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| Published on July 25, 2023 | |||||||||||||||||||
| Palladium One Mining Inc. (TSXV: PDM) is focused on discovering environmentally and socially conscious Metals for Green Transportation. A Canadian mineral exploration and development company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel deposits in leading mining jurisdictions. Its flagship project is the Läntinen Koillismaa (LK) Project in north-central Finland. LK is a PGE-copper-nickel project that has existing Mineral Resources. PDM's second project is the 2020 Discovery of the Year Award winning Tyko Project, a high-grade sulphide, copper-nickel project located in Canada. | |||||||||||||||||||
| Disclaimer and Forward Looking Statements | |||||||||||||||||||
| Company Profile | |||||||||||||||||||
| Organizational Profile | |||||||||||||||||||
| Name | Palladium One Mining Inc. | ||||||||||||||||||
| Describe nature of activities, brands, products and services |
Palladium One Mining Inc. is a Canadian mineral exploration and development company, targeting district-scale, platinum group-element (PGE)-copper-nickel deposits in leading mining jurisdictions. It currently has two material projects. |
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Tyko - Ni-Cu-PGE Project (“Tyko Project”), Canada The Tyko Property is a nickel (Ni), copper (Cu), platinum-group element (PGE) project and covers approximately 30,000 hectares including claims under option from 3rd parties. The mining claims are located in the townships of McGill and Shabotik, Thunder Bay Mining Division, Ontario, Canada. There are seven significant Ni-Cu-PGE showings or zones on the Tyko Project; West Pickle, Smoke Lake, RJ, Tyko, Bulldozer, Ember and Shabotik zones. The Tyko Project is 100% owned by Palladium One Mining Inc. Läntinen Koillismaa - PGE-Ni-Cu Project (“LK Project”), Finland The palladium dominant LK project, a platinum group element (PGE), nickel (Ni), and copper (Cu) project, is located in north-central Finland, approximately 40 km north of the company’s exploration office in the town of Taivalkoski. The property is 160 km (by road) east- southeast from Rovaniemi and 190 km northeast of the port city of Oulu. The LK Project is 100% owned by Palladium One Mining Inc. The LK project hosts an independent, NI43-101 compliant, Mineral Resource Estimate which shows 38.2 million tonnes of Indicated resource and 49.7 million tonnes of Inferred resource. |
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| Link to Corporate Website | https://palladiumoneinc.com/ | ||||||||||||||||||
| Industry Classification |
NAICS: 212232 Nickel-copper ore mining 212299 All other metal ore mining ISIC: B0729 Mining of other non-ferrous metal ores |
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| Market Capitalization | $0-$100Million USD | ||||||||||||||||||
| Type of Operations | Exploration and development | ||||||||||||||||||
| Company Headquarters | Toronto, Canada | ||||||||||||||||||
| ESG Accountability | |||||||||||||||||||
| Role and Name of highest authority within company for Environment, Social and Governance strategy, programs and performance |
Derrick Weyrauch, CEO is accountable for ESG with the board of directors and ESG Committee providing oversight. |
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| ESG Reporting Period | |||||||||||||||||||
| Unless otherwise noted, all data contained in this report covers the following period | |||||||||||||||||||
| From | 2022-01-01 | ||||||||||||||||||
| To | 2022-12-31 | ||||||||||||||||||
| External Assurance | |||||||||||||||||||
| Describe your company's policy and practice for seeking external assurance, including whether and how the highest governance body and senior executives are involved | This report is not externally assured. | ||||||||||||||||||
| Has the report been externally assured | No | ||||||||||||||||||
| Financial Reporting Period | |||||||||||||||||||
| Does the financial reporting period align with the sustainability reporting period (eg. calendar vs fiscal) | Yes | ||||||||||||||||||
| Geographic Scope of Report | |||||||||||||||||||
| Unless otherwise noted, the data in this report covers ESG matters related to the following locations of operations |
• Canada • Finland |
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| Tyko & LK map | |||||||||||||||||||
| Ontario projects including Metalcorp projects | |||||||||||||||||||
| Identify notable exclusions of the geographical and/or business scope of the report, and reference of any existing or planned reports that do or will address these (e.g., assets recently divested or acquired, non-managed joint ventures, specific exploration activities, recently closed sites, etc.) |
In the 2022 reporting period, Palladium One Mining did not carry out any activities or investments in its Kostonjarvi project ("KS project"), located in Finland; or its Disreali project, located in Ontario, Canada. As such, this report does not include these projects. In 2022, the Company acquired the Canalask Cu-Ni project in the Yukon, Canada, yet had a limited scope of work in the year; as such, this 2022 report does not include the Canalask project. The Company acquired Metalcorp, including its 5 projects in 2023, as a result, the Company did not include the Hemlo East, Big Lake, Playter, North Rock, or Black Bear projects in this report. There are no other notable exclusions relative to the operations scope of the ESG report for 2022. |
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| Reporting Practice | |||||||||||||||||||
| Provide the full contact details (name, title, address, email and/or phone number) for an individial responsible to adress questions regarding the report or its contents |
Derrick Weyrauch, President, CEO, Director Suite 3704-88 Scott Street, Toronto, ON, M5E 0A9 info@palladiumoneinc.com |
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| Currency | |||||||||||||||||||
| Unless otherwise noted, all financial figures referenced in this report are in the following currency | CAD | ||||||||||||||||||
| Membership of Associations | |||||||||||||||||||
| List of the industry associations, other membership associations, and national or international advocacy organizations in which the organisation participates in a significant role, as well as any economic, environmental, and social charters, principles, or other programmes that the organisation subscribes to or supports, such as the United Nations Global Compact (UNGC), etc. |
Palladium One Mining Inc. has adopted the Principles and several Position Statements from the International Council on Mining and Metals (ICMM). |
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Palladium One Mining is reporting based on the following Standards Bodies: CDP - Carbon Disclosure Project GRI - Global Reporting Initiative GRI Comprehensive - Global Reporting Initiative - Comprehensive GRI Core - Global Reporting Initiative - Lite GRI MM Supplement - Global Reporting Initiative - Mining and Metals Supplement ICMM - International Council on Mining and Metals IFC - International Finance Corporation - Equator Principles ONYEN - Institutional and Investor Questions SASB - Value Reporting Foundation SASB Modified - Value Reporting Foundation - Modified UGC - UN Global Compact - Sustainable Development Goals (SDGs) Mining Principles |
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| Scale of the Organization | |||||||||||||||||||
| Describe how the organization defines its "Operation" |
The Company defines its operations based on the jurisdictions in which it operates. |
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| Report the total number of operations | 2 | ||||||||||||||||||
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The Company has two material exploration operations, one in Finland (LK Project) and the Tyko Project in Canada. |
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| Report the quantity of products or services provided during the reporting period and provide description |
The Company is an early stage exploration Company, as such no products or services were provided during the reporting period. |
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| Fragile and Conflict-Affected Situations | |||||||||||||||||||
| Identify all of the entity's countries of operations that align with the World Bank's list of "Fragile and Conflict-Affected Situations" | None | ||||||||||||||||||
| Mineral Resource Types in Scope | |||||||||||||||||||
| Which of the following mineral resource types are covered by this report |
• Inferred • Indicated |
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The LK project has indicated and inferred resources, while all other projects are pre- resource stage. |
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| Mineral Reserve Types in Scope | |||||||||||||||||||
| Which of the following mineral reserve types are covered by this report | None | ||||||||||||||||||
| Not applicable. | |||||||||||||||||||
| Strategy | |||||||||||||||||||
| Link to company's statements of: Purpose, Vision, Mission and Values; Sustainability/ESG strategy (URL) | |||||||||||||||||||
| ESG Strategy | |||||||||||||||||||
| Provide a statement from the highest governance body or most senior executive of the organization (i.e., CEO, chair, or equivalent senior position) about the relevance of sustainable development to the organization and its strategy for contributing to sustainable development. (CEO's message for this report) | Please see attached document. | ||||||||||||||||||
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| CEO Statement | |||||||||||||||||||
| Derrick Weyrauch, CEO | |||||||||||||||||||
| Material Topics | |||||||||||||||||||
| Governance of Material Topics | |||||||||||||||||||
| Describe the process followed to determine the organization's material topics, including: | |||||||||||||||||||
| How did the organization identify the material topics | |||||||||||||||||||
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The current exploration activities of the Company do not create significant impacts to the local economy, environment and people. Consequently, the Company has not yet established a formal system to identify actual, potential, and negative and positive impacts derived from its operations. As the Company advances into the development stage risk assessments both environmental and social impact assessments will be undertaken. Palladium One Mining's field teams are responsible for managing potential risks within the exploration footprint. Field teams report directly to the VP of Exploration who is responsible for identifying, managing, and reporting material topics. |
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| How did the organization prioritize the impacts based on their significance | Please see comment above. | ||||||||||||||||||
| Specify the stakeholders and experts whose views have informed the process of determining its material topics and provide details |
• Employees and other workers • Governments • Local communities • Shareholders and other capital providers • Suppliers |
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The Vice President of Exploration for the Company is a professional explorationist (P. Geo) with over 2 decades of international experience. He is supported by other geologists that cumulatively have over 100 years of exploration experience. The Company's team of geologists are considered experts and whose views inform the processes used by the Company. |
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| List the organization's material topics |
• Compliance • Overall environmental • Occupational Health and Safety • Diversity and Equal Opportunity • Local Communities • Permitting |
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| List the organization's non-material topics | Other, please specify | ||||||||||||||||||
| See below. | |||||||||||||||||||
| Provide reasons for considering such topics not material, provide details | Other, please specify | ||||||||||||||||||
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Palladium One Mining's projects are all in the exploration stage. As part of its project development phase, Palladium One Mining will conduct baseline environmental and social impact assessments and technical feasibility studies to determine the degree of materiality of the topics listed above for each project that advances towards development. |
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| Report changes to the list of material topics compared to the previous reporting period |
There has been no changes to the Company's material topics from the previous year. |
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| Environment | |||||||||||||||||||
| Climate Change - Stewardship | |||||||||||||||||||
| Oversight | |||||||||||||||||||
| Is there board-level oversight of climate-related issues within your organization | Yes | ||||||||||||||||||
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The Board of Directors has an ESG committee that provides oversight to managing climate- related opportunities and threats. |
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| Responsibility | |||||||||||||||||||
| Provide the highest management-level position(s) or committee(s) with responsibility for climate-related issues | Chief Executive Officer (CEO) | ||||||||||||||||||
| Nature of primary responsibility |
Managing climate-related risks and opportunities |
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| Reporting | |||||||||||||||||||
| Frequency of reporting to the board on climate-related issues |
Other, please specify |
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Management continuously reports climate- related issues to the board. |
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| Incentives | |||||||||||||||||||
| Do you provide incentives for the management of climate-related issues, including the attainment of targets |
No, and we do not plan to introduce them in the next two years |
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| Strategy | |||||||||||||||||||
| Have climate-related risks and opportunities influenced your organization’s strategy and/or financial planning | Yes | ||||||||||||||||||
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Palladium One Mining has focused its business to explore for metals which support the growing global demand for green transportation metals to reduce Green House Gas Emissions |
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| Does your organization have a process for identifying, assessing, and responding to climate-related risks and opportunities | Yes | ||||||||||||||||||
| Risk Assessments | |||||||||||||||||||
| Have you identified any inherent climate-related risks with the potential to have a substantive financial or strategic impact on your business | Not applicable, please specify | ||||||||||||||||||
| None have been identified. | |||||||||||||||||||
| Opportunity Assessments | |||||||||||||||||||
| Have you identified any climate-related opportunities with the potential to have a substantive financial or strategic impact on your business | Yes | ||||||||||||||||||
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Palladium One Mining has climate-related opportunities in that the metals it explores for are used to reduce Greenhouse Gas Emissions. The Company is still in the exploration stage and therefore has yet to fully realize the opportunities which come with further stages of growth. |
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| Greenhouse Gas Emissions - LK | |||||||||||||||||||
| Scope 1 | |||||||||||||||||||
| For your operations, disclose the gross global Scope1 greenhouse gas (GHG) emissions to the atmosphere of the seven GHGs covered under the Kyoto Protocol (tonne CO₂-e) | |||||||||||||||||||
| The total amount of gross global Scope 1 GHG emissions (CO₂-e) (tonne) | 0.650 | ||||||||||||||||||
| The percentage of its gross global Scope 1 GHG emissions that are covered under an emissions-limiting regulation or program that is intended to directly limit or reduce emissions, such as cap-and-trade schemes, carbon tax/fee systems, and other emissions control (e.g., command-and-control approach) and permit-based mechanisms | 100.0000% | ||||||||||||||||||
| Discuss any change in its emissions from the previous reporting period, including whether the change was due to emissions reductions, divestment, acquisition, mergers, changes in output, and/or changes in calculation methodology |
Emissions for LK decreased due to less exploration work performed on the project in 2022 compared to previous year. There was no drilling work performed on the project in 2022 which contributed to a majority of GHG emissions in 2021. |
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| Greenhouse Gas Emissions - Tyko | |||||||||||||||||||
| Scope 1 | |||||||||||||||||||
| For your operations, disclose the gross global Scope1 greenhouse gas (GHG) emissions to the atmosphere of the seven GHGs covered under the Kyoto Protocol (tonne CO₂-e) | |||||||||||||||||||
| The total amount of gross global Scope 1 GHG emissions (CO₂-e) (tonne) | 316.930 | ||||||||||||||||||
| The percentage of its gross global Scope 1 GHG emissions that are covered under an emissions-limiting regulation or program that is intended to directly limit or reduce emissions, such as cap-and-trade schemes, carbon tax/fee systems, and other emissions control (e.g., command-and-control approach) and permit-based mechanisms | 100.0000% | ||||||||||||||||||
| Discuss any change in its emissions from the previous reporting period, including whether the change was due to emissions reductions, divestment, acquisition, mergers, changes in output, and/or changes in calculation methodology |
There was an increase in emissions on the Tyko project from the previous reporting period due to more exploration work including more drilling on the Tyko project in 2022 compared to the previous period. |
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| Greenhouse Gas Emissions - Palladium One Mining Inc. | |||||||||||||||||||
| Scope 1 | |||||||||||||||||||
| For your operations, disclose the gross global Scope1 greenhouse gas (GHG) emissions to the atmosphere of the seven GHGs covered under the Kyoto Protocol (tonne CO₂-e) | |||||||||||||||||||
| The total amount of gross global Scope 1 GHG emissions (CO₂-e) (tonne) | 317.580 | ||||||||||||||||||
| The percentage of its gross global Scope 1 GHG emissions that are covered under an emissions-limiting regulation or program that is intended to directly limit or reduce emissions, such as cap-and-trade schemes, carbon tax/fee systems, and other emissions control (e.g., command-and-control approach) and permit-based mechanisms | 100.0000% | ||||||||||||||||||
| Discuss long-term and short-term strategy or plan to manage its Scope 1 greenhouse gas (GHG) emissions |
Palladium One is an exploration stage Company and its GHG emissions are minimal. The Company strives to produce Green Transportation Metals (PGE-Ni-Cu-Co-Rh) while delivering Net-Zero Greenhouse Gas (GHG) Emissions over the full life of its exploration, development, mining activities and that of the metals it strives to produce. |
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| Scope 2 | |||||||||||||||||||
| If company specific calculations are not available, disclose the gross location-based energy indirect (Scope 2) global greenhouse gas (GHG) emissions to the atmosphere (tonne CO₂-e): | |||||||||||||||||||
| Does the company purchase externally supplied energy (grid electricity) | No | ||||||||||||||||||
| Does the company purchase externally supplied heat | No | ||||||||||||||||||
| Does the company purchase externally supplied steam | No | ||||||||||||||||||
| Does the company purchase externally supplied cooling | No | ||||||||||||||||||
| The total amount of gross global Scope 2 GHG emissions (CO₂-e) (tonne) | 0.000 | ||||||||||||||||||
| Air Emissions - Palladium One Mining Inc. | |||||||||||||||||||
| Report emissions of air pollutants that are released into the atmosphere | |||||||||||||||||||
| Emissions of carbon monoxide, reported as CO (tonne) | 0.000 | ||||||||||||||||||
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Palladium One Mining captures total GHG emissions that include air emissions. As an exploration company with minimal impact to the environment, Palladium One Mining does not segment air emissions from total GHG emissions. |
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| Emissions of oxides of nitrogen (NOx), reported as NOx (tonne) | 0.000 | ||||||||||||||||||
| Emissions of oxides of sulphur (SOx), reported as SOx (tonne) | 0.000 | ||||||||||||||||||
| Emissions of Particulate Matter 10 micrometres or less in diameter (PM₁₀), reported as PM₁₀ (tonne) | 0.000 | ||||||||||||||||||
| Emissions of lead and lead compounds, reported as Pb (tonne) | 0.000 | ||||||||||||||||||
| Emissions of mercury and mercury compounds, reported as Hg (tonne) | 0.000 | ||||||||||||||||||
| Emissions of non-methane Volatile Organic Compounds (VOCs) (tonne) | 0.000 | ||||||||||||||||||
| Energy Management - LK | |||||||||||||||||||
| Total energy consumed in aggregate, in gigajoules (GJ) (hydrocarbons and electricity) including the fuel types used (e.g., biomass, hydro-electric power or bioenergy) | 11.000 | ||||||||||||||||||
| Percentage energy consumed that was supplied by grid electricity | 0.0000% | ||||||||||||||||||
| Percentage of energy consumed that is renewable energy (does not include purchased grid-mix) | 0.0000% | ||||||||||||||||||
| Energy Management - Tyko | |||||||||||||||||||
| Total energy consumed in aggregate, in gigajoules (GJ) (hydrocarbons and electricity) including the fuel types used (e.g., biomass, hydro-electric power or bioenergy) | 4,551.000 | ||||||||||||||||||
| Percentage energy consumed that was supplied by grid electricity | 0.0000% | ||||||||||||||||||
| Percentage of energy consumed that is renewable energy (does not include purchased grid-mix) | 0.0000% | ||||||||||||||||||
| Energy Management - Palladium One Mining Inc. | |||||||||||||||||||
| Total energy consumed in aggregate, in gigajoules (GJ) (hydrocarbons and electricity) including the fuel types used (e.g., biomass, hydro-electric power or bioenergy) | 4,562.000 | ||||||||||||||||||
| Percentage energy consumed that was supplied by grid electricity | 0.0000% | ||||||||||||||||||
| Percentage of energy consumed that is renewable energy (does not include purchased grid-mix) | 0.0000% | ||||||||||||||||||
| Water Management - Stewardship | |||||||||||||||||||
| Quality and Quantity Dependency | |||||||||||||||||||
| Rate the importance (current and future) of freshwater quality and quantity to the success of your business | |||||||||||||||||||
| Direct use importance rating | Have not evaluated | ||||||||||||||||||
| Indirect use importance rating | Have not evaluated | ||||||||||||||||||
| Rate the importance (current and future) of sufficient quantity of recycled, brackish and/or produced water for the success of your business | |||||||||||||||||||
| Direct use importance rating | Have not evaluated | ||||||||||||||||||
| Indirect use importance rating | Have not evaluated | ||||||||||||||||||
| Risk Assessments | |||||||||||||||||||
| Does your organization undertake a water-related risk assessment | No, water-related risks are not assessed | ||||||||||||||||||
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Due to the stage of the Company and amount of water used in the operations, water-related risk assessments are not yet performed, we continue to be in compliance with permitting requirements which include water management. |
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| Have you identified any inherent water-related risks with the potential to have a substantive financial or strategic impact on operations | No | ||||||||||||||||||
| Opportunity Assessments | |||||||||||||||||||
| Have you identified any water-related opportunities with the potential to have a substantive financial or strategic impact on your business | No | ||||||||||||||||||
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Not yet assessed, the Company is still in the exploration stage. |
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| Responsibility | |||||||||||||||||||
| Provide the highest management-level position(s) or committee(s) with responsibility for water-related issues | Chief Executive Officer (CEO) | ||||||||||||||||||
| Policy | |||||||||||||||||||
| Does your organization have a documented water policy | No | ||||||||||||||||||
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The Company has a position statement for water as a part of the Company's Mining Principles. |
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| Reporting | |||||||||||||||||||
| Frequency of reporting to the board on water-related issues | Other, please specify | ||||||||||||||||||
| As required. | |||||||||||||||||||
| Incentives | |||||||||||||||||||
| Do you provide incentives to C-suite employees or board members for the management of water-related issues |
No, and we do not plan to introduce them in the next two years |
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| Strategy | |||||||||||||||||||
| Are water-related issues integrated into any aspects of your long-term strategic business plan | Yes, water-related issues are integrated | ||||||||||||||||||
| If water-related issues are integrated into any aspects of your long-term strategic business plan, please describe further |
Water related issues are a large consideration in the permitting process, as such the Company integrates water issues into long-term planning. |
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| If water-related issues are integrated into any aspects of your long-term strategic business plan, identify the associated long-term time horizon | 5-10 years | ||||||||||||||||||
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Water related issues are integrated into early stage project planning. Post mine water management also requires consideration, in which the time horizon is 20+ years. |
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| Water - LK | |||||||||||||||||||
| Water Management | |||||||||||||||||||
| Disclose the amount of water that was withdrawn from freshwater sources (in thousands of cubic meters) | 0.000 | ||||||||||||||||||
| Analyse and list all operations for water risks and identify activities that withdraw and consume water in locations with High (40–80%) or Extremely High (>80%) Baseline Water Stress as classified by the World Resources Institute’s (WRI) Water Risk Atlas tool, Aqueduct |
The LK project is located near basins that have been classified as having a low overall water risk according to the Water Resource Institute. |
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| Disclose the freshwater withdrawn in locations with High or Extremely High Baseline Water Stress as a percentage of the total water withdrawn | Does Not Apply | ||||||||||||||||||
| Was your organization subject to any fines, enforcement orders, and/or other penalties for water-related regulatory violations | No | ||||||||||||||||||
| Total number of instances of non-compliance, including violations of a technology-based standard and exceedances of quality-based standards | 0 | ||||||||||||||||||
| Water - Tyko | |||||||||||||||||||
| Water Management | |||||||||||||||||||
| Disclose the amount of water that was withdrawn from freshwater sources (in thousands of cubic meters) | 2.870 | ||||||||||||||||||
| Analyse and list all operations for water risks and identify activities that withdraw and consume water in locations with High (40–80%) or Extremely High (>80%) Baseline Water Stress as classified by the World Resources Institute’s (WRI) Water Risk Atlas tool, Aqueduct |
The Tyko project is located near basins that have been classified as having a low overall water risk according to the Water Resource Institute. |
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| Disclose the freshwater withdrawn in locations with High or Extremely High Baseline Water Stress as a percentage of the total water withdrawn | 0.0000% | ||||||||||||||||||
| Was your organization subject to any fines, enforcement orders, and/or other penalties for water-related regulatory violations | No | ||||||||||||||||||
| Total number of instances of non-compliance, including violations of a technology-based standard and exceedances of quality-based standards | 0 | ||||||||||||||||||
| Water - Palladium One Mining Inc. | |||||||||||||||||||
| Water Management | |||||||||||||||||||
| Disclose the amount of water that was withdrawn from freshwater sources (in thousands of cubic meters) | 2.870 | ||||||||||||||||||
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Water withdrawn is estimated based on meters of diamond drilling. Water is withdrawn in drilling activities to cool and lubricate the drill bits, then is recycled back into the ground through settling pits or tanks. The Company complies with government rules and regulations for water usage. |
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| Disclose the amount of water that was consumed in its operations (in thousands of cubic meters) | 0.000 | ||||||||||||||||||
| Disclose the freshwater withdrawn in locations with High or Extremely High Baseline Water Stress as a percentage of the total water withdrawn | 0.0000% | ||||||||||||||||||
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Palladium One Mining does not operate in areas of high or extremely high baseline water stress. The LK and Tyko projects are located near basins that have been classified as having a low overall water risk according to the Water Resource Institute. |
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| Disclose freshwater consumed in locations with High or Extremely High Baseline Water Stress as a percentage of the total water consumed | Does Not Apply | ||||||||||||||||||
| Was your organization subject to any fines, enforcement orders, and/or other penalties for water-related regulatory violations | No | ||||||||||||||||||
| Total number of instances of non-compliance, including violations of a technology-based standard and exceedances of quality-based standards | 0 | ||||||||||||||||||
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All Palladium One Mining exploration sites were in compliance with Finnish and Canadian water-regulations. The Company was not subject to any fines, enforcement orders, or any other instances of non-compliance during the 2022 reporting period. |
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| Waste Management - Palladium One Mining Inc. | |||||||||||||||||||
| Tailings Storage Facilities Management | |||||||||||||||||||
| Does your company manage Tailings Storage Facilities | No | ||||||||||||||||||
| Innovation | |||||||||||||||||||
| Spending on Research, Development, and Technologies for waste management compliance and improvement ($Millions) | 0.00 | ||||||||||||||||||
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At this stage of development, Palladium One Mining does not have waste impact that is relevant for review. At an appropriate stage of project development, Palladium One Mining will undertake a waste management review and address spending on research and development or technologies to address any potential risks. |
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| Describe nature of spending on Research, Development and Technologies for waste management compliance and improvement |
R&D spending on waste management is not applicable to our operations at this stage of our Company. |
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| Biodiversity - Palladium One Mining Inc. | |||||||||||||||||||
| Management Plan | |||||||||||||||||||
| List the environmental and biodiversity management plan(s) implemented at active sites |
Given the Company's stage of development, it currently does not have formal biodiversity management plans. The Company follows applicable laws and regulations in relation to biodiversity in the countries it operates and is required to follow biodiversity standards to obtain permits. The Company has adopted Principles and several Position Statements which include Biodiversity. See link below to Mining Principles document. |
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| Mining Principles | |||||||||||||||||||
| 1.1 Mine lifecycle stages to which the plan(s) apply | Not applicable | ||||||||||||||||||
| 1.2 The topics addressed by the plan(s) | Not applicable | ||||||||||||||||||
|
Not applicable, but when appropriate, the Company intends to address: - Noise impacts - Emissions to air - Discharges to water - Biodiversity - Waste generation - Natural resource consumption -Hazardous chemical useage |
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| 1.3 The underlying references for its plan(s), including whether they are codes, guidelines, standards, or regulations; whether they were developed by the entity, an industry organization, a third-party organization (e.g., a non-governmental organization, a governmental agency, or some combination of these groups) |
Biodiversity standards are often a requirement for obtaining permits in Canada and Finland. The Company intends to comply with applicable permitting standards and to ensure required permits are in place before undertaking exploration or development activities. See the link below to the Company's Core Principles. |
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| Mining Principles | |||||||||||||||||||
| Biodiversity - LK | |||||||||||||||||||
| Impacts | |||||||||||||||||||
| Does access to the site involve traversing a protected area | No | ||||||||||||||||||
|
The Company does not operate in any environmentally protected and/or conservation areas. |
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| Do any of the entities concessions share a watershed with a protected area | No | ||||||||||||||||||
|
The Company does not share in any material way any watersheds with a protected area. |
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| Provide context and description of site access involving traversing protected areas, and/or watersheds shared with a protected area. Include reference to measures in place to assure access, any proactive programs to support the biodiversity of the protected area, and any formal complaints or compliance issues and related steps to resolve |
The Company follows government rules and regulations in Finland and follows permitting requirements related to watershed protection. |
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|
The Company's property rights cover approximately 30,000 hectares of land, logically such a large land position will encroach on watersheds that may drain into protected areas. The Company does not conduct any exploration on protected or conservation lands. |
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| Biodiversity - Tyko | |||||||||||||||||||
| Impacts | |||||||||||||||||||
| Does access to the site involve traversing a protected area | No | ||||||||||||||||||
|
The Company does not operate in any environmentally protected and/or conservation areas. |
|||||||||||||||||||
| Do any of the entities concessions share a watershed with a protected area | No | ||||||||||||||||||
|
The Company does not share in any material way any watersheds with a protected area. |
|||||||||||||||||||
| Provide context and description of site access involving traversing protected areas, and/or watersheds shared with a protected area. Include reference to measures in place to assure access, any proactive programs to support the biodiversity of the protected area, and any formal complaints or compliance issues and related steps to resolve |
The Company follows government rules and regulations and follows permitting requirements related to watershed protection. |
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| Biodiversity - Palladium One Mining Inc. | |||||||||||||||||||
| Impacts | |||||||||||||||||||
| Percentage of proved reserves in sites with protected conservation status or in areas of endangered species habitat | Does Not Apply | ||||||||||||||||||
|
Palladium One Mining does not have proven reserves. |
|||||||||||||||||||
| Percentage of probable reserves in sites with protected conservation status or in areas of endangered species habitat | Does Not Apply | ||||||||||||||||||
|
Palladium One Mining does not have probable reserves. |
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| Social | |||||||||||||||||||
| Scale of the Organization - Palladium One Mining Inc. | |||||||||||||||||||
| Report the total number of direct employees worldwide (exclude contractors) | 5 | ||||||||||||||||||
| Report the total number of male direct employees worldwide (exclude contractors) | 4 | ||||||||||||||||||
| Report the total number of female direct employees worldwide (exclude contractors) | 1 | ||||||||||||||||||
| Report the total number of contract employees worldwide | 0 | ||||||||||||||||||
| Total number of employees worldwide (include contractors) | 5 | ||||||||||||||||||
| Total number of female employees and contractors worldwide | 1 | ||||||||||||||||||
| Female employees and contractors as percentage of total employees and contractors | 20.0000% | ||||||||||||||||||
| Total number of male employees and contractors worldwide | 4 | ||||||||||||||||||
| Male employees and contractors as percentage of total employees and contractors | 80.0000% | ||||||||||||||||||
| Total number of non-binary employees and contractors worldwide | 0 | ||||||||||||||||||
| Non-binary employees and contractors as percentage of total employees and contractors | 0.0000% | ||||||||||||||||||
| Total number of employees and contractors with gender not disclosed | 0 | ||||||||||||||||||
| Employees and contractors with gender not disclosed as percentage of total employees and contractors | 0.0000% | ||||||||||||||||||
| Contractors as percentage of total employed workforce worldwide | 0.0000% | ||||||||||||||||||
| Employee Information - Palladium One Mining Inc. | |||||||||||||||||||
| Report the total number of direct employees by employment type (permanent and temporary), by gender | 5 | ||||||||||||||||||
| Total number of permanent employees | 5 | ||||||||||||||||||
| Total number of permanent employees - female | 1 | ||||||||||||||||||
| Total number of permanent employees - male | 4 | ||||||||||||||||||
| Total number of permanent employees - Non-binary | 0 | ||||||||||||||||||
| Total number of permanent employees - Gender not disclosed | 0 | ||||||||||||||||||
| Total number of temporary employees | 0 | ||||||||||||||||||
| Report the total number of non-guaranteed hours employees by gender | 0 | ||||||||||||||||||
| Total number of non-guaranteed hours employees - female | 0 | ||||||||||||||||||
| Total number of non-guaranteed hours employees - male | 0 | ||||||||||||||||||
| Total number of non-guaranteed hours employees - Non-binary | 0 | ||||||||||||||||||
| Report the total number of employees by employment type (full-time and part-time), by gender | 5 | ||||||||||||||||||
| Report the total number of full-time employees | 3 | ||||||||||||||||||
| Report the total number of part-time employees | 2 | ||||||||||||||||||
| Total number of full-time employees - female | 0 | ||||||||||||||||||
| Total number of part-time employees - female | 1 | ||||||||||||||||||
| Total number of full-time employees - male | 3 | ||||||||||||||||||
| Total number of part-time employees - male | 1 | ||||||||||||||||||
| Total number of full-time employees - Non-binary | 0 | ||||||||||||||||||
| Total number of part-time employees - Non-binary | 0 | ||||||||||||||||||
| Total number of full-time employees - Gender not disclosed | 0 | ||||||||||||||||||
| Total number of part-time employees - Gender not disclosed | 0 | ||||||||||||||||||
| Describe the methodologies and assumptions used to compile the data |
The number of employees in each category is presented using head count methodology at the end of the reporting period. |
||||||||||||||||||
| Are the numbers reported in head count, full-time equivalent (FTE), or using another methodology |
Employment numbers are reported using head count methodology. |
||||||||||||||||||
| Are the numbers reported at the end of the reporting period, as an average across the reporting period, or using another methodology |
The employment numbers reported are the head counts at the end of the reporting period. |
||||||||||||||||||
| Provide contextual information necessary to understand the employment information provided |
Due to its size, the Company cannot offer full- time employment for all of its positions. The Company employs 2 part-time employees whom also engage in other part-time paid work with other organizations. |
||||||||||||||||||
| Describe significant fluctuations, if any, in the number of employees during the reporting period and between reporting periods |
The Company's turnover during the year is, for the most part, due to the competitive labour market in the industry. |
||||||||||||||||||
| Workers who are not employees - Palladium One Mining Inc. | |||||||||||||||||||
| Report the total number of workers who are not employees and whose work is controlled by the organization | 0 | ||||||||||||||||||
| Report the total number of contractors by employment type (permanent and temporary), by gender | 0 | ||||||||||||||||||
|
The Company has defined contract employees as those individuals with contractor or consulting agreements who perform core functions for the Company. The Company only has 3rd party vendors, which have not been defined as contractors. |
|||||||||||||||||||
| Total number of permanent contractors | 0 | ||||||||||||||||||
| Total number of temporary contractors | 0 | ||||||||||||||||||
| Report the total number of contractors by employment type (full-time and part-time), by gender | 0 | ||||||||||||||||||
| Turnover - Palladium One Mining Inc. | |||||||||||||||||||
| Report the total number and rate of employee turnover during the reporting period, by age group, and gender | |||||||||||||||||||
| All Employees | |||||||||||||||||||
| Total number of turnover (the number that left during the period) | 2 | ||||||||||||||||||
| Rate of turnover | 36.3636% | ||||||||||||||||||
| Turnover & Age Breakdown - Palladium One Mining Inc. | |||||||||||||||||||
| Employees aged 30 years old and under | |||||||||||||||||||
| Total number of turnover (the number that left during the period) | 0 | ||||||||||||||||||
| As percent of total employees | 0.0000% | ||||||||||||||||||
| Rate of turnover | Does Not Apply | ||||||||||||||||||
| Employees aged between 30 and 50 years old | |||||||||||||||||||
| Total number of turnover (the number that left during the period) | 2 | ||||||||||||||||||
| As percent of total employees | 80.0000% | ||||||||||||||||||
| Rate of turnover | 44.4444% | ||||||||||||||||||
| Employees over 50 years old | |||||||||||||||||||
| Total number of turnover (the number that left during the period) | 0 | ||||||||||||||||||
| As percent of total employees | 20.0000% | ||||||||||||||||||
| Rate of turnover | 0.0000% | ||||||||||||||||||
| Identify types of employees captured in the turnover rate calculations | All employees on the payroll | ||||||||||||||||||
| Average age of employees | 44 | ||||||||||||||||||
| Diversity and Equal Opportunity | |||||||||||||||||||
| Report the percentage of employees per employee category in each of the following diversity categories | |||||||||||||||||||
| Board of Directors | |||||||||||||||||||
| Total Board of Directors | 5 | ||||||||||||||||||
| Percent Male | 80.0000% | ||||||||||||||||||
| Percent Female | 20.0000% | ||||||||||||||||||
| Percent Non-Binary | 0.0000% | ||||||||||||||||||
| Percent under 30 years of age | 0.0000% | ||||||||||||||||||
| Percent between 30 and 50 years of age | 20.0000% | ||||||||||||||||||
| Percent over 50 years of age | 80.0000% | ||||||||||||||||||
| Senior Management | |||||||||||||||||||
| Total Senior Managers | 4 | ||||||||||||||||||
| Percent Male | 75.0000% | ||||||||||||||||||
| Percent Female | 25.0000% | ||||||||||||||||||
| Percent Non-Binary | 0.0000% | ||||||||||||||||||
| Percent under 30 years of age | 0.0000% | ||||||||||||||||||
| Percent between 30 and 50 years of age | 75.0000% | ||||||||||||||||||
| Percent over 50 years of age | 25.0000% | ||||||||||||||||||
| Salaried (excluding Senior Management) | |||||||||||||||||||
| Total Salaried (excluding Senior Management) | 1 | ||||||||||||||||||
| Percent Male | 100.0000% | ||||||||||||||||||
| Percent Female | 0.0000% | ||||||||||||||||||
| Percent Non-Binary | 0.0000% | ||||||||||||||||||
| Percent under 30 years of age | 0.0000% | ||||||||||||||||||
| Percent between 30 and 50 years of age | 100.0000% | ||||||||||||||||||
| Percent over 50 years of age | 0.0000% | ||||||||||||||||||
| Technical Employees (skilled hourly) | |||||||||||||||||||
| Total Technical Employees | 0 | ||||||||||||||||||
| Production Employees (unskilled hourly) | |||||||||||||||||||
| Total Production Employees | 0 | ||||||||||||||||||
| Contractors: | |||||||||||||||||||
| Total Contractors | 0 | ||||||||||||||||||
| Labour Relations - Palladium One Mining Inc. | |||||||||||||||||||
| Collective Bargaining Agreements | |||||||||||||||||||
| Percentage of total direct employees covered by collective bargaining agreements | 0.0000% | ||||||||||||||||||
|
The Company has no collective bargaining agreements. |
|||||||||||||||||||
| For employees not covered by collective bargaining agreements, report whether the organization determines their working conditions and terms of employment based on collective bargaining agreements that cover its other employees or based on collective bargaining agreements from other organizations |
The Company has no collective bargaining agreements. |
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| Notice Periods | |||||||||||||||||||
| Minimum number of weeks’ notice typically provided to employees and their representatives prior to the implementation of significant operational changes that could substantially affect them | 2 | ||||||||||||||||||
|
Palladium One Mining provides employees a minimum of 2 weeks notice prior to the implementation of significant operational changes that could affect them. |
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| Occupational Health and Safety - Palladium One Mining Inc. | |||||||||||||||||||
| Work-related Injuries | |||||||||||||||||||
| Injuries - For all employees | |||||||||||||||||||
| Number of fatalities as a result of work-related injury | 0 | ||||||||||||||||||
| Rate of fatalities resulting from work-related injury. Note: calculating per 200,000 hours worked | 0.000 | ||||||||||||||||||
| Number of high-consequence work-related injuries (excluding fatalities) | 0 | ||||||||||||||||||
| Rate of high-consequence work-related injuries (excluding fatalities) | 0.000 | ||||||||||||||||||
| Number of recordable work-related injuries | 0 | ||||||||||||||||||
| Rate of recordable work-related injuries | 0.000 | ||||||||||||||||||
| Main types of work-related injury, e.g., confined space, trips, falls, etc |
There have been no work related injuries in any of Palladium One Mining's sites in the 2022 reporting period. |
||||||||||||||||||
| Number of hours worked | 9,327 | ||||||||||||||||||
| Lost Time Injuries (LTIs) | 0 | ||||||||||||||||||
| Lost Time Injuries Rate (LTIR) | 0.000 | ||||||||||||||||||
| Injuries - workers who are not employees but whose work and/or workplace is controlled by the organization | |||||||||||||||||||
| Number of fatalities as a result of work-related injury | 0 | ||||||||||||||||||
| Rate of fatalities resulting from work-related injury. Note: calculating per 200,000 hours worked | 0.000 | ||||||||||||||||||
| Number of high-consequence work-related injuries (excluding fatalities) | 0 | ||||||||||||||||||
| Rate of high-consequence work-related injuries (excluding fatalities) | 0.000 | ||||||||||||||||||
| Number of recordable work-related injuries | 0 | ||||||||||||||||||
| Rate of recordable work-related injuries | 0.000 | ||||||||||||||||||
| Main types of work-related injury, e.g., confined space, trips, falls, etc |
There have been no work related injuries in any of Palladium One Mining's sites in the 2022 reporting period. |
||||||||||||||||||
| Number of hours worked | 0 | ||||||||||||||||||
| Lost Time Injuries (LTIs) | 0 | ||||||||||||||||||
| Lost Time Injuries Rate (LTIR) | 0.000 | ||||||||||||||||||
| Combined (Employees and non-employees, but controlled by the organization): | |||||||||||||||||||
| Total Hours Worked | 9,327 | ||||||||||||||||||
| Total number of all work-related injuries | 0 | ||||||||||||||||||
| Rate of work-related injuries | 0.000 | ||||||||||||||||||
| Total Lost Time Injuries (LTIs) | 0 | ||||||||||||||||||
| Lost Time Injuries Rate (LTIR) | 0.000 | ||||||||||||||||||
| Report the work-related hazards that pose a risk of high-consequence injury, including | |||||||||||||||||||
| How have these hazards been determined |
Workplace activities which pose a risk of high- consequence injury are those related to field work on exploration projects and include the operating of: motor vehicles, heavy equipment, and drill rigs, as well as natural environmental hazards. |
||||||||||||||||||
| Which of these hazards have caused or contributed to high-consequence injuries during the reporting period |
There have been no high-consequence injuries in the reporting period. |
||||||||||||||||||
| Actions taken or underway to eliminate these hazards and minimize risks using the hierarchy of controls |
The Company holds daily morning meetings on site where health and safety issues are discussed, such meetings include both employees and contractors on site. The Company also does random safety site inspections of active drill sites. The Company inspects drill pads after drilling has been completed to check for safety, health and environmental issues. |
||||||||||||||||||
| Whether and, if so, why any workers have been excluded from this disclosure, including the types of worker excluded, e.g., short-term contractors |
Both contractors and employees are included in daily on-site meetings. |
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| Safety Training | |||||||||||||||||||
| Describe any occupational health and safety training provided to workers, including generic training, as well as training on specific work-related hazards, hazardous activities, or hazardous situations | N/A | ||||||||||||||||||
| Disclose the average number of training hours provided to its workforce for health, safety, and emergency management training | |||||||||||||||||||
| Average hours of health, safety, and emergency response training for (a) full-time/direct employees | 0 | ||||||||||||||||||
| Average hours of health, safety, and emergency response training for (b) contract employees | 0 | ||||||||||||||||||
| Security, Human Rights and Rights of Indigenous People - Palladium One Mining Inc. | |||||||||||||||||||
| Describe the nature of any social risks, for all operating countries, that could have a material impact on the operations |
Palladium One Mining operates in countries with low political and social risks. |
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|
In Canada, various indigenous communities and in Finland, various local communities, may exert traditional rights that could affect permitting activities and a 'social license' to operate. |
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| Percentage of probable reserves that are located in or near areas of active conflict | Does Not Apply | ||||||||||||||||||
|
Palladium One Mining does not have probable reserves. |
|||||||||||||||||||
| Percentage of proved reserves that are located in or near areas that are considered to be indigenous peoples’ land | Does Not Apply | ||||||||||||||||||
|
Palladium One Mining does not have any proved reserves. |
|||||||||||||||||||
| Describe its due diligence practices and procedures with respect to human rights |
Palladium One Mining has not adopted any specific practices or procedures; however, respect for human rights is one of the Company's core principals and standards of conduct which is included in the Company's Code of Conduct and Ethics. |
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| Describe due diligence practices and procedures with respect to indigenous rights of communities in which it operates or intends to operate |
In Canada, the Company regularly engages with local indigenous communities as part of its stakeholder outreach initiatives. Additionally, the Company has sought to negotiate a Memorandum of Understanding to help define its interactions locally. |
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| Discuss practices and list procedures while operating in areas of conflict |
Palladium One Mining does not operate in areas of conflict as defined by SASB EM-MM- 210a.3.3. |
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| Community Relations - LK | |||||||||||||||||||
| Programs | |||||||||||||||||||
| Report on community relations programs, objectives and achievements in the past 3 years |
The Company has met with municipal government leaders in the nearby communities of Posio and Taivalkosky next to the LK project as well as published its exploration activities in local newspapers. The Company has met with numerous local landowners. The Company retains a local resident as its principle geological consultant in Finland who has long standing relationships in the area. |
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| Community Relations - Tyko | |||||||||||||||||||
| Programs | |||||||||||||||||||
| Report on community relations programs, objectives and achievements in the past 3 years |
The Company engages with potentially affected First Nations communities in the area on exploration activities and has hosted members of the community on-site to view its exploration activities. |
||||||||||||||||||
| Community Relations - Palladium One Mining Inc. | |||||||||||||||||||
| Artisanal and Small-Scale Mining | |||||||||||||||||||
| Number of company operating sites where artisanal and small-scale mining (ASM) takes place on, or adjacent to, the site (not controlled by company/unauthorized) | 0 | ||||||||||||||||||
| Percentage of company operating sites where artisanal and small-scale mining (ASM) takes place on, or adjacent to, the site | 0.0000% | ||||||||||||||||||
| Report the associated risks and the actions taken to manage and mitigate these risks |
The Company does not operate in areas where artisanal and small-scale mining takes place. |
||||||||||||||||||
| Community Relations - LK | |||||||||||||||||||
| Discuss the processes, procedures, and practices to manage risks and opportunities associated with the rights and interests of communities in areas where it conducts business |
As detailed above, the Company continues to engage and communicate with the local communities about its exploration activities for the project. The Company engages a local resident as a consultant in a key role for the project. The Company is required to notify local governments of its exploration plans before undertaking exploration programs. |
||||||||||||||||||
| Community Relations - Tyko | |||||||||||||||||||
| Discuss the processes, procedures, and practices to manage risks and opportunities associated with the rights and interests of communities in areas where it conducts business |
The Company is committed to engaging First Nations communities in its exploration activities. The Company employs vendors and contractors from the local First Nations communities wherever possible. |
||||||||||||||||||
| Community Relations - LK | |||||||||||||||||||
| Risks and Opportunities | |||||||||||||||||||
| Disclose the total number of site shutdowns or project delays due to non-technical factors | 0 | ||||||||||||||||||
| Disclose the total aggregate duration (in days) of site shutdowns or project delays due to non-technical factors | 0 | ||||||||||||||||||
| Discuss specific delays including associated costs, root cause and corrective actions for resolved delay, and status of ongoing delays | Not applicable. | ||||||||||||||||||
| Community Relations - Tyko | |||||||||||||||||||
| Risks and Opportunities | |||||||||||||||||||
| Disclose the total number of site shutdowns or project delays due to non-technical factors | 0 | ||||||||||||||||||
| Disclose the total aggregate duration (in days) of site shutdowns or project delays due to non-technical factors | 0 | ||||||||||||||||||
| Discuss specific delays including associated costs, root cause and corrective actions for resolved delay, and status of ongoing delays | Not applicable. | ||||||||||||||||||
| Community Relations - Palladium One Mining Inc. | |||||||||||||||||||
| Risks and Opportunities | |||||||||||||||||||
| Disclose the total number of site shutdowns or project delays due to non-technical factors | 0 | ||||||||||||||||||
|
In 2022, there have been no site shutdowns or project delays due to non-technical factors in any of the Company's sites. |
|||||||||||||||||||
| Disclose the total aggregate duration (in days) of site shutdowns or project delays due to non-technical factors | 0 | ||||||||||||||||||
| Governance | |||||||||||||||||||
| Policy commitments | |||||||||||||||||||
| Provide a description of the organization’s policy commitments for responsible business conduct | |||||||||||||||||||
|
Palladium One Mining has adopted a number of principles and policies that define its value system. These policies include the Code of Conduct and Ethics, Diversity & Inclusion Policy, Insider Trading Policy, and Whistleblower Procedure. Palladium One Mining's Code of Conduct and Ethics expresses the corporate commitment to maintaining the highest ethical standards of performance, defining the Company we are, the values that govern and guide our business and the ethical conduct we expect of its members. Palladium One also has adopted the principles and several position statements from the International Council on Mining and Metals (ICMM) in the Company's Mining Principles document which guides the Company in forming its commitments. The Company is committed to ensuring that all personnel (including the Board members, employees and contractors) know and uphold our Code, Principles, Policies and related Procedures. See below links to the Company's Policies and Core Principles. Company Policies Mining Principles |
|||||||||||||||||||
| What are (if any) the authoritative intergovernmental instruments that the commitments reference |
Palladium One Mining's Code of Conduct and Ethics references the Foreign Corrupt Practices Act (“FCPA”), the Corruption of Foreign Public Officials Act (CFPOA) in Canada, and the AntiCorruption Cooperation Network (ACCN) in Finland. Palladium One Mining's Mining Principles Policy has also adopted the Principles and several Position Statements from the International Council on Mining and Metals (ICMM). |
||||||||||||||||||
| Do the commitments stipulate applying the Precautionary Principle or Approach (see instructions). | No | ||||||||||||||||||
| Do the commitments stipulate respecting human rights | Yes | ||||||||||||||||||
| Provide links to the policy commitments, if publicly available, or, if the policy commitments are not publicly available, explain the reason for this |
Please see the link below to our Code of Conduct and Ethics. |
||||||||||||||||||
| Code of Conduct and Ethics | |||||||||||||||||||
| Report the level at which each policy commitment was approved within the organization, including whether this is the most senior level |
The Company's Code of Conduct and Ethics was approved by the ESG Committee and the Board of directors. |
||||||||||||||||||
| To what extent the policy commitments apply to the organization’s activities and to its business relationships |
Palladium One's Code of Conduct and Ethics applies to all organizational activities, Board members, officers and employees of the Company and its contractors, consultants, temporary workers and related parties. |
||||||||||||||||||
| Embedding policy commitments | |||||||||||||||||||
| Describe how the organization embeds each of its policy commitments for responsible business conduct throughout its activities and business relationships | |||||||||||||||||||
| How are responsibilities allocated in order to implement the commitments across different levels within the organization |
Palladium One's Board of Directors is responsible for the development and approval as well as oversight of the Company's policy commitments. At this stage of development, all Palladium One employees are responsible for implementing these commitments within the organization. |
||||||||||||||||||
| How are the commitments integrated into organizational strategies, operational policies, and operational procedures |
Palladium One is a junior exploration company. The Board of Directors is tasked with integrating policy commitments into organizational strategies. Employees are tasked with integrating these commitments into operational policies, and operational procedures. |
||||||||||||||||||
| What implementation training does the organization provide |
At this stage of development, training for policy commitments is not required for Palladium One employees. As the Company grows, it will evaluate the need for training on Company policies. |
||||||||||||||||||
| Governance structure and composition | |||||||||||||||||||
| Describe its governance structure, including committees of the highest governance body; e.g., the Board of Directors, the Executives, the Board Environment Committee, Board Safety Committee, the Advisory Committee, etc. |
Palladium One Mining's Board of Directors is composed of 5 members 3 of which are independent. The Board is led by non-executive Chairman Lawrence Roulston. The following are committees of the Board of Directors: 1. Audit Committee 2. Compensation Committee 3. Environmental, Social & Governance Committee |
||||||||||||||||||
| List the committees of the highest governance body that are responsible for decision making on and overseeing the management of the organization’s impacts on the economy, environment, and people; e.g., the Board of Directors, the Executives, the Board Environment Committee, Board Safety Committee, the Advisory Committee, etc |
Palladium One Mining's Environmental, Social & Governance Committee is responsible for advising and making recommendations to the Board on economic, environmental, and social topics. |
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| Delegation of responsibility for managing impacts | |||||||||||||||||||
| Describe whether the highest governance body has appointed any senior executives with responsibility for the management of organization’s impacts on the economy, environment, and people e.g., is it part of the Governance structure of the company, the CFO or internal audit reporting to the Board | Yes | ||||||||||||||||||
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The CEO is the executive-level position with responsibility for economic, environmental and social topics. |
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| Describe whether the highest governance body has delegated responsibility for the management of impacts to other employees | The CEO reports to the Board of Directors. | ||||||||||||||||||
| Governance structure and composition | |||||||||||||||||||
| Describe the composition of the highest governance body and its committees by: | |||||||||||||||||||
| Number of executive members (non-independent) | 2 | ||||||||||||||||||
| Number of non-executive members (non-independent) | 0 | ||||||||||||||||||
| Number of independent members | 3 | ||||||||||||||||||
| Less than 3 years of tenure of members on the governance body | 1 | ||||||||||||||||||
| 3-6 years of tenure of members on the governance body | 4 | ||||||||||||||||||
| 6-9 years of tenure of members on the governance body | 0 | ||||||||||||||||||
| More than 10 years of tenure of members on the governance body | 0 | ||||||||||||||||||
| Number of other significant positions and commitments held by each member, and the nature of the commitments |
Please refer to the attached document for a description of Palladium One Mining's Board of Director's significant positions and commitments. |
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| Board of Directors Biographies | |||||||||||||||||||
| Number of Male governance body members | 4 | ||||||||||||||||||
| Number of Female governance body members | 1 | ||||||||||||||||||
| Number of members from under-represented social groups | 0 | ||||||||||||||||||
| Description of competencies relating to economic, environmental, and social topics |
Director Mrs. Bee Moscoso is the Chair of the ESG Committee. |
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Mrs. Bee Moscoso has extensive experience in ESG topics that are material to the Company such as managing legal, regulatory, permitting and contractual matters during exploration, development, operations and mine closures, and has held responsibilities for coordinating government and public relations, and developing social outreach programs to foster positive relations with stakeholders, including long-term agreements with indigenous communities and private landowners. Her background also includes providing legal and governance oversight to major mining operations. Please refer to the attached document for a description of all of Palladium One Mining's Board of Director's competencies relating to economic, environmental and social topics. |
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| Board of Directors Biographies | |||||||||||||||||||
| Description of stakeholder representation |
Palladium One Mining engages with communities that may be affected by its projects, shareholders, employees , government authorities, and vendors and suppliers. |
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| Highest Governance Body | |||||||||||||||||||
| Describe the nomination and selection processes for the highest governance body and its committees |
The Board determines new nominees to the Company's board of directors. The nominees are generally the result of recruitment efforts by the Board members, including both formal and informal discussions among Board members. The Company conducts the due diligence, reference and background checks on any suitable candidate. Nominees are interviewed by the Board and are asked to join the Board where consensus regarding the nominee is obtained. During each Annual General Meeting of the Company, board members are elected by the Company's shareholders. Committee nominees are selected from existing board members based on their specific expertise and are appointed to a committee once board consensus is obtained. |
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| Report the criteria used for nominating and selecting highest governance body members | |||||||||||||||||||
| Discuss whether and how views of the stakeholders (including shareholders) are involved |
Annually, shareholders formally vote and elect the Company's board members at the Company's Annual General Meeting. The Board therefore considers shareholder's views in new member selection. |
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| Discuss whether and how diversity is considered |
Palladium One has a Diversity and Inclusion Policy which is applicable to board members. The Board is also responsible for the oversight of the Company's commitments regarding this policy. |
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| Do you have a diversity policy and if so, provide details, link to the policy or attach the file |
The Company's has a Diversity and Inclusion Policy (link below). |
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| Diversity and Inclusion Policy | |||||||||||||||||||
| Discuss whether and how independence is considered |
The Company maintains a majority of board members as being independent whereby the independent board members are not employees or consultants of the Company. |
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| Discuss whether and how competencies relevant to the impacts of the organization are considered |
New board nominees must have a track record in general business management and special expertise in an area of strategic interest to the Company. |
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| Chair of the highest governance body | |||||||||||||||||||
| Is the chair of the highest governance body also a senior executive in the organization (non-independent) | No | ||||||||||||||||||
| Conflicts of Interest | |||||||||||||||||||
| Describe the processes for the highest governance body to ensure that conflicts of interest are prevented and mitigated |
As per the Code of Conduct and Ethics, Palladium One Mining personnel are prohibited from engaging in acts that could result in conflicts of interest without prior authorization of the board and/or executive management. For further details, please refer to the Code of Conduct and Ethics at the link below. |
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| Code of Conduct and Ethics | |||||||||||||||||||
| Report whether conflicts of interest are disclosed to stakeholders, including, as a minimum, | Yes | ||||||||||||||||||
| Are there conflicts of interest related to: cross-board membership | Yes | ||||||||||||||||||
| Are there conflicts of interest related to: cross-shareholding with suppliers and other stakeholders | Yes | ||||||||||||||||||
| Are there conflicts of interest related to: existence of controlling shareholder | |||||||||||||||||||
| N/A | |||||||||||||||||||
| Are there conflicts of interest related to: related parties, their relationships, transactions, and outstanding balances | Yes | ||||||||||||||||||
| Collective knowledge of highest governance body | |||||||||||||||||||
| Report measures taken to advance the collective knowledge, skills, and experience of the highest governance body on sustainable development., e.g., board training |
Palladium One Mining's Environmental, Social and Governance Committee's mandate requires the committee to make recommendations to the Board in relation to directors’ orientation and continuing education. Mrs. Bee Moscoso, a director of the board and chairwoman of the ESG Committee is an expert in the field of ESG. Please refer to the link below for further information. |
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Environmental, Social and Governance Committee Charter |
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| Evaluation of Highest Governance Body | |||||||||||||||||||
| Describe actions taken in response to the evaluations, including changes to the composition of the highest governance body and organizational practices | A formal evaluation did not take place in 2022. | ||||||||||||||||||
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Environmental, Social and Governance Committee Charter |
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| Transparency | |||||||||||||||||||
| Describe the role of the highest governance body and of senior executives in developing, approving, and updating the organization’s purpose, value or mission statements, strategies, policies, and goals related to sustainable development |
The Board of Directors is the highest governance body with the Environmental, Social and Governance Committee providing advice and recommendations to the Board relating to Environmental, Social and Governance matters. Please refer to the link below for further information. |
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Environmental, Social and Governance Committee Charter |
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| Describe the role of the highest governance body in overseeing the organization’s due diligence and other processes to identify and manage the organization’s impacts on the economy, environment, and people |
Palladium One Mining's Environmental, Social and Governance Committee provides oversight of management for: (i) the establishment of an ESG framework and Key Performance Indicators as it relates to the Company’s exploration and development goals, (ii) the management of health, safety, loss prevention, operational security, sustainable development, environmental, community relations, human rights, anti-corruption and anti-bribery, government relations and communications issues relating to the Company and, (iii) the Company compliance with ESG laws, regulations, or other obligations, including compliance with the Company’s Code of Conduct and Ethics and its ESG policies, procedures and initiatives. Please refer to the link below for further information. |
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Environmental, Social and Governance Committee Charter |
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| Describe whether and how the highest governance body engages with stakeholders to support these processes |
The board is updated on stakeholder concerns through updates at board meetings and through other Board communications. The Board of Directors of Palladium One Mining receives information derived from stakeholder engagement from the CEO and the VP of Exploration who report on potential impacts, risks, and opportunities on a regular basis. |
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| Describe how the highest governance body considers the outcomes of these processes |
Stakeholder concerns are reviewed and evaluated by the Board. When merited, these concerns are actively addressed. |
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| Ethics | |||||||||||||||||||
| Ethics and Integrity | |||||||||||||||||||
| Describe how individuals can seek advice on implementing the organization’s policies and practices for responsible business conduct |
Individuals can seek advice from any of the Company's senior management. |
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| Describe the mechanisms for individuals to: raise concerns about the organization’s business conduct |
The Company has a Whistleblower procedure where individuals can confidentially and anonymously report complaints and concerns regarding accounting, internal controls, auditing matters or other suspected or identified violations to our Code of Conduct and Ethics without the fear of victimization, discrimination or disadvantage. See below link. |
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| Whistleblower Procedure | |||||||||||||||||||
| Ethics - LK | |||||||||||||||||||
| Compliance with laws and regulations | |||||||||||||||||||
| Report the total number of significant instances of non-compliance with laws and regulations that occurred during the reporting period, and a breakdown of this total by: | 0 | ||||||||||||||||||
| Number of instances for which fines were incurred | 0 | ||||||||||||||||||
| Number of instances for which non-monetary sanctions were incurred | 0 | ||||||||||||||||||
| Report the monetary value of fines for instances of noncompliance with laws and regulations that were paid during the reporting period ($Million) | 0 | ||||||||||||||||||
| Total number of fines paid for instances of non-compliance with laws and regulations that occurred in the current reporting period | 0 | ||||||||||||||||||
| Total monetary value of fines for instances of non-compliance with laws and regulations that occurred in previous reporting periods ($Million) | 0 | ||||||||||||||||||
| Ethics - Finland | |||||||||||||||||||
| Compliance with laws and regulations | |||||||||||||||||||
| Report the total number of significant instances of non-compliance with laws and regulations that occurred during the reporting period, and a breakdown of this total by: | 0 | ||||||||||||||||||
| Number of instances for which fines were incurred | 0 | ||||||||||||||||||
| Number of instances for which non-monetary sanctions were incurred | 0 | ||||||||||||||||||
| Report the monetary value of fines for instances of noncompliance with laws and regulations that were paid during the reporting period ($Million) | 0 | ||||||||||||||||||
| Total number of fines paid for instances of non-compliance with laws and regulations that occurred in the current reporting period | 0 | ||||||||||||||||||
| Total monetary value of fines for instances of non-compliance with laws and regulations that occurred in previous reporting periods ($Million) | 0 | ||||||||||||||||||
| Ethics - Tyko | |||||||||||||||||||
| Compliance with laws and regulations | |||||||||||||||||||
| Report the total number of significant instances of non-compliance with laws and regulations that occurred during the reporting period, and a breakdown of this total by: | 0 | ||||||||||||||||||
| Number of instances for which fines were incurred | 0 | ||||||||||||||||||
| Number of instances for which non-monetary sanctions were incurred | 0 | ||||||||||||||||||
| Report the monetary value of fines for instances of noncompliance with laws and regulations that were paid during the reporting period ($Million) | 0 | ||||||||||||||||||
| Total number of fines paid for instances of non-compliance with laws and regulations that occurred in the current reporting period | 0 | ||||||||||||||||||
| Total monetary value of fines for instances of non-compliance with laws and regulations that occurred in previous reporting periods ($Million) | 0 | ||||||||||||||||||
| Ethics - Canada | |||||||||||||||||||
| Compliance with laws and regulations | |||||||||||||||||||
| Report the total number of significant instances of non-compliance with laws and regulations that occurred during the reporting period, and a breakdown of this total by: | 0 | ||||||||||||||||||
| Number of instances for which fines were incurred | 0 | ||||||||||||||||||
| Number of instances for which non-monetary sanctions were incurred | 0 | ||||||||||||||||||
| Report the monetary value of fines for instances of noncompliance with laws and regulations that were paid during the reporting period ($Million) | 0 | ||||||||||||||||||
| Total number of fines paid for instances of non-compliance with laws and regulations that occurred in the current reporting period | 0 | ||||||||||||||||||
| Total monetary value of fines for instances of non-compliance with laws and regulations that occurred in previous reporting periods ($Million) | 0 | ||||||||||||||||||
| Ethics - Palladium One Mining Inc. | |||||||||||||||||||
| Compliance with laws and regulations | |||||||||||||||||||
| Report the total number of significant instances of non-compliance with laws and regulations that occurred during the reporting period, and a breakdown of this total by: | 0 | ||||||||||||||||||
| Number of instances for which fines were incurred | 0 | ||||||||||||||||||
| Number of instances for which non-monetary sanctions were incurred | 0 | ||||||||||||||||||
| Report the total number of fines for instances of non-compliance with laws and regulations that were paid during the reporting period | 0 | ||||||||||||||||||
| Report the monetary value of fines for instances of noncompliance with laws and regulations that were paid during the reporting period ($Million) | 0 | ||||||||||||||||||
| Total number of fines paid for instances of non-compliance with laws and regulations that occurred in the current reporting period | 0 | ||||||||||||||||||
| Total monetary value of fines for instances of non-compliance with laws and regulations that occurred in the current reporting period ($) | 0 | ||||||||||||||||||
| Total number of fines paid for instances of non-compliance with laws and regulations that occurred in previous reporting periods | 0 | ||||||||||||||||||
| Total monetary value of fines for instances of non-compliance with laws and regulations that occurred in previous reporting periods ($Million) | 0 | ||||||||||||||||||
| Describe the significant instances of non-compliance |
Palladium One Inc. is in compliance with applicable Canadian and Finnish environmental laws and/or regulations. |
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| Ethics | |||||||||||||||||||
| Describe the management system and due diligence procedures for assessing and managing corruption and bribery risks internally and associated with business partners in its value chain |
As per the Company's Code of Conduct and Ethics, Palladium One Mining does not tolerate any act of corruption, such as offering or paying bribes, direct or indirectly, or anything of value to public officials to get an unfair advantage, retain business, divert funds, property or business opportunities; or improperly using Company assets. This definition does not exclude other concepts and definitions of corruption provided for in applicable laws. Palladium One Mining has a whistleblower mechanism to report and properly address potential acts of corruption and bribery. Please refer to the links below for further information. |
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Code of Conduct and Ethics Whistleblowing Procedure |
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| Anti-Corruption | |||||||||||||||||||
| Communication and Training | |||||||||||||||||||
| Total number of governance body members that have received training on anti-corruption, broken down by region | 0 | ||||||||||||||||||
| Anti-corruption training of employees by category: | 0 | ||||||||||||||||||
| Remuneration | |||||||||||||||||||
| Report which of the following remuneration policies apply to the highest governance body and senior executives: | |||||||||||||||||||
| Fixed pay | Yes | ||||||||||||||||||
| Variable pay | Yes | ||||||||||||||||||
| Performance-based pay | No | ||||||||||||||||||
| Equity-based pay | Yes | ||||||||||||||||||
| Bonuses | Yes | ||||||||||||||||||
| Deferred and vested shares | No | ||||||||||||||||||
| Sign-on bonuses | No | ||||||||||||||||||
| Recruitment incentive payments | No | ||||||||||||||||||
| Termination payments | Yes | ||||||||||||||||||
| Clawbacks | No | ||||||||||||||||||
| Retirement benefits, including the difference between benefit schemes and contribution rates for the highest governance body, senior executives, and all other employees | No | ||||||||||||||||||
| Describe how the remuneration policies for members of the highest governance body and senior executives relate to their objectives and performance in relation to the management of the organization’s impacts on the economy, environment, and people |
Economic, environmental and social topics are not yet incorporated into remuneration policies. |
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| Describe the process for designing its remuneration policies and for determining remuneration |
The Company's compensation philosophy for executive officers follows three underlying principles: (a) to provide compensation packages that encourage and motivate performance (b) to be competitive with other companies of similar size and scope of operations so as to attract and retain talented executives; and (c) to align the interests of its executive officers with the long-term interests of the Company and its shareholders through stock-related programs. |
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| Are independent members of the highest governance body or an independent remuneration committee overseeing the remuneration process | Yes | ||||||||||||||||||
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The Company has a Compensation Committee of the board which has 3 members, 2 of which are independent. |
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| How the views of stakeholders (including shareholders) regarding remuneration are sought and taken into consideration |
Any new share-based incentive program requires a shareholder vote to approve the program at the Company's Annual General Meeting. |
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| Describe whether remuneration consultants are involved in determining remuneration and, if so, whether they are independent of the organization, its highest governance body and senior executives | Not Applicable | ||||||||||||||||||
| Report the results of votes of stakeholders (including shareholders) on remuneration policies and proposals, if applicable | N/A | ||||||||||||||||||
| Stakeholder Engagement | |||||||||||||||||||
| Report the purpose of the stakeholder engagement |
Palladium One has implemented an outreach program that includes engagement with authorities, communities, and investors. The purpose of engagement is to provide information and receive feedback on stakeholder interests and concerns regarding the Company's operations. |
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| Tax | |||||||||||||||||||
| Describe the approach to stakeholder engagement and management of stakeholder concerns related to tax, including | |||||||||||||||||||
| The approach to engagement with tax authorities |
The Company's approach is to be fully compliant to tax rules and regulations in all jurisdictions that the Company operates. |
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| The approach to public policy advocacy on tax |
The Company does not actively advocate for public policy changes to tax issues. |
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| The processes for collecting and considering the views and concerns of stakeholders, including external stakeholders |
The Company publishes quarterly financial statements as well as contact details to address any comments by stakeholders. The Company has a website with contact details. |
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