scope 1
and 2 emissions from our 2020 baseline by 2025.
Strategies to advance JFO’s carbon reduction roadmap through to 2035 and beyond include, but are not limited to:•Continued focus on energy and resource efficiency, including through introduction of low carbon technology, equipment andinputs and improvements in water and waste management.

▪

Green electricity. The 2022 renewable energy PPA will account for ~70% of total Scope 2 emissions. JFO will continue toopportunities to further decarbonise its energy supply.

▪

Continued focus on research and development. Climate opportunities are strongly embedded in Jervois Finland’s R&D
program, including several internal projects and external partnerships focused on technology innovations, process efficiencies
and the circular economy (see p. 41)

Globally, pressure is escalating to quantify and tackle Scope 3 emissions (those not controlled or produced by companies but aconsequence of their activities). Scope 3 emissions can constitute a substantial proportion of a total carbon footprint. Jervois Finland
has initiated efforts to investigate key selected suppliers and will progressively work to expand its calculations and efforts to account for
its Scope 3 emissions.

38

2022 Sustainability Report | JERVOIS GLOBALGreenhouse Gas Emissions
At Jervois Finland, Life Cycle Assessments (“LCAs”) completed
in 2012, 2017 and 2019 have supported a robust determinationof our global warming potential (“GWP”) and foundation forannual assessments of our GHG emissions.
Jervois Finland has seen steady reductions in GHG emissions
since the most recent LCA, much of which is attributed to action
on energy efficiency. In terms of emission intensity, Scope 1
and 2 emissions declined from 3.2 to 2.9 kg CO2e per kg ofcobalt between 2020 and 2022. This resulted in a reduction in
the order of 5,900 tonnes of CO2e over the 3-year period (withtotal emissions amounting to 15,300 kg CO2e in 2022).

Total CO2e Emissions at Jervois Finland

Once in production, preliminary indicative estimates of Scope
1 and 2 emissions for ICO and SMP suggest an emission
intensity on the order of 2.7kg and 1.4kg CO2e per kg of cobalt.
Although these early assessments support consideration oflower emission technology options and priority areas foraction, these emission estimates should be considered
indicative only until both operations come into production.
Jervois recognises the importance of Scope 3 emissions andplans to take steps to better understand, quantify and takeaction to reduce these sources, including by identifying lower
carbon alternatives and through collaboration with selectedsuppliers. Jervois’ Supplier Standard explicitly encourages
efforts to reduce GHG emissions and such efforts areintegrated within its draft Climate Action Strategy.

25000
Energy Efficiency

20000
15000

Energy efficiency plays a critical role in reducing ourgreenhouse gas emissions in terms of both direct (Scope 1)
emissions and indirect (Scope 2) emissions.

10000
5000

0
2020

2021
Scope 1

2022

Scope 2At ICO in the U.S. and SMP in Brazil, where construction anddetailed engineering, respectively, were main priorities in
2022, we saw an important opportunity to establish a low
baseline for carbon emissions.
Preliminary carbon footprints based on ICO’s BFS helped
inform early-stage decisions, including related to process
efficiencies, construction, and maintenance programs, among
others. In 2022, given the distance to site and large number ofcontractors, considerable effort was made to reduce vehicle
traffic, including through carpooling to transport workers andcommissioning of the camp to limit travel to site.
At SMP Refinery in Brazil, Scope 1 and 2 emissions were
estimated in early-stage engineering studies of design options
and, since acquisition was complete in mid-2022, continue tobe a priority in decisions for the refinery restart.
Much like Jervois Finland’s power purchase agreement, SMP
and ICO continue to explore options with energy suppliers tosource 100% renewable energy.

Since 2002, JFO has belonged to a national voluntary energy
saving program targeting industry. During previous agreement
periods (2008-2016 and 2017-2019), JFO took action to set,meet and exceed its energy saving targets. All measuresconducted between 2008 and 2019 ultimately reduced carbon
dioxide emissions by nearly 1,500 metric tonnes per year.
Under Finland’s Energy Efficiency Law, an energy audit must be
conducted every 4 years. JFO’s first audit by an external
consultant was undertaken in 2019 and focused on possible
utilisation of residual heat. Resulting action items and internalsurveys and assessments provided the foundation for theenergy saving programs that followed.
In 2020, Jervois Finland renewed its national energy saving
agreement for the period of 2021-25. As part of its
commitments under the agreement, energy efficiency is
integrated within JFO’s management system.
In conjunction with the most recent agreement period 20202025, JFO committed to achieving energy savings of 3.385
GWh. In 2022, 4 energy saving projects were initiated orunderway and, as a result 2020-2022 energy savings were 4.12
GWh. JFO already exceeds the total energy saving target of theagreement period by 21.7%.

392022 Sustainability Report | JERVOIS GLOBAL

Next StepsAs Jervois’ Group-wide Climate Action Strategy advances, asolid suite of tangible actions is emerging. Whether through the
pursuit of clean energy agreements, improvements in process
and operational efficiencies or through partnerships andcollaborations to bolster our climate competence, we arecontinuing to strive to improve.
1.

2.

Critical Path to Net Zero: Through its Carbon
Reduction Roadmap, JFO has already taken essential
steps towards net zero.
Climate-Smart Decision-making: At ICO and SMP,
early-stage carbon footprints have laid thegroundwork for low baselines. Once in-production,
future actions will be supported by LCAs andmechanisms to regularly assess Scope 1 and 2
emissions.

3.

Collaboration for Robust, Harmonised Approach to
LCA’s: Through collaboration with our industry peersin the Cobalt Institute’s (“CI”) Decarbonisation
Working Group, steps are being taken to develop astandardised approach to LCAs in the cobalt industry.
Outcomes are expected to provide clear, broadly
accepted and robust guidance and direction,
including for LCAs by Jervois going forward.

4.

Towards Science-based Targets Initiative: We
recognise the need to rigour in both our LCA’s andrelated emission reduction targets. Within Jervois’
ESG roadmap, we have committed to progress in
2023 and 2024 towards adherence with Sciencebased Targets Initiative.

We are pleased to share more on our actions and performancein accordance with the Task Force on Climate Related Financial
Disclosures (“TCFD”).
Please see Annex 4 for more details.

Carbonreduction
roadmap

LCA's

NET ZERO

40

2022 Sustainability Report | JERVOIS GLOBALThe Circular Economy
The production, consumption and disposal of materials, inputs
and products is believed to contribute a significant share of
global greenhouse gas (“GHG”) emissions. Jervois recognises
that, by contributing to the circular economy, we cancontribute substantially to reducing our GHG emissions while
alleviating pressure on a range of natural resources,
biodiversity and yielding a range of other environmental
benefits.
Jervois commits to supporting the circular economy in a
number of ways. Examples include:▪

▪

Cobalt recycling: Among sources of its feed, JFO
recycles spent cobalt-bearing materials. This is in aclosed loop, wherein cobalt materials used bycustomersarereturnedforregeneration.
Approximately 10-15% of total cobalt produced by
Jervois in Finland is from recycled sources. Jervois isassessing options to expand this part of the business.
Recycling and Reuse of Waste: In Finland, almost 100%of JFO’s non-hazardous wastes were recycled or reused

and the proportion of all wastes going to final disposal
declined from 24.7% to 8.0% between 2020 and 2022.
At ICO in the U.S., the majority of tailings generated will
be pumped back underground for use as paste fill. A
large portion of the waste rock will also be returned
underground for use as cemented rock fill.
▪

Water recycling: JFO’s water is recycled and reused
almost 6 times prior to discharge. ICO’s state-of-the-art
water treatment plant and pump-back system will
reduce the need for borehole extraction and support
reuse in the processing plant while ensuring nocontaminated water leaves the site.

Jervois sees research and development and related
partnerships as playing a pivotal role in identifying newopportunities to support the circular economy (see below).
As detailed in the next sections, our efforts in water and waste
management, biodiversity and conservation, provide greater
insight into the ways in which we aim to support the circular
economy through good practice.

Research and Development for a Low Carbon Future
Research and innovation continue to play a central role in Jervois’ journey towards net zero and efforts to support the circular economy.
Jervois Finland’s R&D program is structured on four pillars:•

Promotion of circular economy: Projects to develop, commission and commercialise recycling of materials.

•

Lower CO2 Product Opportunities: Projects to develop lower carbon footprint applications.

•

Process Efficiency: Optimal utilisation of internal recycling streams (e.g. water, waste) and minimisation of inputs (gases, chemicals,
energy).

•Partnerships and Collaborations. Among these, JFO is engaged in the “Towards Carbon Neutrality Improvement Program”(“TOCANEM”), which brings together Business Finland, Aalto Universities of: LUT, Oulu, VTT and Åbo Akademi, to advanceinnovations related to recycling, reduced greenhouse gas emissions and the circular economy.

Exposure to opportunities in these areas continue to be explored through Jervois’ membership in the U.S. Critical Materials Institute,
the Cobalt Institute, and other networks to which we are linked.

412022 Sustainability Report | JERVOIS GLOBAL

Water Management
Water is essential to mining, refining and chemicals production, and Jervois places significant attention on
robust management practices. Water management aims include minimisation of freshwater consumption;
protection of the quality of local water resources; and mitigation of potential impacts on biodiversity, local
communities and others reliant on affected resources. Increasingly, water management plans must account forpotential effects of changes in the frequency, intensity, duration, and timing of climate change related events.
Throughout the year, water management continued to be
central to our efforts to protect people and the planet at eachof our operations.

In 2022, Jervois Finland recycled water
almost 6 times the amount taken in. In the
U.S., ICO’s state-of-the-art water
treatment plant underwent final testing. At
SMP in Brazil, remediation of pre-Jervois
impacts were a priority from day one.
The following sections highlight aspects of our water
management plans and performance at each of our operations.
Beyond standard approaches to manage the water balance,storage, treatment, and discharge and implement robust
monitoring systems, operation-specific actions were taken to
respond to different local conditions and priorities.

Key Water Statistics: FY 2021-22
JFO, Finland
2021

2022

936,064

886,258

Surface water (m3)936,064

886,258

Groundwater (m3)00Other (m3)004,958,667

5,027,892

Ratio of recycled:withdrawn

5.3:1

5.7:1

Water discharged (m3)936,064

886,258

No. of limit exceedances

00Water quality

00

Water quantity00

Total water withdrawn (m3)

Water recycled (m3)

Water Consumption at JFO by Type (L/kg Co)

Reduced water consumption and increased recycling rates at
Jervois Finland reflects a sustained focus on process
efficiencies. Both ICO in the United States and SMP in Brazil
have prioritised water management well before productioncommenced.

200

At ICO, its state-of-the-art water treatment plant and pumpback system ensures no contaminated water leaves the site.

0

As soon as Jervois concluded its acquisition of SMP in mid-2022
and detailed engineering advanced, Protection of water
resources, including through continued diligence in
implementation of an integrated groundwater remediationand monitoring program, became an immediate priority.
Jervois Finland: Water Recycling Rates on the RiseIn Finland, JFO sources its water via the Kokkola Industrial Park(“KIP”) where the plant is located. KIP has its own water supply
plant, which provides high quality water for JFO and otherindustries in the park. Raw water extracted by KIP for cooling,
domestic and ionic water used by JFO is taken from Lake Öja, asource classified as a low risk. The water balance of the lake isconstant and, if the industrial area did not take water from thelake, it would be sluiced to sea.

150
100
50

2020

2021

De-Ionized

Domestic

2022
Surface

In 2022, JFO’s water consumption increased slightly from theprevious year. Despite this, water is recycled as much as
possible using multiple measures. For example, closed coolingwater systems are used to reduce pure water consumption andwastewater volumes. In 2022, the volume of water recycled
was almost 6 times of that taken in.
Prior to discharge, JFO’s wastewater is treated in its pre- andchemical treatment facility and then sent to Umicore’s
industrial wastewater plant, as per a long-term refinery
capacity sharing agreement. Following treatment, water
quality is well within compliance limits.

42

2022 Sustainability Report | JERVOIS GLOBAL

Jervois Mining USA: Zero Discharge the Aim
In the United States, ICO’s water storage pond has been tested
and proven effective in its capacity to store water collected via
its pump-back system. The system collects drainage fromunderground workings and the Tailings Waste Storage Facility(“TWSF”). The pond also serves to collect water discharged
from the processing plant and snowmelt and precipitation fromcontact areas (e.g. TWSF, run of mine (“ROM”)/crusher pad).
This will be supplemented by freshwater from local boreholes.

In mid-2022 in Brazil, with the completion of the SMP
acquisition, Jervois took steps to build upon the robust
environmental management and monitoring implemented byits predecessor, Companhia Brasileira de Aluminio.

ICO’s state-of-the-art water treatment facility, which wascommissioned in late 2022, acts as an additional safeguard toensure no contaminated water leaves the site.

An integrated soil and groundwater remediation system,
including 25 groundwater pumping wells in key areas, has been
operating onsite since 2006. In accordance with theremediation program settled with the São Paulo State
Environmental Agency (“CETESB”), the main objective is to
reduce cobalt and nickel concentrations in groundwater andprevent contamination of water bodies north of the site.
Pumped water is also returned to the production process forrecovery of cobalt and nickel, enabling their reuse.

ICO has had a robust environmental monitoring program inplace for several years in accordance with all applicableregulatory requirements. This includes monitoring of surface
water quality, groundwater quality, stormwater and erosion
controls, and reclamation and revegetation activities.

Jervois performs on-site and off-site groundwater monitoring
biannually. Data collected on 2022 campaigns are still being
treated and analyzed but 2021 campaigns affirmed the systemis effectively recovering cobalt and nickel and achieving
concentrations below limits set by CETESB.

Throughout 2022, the environmental team was expanded as
ICO construction neared completion. An additional area of
focus was placed on capacity building of the team and theintroduction of digital solutions for robust environmental
monitoring.

Alongside this, progress was made towards establishing acomprehensive environmental and social management system(“ESMS”). Work included benchmarking SMP’s management
systems and procedures against ISO 14001, with plans toadvance progress towards certification in 2023.

Jervois Brasil: Pre-production Focus on Groundwater43

2022 Sustainability Report | JERVOIS GLOBAL

Waste Management
Mining, refining and chemicals production all generate different types of hazardous and nonhazardous waste, each of which have potential to negatively contribute to our environmental
footprint. To mitigate this risk, Jervois’ operations strive to apply best practice and strictly adhere to
regulatory requirements governing our activities.
Our waste management practices are guided by the wastehierarchy. This requires deliberate measures to avoid
unnecessary generation of waste and, if unavoidable, reusing
or recycling waste, where possible. Material recovery, forexample by substituting one form of waste as a substitute forother materials, is preferred to disposal. Sending waste to alandfill is a last resort.

pre-production focus on preparing final engineering for its
paste backfill system for underground tailings disposal was a
priority in 2022. At SMP in Brazil, acquired in mid-2022, a
primary focus has been on laying the foundation – the corepolicies, procedures and processes – as needed to support bestpractice moving forward.

Sending waste to a landfill is a lastresort. Taking steps to reduce, reuse or
recycle waste it critical to our overall
footprint and impact on people and theplanet.
Given considerable differences between our operations, sitespecific management plans, procedures and strategies are
required. Given Jervois Finland’s long operating history, it
continues to make measurable improvements annually on
waste reduction, re-use and recycling. At Jervois Mining USA,
Key Waste Statistics: FY 2021-22
JFO, Finland

ICO, USA

SMP, Brazil

2021

2022

2021

2022

2021

2022

To Landfill (t)

49.8

37.8

-

-

-

-

Recycled or Reused (t)

8.4

3.2

Treated (t)

17.5

11.6

-

-

-

-

To Landfill (t)

0.4

0.4

-

-

-

-

Recycled or Reused (t)

122.5

346.8

-

-

-

-

On-site or other disposal (t)

393.9

363.5

-

-

-

-

Tailings generated (t)

n/a

n/a

-

0

n/a

n/a

Waste Rock generated (t)

n/a

n/a

-

231,654n/an/aWaste recycled/recovered (t)

n/a

n/a

n/a

n/a

717

410

Significant spills

0

0

0

2

0

0

Hazardous Waste

Non-hazardous Waste

442022 Sustainability Report | JERVOIS GLOBAL

Jervois Finland: Recycling and Reuse and Ongoing Priority
In Finland, Jervois Finland is continually implementing newmeasures to reduce, reuse or recycle waste. During 2022,
almost 100% of non-hazardous wastes were recycled or utilisedin another way, mostly as energy. Between 2020 and 2022, theproportion of all wastes going to final disposal and incineration
was reduced from 24.7% to 8.0%.
Recycling & Reuse of Non-Hazardous Waste at JFO
100
80
60
40
20
0
2020
Recycled

Other Use

2021

2022

Incineration

Final Disposal

Improved Waste Utilisation for all Waste Fractions at JFO

100

The majority of tailings at ICO will be pumped backunderground for reuse as paste fill. In 2022, work was done tocomplete final engineering of the system as well as optimise
the paste delivery system from the surface paste plant to theunderground workings. The ICO team successfully permitted an
operational change to drill two paste delivery boreholes fromthe surface to the underground workings. This change
substantially reduces environmental risk by reducing thesurface paste delivery pipeline by nearly 90% and improves
functionality of the system.
In 2022, ICO’s dry stack Tailings Waste Storage Facility(“TWSF”) was independently audited by a third-party
engineering firm during the Phase 1 construction. This audit
was initiated by ICO as part of our benchmarking and alignment
with the Global Industry Standard on Tailings Management.
The TWSF is used to store those tailings not required
underground. It is equipped with a clay lining, HDPE liner andunderdrainage and leakage detection and recovery system toprevent ponding of water and seepage to the subsurface. Any
discharge will be collected in the water storage pond and thensent to ICO’s water treatment plant. The plant, together withthe pump-back system, will ensure no contaminated water
leaves the mine.
In 2022, ICO started the process of benchmarking its facility andrelated management and monitoring plans against the Global
Industry Standard on Tailings Management. Work will continue
in 2023 to complete the benchmarking.

80

60
40

Jervois Brasil: Recovering Cobalt and Nickel from Groundwater

20
0
2020
Recycled

Other Use

2021

2022

Incineration

Final Disposal

Jervois Mining USA: ICO’s Paste Backfill System Takes Shape
Once in production, tailings will represent a main source ofwaste at ICO. Tailings are comprised of the finely groundmaterial that remains after economically valuable metals andminerals have been extracted from ore. Tailings often containresidual metals and chemical reagents used in mineralprocessing. Careful design, construction, management anddecommissioning of tailings storage facilities is critical topreventing and minimising negative environmental impacts.

Jervois prioritized robust environmental due diligence andexecution of related assessments prior to closure of its
acquisition of SMP in mid-2022.
In conjunction with its integrated soil and groundwater
remediation system (detailed on p. 43), SMP continues toprotect nearby waterbodies from a historical legacy ofcontamination while recovering a saleable cobalt and nickel
mixed hydroxide product (“MHP”) from treated groundwater.
The extensive series of groundwater extraction and monitoring
continues to perform effectively and reinforces the ways inwhich remediation and rehabilitation can support the circular
economy. In 2021 and 2022, respectively, the system yielded
approximately 717 and 410 tonnes of MHP.

45

2022 Sustainability Report | JERVOIS GLOBALAir Quality
Eliminating or minimising potentially harmful air emissions and systematic air quality monitoring, including inalignment with our robust industrial hygiene programs, are critical to environmental stewardship and theprotection of human health at our operations.
Air pollutants associated with our operations can include gases
and particulate (fine and coarse dust that may include metals).
Particularly at mining operations, dust generated by vehicle
traffic, dumping rock onto waste piles, crushing, blasting orother activities can impact people and the environment.

As described on page 33, occupational exposure to dust, fumes
and gases are core components of industrial hygiene programsin our operations. Related hazard and risk assessments,
implementation of related controls and biological, air quality
and other monitoring programs are closely integrated.

In 2022, we strengthened interoperation coordination on our
industrial hygiene programs where air
quality is a prominent focus.

Although hazards and risks vary between sites, across ouroperations cobalt, nickel and related elements are key
priorities. We draw upon technical in-house expertise, many ofwhom have longstanding engagement in REACH, MSHA andcomparable programs, to update our knowledge and responseto emerging science and evidence-based solutions.

Jervois Finland: Track Record of Zero Exceedances Continues

Jervois Mining USA: ICO’s focus on Operational ReadinessJervois Finland, a chemical and powder plant in a large
industrial park, monitors air quality at 14 locations according to
the approved monitoring program by an outside accredited
operator. As per the Non-Ferrous Metal (“NFM”) Best Available
Technique Reference Notes (“BREF”) and terms outlined in its
environmental permit, JFO employs the Best Available
Technology (“BAT”) for air emissions management.

Once in operation, one of the main air quality issues at ICO is
expected to relate to dust and fugitive emissions from vehicles.

Jervois Finland’s most significant air emissions are cobalt,
nickel, and acetic acid (“Hac”). In addition to emission limit
values set in the environmental permit, JFO sets additional,
more stringent targets for cobalt. Air emissions are measured
yearly.

During construction and operations, reduced speed limits werein force on and off-site and, in the summer season, use of water
trucks and chemical dust suppressant have been required.
Other engineering controls (e.g. in the plant) will be employed
to minimise emissions. Air quality monitoring plans will be
developed when the mine moves towards production toremain compliant with all air quality standards and permits.

For years, Jervois Finland has not had a single exceedance ofthe limit values and in 2022 JFO’s air emissions were well below
emission limits.

46

2022 Sustainability Report | JERVOIS GLOBAL

Biodiversity & Conservation
Biodiversity refers to the variety and abundance of plant and animal life in a particular habitat. Loss of
biodiversity is a global concern and linked to causes ranging from habitat loss and overexploitation to pollution
and climate change. We believe that protecting and enhancing biodiversity is critical to the resilience of
ecosystems and the services they provide in the areas where we operate.
We recognise biodiversity as a critical component of our efforts
to understand and address environmental impacts, risks andopportunities in our operations and value chains.

In 2022, we continued to pursue
opportunities to enhance biodiversity
and support conservation incollaboration with partners.
Located approximately 2km from JFO’s operations in Finland,
the Rummelön-Harrbådan is part of the EU’s Natura-2000
network of protected areas. An Important Bird Area (“IBA”),
the area is home to species classified as vulnerable (Rednecked phalarope, Phalaropus lobatus) and near-threatened(Ruff, Philomachus pugnax). Adjacent to JFO’s leases, theKokkola sea area is also classified as an IBA, albeit lesssusceptible to species vulnerability.
In response to this, JFO has been collaborating in ongoingwater, air and biodiversity surveys of the area, which indicatedthat its emissions do not significantly impact the environment.
In 2018, JFO participated in a survey that evaluated the impactsof metallic emissions specifically on biodiversity. It was foundthat, while cobalt emissions may impact plants and soilorganisms immediately surrounding the operation, no impact
on these protected areas was found.

species (Grey Wolf, Canada Lynx, Yellow-billed Cuckoo), six
sensitive species (Wolverine, Fisher, Bald Eagle, Northern
Goshawk, Three-toed Woodpecker and the Spotted Frog) andfive special status fish species (Sockeye Salmon, Steelhead, Bull
Trout and Westlope Cutthroat Trout). Although the project’s
Final Environmental Impact Statement (“FEIS”) for the project
did not find indicate any significant effects, continued diligencein efforts to prevent, minimise and manage environmental
impacts on habitats is warranted.
The SCNF holds considerable conservation and biodiversity
value for many of our key stakeholders. ICO is located withinlands traditionally occupied by the Shoshone-Bannock Tribes
and Nez Perce Tribe, whose rights are respectively reserved bytreaties across the region. The area is extensively used byresidents for hunting, fishing, camping and other forms ofrecreation and provides a significant attraction for tourists.
In recognition of this, in 2021, Jervois engaged in a partnershipwith the Idaho Conservation League (“ICL”) to support
conservation and biodiversity in the Upper Salmon River basin.
In 2022, we proudly supported our second year of grants,
described further below.
Among our objectives in 2023, we aim to learn more about
nature-related risks and opportunities associated with ouractivities and ways in which we can improve upon our
biodiversity disclosures, potentially through alignment with the
Task Force on Nature-related Financial Disclosures (“TNFD”).

ICO is located within the Salmon-Challis National Forest(“SCNF”), which is home to three threatened and endangered

Key Biodiversity Statistics: FY 2021-22
JFO, Finland

ICO, USA

2021

2022

2021

2022

Operations located in or near a protectedarea and/or area of high biodiversity value

✔︎

✔︎

✔︎

✔︎

Area disturbed and not yet reclaimed (ha)

3 ha

3 ha

53 ha

57 ha

Area reclaimed (ha)

0

0

0

0

Area of land yet to be reclaimed (ha)

3 ha

3 ha

53 ha

57 ha

Total footprint (ha)

3 ha

3 ha

53 ha

57 ha

47

2022 Sustainability Report | JERVOIS GLOBALThe Upper Salmon Conservation Action Program
In March 2021, Jervois announced it had partnered with the
Idaho Conservation League (“ICL”) to protect and restore fish,
water quality, wildlife habitat, and biodiversity within theUpper Salmon River basin, where Jervois’ ICO is located in
Idaho, United States. Under the innovative and voluntary
partnership, Jervois has contributed US$0.15 million per year
into a dedicated fund for the Program and intends to do soonce ICO is in operations.

•Idaho Department of Fish and Game received US$75,000
towards a larger project in collaboration with the
Salmon-Challis National Forest. The project aims toremove two problematic culverts blocking fish access toan important tributary of the Salmon River, which willallow Endangered Species Act (“ESA”) listed fish species
back into a 10-mile section of prime river habitat.

•

White Clouds Preserve received US$60,000 to expand
ongoing riparian restoration work initially funded by
Jervois in USCAP’s 2021 funding cycle. The nonprofit
manages 432 acres along the East Fork of the Salmon
River, an important habitat for ESA-listed Chinook
salmon, Steelhead and Bull Trout.

•Western Rivers Conservancy received US$15,000 to assist
with the acquisition of a key parcel of land along Panther
Creek, a major tributary of the Salmon River. This is on
top of the US$30,000 donated for 2021, again also forland acquisition along Panther Creek.

Jervois aims to improve the health of this vital watershed andinform USCAP priorities through ongoing dialogue with the
Shoshone-Bannock Tribes and Nez Perce Tribe, whose rights
are respectively reserved by treaties across the region, andlocal, state and federal agencies.
Projects funded in 2022 build upon positive achievements in
2021, which strongly emphasised conservation and restorationof habitats essential to the recovery of Endangered Species Act
listed fish species. In 2022, three proposals were selected froma competitive pool of applicants.

48

2022 Sustainability Report | JERVOIS GLOBAL

2023 Targets and Planned Actions
Jervois Global

Idaho Cobalt Operations, United States▪

Zero significant environmental incidents.

▪

Advance the process towards ISO 14001 certification.

▪

Finalise Group-wide Climate Action Strategy.

▪

▪

Improve alignment with TCFD and take steps to alignwith TNFD.

Embed digital solutions for environmental incident
and risk management, environmental monitoring.

▪

Complete benchmark against the Global Industry
Standard on Tailings Management.

Jervois Finland, Finland▪

100% of days within wastewater limits for Co + Ni.

▪

100% of days within discharge volume limits.

▪

100% of days within air emission limits for Co + Ni.

▪

Reduce energy consumption by 3.385 GWh between
2020 and 2025.

São Miguel Paulista, Brazil▪

Initiate process to align with ISO 14001 requirements.

▪

Adopt digital solutions for environmental incident andrisk management, environmental monitoring.

▪

Effective implementation of integrated soil andgroundwater remediation system.

49

2022 Sustainability Report | JERVOIS GLOBAL

SocialWe treat others and ourselves with dignity and respect, we create a diverse,
inclusive and supportive work environment and we work towards creating
positive economic and social outcomes in communities where we operate. These
principles provide the foundation for our efforts to develop and sustain valued,
meaningful relationships with our host communities, workforce and otherstakeholders.

502022 Sustainability Report | JERVOIS GLOBAL

Our Approach
We strive to create value for our stakeholders that multiplies beyond our direct contributions and endures
beyond the life of our operations.
We directly add value through our contributions togovernment through taxes, mandatory fees and royalties aswell as through local employment and purchase of local goods
and services. Indirectly, our investments in infrastructure,
education, training, health, social welfare, and conservation,
among other priorities, support the fundamental building
blocks of sustainable development.

We recognise that how we do things
is as important, if not more so, thanwhat we do. This principle isfundamental to creating the culture
we are striving to embed across
Jervois.
Despite our best intentions, our activities can have a significant
social and environmental footprint and may pose risks of
causing or contributing to adverse impacts. This can potentially
include through the very efforts that mean to mitigate suchrisks, such as community projects that fail to consider thevalues and priorities of the stakeholders we aim to benefit.
The quality of our relationships with our stakeholders, inparticular our workforce, contractors and communities aroundour operations, is therefore vital to how and whether we
identify and effectively manage risks and capitalise onopportunities to create tangible value.
Our approach to incident management plays an important rolein this process. As with other types of incidents, any significant
labour, human rights, social and governance incidents are
addressed by operational leadership, followed by Jervois’ CEO,the Group Manager - ESG and others in senior management. If
deemed high risk, these are also shared via the CEO to Directorsof the Company. These incidents, results of their investigations
and status of corrective actions, together with the status of
stakeholder engagement processes and other areas ofprogress, are reviewed in bi-monthly meetings of the ESG andCompliance Committee.

Stakeholder Engagement
Jervois firmly believes that our success hinges on the quality of
our relationships with our workforce, people in thecommunities and countries where we operate, the naturalenvironment, and our customers, shareholders and partners.
Beyond the need to ensure and sustain broad acceptance forour projects, we recognise the value of open, two-way
communication in enhancing our understanding of local
priorities and concerns, improving our cultural sensitivity andidentifying unforeseen risks of adverse impacts as early as
possible. These and the many other benefits of meaningful
stakeholder engagement help us to more effectively pre-empt
and mitigate risks and optimise outcomes.
In 2022, Jervois took steps to deepen its approach to
stakeholder engagement and formalise related strategies,
particular within our workforce and with our suppliers andcommunities around our operations. This ranges from efforts
to increase contractor capacity and accountability to create
safer working conditions (pp. 30-33) to collaborating with local
stakeholders to inform our approach to community
investments (pp. 58-59) to our whistleblower process andgrievance mechanisms (p. 52), among other efforts.
In terms of community engagement, efforts are advancing inaccordance with the respective phases of operations. As
construction ramps up towards commissioning at ICO,
employment and procurement efforts aimed to increase local
awareness and enhance benefits in project affected
communities, including through job fairs, radio shows, town
halls and other efforts. This was supported by heightened
engagement with a broad range of stakeholders to develop a
Community Benefits Agreement (“CBA”). The stakeholder
engagement process at ICO catalysed a process to formalise
community engagement strategies at Jervois Finland and SMP.
See page 58-59 for more details.
Responsibility for engaging with stakeholder groups is sharedby persons in a broad range of functions, from leadership andoperations management, through to those engaged in humanresources, environment, occupational safety and health andother roles.

51

2022 Sustainability Report | JERVOIS GLOBAL

Bolstering our Whistleblower and Grievance Mechanisms
Providing mechanisms for our employees, suppliers, community stakeholders and others to report concerns, complaints or known orsuspected incidences of misconduct plays a critical role in helping us to identify and address a broad range of human rights,
environmental, operational and other risks in our business and supply chains.
Jervois provides for this through the following:•

Whistleblower Mechanism: Our groupwide whistleblower mechanism enables reporting of potential misconduct tomanagement. The process outlines requirements for receiving, investigating, and responding to reports in accordance withthe stated protections for whistleblowers. Reports can be lodged anonymously and, as an alternative to legal counsel, to any
Director, Secretary, senior manager, or external auditor. More details can be found at www.jervoisglobal.com/company/
corporate-governance/.

•

Responsible Minerals Initiative (“RMI”) Online Grievance Mechanism: In-line with our commitment to responsible mineralsourcing, Jervois Finland Oy and RMI welcomes the submission of grievances as part of our continuous improvement and risk
management program. A link to the online mechanism can be found at: www.jervoisfinland.com/sustainability/.

•

Operations-level Internal and External Grievance Mechanisms. Separate mechanisms for (i) employees and suppliers; and (ii)community and other stakeholders are in place at JFO and ICO and are in development at SMP. Procedures outline the process,protections and responsibilities for reporting, investigation and response/remediation while providing for anonymity andsupporting timely mitigation.

Jervois’ Supplier Standard requires our suppliers ensure a procedure is in place to enable employees and/or subcontractors and others
to freely bring issues, concerns, or complaints to the Supplier’s management without fear of intimidation, retaliation, or reprisal,
including any issues related to implementation of the Standard. Contractors, subcontractors, and other workers are similarly encouraged
to utilise Jervois’ grievance mechanism to report concerns or complaints.
In 2022, In total, 12 grievances were received from employees, contractors or other supervised workers. Of these cases, 100% wereresolved with time to close each case average from 5 days at ICO and within 1 month at Jervois Finland. Zero reports of human rightsrelated misconduct were reported via the above mechanisms.
In 2022, we embarked on a process to assess, harmonise and bolster our whistleblower and grievance mechanisms across the Group.
This included:▪

Convening a committee comprised of key persons from Corporate Management and HR and ESG professionals from each of
our operations to develop our approach, build internal capacity and agree upon modalities of governance.

▪

Completion of a review of existing grievance mechanisms with the aim of developing a harmonised standard and improving
accessibility, including to persons from vulnerable groups.

▪

Contracting of People InTouch to support this process through introduction of a confidential, multilingual online and hotline
based SpeakUp Programme. With plans to launch our SpeakUp program in 2023, we will be better positioned to identify andrespond to a broad range of stakeholder concerns and incidents of non-compliance while providing a means to more
systematically provide remedy, where warranted.

We see an improved grievance mechanism as critical to our ability to become an employer of choice for all, foster diversity, strengthen
relationships with communities, maintain compliance and mitigate human rights and other risks in our business and supply chain.
Please see our 2022 Modern Slavery Statement for more details on this and other aspects of our expanding approach to human rights
and environmental due diligence.

522022 Sustainability Report | JERVOIS GLOBAL

Our PerformanceOur 2022 targets aimed to support continuous improvement on issues ranging from increasing ourcontributions vis-à-vis local employment and procurement to formalising our approach to community
engagement to embedding human rights as a cross-cutting priority across the Group.
▪

Performance highlights in 2022 include:▪

▪

Human Rights Risks: In 2022, we incurred zerosignificant incidents related to human rights. Since
adoption of our Human Rights Policy, we took steps tobuild understanding of related risks and due diligencein a range of areas from human resources andprocurement to community engagement (p. 27).

In subsequent sections, we provide more details about ourapproach and performance in critical areas: our workforce andcontractors and our host communities.

Enhancing community benefits: We significantly
increased our focus on local jobs and procurement
opportunities, diversity and inclusion and formalisationof engagement strategies across the Group. Among
highlights, the CBA at ICO is in its final phases.

Performance Against 2022 Social Targets

Embedding our Supplier Standard: Building upon our
2021 actions to contractually require compliance with
our Code of Ethics and Business Conduct, we tookfurther steps to reinforce expectations for ethical andresponsible practices through onboarding and ongoingengagement.

Achieved

In Progress/Ongoing

StatusNot achieved/not started

Comments

Jervois Global
Zero significant disputes with workforce, local
communities and Indigenous Peoples.

Achieved.

Increase total spend on local procurement.

Across our Group, proportion of spend on national
suppliers ranges between 39% and 63%. Harmonization of
methodology underway to provide definitive definitions

Increase number of hours of training related to antiharassment, bullying and other human rights issues.

Training integrated in onboarding but room for
improvement via focused training modules.

Finalise preparation of 2 Community Engagement
Strategies and 1 Community Development
Agreement.

ICO Community Benefits Agreement near finalisation.
Processes to formalise engagement strategies at JFO and
SMP underway.

Increase total spend on community investments.

Across our Group, our expenditure on community
investments increased by 11% between 2021-22.

Increase coordination and cooperation between
ESG at our operations-level to identify andharmonise best practice.

Achieved and ongoing. Inter-operation links via working
groups or convenings on topics ranging from diversity andinclusion, responsible supply chains, industrial hygiene andother topics.

Finalise and embed harmonised Risk Register
Standard.

All operations have robust risk registers and risk
management processes in place. In 2023, this will be
reinforced through stronger integration of human rights
risks.

Identify entry points to address human rights risks.

Process initiated (p. 27). Plans in 2023 to further embedhuman rights risks in risk management processes, diversity
and inclusion strategies and supply chain due diligence.

Benchmark against industry ESG standard.

Assessment of industry standards is ongoing.

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2022 Sustainability Report | JERVOIS GLOBAL

Our Workforce
We believe that to become an employer of choice, we must actively invest in employees’ education and training
to advance their careers and take deliberate action to create safe and welcoming working environments. To
attract and retain a workforce that reflects the diversity of communities where we work, we must work tocreate a culture that reflects our core principles and rewards ethical conduct.

Workforce Composition
At the end of 2022, permanent employees totalled 312. This
included 193 at Jervois Finland, 67 at ICO in the U.S., 34 at SMP
in Brazil and others at corporate and sales offices in Australia,
Switzerland, U.S., Japan, Germany and China.
Leadership and Workforce by Gender (2021-22)0respectively. The local proportion of our workforce also
declined from 90% to 61% (largely due to a revised definitionof “local” at ICO).
Workforce
Composition by Age

Local relative to Total
Employment in our Operations

20 40 60 80 100 120 140

Board of Directors
Senior & Executive
Management
Less than 30 yrs

Management

Over 50 yrs

Professional
Operations

Throughout 2022, we nevertheless implemented multiple
strategies to recruit locally and from groups under-represented
in the sector, including women. Particularly at ICO, which saw
significant workforce growth, the competitive job market in the
U.S. and remote location being key factors.

Other
2021
Men

Local
Non-Local

30-50 yrs

2022
Women

Men

Women

In 2022, women held 37% of management and professional
positions at operations level and constituted 20% of the overall
workforce, marking a slight decline from 44% and 23%,

Learn more about our efforts to promote diversity, equity andinclusion (“DEI”) on page 57.

Key Workforce Statistics: FY 2021-22
JFO, Finland

ICO, USA

SMP, Brazil

2021

2022

2021

2022

2021

2022

Local workforce (% of total)1

94%

93%

54%

46%

-

-

Women in workforce

22%

23%

29%

9%

-

24%

Total employee turnover

8.7%

7.8%

25.8%

31%

-

0%

% of workforce trained

-

99%

-

86%

Ave. training hours pp

12.8

18.9

-

-

-

-

Women:Men salary ratio2

0.93:1

0.94:1-

0.68:1-

1.01:1

Entry level:minimum wage ratio

>1:1

>1:1

-

>3.5:1->1:1

No. of strikes or disputes

0

0

0

0

0

0

-

1.

“Local” defined at JFO and SMP as the immediately surrounding community. ICO changed its definition from Idaho State in 2021 to within 50km in 2022.

2.

Base salary of workers and professionals are determined by the job position. Salary is not affected by gender. Differences arise depending on position and time at the company.

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2022 Sustainability Report | JERVOIS GLOBAL

Retention, Training and Development
The following metrics provide insight into our capacity to
attract and retain employees from a diverse pool of candidates:
Employee Turnover:To provide insight into workforce dynamics, we track employee
turnover, including voluntary resignations, involuntary layoffs,
and retirements. In 2022, 21 men and 3 women voluntarily
resigned and 1 man and 4 women were involuntarily
terminated. The 2022 turnover rate across the Group was
10.1%, a slight increase from 10.0% in 2021.
Training:
Jervois Finland has well-established training systems for
induction and refresher training and specialised training byfunction, among others. In 2022, each employee received, on
average, 18.1 hours of training, with hours totalling 3,949
across the year. This marked an increase in training time of 55%
over the previous year. Main priorities included OSH,
environmental management and labour rights. Bullying andharassment were also integrated within onboarding.
As construction advanced towards production, ICO drastically
expanded its workforce and focus on training. Covering topics
concerning ethical conduct, OHS, environmental management,
100% of the workforce received training during onboarding.
ICO is working towards tracking training hours andexpenditures in 2023.
Staffing and recruitment at SMP in Brazil was a priority as the
project moved into the construction phase. Onboarding
materials are in the final phases of preparation, again with astrong focus on our Code of Ethics and Business Conduct, OHS
and environmental management.

Personal Development:
Support for development of individuals working with Jervois
plays a critical role in nurturing and retaining talent. Both
Jervois Finland and ICO provide support to employees vis-à-vis
internal training courses, funding support for external trainingor education and retraining for those retiring who intend tocontinue working. JFO additionally provides for sabbatical
periods with guaranteed return to employment and assistanceto retirees in transitioning to a non-working life. SMP iscurrently reviewing its personal development program as it
moves towards recruitment in 2023.
Recruitment Pipeline:
Jervois Finland has strong links to universities in Finland,
including through joint research (p. 41). For several years, it has
annually operated a large program to train and expose student
interns and summer students to their activities. Several havesubsequently joined the JFO workforce.
ICO similarly has relationships with a number of universities in
the U.S. and is exploring opportunities for student research andsummer students. Given the scale of hiring and job market, in
2022, considerable efforts were made locally and across theregion to increase awareness of the opportunities and benefitsof working with the company.
Through development of its stakeholder engagement strategy
and in advance of recruitment to support restart of operations,
SMP has begun to map and reach out to universities, technicalinstitutes and local government and non-profit organisations
supporting employment of traditionally marginalised personsin São Miguel. Diversity and local employment figure
prominently.

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2022 Sustainability Report | JERVOIS GLOBAL

Remuneration and Benefits
Remuneration
Jervois is committed to providing a fair living wage to all
employees that is above the local minimum in areas where ouroperations are located. No employees at JFO and ICO are paid
on a minimum wage basis, with average entry level wages at
JFO well over double the minimum wage rate and ICO morethan triple.
Pay equity is an important factor in bridging the gender gap in
our workforce. Across our operations, the average ratio of
women’s to men’s wages averaged 0.89. The ratio at each
operation was 0.94 (JFO), 0.68 (ICO) and 1.01 (SMP).
Benefits
Full-time employees at both JFO and ICO receive life insurance,
health care, disability coverage, and maternity and paternity
leave. ICO additionally provides for retirement benefits for all
employees and JFO offers a retirement incentive scheme formanagers. JFO supports sports benefits and profit-sharing
bonus payments.

Labour Relations
Jervois respects the right of employees to collective bargaining.
Our employees in the U.S. have thus far chosen not to do so.
In Finland, JFO entered into three new collective bargaining
agreements with the Professionals Union, Chemical Workers
Union and Senior Professionals Union. At JFO, workers
committees comprised of union representatives regularly meetwith management, providing a means to channel and address
grievances and concerns and share information.
In Brazil, SMP initiated the process of engaging with theExtractive Industries Workers Union of the state of São Paulo(“FETIESP”) with the aim of entering into a collective bargaining
agreement.
In 2022, Jervois incurred no strikes or disputes.

Both JFO and ICO have in place operational policies forharassment and related misbehaviour, which is integrated
within their respective workforce training programs. SMP is in
the process of developing related policies and onboarding
materials for its workforce.

Jervois recognises that creating asafe, welcoming and supportive
working environment is critical toemployee satisfaction and reinforces
our efforts to promote diversity
within our workforce.
Employee Feedback and Grievances
Providing employees with a formal channel to voice concerns,
lodge complaints and seek redress for any injustice in theworkplace is critical for both employees and the company.
Jervois grievance mechanism can help provide remedy where
we may have caused or contributed to a negative impact andcan provide early warning signs of potential risks or problems
before they escalate.
In 2022, we embarked on a process to assess, harmonise andbolster our whistleblower and grievance mechanisms acrossthe Group. Among actions taken, we contracted People
InTouch to support this through introduction of a confidential,
multilingual online and hotline based SpeakUp Programme
across the Group. Learn more about our efforts on page 52..
In 2022, we receive zero reports of human rights related
grievances including those related to bullying, harassment,
discrimination or other forms of violence. Despite this, othermechanisms are often needed to identify these risks and, in theevent they are suspected or discovered, act to address them.
Employee Surveys

Working Environment
Harassment and/or Sexual Harassment Policies
Jervois Code of Ethics and Business Conduct includes strict
provisions concerning anti-bullying, harassment and any
physical, sexual, verbal or non-verbal form of violence of
intimidation. The Code provides the foundation for Ethics andCompliance Training and informs underlying operational
policies and standards. This is further reaffirmed through our
Human Rights Policy and Supplier Standard.

Group-wide surveys can, together with other policies andmechanisms, be useful tools to assess inclusivity, employee
satisfaction and other factors that reflect the quality of ourefforts to create a positive working environment.
Surveys on issues including bullying and harassment have been
carried out at JFO in the past and development of a tool toassess diversity and inclusion at SMP is currently underway. A
number of Group-wide surveys are planned in 2023 to help us
assess our performance and areas for improvement.

562022 Sustainability Report | JERVOIS GLOBAL

Diversity, Equity and Inclusion
Jervois believes in the power of a diverse workforce and truly inclusive working conditions. Benefits manifest in a number of ways, fromincreased productivity and improved operational efficiency to better access to finance to stronger community relations and reduced risk
and greater resilience to shocks. We further recognise the private sector’s role inchallenging historically rooted inequalities and cultural biases in areas where we
operate.
Jervois’ commitment to Diversity, Equity and Inclusion (“DEI”) fully aligns with ourcore values and principles and are reflected in our Code of Ethics and BusinessConduct as well as our Sustainability, Human Rights and Diversity policies. DEI is
also integrated within our Supplier Standard, which outlines expectations for ourcontractors, consultants and other goods and service providers, as well as ourpolicy to “Hire Local, Buy Local”, wherever practicable.
The tone from the top is strong. Throughout 2022, following a directive from our
Board and CEO, Jervois initiated multiple efforts to advance DEI at all levels.
Jervois’ is currently working to formalise a Group-wide DEI framework as needed
to ensure our leadership and workforce is diverse, including with respect togender, and we become an employer of choice by fostering an inclusive culture forall.

Monitor,Evaluate &Review

EnlistLeadership

Embed &
Communicate

Define Main
Goal

Identify &Implement
Actions andStrategies

BenchmarkCurrent
StatusIdentify
Priorities &Targets

Pillars of Jervois’ Diversity, Equity &Inclusion Framework

To advance progress, a DEI Working Group was formed, comprised of Executive Management, which guides related strategy
development and implementation. To support both vertical and lateral integration of DEI across our Group, an inter-operationcommittee, comprised of heads of each of our operations and function leads from HR, EHS and community engagement, runs in parallelto the DEI Working Group to advance change at all levels.
As staffing ramped up at ICO, in particular, numerous actions were taken including through local job fairs in collaboration with ourcontractors, inclusivity reviews of job descriptions, introduction of flexible work schemes and reviews of alternative rotation andshiftwork models aiming to attract a diverse pool of candidates. At SMP, critical steps were taken to develop a comprehensive DEI
framework. With significant recruitment expected, attention is geared toward reaching out to underprivileged groups and toorganisations representing and/or working with them. HR and ESG teams are collaborating to identify local leaders and organisations
that could support us conveying our message and disseminating our opportunities among marginalised groups.
At the highest level, our CEO and select members of Executive Management embarked on a process to identify diverse candidates
globally to join our Board. In November 2022, Jervois proudly welcomed Dr. Daniela Chimisso dos Santos, a leading global mining andsustainability expert, as Non-Executive Director.
We look forward to profiling our efforts throughout 2023 as we continue to advance and embed our DEI Roadmap across ourorganisation. Among planned actions, we will be conducting a review of succession plans, with the aim of progressively improving thediversity of our leadership at all levels in the years to come.

57

2022 Sustainability Report | JERVOIS GLOBAL

Our Host Communities
Jervois commits to creating tangible socio-economic benefits in communities where we operate throughstrategies to help respond to development priorities and increase local opportunities for employment,
procurement of goods and services and research, training and skills development.

Local Hiring and Procurement
All Jervois operations commit to supporting local procurement
and employment wherever possible.
During 2022, 93% and 46% of the workforce was local at Jervois
Finland and ICO, respectively. In 2022, ICO revised its definitionof “local” from Idaho State to include within 50km of theoperation. For ICO where construction was underway, multiple
contractors and subcontractors were sourced from Idaho Statebut labour shortages and limited availability of appropriately
skilled labour in local communities posed challenges.
Supporting local economic development was a cross-cutting
priority in 2022. At JFO, ~39% of procurement spend was in the
Kokkola region, at ICO ~43% was from Idaho State entities andin Brazil, over 60% was sourced nationally.
In order to improve our local content outcomes, strategies arenecessarily linked with our community engagement efforts. At
ICO, the process to develop a Community Benefits Agreement(“CBA”) reinforced our relationships with and exposure todiverse groups in the community, likely playing a role inrecruitment related efforts, such as local job fairs.

At SMP the stakeholder mapping process and related
consultations are strongly intertwined with human resource
strategies to hire and procure locally and from diverse,
marginalised groups.

Community Engagement
Fostering strong, positive relationships with communities,
governments, Indigenous Peoples, and the environment
continues to be one of our highest priorities.
In terms of community engagement, efforts are advancing inaccordance with the respective phases of operations.
ICO’s CBA in Final Stages
As construction progressed at ICO, employment andprocurement efforts aimed to increase local awareness andenhance benefits in project affected communities, including
through job fairs, radio shows, town halls and other efforts.
This was supported by heightened engagement with local
government, non-profit organisations, a range of community
groups and other stakeholders in conjunction with ICO’s
development of its CBA.

Key Social and Community Statistics: FY 2021-22
JFO, Finland

ICO, USA

SMP, Brazil

2021

2022

2021

2022

2021

2022

Local workforce (% of total)*

94%

93%

54%

46%

-

-

% increase in proportion of
procurement to local suppliers-

Baselineestablished-

Baselineestablished-

Baselineestablished

No. of disputes with
communities and/orIndigenous Peoples

0

0

0

0

-

0

Community Engagement
Strategy Implemented-Indevelopment-

CBA nearcompletion

Community Investment
Programs in place

Yes

Yes

Yes

Yes

In
development-

In
development* “Local” defined at JFO and SMP as the immediately surrounding community. ICO changed its defiinition from Idaho State in 2021 to within 50km in 2022.

58

2022 Sustainability Report | JERVOIS GLOBAL

After concentrated efforts to identify and understand local
priorities throughout 2022, the CBA is now in its final phases
and will be framed on four key community-and employee-led
pillars with strong consideration of ICO’s post-mining legacy ofdevelopment contributions.
Formalisation of Community Engagement Strategies
The CBA process at ICO catalysed efforts to formalise
community engagement strategies at all our operations. These
strategies comprise an important component of our broader
Stakeholder Engagement Strategies but are more specific in ouraims.
Main objectives include to:1.

Foster strong, trusting and valued relationships withdiverse groups in host communities and establish open
lines of communication.

2.

Increase ourdevelopment.

3.

Improve upon our diversity and inclusion outcomes, withemphasis on under-represented and marginialised
groups in host communities.

4.

Ensure our community investments respond to local
priorities, including in education and support forvulnerable groups and children, among others.

5.

Support identification and effective management of abroad range of risks.

contributions

to

local

economic

Jervois Finland is wholly integrated within the social fabric of
the city of Kokkola and engagement with local authorities andthe community is ongoing. Joint environmental monitoringwith local universities and/or private sector partners are in-linewith the value that the local community places ofenvironmental protection. Efforts have ranged fromcollaborations on water, air and biodiversity surveys focusedon biodiversity and protection of the near-shore area of the sea
to joint groundwater monitoring programs. The BFS for
expansion was initiated in 2022, and prompted additional
efforts to coordinate with other companies that were also
aiming to expand at the Kokkola Industrial Park. Alongside this,JFO began to explore opportunities to strengthen its
recruitment approaches in terms of local content and diversity.
Throughout 2022, in conjunction with the CBA process, ICO
amplified efforts in partnership with local non-governmentalorganisations to engage community leaders and a broad rangeof community groups via a number of mechanisms. This
included in-person meetings, participation in town halls andcouncil meetings, small group dialogues and efforts to share
information via radio and other media. Jervois leadership held
multiple in-person and online meetings with Idaho State
officials as a means to brief them on our progress and shareefforts concerning our work in local communities.
These efforts were reinforced through a Community
Roundtable between Jervois’ Board and representatives of
local government and key community groups. Held during theweek of ICO’s Official Opening in October 2022, the Roundtablereaffirmed Jervois’ commitment and provided further insight
into ways in which the CBA could support local development
throughout operations and beyond the life of the mine.
ICO is located on lands traditionally occupied by the ShoshoneBannock Tribes and Nez Perce Tribe, whose rights arerespectively reserved by treaties across the region. We
recognise and pay respect to the Tribes and their rights,
cultures, interests and aspirations. Building a meaningful,trusting and enduring relationships with the Tribes continues
to be an ongoing priority.
In 2022, SMP in Brazil substantially increased outreach to
government officials, private sector organisations and othergroups. In efforts to strengthen relationships with thecommunity immediately around the refinery. Upon
recruitment of a dedicated ESG and Compliance Officer, efforts
to undertake a structured stakeholder mapping process anddevelop a formal community engagement plan have rapidly
advanced.
At each of our operations, responsibility for engaging with local
stakeholder groups is shared by persons in a broad range offunctions, from leadership and operations management,
through to those engaged in human resources, environment,
occupational safety and health and other roles.

592022 Sustainability Report | JERVOIS GLOBAL

Community Investments
JFO and ICO provide donations and support to community
priorities. Both have procedures in place to receive, assess andrespond to requests from the community. In 2022, community

investments ranged from education and scholarships to
support for low-income, vulnerable families to recreational
activities for children, among others.

Distribution of 2022 Community Investments*

ECONOMICDEVELOPMENT &INFRASTRUCTUREEDUCATION,
SPORTS &CULTUREHEALTH &WELLNESS

7%

88%

5%

*Excludes US$150,000 per annum grants to conservation and biodiversity projects at ICO (see p.48))2023 Targets and Planned Actions
Jervois Global:▪

Zero unresolved significant disputes with workforce,
local communities and Indigenous Peoples.

▪

Develop Group-wide Diversity and Inclusion Standard.

▪

Increase proportion of total procurement spend on
local suppliers of goods and services▪

Increase number of hours of training related to antiharassment, bullying and other human rights issues▪

Integrate human rights within risk management
frameworks; employment, procurement and humanresources policies and procedures; and community
engagement strategies.

▪

Benchmark against industry ESG standard.

60

2022 Sustainability Report | JERVOIS GLOBAL

Annexes61

2022 Sustainability Report | JERVOIS GLOBAL

Annex 1:Key Stakeholder Groups

As detailed throughout this report, the quality of ourrelationships with our stakeholders is a critical determinant ofour positive impact on people and the planet and a measure of
our success.

Group
Workforce

Learn more about our approach to stakeholder engagement
throughout this report and the ways in which we are striving to
improve our responsiveness to stakeholder priorities.

Key Priorities, Concerns and Issues• Compensation and professional development• Health and safety• Working environment and culture

Engagement and other Strategies
Team and one-on-one meetings; written and verbal
queries or concerns including via internal grievancemechanism; and (at JFO) engagement with Union
workers committees.

• Workers’ engagement and grievance processes

Communities• Employment, local business and upskilling

Dialogues, meetings and town halls; written andverbal queries or concerns including via externalgrievance mechanisms; media reports;• Community services and community investment
environmental and social impact assessments; local• Water resources and conservation
development plans; participation in local cultural• Impacts on local infrastructure, housing and services events; agreements and collaborations.
opportunities

Non-governmental
and Civil Society
Organizations(NGOS & CSOs)• Conservation, biodiversity, climate change andenvironmental protection• Human, labour and indigenous rights• Local economic and community development

Meetings; participation in workshop andconferences; written and verbal queries or concerns
including via external grievance mechanism;
published reports; media, partnerships andcollaborations.

• Ethical business conduct and transparency

Government andRegulators• Employment, local economy and services• Taxes• Compliance

Academia• Climate change• Tailings, waste and water management• Energy efficiency

Regular dialogue through site, regional and national
meetings; site visits; written communications,
government assessments and reports; media
reports.
Participation in conferences and workshops;
meetings and dialogues; written and verbal
communications; media reports; working groups,
partnerships and collaborations.

• Technology and innovation

Contractors andSuppliers• Local contracting and sourcing• Compensation• Health, safety and working conditions

Onboarding, team and one-on-one meetings;
written and verbal queries or concerns including via
grievance mechanisms; monitoring, oversight andfeedback.

• Contractual obligations

Customers• Supply continuity• Supply chain due diligence

Active and regular communications; site visits;
participation in conferences and forums.

• Carbon footprint• Ethical business conduct

Investors• Disciplined capital allocation• Operational and financial performance and risks• Market supply and demand

Meetings. Participation in industry conferences,forums and one-to-one events; Institutional
investor reports; written communications; quarterly
investor presentations.

• ESG performance: climate change, tailings

management, responsible sourcing

622022 Sustainability Report | JERVOIS GLOBAL

Annex 2:

Referenced SASB Standard

As outlined in the following tables, Jervois has taken steps towards transparently reporting our sustainability performance with anemphasis on issues that matter most to our business and stakeholders. Importantly, we have begun to reference key aspects of the
Sustainability Accounting Standards Board (SASB) Metals and Mining Standard (Dec. 2021) and Global Reporting Initiative (GRI)
standards (Annex 3) as well as the Task Force on Climate-related Financial Disclosures (TCFD) (Annex 4).
The following provides disclosures on ESG topics considered to be material (page 15). With the exception of corporate level information,
due to the current phases of development of Jervois’ projects throughout 2022 – JFO in Finland in production, ICO in the United States
under construction and finalization of the BFS and advanced engineering at SMP in Brazil - the boundaries for the data are constrainedby availability (and materiality) of data at respective operations. Other than corporate level data and information, the boundary is mainly
limited to Jervois Finland and, where data is available and material, ICO and SMP, as specified below.
Table A1-1. SASB Referenced Content Index (2022)
Standard Referenced and Disclosure

Response

Greenhouse Gas Emissions
EM-MM-110a.1(1) Gross global Scope 1 emissions(2) Percentage covered underemissions-limiting regulations(1) 2022: JFO: 6,168.8 t CO2e
2021: JFO: 7,052.3 t CO2e(Pre-production GHG assessments for ICO and SMP
provided in Annex 3: TCFD disclosure)(2) 0%.

EM-MM-110a.2

Discussion of long-term and short-term
strategy or plan to manage Scope 1
emissions, emissions reduction targets,and an analysis of performance against
those targets

Pages 38-41 outline strategies, including those related toincreased energy efficiency and increased contributions to thecircular economy.

Air emissions of the following:(1) CO(2) NOx (excluding N2O)
(3) SOx(4) particulate matter (PM10)(5) mercury (Hg)(6) lead (Pb)
(7) volatile organic compounds (VOCs)

This information is currently unavailable and we are notobligated to monitor these emissions under current regulatory
requirements. We will evaluate future inclusion in ourenvironmental monitoring programs.

(1) Total energy consumed(2) Percentage grid electricity(3) Percentage renewable(1) JFO: 2021: 157,298 GJ
2022: 147,307 GJ(2) JFO: 2021: 64.4%; 2022: 66.20%(3) JFO: 2021: 14.8%
2022: 15.2%(based on 23% of grid energy renewable)

EMM-MM-140a.1(1) Total fresh water withdrawn,(2) total fresh water consumed,
percentage of each in regions with Highor Extremely High Baseline Water Stress(1) JFO: 2021: 936,064 m3
2022: 886,258 m3(0% from high water stress source)(2) JFO: 0%886,258 m3 is ultimately returned to Gulf of Bothnia in theBaltic Sea following treatment. JFO sources water from Kokkola
Industrial Park, whose water supply plant extracts water fromfrom Lake Öja, a low risk source with a constant water balance(due to industrial withdrawals). In the absence of industrial
withdrawals, excess water would be sluiced to the Baltic Sea(same receiving water body).

EMM-MM-140a.2

Number of incidents of non-complianceassociated with water quality permits,standards, and regulations

JFO, SMP:
2021: Zero.
2022: Zero.
ICO:
2021: Zero
2022: Two reportable
incidents, immediately addressed (no penalties incurred).

Additional details provided in Annex 3: TCFD Disclosure.

Air Quality
EM-MM-120a.1

Energy Management
EMM-MM-130a.1

Water Management632022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Response

Waste & Hazardous Materials Management
EMM-MM-150a.4

Total weight of non-mineral waste
generated

JFO:

2021

2022

Non-Hazardous Waste Sent to a Landfill (t)

0.4

0.4

0.4

Non-Hazardous Waste Recycled /Reused (t)

122.5

346.8

122.5

Non-Hazardous Waste On-site Disposal (t)

0.0

0.0

0.0

Non-Hazardous Waste Other Disposal (t)

393.9

363.5

393.9

Used Oil Sent Off-Site (t)

2.6

1.7

2.6

Used Oil Stored On-site (t):

0.0

0.0

0.0

Total:

519.4

712.4

519.4 t

EMM-MM-150a.5

Total weight of tailings produced

ICO: No tailings produced in 2021 and 2022.

EMM-MM-150a.6

Total weight of waste rock generated

ICO: 2022: 231,654 t waste rock; 95,674 t overburden.

EMM-MM-150a.7

Total weight of hazardous waste
generated

JFO:

2021

2022

Hazardous Waste Sent to a Landfill (t)

49.8

37.8

49.8

Hazardous Waste Recycled/Reused (t)

8.4

3.2

8.4

Hazardous Waste Treated (t)

17.5

11.6

17.5

Hazardous Waste Stored On-site (t)

0.0

0.0

0.0

Total:

75.6 t52.6 t75.6 t

EMM-MM-150a.8

Total weight of hazardous waste recycled

JFO: 2021: 11.1%; 2022: 6.1%

EMM-MM-150a.9

Number of significant incidents
associated with hazardous materials andwaste management

Zero

EMM-MM-150a.10

Description of waste and hazardous
materials management policies andprocedures for active and inactive
operations

See pages 44-45.

Tailings Storage Facilities Management
EM-MM-540a.1

Tailings storage facility inventory table:(1) facility name, (2) location, (3)ownership status, (4) operational status,(5) construction method, (6) maximum
permitted storage capacity, (7) current
amount of tailings stored, (8)consequence classification, (9) date of
most recent independent technicalreview, (10) material findings, (11)
mitigation measures, (12) site-specific
EPRP

See page 44-45.
(1) The Idaho Cobalt Operations Tailings Waste Storage
Facility (TWSF)(2) Idaho, United States(3) 100% Jervois ownership(4) Construction completed in 2021. No tailings yetplaced.
(5) Dry stack TWSF. Equipped with a clay lining, HDPE
liner and underdrainage and leakage detection andrecovery system to prevent ponding of water andseepage to the subsurface. Any discharge will becollected in the water storage pond and then sent to
ICO’s water treatment plant. The plant, together
with the pump-back system, will ensure no
contaminated water leaves the mine.
The TWSF was designed to store both waste rockand tailings to minimize footprint.
(6) BFS: 800,000 st of waste rock and 960,000 st tailings.
(7) 0 tonnes (ICO construction advanced in 2022)(8) ICO initiated benchmarking against GISTM in 2022
(9) Independent Engineering Assessment, Jan 2022
(10) To be provided.
(11) To be provided(12) EPRP in place for mine site. Refinements expectedfollowing completion of GISTM benchmarking

EM-MM-540a.2

Summary of tailings management
systems and governance structure used

See page 36, 44-45. Refinements expected following
completion of GISTM benchmarking

642022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Response

to monitor and maintain the stability oftailings storage facilities
EM-MM-540a.3

Approach to development of Emergency
Preparedness and Response Plans(EPRPs) for tailings storage facilities

EPRP in place for mine site. Refinements expected following
completion of GISTM benchmarking.

EMM-MM-160a.1

Description of environmental
management policies and practices for
active sites

See pages 36, 47-48.

EMM-MM-160a.2

Percentage of mine sites where acid rockdrainage is: (1) predicted to occur, (2)actively mitigated, and (3) under
treatment or remediation

See ICO Final Environmental Impact Assessment for descriptionof risk. Related mitigation and management plans in place (see FEIS and pages 44-45 for description of dry stack Tailings
Waste Storage Facility and water treatment plant and system).

EMM-MM-160a.3

Percentage of (1) proved and (2) probablereserves in or near sites with protectedconservation status or endangered
species habitat

Page 47. ICO is located within The Salmon-Challis National
Forest (SCNF), which is home to threatened, sensitive andendangered species.
See ICO Bankable Feasibility Study. Proven and ProbableReserve of 2.7 million tons (Mt) with an average grade of 0.55%
Co, 0.79% Cu, and 0.02 troy ounce per short ton (oz/st) Au
above cut-off Grade (CoG) of 0.24% Co.

Biodiversity Impacts

Security, Human Rights & Rights of Indigenous People
EM-MM-210a.1

Percentage of (1) proved and (2) probablereserves in or near areas of conflict

0%

EM-MM-210a.2

Percentage of (1) proved and (2) probablereserves in or near indigenous land

100% of ICO is located within lands traditionally occupied by
the Shoshone Bannock Tribes and near those of the Nez Perce
Tribe (p. 47, 51, 58).

EM-MM-210a.3

Discussion of engagement processes anddue diligence practices with respect tohuman rights, indigenous rights, andoperation in areas of conflict

None of our operations are located in areas of conflict.
See due diligence practices related to responsible supply chainson p. 25-26 and in our 2021 Modern Slavery Statement andJFO’s 2021 Public Due Diligence Report.
See pages 13, 51, 58-60 for discussion of stakeholder
engagement approach in general.

Community Relations
EM-MM-210b.1

Discussion of process to manage risks andopportunities associated with community
rights and interests

See pages 51, 58-60.

EM-MM-210b.2

Number and duration of non-technicaldelaysZero.

EM-MM-310a.1

Percentage of active workforce covered
under collective bargaining agreements,
broken down by U.S. and foreign
employees

Due to personal privacy regulations in Finland, the % ofworkforce unionized is unknown but nationally is quite high.
0% of our US workforce is unionized. Jervois respects the rightof employees to collective bargaining.

EM-MM-310a.2

Number and duration of strikes andlockouts

Zero.

Labour Relations

Workforce Health and Safety
EM-MM-320a.1(1) MSHA all-incidence rate, (2) fatality
rate, (3) near miss frequency rate (NMFR)
and (4) average hours of health, safety,
and emergency response training for (a)full-time employees and (b) contract
employees

2021

2022

(1) Incident Severity Rate
JFO
ICO
SMP
(2) Fatality Rate (all operations)

3
-

26
0.3

0.4

0.0

0.0

(3) Near-miss Frequency Rate (NMFR)
JFO

82.94

73.85

122.5
0.0

65

2022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Response
ICO
SMP(4) (a) Ave. Hours of Training (Employees)
JFO: (h/a)(b) Ave. Hours of Training (Contractors)
JFO and ICO: (%)

393.9
9.02

14.46

100%

100%

Business Ethics & Transparency
EM-MM-510a.1

Description of the management systemfor prevention of corruption and bribery
throughout the value chain

See pages 21, 25.

EM-MM-510a.1

Production in countries that have the 20
lowest rankings in Transparency
International’s Corruption Perception
Index

Zero.

EM-MM-000.A

Production of (1) metal ores and (2)finished metal products

JFO in 2022:
Co-production: 5,264 metric tonnes (Q1-Q4)
JFO in 2021 (Since acquisition in Sept/21):
Co-production: 3,102 metric tonnes (Q3-Q4).

EM-MM-000.A

Total number of employees, percentage
contractors

326 employees (20.2% female; 3% contracted regular andinterns/summer).
(excludes several hundred contractors at ICO)

Activity Metrics

66

2022 Sustainability Report | JERVOIS GLOBAL

Annex 3:

Referenced GRI Standards

As outlined in the following tables, Jervois has taken steps towards transparently reporting our sustainability performance with anemphasis on issues that matter most to our business and stakeholders. Importantly, we have begun to reference key aspects of the
Sustainability Accounting Standards Board (SASB) Metals and Mining standard (Annex 2) and Global Reporting Initiative (GRI) standards
as well as the Task Force on Climate-related Financial Disclosures (TCFD) (Annex 4). Guidance was also drawn from the joint GRI-RMI
2021 guidance on “Advancing Reporting on Responsible Mineral Sourcing.”
In this inaugural Sustainability Report, Jervois references key aspects of the GRI standards and, given the 2023 launch of GRI’s draft
Mining Standard, Jervois intends to report in accordance with this new standard in its 2023 Sustainability Report.
The following provides disclosures on ESG topics considered to be material (page 16). With the exception of corporate level information,
due to the current phases of development of Jervois’ projects – JFO in Finland in production, ICO in the United States under construction
and feasibility studies underway at SMP in Brazil - the boundaries for the data are constrained by availability (and materiality) of data.
The boundary is limited to Jervois Finland and, where data is available and material, ICO in the United States. In Brazil, as our feasibility
study progresses, the Jervois team continuously engages with CBA, who manages main environmental, OHS, labour and other functions
as operations are paused until the acquisition process advances. As such, only data concerning OHS is presented.
Table A1-2. GRI Referenced Content Index
This material references disclosures from GRI 102 and GRI 103; GRI 203: 203-1; GRI 204: 204-1; GRI 205: 205-1, 205-2, 205-3; GRI 206:
206-1; GRI 302: 302-1, 302-2, 302-4; GRI 303 (2018): 303-1 to 303-5; GRI 304: 304-1 to 304-4; GRI 305: 305-1 to 305-5; GRI 306: 306-1
to 306-5; GRI 307: 307-1; GRI 308: 308-1, 308-2; GRI 401: 401-1, 401-2; GRI 403 (2018): 403-1, 403-2, 403-4, 403-5, 403-6, 403-7, 403-9;
GRI 404: 404-3; GRI 405: 405-1; GRI 406: 406-1; GRI 408: 408-1; GRI 409: 409-1; GRI 412: 412-2; GRI 413: 413-1, 413-2 and GRI 414: 4141, 414-2. All are 2016 versions of the standards with the exception of GRI 303 (2018) and GRI 403 (2018).

Standard Referenced and Disclosure

Year

Response

General Disclosures
Organizational Profile
GRI: 102-1

Name of the organization

2022

Jervois Global Ltd.

GRI: 102-2

Activities, brands, products,
services

2022

Page 8.

GRI: 102-3

Location of headquarters

2022

Melbourne, Australia.

GRI: 102-4

Location of operations

2022

Page 8.

GRI: 102-5

Ownership and legal form

2022

2022 Annual Report and Annual Information Form

GRI: 102-6

Markets served

2022

Page 8, 2022 Annual Report and 2022 Modern Slavery Statement.

GRI: 102-7

Scale of the organization

2022

See 2022 Annual Report

GRI: 102-8

Information on employees andother workers

2022

Page 54-56.

GRI: 102-9

Supply chain

2022

Page 8 and 25. More details in 2022 Modern Slavery Statement, and JFO’s
2022 Public Disclosure Report under the RMI.

GRI: 102-10

Significant changes to theorganization and supply chain2022

See page 22-28 in 2022 Annual Report.

GRI: 102-11

Precautionary Principle orapproach

2022

Page 36.

GRI: 102-12

External Initiatives

2022

Page 13-14.

GRI: 102-13

Membership of associations

2022

Page 13-14.

GRI: 102-14

Statement from senior decisionmaker

2022

Page 2.

GRI: 102-15

Key risks, impacts andopportunities

2022

Pages 16, 20, 26, 32-33, 36, 38, 41, 42, 44, 46, 47-48, 51, 53, 54, 55, 58. See
also pages 50-58 in 2022 Annual Report, and 2022 Modern Slavery

Strategy672022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Year

ResponseStatement. See also Annex 3: TCFD Disclosure for climate change-relatedrisks and opportunities.

Ethics and Integrity
GRI: 102-16

Values, principles and norms of
behaviour

2022

Page 6. See also Code of Ethics and Business Conduct

GRI: 102-17

Mechanisms for advice andconcern for ethics

2022

Page 21, 22 and 52. See also Code of Ethics and Business Conduct andWhistleblower Mechanism Policy

GRI: 102-18

Governance structure2022

Page 19-22.

GRI: 102-19

Delegating Authority

2022

GRI: 102-20

Executive level responsibility foreconomic, environmental andsocial topics

2022

GRI: 102-21

Consulting stakeholders on
economic, environmental andsocial topics

2022

Page 13, 15, 51, 58, 59.

GRI: 102-22

Composition of highest governing
body and its committees:

2022

Page 24. See also pages 30-40 in 2022 Annual Report.

GRI: 102-23

Chair of the highest governance
body

2022

Page 24. See also pages 31 in 2022 Annual Report.

GRI: 102-24

Nominating and selecting thehighest governance body

2022

See Board Charter.

GRI: 102-25

Conflicts of interest

2022

See Code of Ethics and Business Conduct

GRI: 102-26

Role of the highest governancebody in setting purpose, values andstrategy2022

Page 19-20. See also pages 30-40 in 2022 Annual Report.

GRI: 102-27

Collective knowledge of the highest
governance bodies

2022

Page 24. See also pages 30-32 in 2022 Annual Report.

GRI: 102-28

Evaluating the highest governancebody’s performance

2022

Page 24. See also pages 38 in 2022 Annual Report.

GRI: 102-29

Identifying and managing
economic, environmental andsocial impacts

2022

Pages 15, 19-22, 29-33, 36, 42,44, 46, 47, 51, 52,58. See also pp. 50-58 in
2022 Annual Report, and 2022 Modern Slavery Statement. See also Annex
3: TCFD Disclosure for climate change-related risks and opportunity
management.

GRI: 102-30

Effectiveness of risk management
processes

2022

Pages 16-17, 23, 31, 39, 42, 44, 45, 47, 53, 54, 58. See also 2022 Modern
Slavery Statement.

GRI: 102-31

Review of economic,
environmental and social topics

2022

Pages 25-60. See also Board Charter.

GRI: 102-32

Highest governance body’s role insustainability reporting

2022

Page 19-22.

GRI: 102-33

Communicating critical concerns

2022

Page 52.

GRI: 102-34

Nature and total number of criticalconcerns2022

All significant incidents and near-misses and management response wasreviewed by Board and ESG and Compliance Committee (p. 19-22). Number(by category) will be disclosed in subsequent reports.

GRI: 102-35

Remuneration policies

2022

See pages 60-82 in 2022 Annual Report and Remuneration and
Nomination Committee Charter.

GRI: 102-36

Process for determining
remuneration

2022

See Remuneration and Nomination Committee Charter.

GRI: 102-37

Stakeholders involvement inremuneration

2022

See Results of 2023 Annual General Meeting and 2022 Annual Report.
Remuneration report approved by 79% of people voting. See also
Remuneration and Nomination Committee Charter

GRI: 102-38

Annual total compensation ratio

2022

Omission. To be calculated in subsequent disclosures.

Governance682022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Year

Response

GRI: 102-39

2022

Omission. To be calculated in subsequent disclosures.

Percentage increase in annual totalcompensation ratio

Stakeholder Engagement
GRI: 102-40

Stakeholder groups

2022

Page 13-14, 58-59.

GRI: 102-41

Collective bargaining agreements

2022

Page 56.

GRI: 102-42

Identifying and selecting
stakeholders

2022

Page 13, 15, 51.

GRI: 102-43

Approach to stakeholder
engagement

2022

GRI: 102-44

Key topics and concerns raised

2022

Reporting Practice
GRI: 102-45

Entities included in the
consolidated financial statements

2022

See 2022 Annual Report, pages 146.

GRI: 102-46

Defining report content and topic
boundaries

2022“About this Report”, back of front cover.

GRI: 102-47

List of material topics

2022

Page 15.

GRI: 102-48

Restatements of information

2022“About this Report”, back of front cover.

GRI: 102-49

Changes in reporting

2022

This is Jervois second Sustainability Report. No material changes.

GRI: 102-50

Reporting period

2022

January 1 to December 31, 2022 unless otherwise indicated.

GRI: 102-51

Date of most recent report2022

This is the second, comprehensive Sustainability Report. A limited ESG
disclosure in the 2020 Annual Report was reported in reference to the GRI
standards.

GRI: 102-52

Reporting cycle

2022

Annual

GRI: 102-53

Contact person for questions
concerning the report

2022

Bryce Crocker, CEO, Bryce.crocker@jervoisglobal.com
Jennifer Hinton, Group Manager – ESG, Jennifer.hinton@jervoisglobal.com

GRI: 102-54

Claims of reporting in accordancewith the GRI standards

2022

No claims have been asserted about reporting in accordance with the GRI
standards. We have indicated (“About this Report” and p.66) that we havebegun to reference key aspects of the Global Reporting Initiative (GRI)
standards in this report and aim to report in accordance with the GRI
standards in the future.

GRI: 102-55

GRI content index

2022

This table.

GRI: 102-56

External assurance

2022“About this Report”, back of front cover. This report has not been subjectedto third party assurance. Content reported herein that concerns responsible
mineral supply chains will be or has been subject to 3rd party audit inaccordance with the RMI (page 25). JFO’s environmental, occupationalsafety and health management systems have been assured in accordancewith ISO 9001, 14001 and 45001.
GOVERNANCE

Ethics & Compliance
GRI: 103-1

Explanation of the material topic
and its boundary2022

Pages 20-22 and “About this Report”, back of front cover.

GRI: 103-2

The management approach and its
components

2022

Pages 19-22. See also our Code of Ethics and Business Conduct, Human
Rights Policy, Sustainability Policy, Supplier Standard on our Corporate
Governance webpage and our 2022 Modern Slavery Statement

GRI: 103-3

Evaluation of the management
approach2022

Pages 23, 52. See also our 2022 Modern Slavery Statement

GRI: 102-16

Values, principles and norms of
behaviour

2022

Page 6. See also Code of Ethics and Business Conduct

GRI: 102-17

Mechanisms for advice andconcern for ethics

2022

Page 21, 22 and 52. See also Code of Ethics and Business Conduct andWhistleblower Mechanism Policy

GRI: 102-25

Conflicts of interest

2022

Page 21-23. See also Code of Ethics and Business Conduct on our Corporate
Governance webpage.

69

2022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Year

Response

GRI: 102-33

Communicating critical concerns

2022

Page 21, 51, 52.

GRI: 102-34

Nature and total number of criticalconcerns2022

All significant incidents and near-misses and management response werereviewed by Board and ESG and Compliance Committee (p. 19, 22). Number(by category) will be disclosed in subsequent reports.

GRI 205-1

Operations assessed for risks
related to corruption.

2022

Page 19-20. Supply chain due diligence also further described on page XX
and in our 2022 Modern Slavery Statement and JFO’s 2021 Public Due
Diligence Report as per the RMI.

GRI 205-2

Communication and training aboutanti-corruption policies andprocedures

2022

Pages 21, 55-56.

GRI 205-3

Confirmed incidents of corruption
and actions taken.

2022

Pages 22.

GRI 206-1

Legal actions for anti- competitive
behavior, anti-trust, and monopoly
practices2022

Zero legal actions identified. Company bound to disclose any relatedmaterial incidents or actions in accordance with its Continuous Disclosure
Policy on our Corporate Governance webpage

GRI 307-1

Non-compliance withenvironmental laws and regulations

2022

Page 37.

Responsible Supply Chains
GRI: 103-1

Explanation of the material topic
and its boundary

2022

Page 25. Also see our 2022 Modern Slavery Statement and JFO’s 2021
Public Due Diligence Report as per the RMI.

GRI: 103-2

The management approach and its
components

2022

GRI: 103-3

Evaluation of the management
approach2022

Pages 25. See also our Code of Ethics and Business Conduct, Human Rights
Policy, Sustainability Policy, Supplier Standard on our Corporate
Governance webpage and our 2022 Modern Slavery Statement

GRI: 102-9

Supply chain

2022

Page 25. Also see our 2022 Modern Slavery Statement and JFO’s 2021
Public Due Diligence Report as per the RMI.

GRI: 102-10

Significant
changestoorganization and supply chain

the

2022

Pages 6, 7, 11 in 2022 Annual Reportpage 6, 7, 11.

GRI: 308-1

New suppliers that were screenedusing environmental criteria

2022

GRI: 308-2

Negative environmental impacts inthe supply chain and actions taken

2022

GRI: 414-1

New suppliers that were screenedusing social criteria

2022

Page 25 outline due diligence process. More details on current screening
process and planned amendments in line with our Supplier Standard arefound in our 2021 Modern Slavery Statement.
See JFO’s 2022 Public Due Diligence Report for suspected cases identified
and response in accordance with OECD Due Diligence for Responsible
Supply Chains of Minerals from Conflict-Affected and High-Risk Areas.

GRI: 414-2

Negative environmental impacts inthe supply chain and actions taken

2022

GRI: 103-1

Explanation of the material topic
and its boundary

2022

Page 29-33 and “About this Report”, back of front cover.

GRI: 103-2

The management approach and its
components

2022

Pages 29-33. See also our Code of Ethics and Business Conduct, Human
Rights Policy, Sustainability Policy, Supplier Standard on our Corporate
Governance webpage.

GRI: 103-3

Evaluation of the management
approach2022

Pages 31-32..

GRI: 403-1

Occupational health and safety
management system

2022

Pages 29.

GRI 403-2

Types of injuries and rates of injury,
occupational diseases, lost days
and absenteeism and number ofwork-related fatalities.

2021
2022

Page 31-32.
Zero work-related fatalities incurred.
Lost time incident frequency rate (LTIFR):
JFO: 1.41,
ICO = 0.0;
SMP = 0.0
Injuries and occupational diseases by type and rate to be disclosed insubsequent reporting periods.

OCCUPATIONAL HEALTH AND SAFETY70

2022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Year

Response
JFO
Indicator

2021

2022

2021

ICO
2022

Fatalities

0

0

0

0

LTIFR

7.07

2.41

0

3.8

Lost time injuries (no.)

3

1

-

3

JFO reported 1 lost time injury (Trip causing a fractured toe).
ICO reported 3 lost time injuries (2 LTIs: one employee lacerated thumb,one contractor lacerated knee; 1 MTC: slip-and-fall)
GRI 403-4

Worker participation, consultation,and communication on
occupational health and safety

2022

Pages 32-33, 51-52.

GRI: 403-5

Worker training on occupational
health and safety

2022

Pages 32. Across our operations, 97% of employees received training where
OHS was an integral component. 100% of on-site contractors received
onboarding training with a core focus on OHS. JFO reported 14.46 OHS
training hours per employee in 2022 (compared to 9.02 OHS hours pp in2021).

GRI: 403-6

Promotion of worker health2022

Pages 32-33.

GRI: 403-7

Prevention and mitigation ofoccupational health and safety
impacts directly linked by business
relationships

2022

Pages 25-26. See also our Supplier Standard

GRI 403-9

Work-related injuries

2022

Pages 31-32.
JFO

ICO
2022

Indicator

2021

2022

2021

LTIFR

7.07

2.41

0

3.8

TRIR

1.41

0.48

0

1.13

Lost time injuries (no.)

3

1

-

3

Incident severity rate

3

26

-

0.3

NMFR

82.9

73.8

-

17.8

ENVIRONMENT
Climate Change
GRI: 103-1

Explanation of the material topic
and its boundary

2022

Page 38 and “About this Report”, back of front cover.

GRI: 103-2

The management approach and its
components

2022

Pages 38-41. See also our Sustainability Policy and Supplier Standard on our
Corporate Governance webpage. See Annex 3: TCFD Disclosure

GRI: 103-3

Evaluation of the management
approach2022

Pages 37, 39-40 and Annex 3.

GRI: 302-1

Energy consumption within theorganization

2022

Page 39-40. See also Table 1a: EMM-MM-130a.1. JFO’s internal energy
consumption is shown below.
Diesel (US gallons)
Coal (US short ton)
Natural Gas (MMBtu)
Used Oil (US gallons)
Gasoline (US gallons)
Propane (MMBtu)
Renewable Sources (MWh)4,305

50,5370

Given that, in 2022, ICO was in construction stage and SMP is undertaking
its BFS and advanced engineering, energy consumption has not been
quantified for 2022 as of the time of reporting.
GRI: 302-2

Energy consumption outside of theorganization

2022

JFO’s grid electricity in 2022 was 27,078 MWh (a decrease from 28,138
MWh in 2021). Approximately 23% of this is renewable.

712022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Year

Response

GRI: 302-4

Reduction of energy consumption

2022

Page 40. JFO has been setting, meeting and exceeding energy saving targets
since 2002. JFO aims to reduce its energy consumption by 3.385 GWh
between 2020 and 2025 total. Between 2020-22, JFO has saved 4.12 GWh(in excess of its 2022 target by 21.7%)

GRI: 305-1

Direct (Scope 1) GHG Emissions

2022

GRI: 305-2

Indirect (Scope 2) GHG Emissions

2022

Pages 39 and Annex 3: TCFD Disclosure Scope 1, 2 and total emissions
intensity for JFO and (pre-production estimates) ICO and SMP.

GRI: 305-3

Other indirect (Scope 3) GHG
Emissions2022

Efforts to quantify Scope 3 emissions and engage large carbon emitting
suppliers initiated by JFO. LCAs at ICO and SMP are planned once inproduction and will help inform Scope 3 efforts.

GRI: 305-4

GHG emissions intensity

2022

Pages 39 and Annex 3: TCFD Disclosure Scope 1, 2 and total emissions
intensity for JFO and (pre-production estimates) ICO and SMP.

GRI: 305-5

Reduction of GHG emission

2022

Pages 38-41 and Annex 3: TCFD Disclosure

Water Management
GRI: 103-1

Explanation of the material topic
and its boundary

2022

Page 42 and “About this Report”, back of front cover.

GRI: 103-2

The management approach and its
components

2022

Pages 42-43. See also our Sustainability Policy and Supplier Standard on our
Corporate Governance webpage.

GRI: 103-3

Evaluation of the management
approach2022

Pages 42.

GRI: 303-1

Interactions with water as a sharedresource

2022

GRI: 303-2

Management of water-discharge
related impacts

2022

Pages 42-43; and 47 (joint monitoring by JFO) and 48 (partnership for
conservation and protection of fish habitats). For ICO, stakeholder
engagement is established through the Inter-Agency Task Force for ICO,
which includes Federal, State, and Tribal organizations.

GRI: 303-3

Water withdrawal

2022

GRI: 303-4

Water discharge

2022

GRI: 303-5

Water consumption

2022

Page 42-43. JFO sources water from Kokkola Industrial Park, whose watersupply plant extracts water from from Lake Öja, a low risk source with aconstant water balance (due to industrial withdrawals).
As ICO moves towards production, all flowmeters and monitoring systems
are being installed. Once in production, ICO will primarily source waterfrom mine-dewatering . ICO’s water storage pond will store water collected
via a pump-back system that will collect drainage from undergroundworkings and the Tailings Waste Storage Facility (“TWSF”). The pond will
also collect water discharged from the processing plant and snowmelt andprecipitation from contact areas (e.g. TWSF, ROM/crusher pad). This will be
supplemented by freshwater from on-site local boreholes (located in the
Big Flat aquifer system).

GRI: 306-1

Water discharge by quality anddestination.

2021
2022

Page 42-43. JFO’s total discharge shown above. Prior to discharge, JFO’s
wastewater is treated in its pre- and chemical treatment facility and thensent to Umicore’s industrial wastewater plant, as per a long-term refinery
capacity sharing agreement.
JFO

2021

2022

936,064

886,258

Discharge of Other third-party water (m3)936,064

886,258

Total discharge to areas with water stress (m3)00Discharge of Fresh Water (TDS ≤1,000 mg/L)

00Discharge of Other Water (TDS >1,000 mg/L)

Total discharge to all destinations (m3)00Total discharge by level of treatment:--

Primary: removal of solids (m3)00Secondary: removal of TSS and TDS (m3)

176,543

142,127

Tertiary: removal of nutrients, metals etc to
produce high quality water (m3)759,521744,13172

2022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Year

Response
During 2022, ICO discharge from the site was zero. ICO’s water treatment
facility was commissioned in late 2021 and will ensure no contaminatedwater leaves the site.
In terms of identification of water related impacts, ICO’s Final
Environmental Impact Statement (“FEIS”) identified water use and water
related impacts. Comprehensive monitoring and mitigation plans are ineffect. NEPA assessments were completed prior to approval of the ICO Planof Operations and the NPDES Discharge Permit.

GRI 306-5

Water bodies affected by water
discharge and/or run-off.

2022

Page 42-43. Following treatment, JFO’s water is discharged to the Gulf ofBothnia in the Baltic Sea.
At ICO, no water has been discharged from site. Once in operation,discharged water will only take exit via a single discharge and must meetwater quality NPDES limits.

Waste Management
GRI: 103-1

Explanation of the material topic
and its boundary

2022

Page 44-45 and “About this Report”, back of front cover.

GRI: 103-2

The management approach and its
components

2022

Pages 44-45. See also our Sustainability Policy and Supplier Standard on our
Corporate Governance webpage.

GRI: 103-3

Evaluation of the management
approach2022

Pages 44.

GRI: 306-1

Waste generation and significant
waste- related impacts

2022

Page 44-45.
JFO (hazardous waste): 2021: 75.6 t
2022: 52.6 t
JFO (non-hazardous waste)
2021: 519.4 t 2022: 712.4 t
As described below, a fraction was disposed of in a landfill. See also Annex
1: EM-MM-150a.4-10.

GRI: 306-2

Management of significant wasterelated impacts

2022

Page 36.

GRI: 306-3

Significant spills

2022

Page 37..

GRI: 306-4

Waste diverted from disposal

2022

GRI: 306-5

Waste directed to disposal

2022

Page 44-45. JFO has implemented multiple strategies in-line with theprinciples of the waste hierarchy and has reduced all waste going to final
dispose and/or incineration from 23.6% to 8.0% of all waste between 2022
and 2022.
JFO

2021

2022

Hazardous Waste Sent to a Landfill

49.8

37.8

Hazardous Waste Recycled/Reused

8.4

3.2

Hazardous Waste Treated

17.5

11.6

Hazardous Waste Stored On-site (t)

0.0

0.0

Non-Hazardous Waste Sent to a Landfill (t)

0.4

0.4

Non-Hazardous Waste Recycled/Reused (t)

122.
5
0.0

346.8

363.5

Used Oil Sent Off-Site (t)

393.
9
2.6

Used Oil Stored On-site (t)

0.0

0.0

Non-Hazardous Waste On-site Disposal (t)Non-Hazardous Waste Other Disposal (t)

0.0

1.7

Waste generation at ICO during the construction and mine development
phase in 2022 has generated 231,654 t of waste rock and 95,674 t ofoverburden to dateTailings Management
GRI: 103-1

Explanation of the material topic
and its boundary

2022

Page 45 and “About this Report”, back of front cover.

73

2022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Year

Response

GRI: 103-2

The management approach and its
components

2022

Pages 45. See also our Sustainability Policy and Supplier Standard on our
Corporate Governance webpage.

GRI: 103-3

Evaluation of the management
approach2022

Pages 45.

Total amounts of tailings andassociated risks2022

As of end of 2022, no tailings have yet been generated at ICO.
The majority of tailings at ICO will be pumped back underground as paste
fill. In 2021, ICO completed construction of its dry stack Tailings Waste
Storage Facility (“TWSF”) that will be used to store those tailings not
required underground. The TWSF is equipped with a clay lining, HDPE liner
and underdrainage and leakage detection and recovery system to prevent
ponding of water and seepage to the subsurface. Any discharge will becollected in the water storage pond and then sent to ICO’s water treatment
plant. The plant, together with the pump-back system, will ensure no
contaminated water leaves the mine.

Biodiversity & Conservation
GRI: 304-1

Operational sites owned, leased,managed in, or adjacent toprotected areas and areas of highbiodiversity value outside
protected areas

2022

Page 47.

GRI: 304-2

Significant impacts of activities,
products, and services on
biodiversity

2022

Page 47. For ICO, impacts on special-status plant and wildlife species
potentially impacted by the ICO were assessed in the FEIS. No significant
long-term effects were identified.

GRI 304-3

Habitats protected or restored

2022

Page 47-48. Beyond the footprint of ICO, the Company has partnered with
the Idaho Conservation League (ICL) to support conservation andbiodiversity projects in the area. See page XX.

GRI 304-4

IUCN Red List species and national
conservation list species with
habitats in areas affected byoperations

2022

Page 47-48. See also ICO Final Environmental Impact Statement.

SOCIAL
Workforce
GRI: 103-1

Explanation of the material topic
and its boundary

2022

Page 54 and “About this Report”, back of front cover.

GRI: 103-2

The management approach and its
components

2022

Pages 51-57. See also our Code of Ethics and Business Conduct, Human
Rights Policy, Sustainability Policy, Supplier Standard on our Corporate
Governance webpage and our 2022 Modern Slavery Statement

GRI: 103-3

Evaluation of the management
approach2022

Pages 53-56.

Information on employees andother workers

2022

Diversity
GRI 102-08

Page 54 summarizes. Additional details highlighted below (as of December 31, 2022):
JFO
Employee#
Category
EEs
4
Exec/Sr Mgmt

Male

3

First/Mid Mgmt

37

Professional
Technician

SMP

ICO

Female

#
EEs

Male

Female

1

4

3

1

5

5

-

24

13

6

4

2

16

12

4

56

26

30

4

4

-

9

8

1

-

-

-

9

6

3

-

-

-

Admin Support

-

-

-

2

-

-

-

Service Worker

-

-

-

1

-

1

# Ees

Male

FemaleOperatives

112

109

3

8

7

1

25

25

-

Laborer/Helper

-

-

-

1

-

1

-

-

-

Craftsmen

-

-

-

-

-

-

9

9

-

74

2022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Year

Response

Total # of
Employees
Permanent
Fixed
Term/Temporary
Full Time

209

162

47

34

24

8

65

59

6

193

-

-

34

-

-

67

-

-

16

-

-

0

-

-

2

-

-

190

-

-

34

-

-

67

-

-

Part-Time

3

-

-

0

-

-

2

-

-

Age: Less than
30 Years
Age: 30-50 years
Age: Over 50
years

30

26

5

6

3

3

11

9

2

118

81

25

23

18

5

29

24

5

61

48

14

5

5

-

26

24

2

GRI 401-1

New employee hires and employee
turnover2022

Page 54-55. JFO had 10 new hires (7M:3F) and a turnover rate of 7.8% with
16 voluntary terminations (15M:2F). ICO had 48 new hires (45M:3F) and aturnover rate of 31% with 8 voluntary and 6 involuntary terminations(2M:2F).

GRI: 405-2

Ratio of basic salary andremuneration of women to men

2022

Page 54-56. Jervois Global and all operations (JFO, SMP, ICO) have JFO hasstrictly established pay scales on the basis of the position, education, years
with the company and experience and does not differentiate on the basis ofgender.
The average for first and middle management for each operation is 0.86
(JFO), 0.7 (SMP) and 0.71 (ICO).

GRI: 405-1

Diversity of governance bodies andemployees

2021
2022

Page 54-56 and GRI 102-08 above. Gender diversity is summarized below.
Male:Female Ratio
2022

2021

Board
Exec/Senior
Management
All Operations

5:0

5:1

12:1

14:2

172:51

242:61

Labour Relations
GRI 102-41

Collective bargaining agreements

2022

Page 56.

Number of strikes and lockouts
exceeding one week’s duration, bycountry2022

Page 54 and 56. Zero.

2022

Page 54-55. JFO implemented 3,949 hours of employee training in total,
averaging 18.9 hours per employee in 2022 (and increase above 12.8 hours
in 2021). Average hours by category of employment are summarized:

Professional Development
GRI: 404-1

Average hours of training per year
per employee

Ave. hours/a
2021

2022

Exec/Sr Mgmt

8.5

9.9

First/Mid Mgmt

9.6

23.2

Professional

12.7

18.9

Operations

13.9

17.8

The majority of ICO’s new hires (21) commenced work in late 2021, andthey in addition to 2022 hires, underwent rigorous induction andonboarding training. For both JFO and ICO, 100% of contractors were
onboarded.
GRI: 404-3

Percentage of employees receiving
regular performance and careerdevelopment reviews2022

At JFO, 87% of employees received performance evaluations. Those thatwere not evaluated related to the start date of employment: officers are
only reviewed after 18 months of work and other workers are reviewed
after at least one year.
At ICO, 100% of employees received performance evaluations, a function ofmost hires commencing in late 2021.
As most at SMP were hired in 2022, no performance reviews wereconducted by end of year.

752022 Sustainability Report | JERVOIS GLOBAL

Standard Referenced and Disclosure

Year

Response

Community
Local Benefits
GRI: 103-1

Explanation of the material topic
and its boundary

2022

Page 13, 58 and “About this Report”, back of front cover.

GRI: 103-2

The management approach and its
components

2022

Pages 13, 51, 58-60. See also our Code of Ethics and Business Conduct,
Human Rights Policy, Sustainability Policy, Supplier Standard on our
Corporate Governance webpage and our 2022 Modern Slavery Statement

GRI: 103-3

Evaluation of the management
approach2022

Pages 53, 58.

GRI: 203-1

Infrastructure investments andservices supported

2022

Page 58-60.

GRI: 204-1

Proportion of spending on local
suppliers

2022

Page 58-60. The Company intends to quantify, and disclose the % andamount of procurement spend on local suppliers in our 2023 report.

GRI: 413-1

Operations with local community
engagement, impact assessments,
and development programs

2022

Page 58-60.

GRI: 413-2

Operations with significant actualand potential negative impacts on
local communities

2022

Page 58-60. ICO recognizes the potential socio-economic impacts of theiroperation on the communities around the mine (e.g. housing shortages).

GRI: 103-1

Explanation of the material topic
and its boundary

2022

Page 26 and “About this Report” on the back of the front cover. See also
our 2022 Modern Slavery Statement I.

GRI: 103-2

The management approach and its
components

2022

Pages 26. See also our Code of Ethics and Business Conduct, Human Rights
Policy, Sustainability Policy, Supplier Standard on our Corporate
Governance webpage our 2022 Modern Slavery Statement and JFO’s 2021
Public Due Diligence Report as per the RMI

GRI: 103-3

Evaluation of the management
approach2022

Pages 16-17, 23, 31, 37, 53.

GRI: 406-1

Incidents of discrimination andcorrective actions taken

2022

Zero incidents were reported in 2022 via our grievance and othermechanisms.

GRI: 408-1

Operations and suppliers at
significant risk for incidents of child
labor

2022

See page 25-26 and our 2022 Modern Slavery Statement and JFO’s 2021
Public Due Diligence Report as per the RMI.

GRI: 409-1

Operations and suppliers at
significant risk for incidents offorced or compulsory labor

2022

GRI: 412-2

Employee training on human rights
policies or procedures

2022

Human Rights

Page 25, 54-56.

762022 Sustainability Report | JERVOIS GLOBAL

Annex 4:

TCFD Disclosure

TCFD
Recommendations

Summary Response

Governancea.

Board oversight of The Board gauges our risk exposure and ensures that sound governance systems are in place, including related toclimate risks andpolicies, management systems and related monitoring and oversight of their implementation. This includes withrespect to climate change risks and opportunities. Under the standing ESG agenda item in Board Meetings, climate
opportunities
change featured prominently throughout 2022 (see p. 19-20).

b.

Management’s
role in assessing
and managing
climate- relatedrisks andopportunities

Within their respective areas of responsibility, our committees and senior Management continually identify,
prioritise and monitor emerging and prevailing risk. Climate change is mainly integrated within roles of the ESG andCompliance Committee, comprised of key members of the Executive and senior management team, all heads of ouroperations and co-chaired by the CEO and Group Manager – ESG. The Committee meets bi-monthly to review andprovide guidance on ESG opportunities, risks and performance, including that related to climate change (see p1920).
In 2021, Jervois formally established a “Climate Action Working Group”, comprised of senior management andoperational leadership, who initiated efforts to collaborate on a Group-wide Climate Action Strategy (see p.20, 38)
and support deeper integration into Jervois business strategy.
Operations management recognize specific climate risks within ongoing risk management but deeper integration isneeded. A Group-wide Standard for a Risk Register is under review and integrates climate risks. See p. 38-41 formore details on operations level management strategies related to climate risk and opportunity responsiveness.

Strategya.

Climate relatedrisks andopportunities theorganisation has
identified over the
short, medium,and long term.

Risks: (See 2022 Annual Report,. p. 57). In general, potential impacts related to flooding, droughts, forest fires, insect
outbreaks, erosion, landslides, avalanches and others, may pose risks to operations and their safety, environmental,social and financial performance. Potential adverse effects may occur in terms of geotechnical stability, water supply
and water balance, working conditions (humidity, heat stress), construction schedules, site access, reclamation as
well as supply chain disruptions (e.g. access to inputs, shipping of products), among others. Risks are expected toprogressively increase through to the long-term and vary by geography and range from steep, mountainous terraneprone to forest fires and heavy snowfall (ICO) to near-sea proximity of operations (JFO) to an area which, in recent
history, experienced severe droughts (SMP), among others.
In the short- to long-term, changing regulatory environments may increase carbon pricing; introduce difficult tomeet thresholds potentially resulting in penalties; or increase exposure to litigation. Factors such as reduced global
demand for products and increased costs of inputs, among others, may affect revenues. Reputational risks exists if
progress towards carbon neutrality is impeded and/or negative impacts occur.
Opportunities: Increased cobalt and nickel prices and revenues due to escalating EV battery demand; increased costsavings due to energy efficiency measures; efforts to lower GHG emissions reducing sensitivity to regulatory risks,
including carbon pricing, strengthening relationships with some local stakeholders (including NGOs); reputational
gains; increased market valuation through resilience planning.

b.

Impact of climate
related risks andopportunities onorganisation’s
businesses,
strategy, andfinancial planning.

Jervois’ overall vision, mission and strategy is directly linked to the growing demand for electric vehicles (EVs) andtherefore cobalt and nickel in EV batteries (see this report, p.8 and 2022 Annual Report,. p. 15-16).
Risks: Climate risks are detailed within the Director’s Report of Jervois’ 2022 Annual Report (p. 52). Ongoing scrutinyof operational and supply chain risks, including those related to climate change, under ongoing review by operations
management, senior and Executive management. Assessment and mitigation of key operational risks integrated
within workplans and budgets (e.g. efficiency measures at JFO, safety and access risks associated with avalancherisks at ICO, see p. 32).
Opportunities: JFO supports research and development related to the circular economy, energy efficiency and othermeasures to reduce its carbon footprint (see p. 38-41). JFO is also assessing potential to increase current capacity torecycle spent-cobalt materials and in 2022 initiated a BFS to double production capacity to support this (see 2022
Annual Report). GHG emissions and energy efficiency are integrated in technical considerations for BFS andadvanced engineering at SMP in Brazil and development decisions at ICO.
The above have strategy, operational and financial implications.

c.

Resilience of of the Based on outcomes of COP27 and related recent assessments, the impetus for action on climate change continued
organisation’s
to escalate throughout 2022. As the intensity, frequency and geographic distribution of extreme, climate- linked
strategy,
events came to the fore and the window to constrain global warming to 1.5°C narrowed, the shift to EVs continues
considering
to be a global priority. Even as low-Co or Co-free EV batteries increase, multiple analyses affirm strong cobalt anddifferent climate- nickel demand at a 1.5°C scenario. This upward trajectory reinforces Jervois strategy to become a major supplier ofrelated scenarios. these materials essential to the EV revolution.

772022 Sustainability Report | JERVOIS GLOBAL

TCFD
Recommendations

Summary Response

Risk Management
a.

b.

c.

Processes for
identifying,assessing andmanaging climaterelated risks

Climate change is integrated within broader ESG risk and opportunity management framework (see p. XX-XX and2022 Annual Report, p. 40-41). Ongoing scrutiny of operational and supply chain risks, including those related toclimate change, is under ongoing review by operations management, senior and Executive management. Regulatory
and policy changes, including those that are climate related, are monitored in our host countries and regions (e.g.
EU, Brazil, US).

At operations level, risks are assessed according to likelihood and severity and corresponding measures to eliminate,
Processes forminimize and/or mitigate risks are integrated within workplans and budgets (e.g. efficiency measures at JFO, safety
managing climateand access risks associated with avalanches or forest fires along transport corridors at ICO, see p. XX-XX). Significant
related risks
risks or reportable incidents are reported to operational leadership, followed by Jervois’ CEO, the Group Manager How processes for ESG and others in senior management. If deemed high risk, these are also shared via the CEO to directors of theCompany. These incidents, results of their investigations and status of corrective actions are reviewed in bi-monthly
identifying,meetings of the ESG and Compliance Committee.
assessing andmanaging climaterelated risks areintegrated into theorganizations
overall risk
management

Risk assessment and management process in line with ICO 9001, 14001 and 45001 at JFO. In 2022, both ICO and
SMP initiated processes to achieve ISO certifications as they move towards production.
Climate risks are integrated within draft Group-wide Risk Register Standard, under current review. Climate risk
resilience and opportunity optimization comprise two of three core pillars of Jervois’ Climate Action Plan and will be
informed by a Group-wide climate risk assessment, finalization of which is planned in the near-term.

Metrics & Targetsa.

Metrics used by
In developing metrics and targets, the Company draws from the SASB Mining and Metals Standard (January, 2022)
the organisation to and aims to meet all SASB reporting criteria in its 2022 report.
assess climateFour sets of metrics are most relevant to our climate-related risks and opportunities:
related risks andGreenhouse Gas Emissions: Absolute emissions (total CO2e); Emission intensity (tonnes CO2e per tonne Co
opportunities in
produced) and % of Scope 2 sourced from renewables (see below)
line with its
strategy and risk
Energy Efficiency:
Energy savings per annum (GWh/a). See p. XX-XX where JFO’s 2020-2025
management
energy savings targets continue to be exceeded through energy efficiency
process.
measures.
Water Management:

Freshwater consumption (tpa); water recycled/reused as a % of total
consumption. See p. XX- XX which highlights improvements in water recycling
prior to discharge.

Waste Management:% hazardous and non-hazardous recycled and reused. See p. XX -XX for
performance highlights..

In 2023, the Climate Action Working Group will initiate a review of the potential to integrate additional metrics. This
may include: % of revenues derived from climate change-related products (e.g. recycled Co; Co or Ni used in EV
batteries); cost saving due to increased energy efficiency; climate-related performance metrics in remuneration orother incentives for leadership, management and employees; and % of inputs sourced from water stressed regions,among others. Whether and how an “internal price” on carbon might be introduced to help mitigate pricing andregulatory risks is an area for review. The review will consider risks of creating unintended, adverse consequenceswith their introduction.
b.

Scope 1, Scope 2
Operation
and, ifappropriate, Scope
3 greenhouse gas Source(GHG) emissions, estimate
and the relatedrisks.
Absolute
emissions(t CO2e/a)
Emissions
intensity(t CO2e/t Co)

of

Jervois Finland Oy (JFO)

Idaho Cobalt Operations(ICO)

São Miguel Paulista (SMP)

Global Warming Potential (GWP)
from
LCA
informed
methodology.

Preliminary
GHGPcompliant
CarbonFootprint based on ICO BFS(pre-construction).

GHG-emissions assessment in
BFS-linked engineering study(pre-refurbishment estimate).

JFO 2021:
Scope 1: 7052.3 6168.8
Scope 2: 10622.4 9175.9
Total:
17674.6 15344.8

Pre-production estimates:
Scope 1: 16,222
Scope 2: 17,097
Total:
33,319Pre-production estimates:
Scope 1: 63,800
Scope 2: 26,400
Total:
90,200

JFO 2021:
Scope 1:
Scope 2:
Total:

Pre-production estimates:
Scope 1: 1.3
Scope 2: 1.4
Total:
2.7

Pre-production estimates:
Scope 1: 0.98
Scope 2: 0.4
Total:
1.4

1.23
1.86
3.10

1.17
1.74
2.91

78

2022 Sustainability Report | JERVOIS GLOBAL

TCFD
Recommendations

Summary Response
Comments:

Between 2021 and 2022, JFO saw a 13% and 7% decrease in Absolute emissions and emission
intensity, respectively. This was primarily attributed to the change in production volumes
associated with different cobalt products and implementation of energy saving measures.
ICO and SMP: GHG emissions are indicative only and were prepared to inform early-stage design
decisions. Actual baseline and targets will be established once in production.

c.

Targets used by
the organisation
to manage
climate-relatedrisks andopportunities
and performanceagainst targets.

Given the different stages of Jervois’ operations, target setting for ICO and SMP will be based on baselines
established once in production. Given early-stage consideration of climate-related impacts, both ICO and SMP are
taking steps to support relatively low baselines at the outset.

With its long-standing production history, the status of JFO targets and performance are outlined as follows:
Greenhouse Gas Emissions: Target:

JFO officially launched its Carbon Reduction Roadmap and set at a
Net Zero target for 2035 based on its 2020 baseline (p. 38). Interim
targets include a 40% reduction by 2025 and 60% reduction by
2030.

2022 Actual:

See above and page 39-40 for details. In 2022, JFO signed a powerpurchase agreement (“PPA”) with Umicore to purchaserenewable (wind) energy from windfarms (which will account for
20-30% reduction by 2025); and approved financing andcommenced implementation of an expanded energy saving
program.

Energy Efficiency:

2025 Target:
2022 Target:
2022 Actual:

Reduce consumption by 3.385 GWh (2020-25)
1.693 GWh energy savings since 2020
4.12 GWh actual energy savings since 2020

Water Management:

Target:2022 Actual:

Target to freshwater consumption under review
886,258 m3 (6% reduction from 2021)

Target:Ratio of water recycled/reused as % of total consumption target
under review.
Water recycled 5.7 times prior to discharge (8% increase inrecycling from 2021)

2022 Actual:
Waste Management:

Target:Target for % of all waste recycled/reused under review

2022 Actual:

92% of all waste recycled or reused

Other climate-related targets for 2023. In the coming year, Jervois aims to (i) Finalize and disseminate its
Group-wide Climate Action Strategy; (ii) Explore agreements at SMP to increase mix of renewables in Scope2; and (ii) Leverage internal expertise to strengthen capacity in all operation to increase climate risk
resilience, maximize opportunities and achieve net zero by 2050.

792022 Sustainability Report | JERVOIS GLOBAL

Annex 5:

Cautionary Note on Forward-Looking Statements

This Sustainability Report may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”,“estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule”, “expected” and other similar words or expressions identify forwardlooking statements or information. These forward-looking statements or information may relate to the future training programmes,
development of targets, planned interaction with stakeholders, future expectations of reporting information and certain other factors orinformation. Such statements represent Jervois’ current views with respect to future events and are necessarily based upon a number ofassumptions and estimates that, while considered reasonable by Jervois, are inherently subject to significant business, economic,
competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results,
performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or
implied by such forward-looking statements. Jervois does not intend, and does not assume any obligation, to update these forwardlooking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections suchstatements and information other than as required by applicable laws, rules and regulations

802022 Sustainability Report | JERVOIS GLOBAL

81