First Tin receives ESG Rating from Digbee
01 November 2022
First Tin Plc
("First Tin" or "the Company")
First Tin receives ESG Rating from Digbee
First Tin Plc ("First Tin"), a tin development company with advanced, low capex projects in Germany and Australia focused on advancing the Tellerhäuser high-grade underground project in Germany and the Taronga open pit project in Australia through to delivery of the two Definitive Feasibility Studies, is pleased to announce receipt of the Company's inaugural environmental, social and governance (ESG) rating from Digbee ESG ("Digbee"). Digbee is a leading independent assessment platform for ESG disclosure in the mining industry. Based on ESG achievements in the Company's first six months of operations since listing on the London Stock Exchange in April 2022, First Tin achieved an overall rating of BB.
Digbee's report provides a comprehensive assessment of First Tin's achievements across a broad range of key ESG performance criteria. The report is especially valuable in highlighting opportunities for continuous improvement in specific areas.
First Tin undertook and submitted its first Digbee ESG disclosure on 11th May 2022. This comprised the completion of a set of comprehensive corporate and project questionnaires appropriate to the stage of the Company's projects and mapped to Global Standards. These questionnaires required provision of relevant data, narrative and supporting evidence. First Tin's disclosure was Board-approved prior to submission and assessed by the independent mining ESG experts in order to produce an impartial rating.
Assessment results:
• First Tin is a qualified candidate for European Raw Material Alliance (ERMA) funding and support. ERMA has identified tin from conflict- free sources as a critical raw material to support the EU's intention of becoming climate-neutral by 2050.
• The jurisdictions where both projects are situated (Australia and Germany) are well established mining jurisdictions with well-developed governance systems in place to ensure environmental, health and social aspects are adhered to.
• First Tin's planning incorporates a number of aspects that show ESG considerations with regards to mining activities, e.g. concurrent rehabilitation of mining workings on mining tenements, use of renewable energy, and use of waste rock as filling material for underground sites (Germany) or as dry stacking / aggregate (Australia).
Thomas Buenger, Chief Executive Officer, commented:
"Despite our short history, ESG has been a central focus from day one and remains a key priority. We are proud of the ESG rating achieved under the Digbee assessment. The Digbee ESG assessment is a further demonstration of our commitment to transparent reporting of our performance and progress as we work to achieve the highest levels of ESG compliance and practice across our operations."
Enquiries:
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First Tin |
Via SEC Newgate below |
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Thomas Buenger - Chief Executive Officer |
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Arlington Group Asset Management Limited (Financial Advisor and Joint Broker) |
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Simon Catt |
020 7389 5016 |
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WH Ireland Limited (Joint Broker) |
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Harry Ansell |
020 7220 1670 |
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SEC Newgate (Financial Communications) |
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Elisabeth Cowell / Axaule Shukanayeva / Molly Gretton |
07900 248 213 |
Notes to Editors
First Tin is an ethical, reliable, and sustainable tin production company led by a team of renowned tin specialists. The Company is focused on becoming a tin supplier in conflict-free, low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.
Tin is a critical metal, vital in any plan to decarbonise and electrify the world, yet Europe has very little supply. Rising demand, together with shortages, is expected to lead tin to experience sustained deficit markets for the foreseeable future. Its assets have been de-risked significantly, with extensive work undertaken to date.
First Tin's goal is to use best-in-class environmental standards to bring two tin mines into production in three years, providing provenance of supply to support the current global clean energy and technological revolutions.
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