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| Published on July 29, 2025 | ||||||||||||||||||||||||
| Rio2 (the "Company" or the "Organization") is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as a successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. Rio2 and its wholly owned subsidiary, Fenix Gold Limitada, are companies with the highest environmental standards and responsibility with the firm conviction that it is possible to develop mining projects that respect the three pillars (Social, Environment, Economics) of responsible development. As related companies, we reaffirm our commitment to applying environmental standards beyond those that are mandated by regulators, seeking to protect and preserve the environment of the territories in which we operate in. | ||||||||||||||||||||||||
| Disclaimer and Forward Looking Statements | ||||||||||||||||||||||||
| Company Profile | ||||||||||||||||||||||||
| Organizational Profile | ||||||||||||||||||||||||
| Name | RIO2 Limited | |||||||||||||||||||||||
| Describe nature of activities, brands, products and services | Rio2 is a Canadian-listed junior mining company focused on acquiring and developing mining projects for operations in Latin America. | |||||||||||||||||||||||
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Rio2 is currently focused on bringing its greenfield Fenix Gold Project in Chile to construction and production within the shortest possible timeframe, based on a staged development strategy. The project will initially operate as a medium-sized mine to generate cash flow, and the Company expects to subsequently expand to an optimal size, incorporating improvements in technology and addressing climate change. The Fenix Gold Project comprises ~5 million oz of gold and is currently in the construction phase after Rio2 successfully completed a debt and equity financing for the mine’s construction in October 2024. It is expected that Fenix Gold will produce ~100,000 oz of gold per year in Stage 1, with the potential to increase to 300,000 oz of gold per year in Stage 2. First gold pour is scheduled for Q1 2026. |
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| Link to Corporate Website | https://www.rio2.com/ | |||||||||||||||||||||||
| Industry Classification |
NAICS: 21222 Gold and silver ore mining |
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| Market Capitalization | $100 Million up to $1 Billion USD | |||||||||||||||||||||||
| Type of Operations | Exclusively non-producing operations | |||||||||||||||||||||||
| Company Headquarters | Vancouver, Canada | |||||||||||||||||||||||
| ESG Accountability | ||||||||||||||||||||||||
| Role of highest authority within the company for Environment, Social and Governance strategy, programs and performance | Board of Directors (BoD) | |||||||||||||||||||||||
| The name of the highest authority, if applicable | Alex Black, Executive Chairman of the Board | |||||||||||||||||||||||
| GRI Reporting Requirements | ||||||||||||||||||||||||
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Choose the statement as to how the organization has aligned their reporting utilizing GRI Standards |
The organization has reported in accordance with the GRI Standards for the period defined below | |||||||||||||||||||||||
| ESG Reporting Period | ||||||||||||||||||||||||
| Unless otherwise noted, all data contained in this report covers the following period | ||||||||||||||||||||||||
| From | 2024-01-01 | |||||||||||||||||||||||
| To | 2024-12-31 | |||||||||||||||||||||||
| 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 | The Company has no active operations and hence has not obtained external assurance. | |||||||||||||||||||||||
| Are the highest governance body and senior executives involved | Yes | |||||||||||||||||||||||
| Describe how the highest governance body and senior executives are involved | The report is reviewed and approved by the Board of Directors of Rio2 on recommendation of the HSE Committee. | |||||||||||||||||||||||
| Has the report been externally assured | No | |||||||||||||||||||||||
| Financial Reporting Period | ||||||||||||||||||||||||
| Does the financial reporting period align with the sustainability reporting period (e.g. calendar vs fiscal) | Yes | |||||||||||||||||||||||
| Geographic Scope of Report | ||||||||||||||||||||||||
| Unless otherwise noted, the data in this report covers sustainability matters related to the following locations of operations | Chile | |||||||||||||||||||||||
| 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.) | There are no geographic or operational exclusions in this report. | |||||||||||||||||||||||
| Reporting Practice | ||||||||||||||||||||||||
| Provide a list of all legal entities included in its sustainability reporting |
Fenix Gold Limitada Lince SA |
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| Does the organization have audited consolidated financial statements or financial information filed on public record | Yes | |||||||||||||||||||||||
| If the organization has audited consolidated financial statements or financial information filed on public record, specify the differences between the list of entities included in its financial reporting and the list included in its sustainability reporting | Rio2 has chosen to report results only for its operational subsidiaries, Fenix Gold Limitada and Lince S.A. | |||||||||||||||||||||||
| If the organization consists of multiple entities, explain the approach used for consolidating the information | Rio2's financial statements disclose information on its five subsidiaries. For sustainability reporting and materiality issues, Rio2 discloses information on the two legal entities reported above. | |||||||||||||||||||||||
| Does the approach involve adjustments to information for minority interests | No | |||||||||||||||||||||||
| How does the approach take into account mergers, acquisitions, and disposal of entities or parts of entities | Yes, Rio2's financial statements include account mergers, acquisitions, and disposal of entities or parts of entities as applicable to the company. | |||||||||||||||||||||||
| Does the approach used for consolidating the information differ across the disclosures in this Standard (GRI 2) and across material topics | No | |||||||||||||||||||||||
| Please refer to the answer above. | ||||||||||||||||||||||||
| Report what are the restatements and the reasons for restatements, if any, from previous reporting periods | No restatement | |||||||||||||||||||||||
| Explain the effect of such restatements, if any | N/A | |||||||||||||||||||||||
| Provide the full contact details (name, title, address, email and/or phone number) for an individual responsible to address questions regarding the report or its contents |
Alejandra Gomez, SVP Corporate Communications. alejandra.gomez@rio2.com |
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| Currency | ||||||||||||||||||||||||
| Unless otherwise noted, all financial figures referenced in this report are in the following currency | USD | |||||||||||||||||||||||
| 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. |
Fenix Gold, a subsidiary of Rio2, is an associate of the following entities: The National Mining Society of Chile (SONAMI), an institution that brings together and represents large, medium and small-scale metallic and non-metallic mining activity in Chile. Corporation for the Development of Atacama (CORPROA), a non-profit private institution made up of regional companies and entrepreneurs whose purpose is to design, promote, execute and support sustainable regional development strategies that raise the quality of life of the population in the Atacama Region. ACHS (Chilean Safety Association), a non-profit private law corporation whose role is to develop risk prevention programs and provide health coverage and compensation associated with work accidents, travel accidents, and occupational diseases. CORESEMIN (Regional Committee for Mining Safety), a non-profit institution, aimed at disseminating and promoting the culture of Safety, Occupational Health and Sustainability, in all areas of the Atacama Region. The member companies of CORESEMIN Atacama correspond to mining companies and mining services. |
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| Scale of the Organization | ||||||||||||||||||||||||
| Nature of corporate ownership | Publicly owned | |||||||||||||||||||||||
| Legal form of corporate ownership | Incorporated entity | |||||||||||||||||||||||
| Describe how the organization defines its "Operation" and the sector(s) in which it is active | For the purpose of this report, the "Operation" is defined as the Fenix Gold development project. | |||||||||||||||||||||||
| Report the total number of operations | 1 | |||||||||||||||||||||||
| The organization's definition used for ‘mine site’ | For this report, Rio2 considers as ‘the mine’ the Fenix Gold Mine, currently being built in the Project, located approximately 117 Km (straight-line) northeast of Copiapó City (III Region Capital) and approximately 50 Km west of Chile´s border with Argentina. The Project is located along the western flanks of the Chilean Andes at a mean elevation of approximately 4,500 m. | |||||||||||||||||||||||
| Mine site #1: Name of the site | Fenix Gold Project. | |||||||||||||||||||||||
| Mine site #1: Geographic location (country and coordinates) | The UTM coordinates, Datum WGS84 of the central point of the Project are located at: E 479,261 m and N 7,012,760 m, approximately 20 Km south of Kinross Gold’s La Coipa Au-Ag mine (resumed operations in 2022), 60 Km north of Kinross’s Maricunga Gold Mine (currently on residual leaching), and 40 Km north of Hochschild’s Volcan Gold Project. | |||||||||||||||||||||||
| Mine site #1: Size (hectares) | 37,291.000 | |||||||||||||||||||||||
| 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 |
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| Mineral Reserve Types in Scope | ||||||||||||||||||||||||
| Which of the following mineral reserve types are covered by this report |
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| Strategy | ||||||||||||||||||||||||
| Corporate Purpose, Vision, Mission and Values; statements of sustainability/ESG strategy |
https://www.rio2.com/responsibility MISSION To develop and operate mining projects efficiently, safely, and responsibly through the best team of people, promoting a culture of integration and collaboration. PURPOSE Overcome the challenges of modern mining with practical and innovative solutions, inclusion, and empathy, for a better world. VISION To be a mining company respected for its perseverance in developing innovative and responsible projects in the Americas, generating sustainable value for our shareholders, employees, and society. VALUES - Respect -Integrity -Collaboration -Innovation -Perseverance |
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| 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 Letter from Andrew Cox, President & CEO of Rio2 Limited. | |||||||||||||||||||||||
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| Letter from the CEO | ||||||||||||||||||||||||
| Material Topics | ||||||||||||||||||||||||
| Governance of Material Topics | ||||||||||||||||||||||||
| Describe the process followed to determine the organization's material topics |
Material topics were determined through the four phases described below. Phase 1: Understanding the organization’s context. Standards, guides, and all relevant documentation applicable to the national and international mining sectors were reviewed and analyzed. Phase 2: Identification of actual and potential impacts. A review and evaluation of the actual and potential project risks was completed, resulting from substantial dialogue with stakeholders and technical, environmental, and economic analyses. Phase 3: Stakeholder Engagement. Stakeholder concerns and expectations were taken into account, and a consultation process was carried out with communities, government authorities, and other relevant actors. Stage 4: Prioritization of Material Issues. The most significant and relevant issues reported were identified by the Company’s Communications, Environmental, and Social teams. |
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| How did the organization identify the material topics |
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| How did the organization prioritize the impacts based on their significance | Materiality was determined by the Company's management's experience in mine project development and information obtained from various external consultancy firms at the Company's request while producing the Environmental Impact Study for the Fenix Gold Project. The Company also used public information as a reference. | |||||||||||||||||||||||
| Specify the stakeholders and experts whose views have informed the process of determining its material topics and provide details |
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List the organization's material topics |
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In 2024, Rio2 was focused on obtaining permits and financing for the construction of the Fenix Gold Mine, having obtained approval for the Project's Environmental Impact Assessment, and only undertook an internal assessment of its material topics. The Company will undertake a formal assessment when reasonable according to its stage of development. For the reporting period, the material topics identified internally were: Impacts on Biodiversity, Indigenous Rights, and Cultural Land Use. The material topic to be considered for the near future is the "use and supply of water," deemed essential to the operation stage. |
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| Report changes to the list of material topics compared to the previous reporting period | There have been no changes to the material topics compared to the previous reporting period. | |||||||||||||||||||||||
| Material Topic #1: | Biodiversity | |||||||||||||||||||||||
| An explanation of why the topic is material; describe the actual and potential, negative and positive impacts on the economy, environment, and people, including impacts on their human rights | The Fenix Gold Project intersects with ecologically sensitive high-altitude habitats that support both endemic reptiles and vulnerable macrofauna, including guanacos, vicuñas, and chinchillas. These species are vital to the region´s biodiversity and are recognized under national conservation laws. | |||||||||||||||||||||||
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Where the impacts occur |
In the proyect area where infrastructure development and mining activities intersect with critical habitats for protected species. | |||||||||||||||||||||||
| The organization’s involvement with the impacts. e.g., whether the organization has caused or contributed to the impacts, or is directly linked to the impacts through its business relationships | Fenix Gold has a direct influence through its operations and infrastructure siting. | |||||||||||||||||||||||
| Report whether the organization is involved with the negative impacts through its activities or as a result of its business relationships, and describe the activities or business relationships | Organization's activities | |||||||||||||||||||||||
| Describe/provide a link to the corporate policies or commitments regarding the topic | Fenix Gold complied with Chile’s Environmental Framework Law (Ley 19.300) and the procedural requirements of the Servicio de Evaluación Ambiental (SEA) by conducting updated ecological baseline studies and resubmitting a revised Environmental Impact Assessment (EIA). These actions were taken specifically to address deficiencies in biodiversity data, particularly concerning endemic reptile species and macrofauna such as guanacos, vicuñas, and chinchillas. The company also followed protocols to assess potential impacts on habitats classified as sensitive or critical and incorporated monitoring and mitigation measures into the approved EIA. The SEA accepted the revised documentation and granted the Environmental Qualification Resolution in 2024, indicating full compliance with biodiversity-related obligations under Chilean law. | |||||||||||||||||||||||
| Explain how the organization manages the topic and actions to prevent or mitigate potential negative impacts |
*Controlled disturbance of reptiles (individual deterrence/hazing) in linear works. • Expanded fauna studies during the EIA appeal • Relocation and monitoring plans for endemic reptiles • Avoidance of ecologically sensitive zones • Monitoring protocols and baseline updates |
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| Describe actions to address actual negative impacts, including actions to provide for or cooperate in their remediation |
*Controlled disturbance of reptiles (individual deterrence/hazing) in linear works. *Relocation and monitoring plans for endemic reptiles. *No remediation projects have yet been initiated. Future actions will depend on monitoring outcomes. |
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| Describe actions to manage actual and potential positive impacts | None reported to date. Opportunities exist for partnerships with local conservation entities. | |||||||||||||||||||||||
| Report the processes used to track the effectiveness of the actions; |
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| The Company has follow-up and monitoring plans for fauna. The results of monitoring and follow-up must be reported on an ongoing basis to the competent authorities, in accordance with the provisions of the RCA. | ||||||||||||||||||||||||
| Report the goals, targets, and indicators used to evaluate progress; | Not formally disclosed | |||||||||||||||||||||||
| Report the effectiveness of the actions, including progress toward the goals and targets; any related adjustments | Too early in the implementation phase to report effectiveness. | |||||||||||||||||||||||
| Lessons learned and how these have been incorporated into the organization’s operational policies and procedures | Too early in the implementation phase to report effectiveness. | |||||||||||||||||||||||
| Describe how engagement with stakeholders has informed the actions taken and how it has informed whether the actions have been effective | EIA revisions incorporated input from environmental regulators. | |||||||||||||||||||||||
| Material Topic #2: | Human Rights and Rights of Indigenous People | |||||||||||||||||||||||
| An explanation of why the topic is material; describe the actual and potential, negative and positive impacts on the economy, environment, and people, including impacts on their human rights |
Why the topic is relevant: A 7-km stretch of land in the project's access zone is shared, where the Colla indigenous communities carry out the cultural activities of transhumance and medicinal plant collection. See attached: resolution of the Indigenous consultation process. (In Spanish) |
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| Indigenous Consultation Process Resolution | ||||||||||||||||||||||||
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Where the impacts occur |
At the intersection of the CH 31 international highway / project entrance area up to the entrance to the Bailahuen ravine. See attached map |
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| Fenix Gold - Bailahuen Ravine Entrnace Map | ||||||||||||||||||||||||
| The organization’s involvement with the impacts. e.g., whether the organization has caused or contributed to the impacts, or is directly linked to the impacts through its business relationships | Impacts arise directly from road use, traffic patterns, and land transformation under Fenix Gold's control. | |||||||||||||||||||||||
| Report whether the organization is involved with the negative impacts through its activities or as a result of its business relationships, and describe the activities or business relationships | Organization's activities | |||||||||||||||||||||||
| Describe/provide a link to the corporate policies or commitments regarding the topic |
Fenix Gold complied with Chilean environmental regulations governing Indigenous engagement as required under Article 29 of the Environmental Framework Law (Ley 19.300). In alignment with these legal provisions, the company implemented formal consultation processes with six Colla Indigenous communities, including the provision of project information in an accessible format, opportunities for dialogue, and the integration of culturally sensitive areas into project design. These consultations were formally supervised and verified by the Servicio de Evaluación Ambiental (SEA), culminating in the project's Environmental Qualification Resolution in 2023. This demonstrates compliance with national legal obligations related to Indigenous rights and the cultural use of land. See attached links for the final results of the Indigenous Consultation Process and final agreements (Spanish only). |
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Protocolo de Acuerdo Final Sinchi Wayra Protocolo de Acuerdo Final Comunidades Sol Naciente, Pastos Grandes, Comuna de Copiapó Protocolo de Acuerdo Final Runa Urka Protocolo de Acuerdo Final Pai Ote |
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| Explain how the organization manages the topic and actions to prevent or mitigate potential negative impacts |
Early Engagement Process (2019-2020) Consultation with six Colla communities (2020-2021) Culturally sensitive areas integrated into the design. Ongoing dialogue and fulfillment of commitments made with the communities |
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| Describe actions to address actual negative impacts, including actions to provide for or cooperate in their remediation | See attached file: EIA Social Obligations Compliance Program | |||||||||||||||||||||||
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| Social - Compliance Program | ||||||||||||||||||||||||
| Describe actions to manage actual and potential positive impacts | See attached file: Voluntary Commitments Compliance Program | |||||||||||||||||||||||
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| Voluntary Commitments Compliance Program | ||||||||||||||||||||||||
| Report the processes used to track the effectiveness of the actions; |
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| Report the goals, targets, and indicators used to evaluate progress; | None publicly reported. | |||||||||||||||||||||||
| Report the effectiveness of the actions, including progress toward the goals and targets; any related adjustments | Too early in the implementation phase to report effectiveness. | |||||||||||||||||||||||
| Lessons learned and how these have been incorporated into the organization’s operational policies and procedures | Early engagement in dialogue with communities helped address different perspectives for improvement in project design. | |||||||||||||||||||||||
| Describe how engagement with stakeholders has informed the actions taken and how it has informed whether the actions have been effective |
The company undertook formal consultation with six Colla Indigenous communities in accordance with Chilean environmental law, specifically under Article 29 of Law 19.300. These consultations were conducted between 2020 and 2021 and included notification, delivery of project information, the opportunity to submit feedback, and integration of culturally sensitive areas into the project design. This process was overseen by the Servicio de Evaluación Ambiental (SEA), and its compliance was verified during the EIA approval process in 2023. |
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| Material Topic #3: | Water and Effluents | |||||||||||||||||||||||
| An explanation of why the topic is material; describe the actual and potential, negative and positive impacts on the economy, environment, and people, including impacts on their human rights | For the current reporting period, water use and storage are not a material issue. However, this will change significantly during the operation phase. The project is projected to consume a substantial amount of water, which will be trucked into a hyper-arid region. This will inevitably lead to increased logistical emissions and poses potential reputational challenges. The water for the process will be treated industrial wastewater sourced from the commune of Copiapó. We are also actively evaluating alternative water sources from Stage 2 desalination projects | |||||||||||||||||||||||
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Where the impacts occur |
Water source zones, public roads, and on-site process circuits. | |||||||||||||||||||||||
| The organization’s involvement with the impacts. e.g., whether the organization has caused or contributed to the impacts, or is directly linked to the impacts through its business relationships | Fenix Gold will be responsible for water acquisition and consumption. | |||||||||||||||||||||||
| Report whether the organization is involved with the negative impacts through its activities or as a result of its business relationships, and describe the activities or business relationships | Organization's activities | |||||||||||||||||||||||
| Describe/provide a link to the corporate policies or commitments regarding the topic |
Fenix Gold complied with Chilean environmental regulations governing water use and sourcing, including the Environmental Framework Law (Law 19,300) and relevant sectoral standards for industrial water consumption and third-party supply. The company declared all water volumes and supply logistics in its Environmental Impact Assessment (EIA) and confirmed no groundwater extraction would occur for the process. All water used will be obtained from authorized third-party suppliers and delivered by truck, aligning with applicable licensing and contractual requirements. Additionally, the company has a plan to explore the use of desalinated water as a long-term water security solution. |
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| Explain how the organization manages the topic and actions to prevent or mitigate potential negative impacts |
• Use of treated wastewater • Operational water tracking • Closed-loop systems • Zero discharge from process plant • Evaluation of desalination pipeline |
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| Describe actions to address actual negative impacts, including actions to provide for or cooperate in their remediation |
• Closed-loop systems • Zero discharge from process plant • The project will not utilize any local surface or groundwater |
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| Describe actions to manage actual and potential positive impacts | The pipeline initiative offers potential for long-term efficiency and decarbonization. | |||||||||||||||||||||||
| Report the processes used to track the effectiveness of the actions; |
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| Report the goals, targets, and indicators used to evaluate progress; | It will be defined for the operation phase. | |||||||||||||||||||||||
| Report the effectiveness of the actions, including progress toward the goals and targets; any related adjustments | Pending future phases | |||||||||||||||||||||||
| Lessons learned and how these have been incorporated into the organization’s operational policies and procedures | Reliance on trucking poses long-term scaling risks. Pipeline planning is a response to logistical and environmental concerns | |||||||||||||||||||||||
| Describe how engagement with stakeholders has informed the actions taken and how it has informed whether the actions have been effective | Water transport impacts were raised in Indigenous consultations. | |||||||||||||||||||||||
| Describe commitments to provide for or cooperate in the remediation of negative impacts that the organization identifies it has caused or contributed to | As stipulated in the Environmental Impact Assessment (“EIA”) for the construction and operation of its Fenix Gold Project (“Fenix Gold” or “the Project”) located in the Atacama region of Chile and approved by the Chilean authority in April 2023. | |||||||||||||||||||||||
| The total number of grievances filed through the mechanism during the reporting period | 0 | |||||||||||||||||||||||
| The number of grievances that were addressed (or reviewed) during the reporting period | 0 | |||||||||||||||||||||||
| Supply Chain | ||||||||||||||||||||||||
| Provide a description of the organization’s supply chain, including the types of suppliers (e.g., equipment, consumables, logistics, brokers, contractors, wholesalers, etc.) | During the reporting period, Rio2 focused on obtaining construction permits and financing for construction of the Fenix Gold Mine. A supply chain will be established during the construction and operation stages of the project. | |||||||||||||||||||||||
| Environment | ||||||||||||||||||||||||
| Climate Change - Stewardship | ||||||||||||||||||||||||
| Strategy | ||||||||||||||||||||||||
| Have climate-related risks and opportunities influenced your organization’s strategy and/or financial planning | Yes | |||||||||||||||||||||||
| The Company engaged an external independent party to advise and evaluate the Impact of Climate Change on the Project. This report was prepared using TCFD and EP4 standard guidance in 2023. Financial planning and details will be provided once the Project enters the production phase. | ||||||||||||||||||||||||
| Does your organization have a process for identifying, assessing, and responding to climate-related risks and opportunities | No-we are planning to introduce a climate-related risk management process in the next two years | |||||||||||||||||||||||
| Is a system in place to calculate the financial implications or costs, or to make revenue projections | No | |||||||||||||||||||||||
| Plans and timeline to develop systems to calculate the financial implications or costs, or to make revenue projections | The implementation of these systems is scheduled to commence during the operational phase. | |||||||||||||||||||||||
| Risk Assessments | ||||||||||||||||||||||||
| Have you identified any inherent climate-related risks with the potential to have a substantive financial or strategic impact on your business | Yes | |||||||||||||||||||||||
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Risk 1 - Identify the most material (financial or strategic) climate-related risk to your organization |
Access to the project may be blocked due to Extreme Weather Events. | |||||||||||||||||||||||
| Where in the value chain does the risk driver occur | Direct operations | |||||||||||||||||||||||
| What type of risk | Climate-related physical risk (acute physical risk) | |||||||||||||||||||||||
| Risk classification | Acute Physical - Increased severity and frequency of extreme weather events, such as storms, cyclones and floods | |||||||||||||||||||||||
| Time horizon of risk | Medium-term | |||||||||||||||||||||||
| Likelihood of impact | More likely than not | |||||||||||||||||||||||
| Magnitude of impact | Medium-low | |||||||||||||||||||||||
| The financial implications of the risk before action is taken (currency, Thousands) | ||||||||||||||||||||||||
| Financial implications will depend on the length of time required to reestablish Project access due to road damage from severe weather events. | ||||||||||||||||||||||||
| Explain your financial estimates of impact | It does not apply to the reporting period as the Project is not in the production stage. | |||||||||||||||||||||||
| Primary potential financial impact |
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| The methods used to manage the risk | Not Applicable | |||||||||||||||||||||||
| The costs of actions taken to manage the risk (currency, Thousands) | ||||||||||||||||||||||||
| Financial implications will be calculated and projected for the construction and operation phases of the Project. | ||||||||||||||||||||||||
| If the reporting organization does not have a system in place to calculate the financial implications or costs, or to make revenue projections, please report its plans and timeline to develop the necessary systems to do so | It does not apply to the reporting period. | |||||||||||||||||||||||
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Risk 2 - Identify the most material (financial or strategic) climate-related risk to your organization |
Extreme weather event (snowfall) covering project components, rendering them inoperative. | |||||||||||||||||||||||
| Where in the value chain does the risk driver occur | Direct operations | |||||||||||||||||||||||
| What type of risk | Climate-related physical risk (acute physical risk) | |||||||||||||||||||||||
| Risk classification |
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|||||||||||||||||||||||
| Time horizon of risk | Medium-term | |||||||||||||||||||||||
| Likelihood of impact | Unlikely | |||||||||||||||||||||||
| Magnitude of impact | Medium-low | |||||||||||||||||||||||
| The financial implications of the risk before action is taken (currency, Thousands) | ||||||||||||||||||||||||
| Currently undefined as the Project is not in operation. | ||||||||||||||||||||||||
| Explain your financial estimates of impact | For the construction and operation phases of the Project, financial implications will be calculated and projected. | |||||||||||||||||||||||
| Primary potential financial impact |
|
|||||||||||||||||||||||
| The methods used to manage the risk | Not Applicable | |||||||||||||||||||||||
|
The costs of actions taken to manage the risk (currency, Thousands) |
||||||||||||||||||||||||
| Financial implications will be calculated and projected for the construction and operation phases of the Project. | ||||||||||||||||||||||||
| If the reporting organization does not have a system in place to calculate the financial implications or costs, or to make revenue projections, please report its plans and timeline to develop the necessary systems to do so | Financial implications and cost will be calculated for the construction and operation phases of the Project. | |||||||||||||||||||||||
| Opportunity Assessments | ||||||||||||||||||||||||
| Have you identified any climate-related opportunities with the potential to have a substantive financial or strategic impact on your business | Yes | |||||||||||||||||||||||
|
Opportunity 1 - Identify the most material (financial or strategic) climate-related opportunity to your organization |
Energy opportunities with a lower carbon footprint. | |||||||||||||||||||||||
| Where in the value chain does the opportunity driver occur | Direct operations | |||||||||||||||||||||||
| Opportunity type and classification | Energy source: Other, please specify | |||||||||||||||||||||||
| There is an opportunity to connect to the national energy grid (Carrera Pinto Substation) as well as to renewable energy sources or those with a lower carbon footprint. | ||||||||||||||||||||||||
| Opportunity time horizon | Medium-term | |||||||||||||||||||||||
| Opportunity likelihood | About as likely as not | |||||||||||||||||||||||
| Magnitude of impact | Medium-high | |||||||||||||||||||||||
| The financial implications of the opportunity before action is taken (currency, Thousands) | ||||||||||||||||||||||||
| Currently undefined as it requires a trade-off study, cost-benefit, and return on investment timeframe. It is considered an improvement to the Project once it is in operation. | ||||||||||||||||||||||||
| Explain your financial estimates of impact | Financial implications and cost will be calculated for the construction and operation phases of the Project. | |||||||||||||||||||||||
| Primary potential financial impact driver | Reduced direct costs | |||||||||||||||||||||||
| The methods used to manage the opportunity | Use of renewable and lower carbon footprint energy | |||||||||||||||||||||||
|
The costs of actions taken to manage the opportunity (currency, Thousands) |
0 | |||||||||||||||||||||||
| Currently unknown. | ||||||||||||||||||||||||
|
Opportunity 2 - Identify the most material (financial or strategic) climate-related opportunity to your organization |
Transporting water to the project by pipelines. | |||||||||||||||||||||||
| Where in the value chain does the opportunity driver occur | Direct operations | |||||||||||||||||||||||
| Opportunity type and classification | Resource efficiency: Use of more efficient modes of transport | |||||||||||||||||||||||
| Opportunity time horizon | Medium-to-long term | |||||||||||||||||||||||
| Opportunity likelihood | More likely than not | |||||||||||||||||||||||
| Magnitude of impact | Medium-high | |||||||||||||||||||||||
| The financial implications of the opportunity before action is taken (currency, Thousands) | ||||||||||||||||||||||||
| Currently unknown. | ||||||||||||||||||||||||
| Explain your financial estimates of impact |
Requires a trade-off study, cost benefit and return on investment timeframe. |
|||||||||||||||||||||||
| Primary potential financial impact driver | Reduced direct costs | |||||||||||||||||||||||
| The methods used to manage the opportunity | Other, please specify | |||||||||||||||||||||||
| Using pipeline water transportation instead of trucking would lower emissions and minimize the impact of transit flow. | ||||||||||||||||||||||||
| The costs of actions taken to manage the opportunity (currency, Thousands) | ||||||||||||||||||||||||
| Currently unknown. | ||||||||||||||||||||||||
| Financial position, financial performance and cash flows | ||||||||||||||||||||||||
| Describe how the substantive changes in operations, revenue, or expenditure due to climate change affect or could affect the organization's workers and suppliers, its contributions to economic development, and its payments to governments | There is no evidence that the indicated changes can impact workers, suppliers, contributions to economic development, or payments to governments. | |||||||||||||||||||||||
| Climate resilience | ||||||||||||||||||||||||
| Does the organization have a climate change adaptation plan in place | No | |||||||||||||||||||||||
| If climate-adaptation plan is in place, provide a summary of the plan and the progress made in implementing the plan | In the Atacama Region, a government plan for climate change adaptation in the mining sector is in place. This plan will be assessed to determine future strategies for the Fenix Gold project. | |||||||||||||||||||||||
| Describe how engagement with stakeholders has informed the climate adaptation plan | Does not apply. | |||||||||||||||||||||||
| Describe the climate change-related scenarios used to assess the resilience of the organization’s strategy, including a well-below 2°C, preferably 1.5°C, scenario | Does not apply. | |||||||||||||||||||||||
| Greenhouse Gas Emissions | ||||||||||||||||||||||||
| Scope 1 | ||||||||||||||||||||||||
| Fuel related methane (CH₄) (tonnes) | 0.028 | |||||||||||||||||||||||
| Fuel related nitrous oxide (N₂O) (tonnes) | 0.006 | |||||||||||||||||||||||
| Carbon dioxide (CO₂) (tonnes CO₂-e) | 702.707 | |||||||||||||||||||||||
| Methane (CH₄) (tonnes CO₂-e) | 0.700 | |||||||||||||||||||||||
| Nitrous oxide (N₂O) (tonnes CO₂-e) | 1.788 | |||||||||||||||||||||||
| Hydrofluorocarbon-23 (CHF₃) (tonnes CO₂-e) | 0.000 | |||||||||||||||||||||||
| Hydrofluorocarbon-32 (CH₂F₂) (tonnes CO₂-e) | 0.000 | |||||||||||||||||||||||
| Sulphur hexafluoride (SF₆) (tonnes CO₂-e) | 0.000 | |||||||||||||||||||||||
| Nitrogen trifluoride (NF₃) (tonnes CO₂-e) | 0.000 | |||||||||||||||||||||||
| Perfluoro methane (CF₄) (tonnes CO₂-e) | 0.000 | |||||||||||||||||||||||
| Perfluoro ethane (C₂F₆) (tonnes CO₂-e) | 0.000 | |||||||||||||||||||||||
| Perfluoro butane (C₄F₁₀) (tonnes CO₂-e) | 0.000 | |||||||||||||||||||||||
| Perfluoro hexane (C₆F₁₄) (tonnes CO₂-e) | 0.000 | |||||||||||||||||||||||
| The total amount of gross global Scope 1 GHG emissions (CO₂-e) (tonnes) | 705.195 | |||||||||||||||||||||||
| GHG emissions for the 2024 ESG Scorecard are calculated based on estimated fuel and energy consumption. EPA conversion factors were utilized to calculate Scope 1 GHG emissions (CO₂-e) (tonne). | ||||||||||||||||||||||||
| 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 | 0.0000% | |||||||||||||||||||||||
| In 2024, Chile did not implement an emissions-limiting regulation or program. | ||||||||||||||||||||||||
| Discuss any change in its Scope 1 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 (i.e. any changes the entity made to the measurement approach, inputs and assumptions during the reporting period and the reasons for those changes, if any) | There has been an increase in emissions from the use of fossil fuels in the machinery due to the start of the construction phase for the Fenix Gold Mine in November 2024. | |||||||||||||||||||||||
| The calculation of GHG emissions has been based on the quantities of fuels used since November 2024. | ||||||||||||||||||||||||
| In the case that current reporting of GHG emissions to the CDP or other entity (e.g., a national regulatory disclosure program) differs in terms of the scope and consolidation approach used, describe the differences and provide those reported emissions. | It does not apply to the Project during the reporting period. | |||||||||||||||||||||||
| The entity may discuss the calculation methodology for its emissions disclosure, such as if data are from continuous emissions monitoring systems (CEMS), engineering calculations, or mass balance calculations | Mass balance calculations were used for Scope 1 emissions disclosure. | |||||||||||||||||||||||
|
Source of the emission factors and the global warming potential (GWP) rates used, or a reference to the GWP source |
GHG emissions calculations for this ESG report are based on US EPA conversion factors recommended by the GHG Protocol. | |||||||||||||||||||||||
| Scope 2 | ||||||||||||||||||||||||
| If company specific calculations are not available, provide information following the gross location-based energy indirect (Scope 2) global greenhouse gas (GHG) emissions approach: | ||||||||||||||||||||||||
| Does the company purchase externally supplied energy (grid electricity) | Yes | |||||||||||||||||||||||
| Report the total electricity purchased from external suppliers for the reporting year in gigajoules (GJ) | 487,336.000 | |||||||||||||||||||||||
| In what jurisdiction is the source of energy (utility) located | Chile | |||||||||||||||||||||||
|
Conversion factor (see Guidance): |
0.200 | |||||||||||||||||||||||
|
Source: Ministerio de Energía de Chile, 2024 Available at: http://energiaabierta.cl/visualizaciones/factor-de-emision-sic-sing/ |
||||||||||||||||||||||||
| Total amount of Scope 2 GHG emissions from purchased electricity (CO₂-e) (tonnes) | 27,074.244 | |||||||||||||||||||||||
| 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 location based global Scope 2 GHG emissions (tonnes CO₂-e) | 27,074.244 | |||||||||||||||||||||||
| Consolidation approach for emissions | Operational control | |||||||||||||||||||||||
| Air Emissions | ||||||||||||||||||||||||
| Emissions Management | ||||||||||||||||||||||||
| Disclose the management approach regarding Emissions | The estimated emissions for the construction phase were detailed in the Environmental Impact Assessment (EIA) for the Fenix project, (refer to Annex 4.1 of the EIA and the updates in Addendum 2). This construction phase is expected to last one year. However, the reporting period only covers two months of construction (November to December 2024). Therefore, the EIA estimates have been prorated to reflect this shorter reporting period, even though these estimates are considered conservative. | |||||||||||||||||||||||
| Emissions of air pollutants that are released into the atmosphere - carbon monoxide, reported as CO (tonnes) | 1.177 | |||||||||||||||||||||||
| Emissions of air pollutants that are released into the atmosphere - oxides of nitrogen (NOx), reported as NOx (tonnes) | 5.078 | |||||||||||||||||||||||
| Emissions of air pollutants that are released into the atmosphere - oxides of sulphur (SOx), reported as SOx (tonnes) | 0.027 | |||||||||||||||||||||||
|
Emissions of air pollutants that are released into the atmosphere - Particulate Matter 10 micrometres or less in diameter (PM₁₀), reported as PM₁₀ (tonnes) |
89.400 | |||||||||||||||||||||||
| Emissions of air pollutants that are released into the atmosphere - lead and lead compounds, reported as Pb (tonnes) | 0.000 | |||||||||||||||||||||||
| Emissions of air pollutants that are released into the atmosphere - mercury and mercury compounds, reported as Hg (tonnes) | 0.000 | |||||||||||||||||||||||
| Emissions of air pollutants that are released into the atmosphere - non-methane Volatile Organic Compounds (VOCs) (tonnes) | 0.000 | |||||||||||||||||||||||
| Discuss the calculation methodology for emissions disclosure and specify if the data is from: | Mass balance calculations | |||||||||||||||||||||||
| Energy | ||||||||||||||||||||||||
| Energy Consumption | ||||||||||||||||||||||||
| Total energy consumption within the organization (gigajoules, GJ) | 497,440.000 | |||||||||||||||||||||||
| Report the energy owned and controlled by the organization consumed in gigajoules for the following | 497,440.000 | |||||||||||||||||||||||
| Electricity purchased/generated for consumption (gigajoules, GJ) | 487,336.000 | |||||||||||||||||||||||
| Heating purchased/generated for consumption (gigajoules, GJ) | 0.000 | |||||||||||||||||||||||
| Cooling purchased/generated for consumption (gigajoules, GJ) | 0.000 | |||||||||||||||||||||||
| Steam purchased/generated for consumption (gigajoules, GJ) | 0.000 | |||||||||||||||||||||||
| Non-renewable fuel consumed (gigajoules, GJ) | 10,104.000 | |||||||||||||||||||||||
| Renewable fuel consumed (gigajoules, GJ) | 0.000 | |||||||||||||||||||||||
| Fuel types used from non-renewable sources | Diesel oil and liquefied gas. | |||||||||||||||||||||||
| Fuel types used from renewable sources | 0 | |||||||||||||||||||||||
| Source of the conversion factors used |
0,0386 (GJ/liter) Diesel 3,6 (GJ/MWh) Electricity 25,53 (GJ/m3) GLP |
|||||||||||||||||||||||
| Energy Management | ||||||||||||||||||||||||
| Total energy consumed in aggregate, in gigajoules (GJ) (hydrocarbons and electricity) including the fuel types used (e.g., biomass, hydro-electric power or bioenergy) | 497,439.000 | |||||||||||||||||||||||
| Percentage energy consumed that was supplied by grid electricity | 97.9690% | |||||||||||||||||||||||
| Percentage of energy consumed that was renewable energy (does not include purchased grid-mix) | 0.0000% | |||||||||||||||||||||||
| Water Management - Stewardship | ||||||||||||||||||||||||
| Quality and Quantity Dependency | ||||||||||||||||||||||||
| Rate and explain the importance (current and future) of freshwater quality and quantity to the success of your business: | Fresh water will be used for human consumption only and the total amount needed for the project is not critical since recycled industrial water from Copiapó will also be utilized for the mining process. The quality of the water is not a primary concern, as water that does not meet optimal quality standards can still be used. | |||||||||||||||||||||||
| Direct use importance rating | Important | |||||||||||||||||||||||
| The Fenix Gold Project will use retreated industrial water from Copiapó. | ||||||||||||||||||||||||
| Indirect use importance rating | Neutral | |||||||||||||||||||||||
| Rate and explain the importance (current and future) of sufficient quantity of recycled, brackish and/or produced water for the success of your business: | The Fenix Gold project recognizes the importance of water, which is why it will utilize retreated industrial water. | |||||||||||||||||||||||
| Direct use importance rating | Vital | |||||||||||||||||||||||
| The Fenix Gold Project will use retreated industrial water from Copiapó. | ||||||||||||||||||||||||
| Indirect use importance rating | Important | |||||||||||||||||||||||
| Risk Assessments | ||||||||||||||||||||||||
| Does your organization undertake a water-related risk assessment | Yes, water-related risks are assessed | |||||||||||||||||||||||
| Have you identified any inherent water-related risks with the potential to have a substantive financial or strategic impact on operations | Yes, only within our direct operations | |||||||||||||||||||||||
|
The Company has identified the two potential risks below. 1.Regulations becoming more restrictive. 2. Increased costs for the supply of water. |
||||||||||||||||||||||||
| Risk 1: Identify water-related risk in your direct operations with material financial or strategic impacts | 1.Regulations becoming more restrictive. | |||||||||||||||||||||||
| Type of risk | Regulatory | |||||||||||||||||||||||
| Primary risk driver | Physical - Increased water stress | |||||||||||||||||||||||
| Primary potential impact | Increased production costs | |||||||||||||||||||||||
| Risk timeframe | More than 6 years | |||||||||||||||||||||||
| Magnitude of potential impact | Medium | |||||||||||||||||||||||
| Likelihood of potential impact | About as likely as not | |||||||||||||||||||||||
| Potential impact financial figure and explanation | Increased water costs, and the need to use desalinated water. | |||||||||||||||||||||||
| Primary response | Secure alternative water supply | |||||||||||||||||||||||
| Cost of response and description of response | Desalinated water is available in Copiapó. The cost of desalinated water is estimated to be three times the cost of the current water supply. | |||||||||||||||||||||||
| Risk 2: Identify water-related risk in your direct operations with material financial or strategic impacts | 2. Increased costs for the supply of water. | |||||||||||||||||||||||
| Type of risk | Other, please specify | |||||||||||||||||||||||
| Opposition to the use of water supplied by Nueva Atacama. | ||||||||||||||||||||||||
| Primary risk driver | Physical - Increased water scarcity | |||||||||||||||||||||||
| Primary potential impact | Increased operating costs | |||||||||||||||||||||||
| Risk timeframe | More than 6 years | |||||||||||||||||||||||
| Magnitude of potential impact | Medium | |||||||||||||||||||||||
| Likelihood of potential impact | About as likely as not | |||||||||||||||||||||||
| Potential impact financial figure and explanation | Increased water costs, and the need to use desalinated water. | |||||||||||||||||||||||
| Primary response | Secure alternative water supply | |||||||||||||||||||||||
| Cost of response and description of response | Unknown | |||||||||||||||||||||||
| Opportunity Assessments | ||||||||||||||||||||||||
| Have you identified any water-related opportunities with the potential to have a substantive financial or strategic impact on your business | Yes, we have identified opportunities, but are unable to realize them | |||||||||||||||||||||||
| Opportunities for the use of desalinated water have been identified. | ||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||
| Reporting | ||||||||||||||||||||||||
| Frequency of reporting to the board on water-related issues | As important matters arise | |||||||||||||||||||||||
| 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 | |||||||||||||||||||||||
| 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 | We are currently identifying alternative water sources to enable Project expansion, environmentally approved continental water, or access to desalinated water via pipelines. | |||||||||||||||||||||||
| 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 | |||||||||||||||||||||||
| Water | ||||||||||||||||||||||||
| Reuse and recycle | ||||||||||||||||||||||||
| Reused and/or recycled water as a percentage of total water consumed during the reporting period (%) | Does Not Apply | |||||||||||||||||||||||
| Water Management | ||||||||||||||||||||||||
| Disclose the amount of water that was withdrawn from fresh water sources (in thousands of cubic meters) | 4.600 | |||||||||||||||||||||||
| Disclose the amount of fresh water that was consumed in its operations (in thousands of cubic meters) | 4.600 | |||||||||||||||||||||||
| The Project consumed 4.6 thousand cubic meters during 2024. | ||||||||||||||||||||||||
| 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 |
Although the Fenix Gold project is located in an arid and low water use area according to the Atlas of Water Risks' classification, the water for the operations will be industrially treated wastewater from the city of Copiapó, and the Project's plant design contemplates the reuse of process water. The physical water quantity risk associated with the year-on-year variation was classified as high risk. It's important to note that the physical, reputational, and regulatory water risks for the Fenix Gold project are all rated as low risk. |
|||||||||||||||||||||||
| https://www.wri.org/applications/aqueduct/water-risk-atlas/#/?advanced=false&basemap=hydro&indicator=bws_cat&lat=-24.92297272173214&lng=-426.04980602860456&mapMode=view&month=1&opacity=0.5&ponderation=DEF&predefined=false&projection=absolute&scenario=optimistic&scope=baseline&timeScale=annual&year=baseline&zoom=6 | ||||||||||||||||||||||||
| Disclose the fresh water withdrawn in locations with High or Extremely High Baseline Water Stress as a percentage of the total water withdrawn | 0.0000% | |||||||||||||||||||||||
| Disclose water withdrawn in locations with High or Extremely High Baseline Water Stress (in thousands of cubic meters) | 0.000 | |||||||||||||||||||||||
| According to the World Resources Institute (WRI), arid regions, especially those with low water use, can be considered high water stress areas. While aridity refers to a lack of rainfall, water stress is a measure of how much water is being used compared to what's available. The Fenix Gold Project is located in an arid region. However, based on current demand, the Chilean government has not classified the area as a high water stress area. | ||||||||||||||||||||||||
| Disclose fresh water consumed in locations with High or Extremely High Baseline Water Stress as a percentage of the total water consumed | 0.0000% | |||||||||||||||||||||||
| Total water consumed in locations with high or extremely high baseline water stress (in thousands of cubic meters) | 0.000 | |||||||||||||||||||||||
| According to the World Resources Institute (WRI), arid regions, especially those with low water use, can be considered high water stress areas. While aridity refers to a lack of rainfall, water stress is a measure of how much water is being used compared to what's available. The Fenix Gold Project is located in an arid region. However, based on current demand, the Chilean government has not classified the area as a high water stress area. | ||||||||||||||||||||||||
| Was your organization subject to any fines, enforcement orders, and/or other penalties for water-related regulatory violations | No | |||||||||||||||||||||||
|
Total number of incidents of non-compliance associated with water quality permits, standards, and regulations, including violations of a technology-based standard and exceedances of quality-based standards (note: only those that resulted in a formal enforcement action(s)) |
0 | |||||||||||||||||||||||
| Total number of violations - continuous discharges, limitations, standards, and prohibitions that are generally expressed as maximum daily, weekly average, and monthly average (regardless of their measurement methodology or frequency) | 0 | |||||||||||||||||||||||
| Total number of violations - non-continuous discharges and limitations that are generally expressed in terms of frequency, total mass, maximum rate of discharge, and mass or concentration of specified pollutants (regardless of their measurement methodology or frequency) | 0 | |||||||||||||||||||||||
| Total number of violations - other, please specify | 0 | |||||||||||||||||||||||
| Water and Effluents | ||||||||||||||||||||||||
| Water Withdrawal by Segment | ||||||||||||||||||||||||
| Total water withdrawn by segment, in megalitres (ML) | 4.600 | |||||||||||||||||||||||
| Surface water (total in ML) | 0.000 | |||||||||||||||||||||||
| Freshwater (≤1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Other water (>1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Groundwater (total in ML) | 4.600 | |||||||||||||||||||||||
| Freshwater (≤1,000 mg/L Total Dissolved Solids or TDS) | 4.600 | |||||||||||||||||||||||
| Other water (>1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Seawater (total in ML) | 0.000 | |||||||||||||||||||||||
|
Produced water (total in ML) |
0.000 | |||||||||||||||||||||||
| Freshwater (≤1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Other water (>1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
|
Third-party water (total in ML) |
0.000 | |||||||||||||||||||||||
| Freshwater (≤1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Other water (>1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Report on the total water withdrawal from all areas with water stress in megalitres (ML), and a breakdown of this total by the following sources | 0.000 | |||||||||||||||||||||||
|
Surface water (total in ML) |
0.000 | |||||||||||||||||||||||
| Freshwater (≤1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Other water (>1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Groundwater (total in ML) | 0.000 | |||||||||||||||||||||||
| Freshwater (≤1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Other water (>1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Seawater (total in ML) | 0.000 | |||||||||||||||||||||||
|
Produced water (total in ML) |
0.000 | |||||||||||||||||||||||
| Freshwater (≤1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Other water (>1,000 mg/L Total Dissolved Solids or TDS) | 0.000 | |||||||||||||||||||||||
| Third-party water, in megalitres (ML), and a breakdown of this total by the withdrawal sources | 0.000 | |||||||||||||||||||||||
| Surface water source | Not applicable | |||||||||||||||||||||||
| Surface water | 0.000 | |||||||||||||||||||||||
| Groundwater source | Not applicable | |||||||||||||||||||||||
| Groundwater | 0.000 | |||||||||||||||||||||||
| Seawater source | 0 | |||||||||||||||||||||||
| Seawater | 0.000 | |||||||||||||||||||||||
| Produced water source | Not applicable | |||||||||||||||||||||||
| Produced water | 0.000 | |||||||||||||||||||||||
| Report any contextual information necessary to understand how the data was compiled, i.e., any standards, methodologies, and assumptions used | For the reported period, only water from the can-can well was used, which has the corresponding authorization. The well has a pumping system and a flowmeter for the control of the authorized flows. In addition to the measurement system, the number and capacity of cistern trucks (cisterns) that are supplied with water from the well have been recorded. | |||||||||||||||||||||||
| Water Consumption | ||||||||||||||||||||||||
| Report the total water consumption from all areas in megalitres | 4.600 | |||||||||||||||||||||||
| Report the total water consumption from all areas with water stress in megalitres | 0.000 | |||||||||||||||||||||||
| Waste Management | ||||||||||||||||||||||||
| Tailings Storage Facilities Management | ||||||||||||||||||||||||
| Does your company manage Tailings Storage Facilities | No | |||||||||||||||||||||||
| The Fenix Gold Project will not generate tailings. | ||||||||||||||||||||||||
| Innovation | ||||||||||||||||||||||||
| Spending on Research, Development, and Technologies for waste management compliance and improvement (currency, Thousands) | 0 | |||||||||||||||||||||||
| Critical Incident Management | ||||||||||||||||||||||||
| Response Preparedness | ||||||||||||||||||||||||
| Describe the organization’s approach to emergency preparedness and response plans | The Fenix Gold Project has an emergency response plan approved in its environmental assessment. | |||||||||||||||||||||||
| Frequency of testing the plans | Annually | |||||||||||||||||||||||
| How engagement with local communities, workers, public sector agencies, first responders, and local authorities and institutions has informed the plans | The authorities influenced the emergency plans during the environmental processing of the project. | |||||||||||||||||||||||
| Report the number of critical incidents in the reporting period | 0 | |||||||||||||||||||||||
| Describe the impacts from the incidents | NA | |||||||||||||||||||||||
| Actions taken to remediate the negative impacts from the incidents | NA | |||||||||||||||||||||||
| Report the percentage of mine sites that have emergency preparedness and response plans in place (%) | 100.0000% | |||||||||||||||||||||||
| List the sites that do not have emergency preparedness and response plans | 0 | |||||||||||||||||||||||
| Biodiversity | ||||||||||||||||||||||||
| Management Plan | ||||||||||||||||||||||||
| Describe the environmental and biodiversity management plan(s) implemented at active sites |
For the reporting period, earthmoving activities began (Nov-Dec.) for the components: Stage 1 Leach Pad, Process Plant Pad and access road. These intervened areas are within the scope of the EIA and have a baseline and impact assessment. The following biodiversity and environmental control plans and measures were executed: - Controlled disturbance (access road) - Reptile rescue and relocation (plant and battery) - Intervention in authorized areas only - Particulate matter control - Permanent supervision and inspection program - Area release procedures. In addition, the following programs and plans were implemented: - Quarterly monitoring of camelids. - Start of chinchilla, puma and Andean cat monitoring - Chinchilla Shelter Area Monitoring - Vegetation monitoring in SVAHT north and south - Visual recording of wild canids -Wildlife protection signage - Training and induction in flora and fauna - Internal procedures and standards for wildlife management and protection, etc. |
|||||||||||||||||||||||
| Lifecycle stages to which the plan(s) apply |
|
|||||||||||||||||||||||
| 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) |
The Biodiversity Plan included in the EIA was developed by specialized consultants. The plan and its contents have been prepared in compliance with current regulations, Chilean guidelines, and international standards. Furthermore, we have proposed voluntary commitments that are intricately aligned with the Project design and our corporate guidelines. |
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| What is the biodiversity management plan implementation stage | The Fenix Gold Project is currently fulfilling its voluntary commitments related to the environmental permit (RCA) for the biodiversity component during the construction stage. | |||||||||||||||||||||||
| Impacts of Policies and Procedures | ||||||||||||||||||||||||
| Where relevant, describe specific policies and practices that apply to areas with protected conservation status and/or areas of critical habitat, which are defined by the International Finance Corporation (IFC) Performance Standard 6 | It does not apply. | |||||||||||||||||||||||
| If the management policies and practices do not apply to all of the entity’s sites or operations, indicate the percentage of sites to which they were applied | Does Not Apply | |||||||||||||||||||||||
| Where environmental management policies and practices differ significantly by mineral resource (e.g., bauxite mining as compared to silver mining) then describe differences for each resource | It does not apply. | |||||||||||||||||||||||
| Impacts | ||||||||||||||||||||||||
| Percentage of sites in or near ecologically sensitive areas | 100.0000% | |||||||||||||||||||||||
| Does access to the site involve traversing a protected area | No | |||||||||||||||||||||||
| This disclosure includes all relevant national categories and designations as well as internationally recognized protected areas, i.e. areas designated under the World Conservation Union (IUCN) designation I-IV, UNESCO Natural World Heritage Sites, UNESCO Man, and the Biosphere Reserves, and wetlands designated under the Convention on Wetlands of International Importance (the Ramsar Convention). | ||||||||||||||||||||||||
| Do any of the entities concessions share a watershed with a protected area | Yes | |||||||||||||||||||||||
| 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 |
Neither the Fenix Gold Project nor any of its facilities cross a protected area. The Fenix Gold Project is located 3.6 km from the boundary of the Nevado Tres Cruces National Park and the Laguna Santa Rosa Ramsar Site. (See map attached.) |
|||||||||||||||||||||||
| A small area (0.82 km2) of the upper part of the Fenix Project is located in the pit sub-basin, which is a contributor basin to the Maricunga National Park and Salar. However, according to the modeling and environmental impact assessment, the potential effects on the protected area are not significant. This negligible impact is associated with the possible decrease in recharge due to specific Project works. The possible reduction in recharge is estimated at 0.20 L/s, corresponding to 2.11% of the total recharge in the sub-basin (9.5 L/s). At the basin level, the Rajos sub-basin belongs to the Salar de Maricunga basin, in which water balances have been carried out by various sources, estimating the recharge of the Salar de Maricunga between approximately 1,200 L/s and 1,600 L/s, for which the possible decrease in recharge due to the Project works located in the Rajos sub-basin represents between 0.013% and 0.017%, at the basin level. Therefore, no risk of reduced water levels is expected, which qualifies as a non-significant impact. | ||||||||||||||||||||||||
|
|
||||||||||||||||||||||||
| Fenix Gold Pit Sub-Basin Catchment | ||||||||||||||||||||||||
| Percentage of proven reserves in sites with protected conservation status or in areas of endangered species habitat | 0.0000% | |||||||||||||||||||||||
| Percentage of probable reserves in sites with protected conservation status or in areas of endangered species habitat | 0.0000% | |||||||||||||||||||||||
| Social | ||||||||||||||||||||||||
| Scale of the Organization | ||||||||||||||||||||||||
| Direct Employee Information | ||||||||||||||||||||||||
| Total number of permanent full-time employees | 66 | |||||||||||||||||||||||
| Full-time - Male | 40 | |||||||||||||||||||||||
| Full-time - Female | 26 | |||||||||||||||||||||||
| Full-time - Non-binary | 0 | |||||||||||||||||||||||
| Total number of permanent part-time employees | 0 | |||||||||||||||||||||||
| Part-time - Male | 0 | |||||||||||||||||||||||
| Part-time - Female | 0 | |||||||||||||||||||||||
| Part-time - Non-binary | 0 | |||||||||||||||||||||||
| Total number of permanent employees (full-time & part-time) | 66 | |||||||||||||||||||||||
| Permanent employees - Male | 40 | |||||||||||||||||||||||
| Permanent employees - Female | 26 | |||||||||||||||||||||||
| Permanent employees -Non-binary | 0 | |||||||||||||||||||||||
| Total number of temporary employees (full-time & part-time) | 0 | |||||||||||||||||||||||
| Temporary employees - Male | 0 | |||||||||||||||||||||||
| Temporary employees - Female | 0 | |||||||||||||||||||||||
| Temporary employees - Non-binary | 0 | |||||||||||||||||||||||
| Total number of direct employees (includes full-time permanent, part-time permanent, temporary; exclude workers who are not employees) | 66 | |||||||||||||||||||||||
| Direct employees - Male | 40 | |||||||||||||||||||||||
| Direct employees - Female | 26 | |||||||||||||||||||||||
| Direct employees - Non-binary | 0 | |||||||||||||||||||||||
| Employees have chosen not to provide this information. | ||||||||||||||||||||||||
| Percentage of direct employees - Male | 60.6061% | |||||||||||||||||||||||
| Percentage of direct employees - Female | 39.3939% | |||||||||||||||||||||||
| Percentage of direct employees - Non-binary | 0.0000% | |||||||||||||||||||||||
| Percentage of direct employees - Gender not disclosed | 0.0000% | |||||||||||||||||||||||
| Out of the total direct employees, what is the number of non-guaranteed hours direct employees | 0 | |||||||||||||||||||||||
| Non-guaranteed hours - Male | 0 | |||||||||||||||||||||||
| Non-guaranteed hours - Female | 0 | |||||||||||||||||||||||
| Non-guaranteed hours - Non-binary | 0 | |||||||||||||||||||||||
| Non-guaranteed hours - Gender not disclosed | 0 | |||||||||||||||||||||||
| Describe the methodologies and assumptions used to compile the data | Data was compiled using information from the monthly updated Workforce Reports (direct employee information) | |||||||||||||||||||||||
| Are the numbers reported in head count, full-time equivalent (FTE), or using another methodology | Head count | |||||||||||||||||||||||
| Are the numbers reported at the end of the reporting period, as an average across the reporting period, or using another methodology | The numbers are disclosed at the end of the reporting period. | |||||||||||||||||||||||
| Provide contextual information necessary to understand the direct employment information provided | The company obtained permits to begin the construction phase of the project in the last quarter of the year, so we began hiring new workers during that period. | |||||||||||||||||||||||
| Describe significant fluctuations, if any, in the number of direct employees during the reporting period and between reporting periods | As mentioned above, the organization and its strategic partners (contractors) began hiring new staff in large numbers in Q4 2024. | |||||||||||||||||||||||
| Number of direct employees hired locally | 46 | |||||||||||||||||||||||
| Number of direct employees hired locally as a percentage of total number of direct employees | 69.6970% | |||||||||||||||||||||||
| Describe how the entity defines "local" | The entity defines 'local employees' as those Chilean workers or those workers residing in Chile (the country where the project is located). | |||||||||||||||||||||||
| Workers Who are Not Employees | ||||||||||||||||||||||||
| Total number of workers who are not employees - Male (full-time, part-time) | 6 | |||||||||||||||||||||||
| Full-time - Male | 0 | |||||||||||||||||||||||
| Part-time - Male | 6 | |||||||||||||||||||||||
| Total number of workers who are not employees - Female (full-time, part-time) | 6 | |||||||||||||||||||||||
| Full-time - Female | 0 | |||||||||||||||||||||||
| Part-time - Female | 6 | |||||||||||||||||||||||
| Total number of workers who are not employees - Non-Binary (full-time, part-time) | 0 | |||||||||||||||||||||||
| Employees have chosen not to provide this information. | ||||||||||||||||||||||||
| Full-time - Non-binary | 0 | |||||||||||||||||||||||
| Part-time - Non-binary | 0 | |||||||||||||||||||||||
| Total number of workers who are not employees - Gender not disclosed (full-time, part-time) | 0 | |||||||||||||||||||||||
| Employees have chosen not to provide this information. | ||||||||||||||||||||||||
|
Total number of workers who are not employees and whose work is controlled by the organization (e.g., suppliers, customers, or other business partners, such as in joint ventures) |
12 | |||||||||||||||||||||||
| Percentage of workers who are not employees - Male | 50.0000% | |||||||||||||||||||||||
| Percentage of workers who are not employees - Female | 50.0000% | |||||||||||||||||||||||
| Percentage of workers who are not employees - Non-binary | 0.0000% | |||||||||||||||||||||||
| Percentage of workers who are not employees - Gender not disclosed | 0.0000% | |||||||||||||||||||||||
| Describe the most common types of workers who are not employees and their contractual relationship with the organization | Full-time, permanent employment is generally the most common type of employment. | |||||||||||||||||||||||
| The type of work they perform | Consultants responsible for obtaining permits to begin construction on a project, as well as managing and processing various administrative and support processes, are the most common type of worker. | |||||||||||||||||||||||
| Describe the methodologies and assumptions used to compile the information about workers who are not employees. | We have no non-salaried workers | |||||||||||||||||||||||
| Is the number of workers who are not employees reported in head count, full-time equivalent (FTE), or using another methodology | Head count | |||||||||||||||||||||||
| Is the number of workers who are not employees reported at the end of the reporting period, as an average across the reporting period, or using another methodology | All workers have been reported at the end of the reporting period. | |||||||||||||||||||||||
| Describe significant fluctuations, if any, in the number of workers who are not employees during the reporting period and between reporting periods | Consulting and/or support staff in key processes have been maintained, while new hired staff who are currently employed have assumed responsibilities in the management of permits, administrative procedures and support. | |||||||||||||||||||||||
| Number of workers who are not employees hired locally | 4 | |||||||||||||||||||||||
| Number of workers who are not employees hired locally as a percent of total number of workers who are not employees | 33.3333% | |||||||||||||||||||||||
| Total Workforce | ||||||||||||||||||||||||
| Total workforce (includes direct employees and workers who are not employees) | 78 | |||||||||||||||||||||||
| Total female workforce | 32 | |||||||||||||||||||||||
| Female workforce as percentage of total employed workforce | 41.0256% | |||||||||||||||||||||||
| Total male workforce | 46 | |||||||||||||||||||||||
| Male workforce as percentage of total employed workforce | 58.9744% | |||||||||||||||||||||||
| Total non-binary workforce | 0 | |||||||||||||||||||||||
| Non-binary workforce as percentage of total employed workforce | 0.0000% | |||||||||||||||||||||||
| Workers who are not employees (contractors) as percentage of total employed workforce | 15.3846% | |||||||||||||||||||||||
| Total workforce who are hired locally | 50 | |||||||||||||||||||||||
| Total workforce hired locally as a percent of total workforce | 64.1026% | |||||||||||||||||||||||
| Employment | ||||||||||||||||||||||||
| Turnover & Gender Breakdown | ||||||||||||||||||||||||
| Female direct employees: | ||||||||||||||||||||||||
| Total number of turnover (the number of females that left during the period) | 0 | |||||||||||||||||||||||
| Rate of turnover, females | 0.0000% | |||||||||||||||||||||||
| Male direct employees: | ||||||||||||||||||||||||
| Total number of turnover (the number of males that left during the period) | 1 | |||||||||||||||||||||||
| Rate of turnover, males | 3.6364% | |||||||||||||||||||||||
| Non-binary direct employees: | ||||||||||||||||||||||||
| Total number of turnover (the number non-binary that left during the period) | 0 | |||||||||||||||||||||||
| Rate of turnover, non-binary | Does Not Apply | |||||||||||||||||||||||
| Report the total number and rate of turnover for all Direct Employees: | ||||||||||||||||||||||||
| Total number of turnover (the number that left during the period) | 1 | |||||||||||||||||||||||
| Rate of turnover - direct employees | 2.2222% | |||||||||||||||||||||||
| Turnover & Age Breakdown | ||||||||||||||||||||||||
| Direct Employees aged 30 years old and under: | ||||||||||||||||||||||||
| Total number of turnover (the number that left during the period) | 0 | |||||||||||||||||||||||
| Number at end of period as percent of total direct employees | 6.0606% | |||||||||||||||||||||||
| Rate of turnover | 0.0000% | |||||||||||||||||||||||
| Direct Employees aged between 30 and 50 years old: | ||||||||||||||||||||||||
| Total number of turnover (the number that left during the period) | 1 | |||||||||||||||||||||||
| Number at end of period as percent of total direct employees | 71.2121% | |||||||||||||||||||||||
| Rate of turnover | 3.1746% | |||||||||||||||||||||||
| Direct Employees over 50 years old: | ||||||||||||||||||||||||
| Total number of turnover (the number that left during the period) | 0 | |||||||||||||||||||||||
| Number at end of period as percent of total direct employees | 21.2121% | |||||||||||||||||||||||
| Rate of turnover | 0.0000% | |||||||||||||||||||||||
| Identify types of employees captured in the turnover rate calculations |
|
|||||||||||||||||||||||
| Average age of direct employees | 42 | |||||||||||||||||||||||
| Diversity and Equal Opportunity | ||||||||||||||||||||||||
| Diversity of Governance Bodies | ||||||||||||||||||||||||
| The highest governance body (Board of Directors) | ||||||||||||||||||||||||
| Total Board of Directors | 7 | |||||||||||||||||||||||
| Percent of the highest governance body - Male | Does Not Apply | |||||||||||||||||||||||
| Percent of the highest governance body - Female | Does Not Apply | |||||||||||||||||||||||
| Percent of the highest governance body - Non-Binary | Does Not Apply | |||||||||||||||||||||||
| Percent of the highest governance body - under 30 years of age | Does Not Apply | |||||||||||||||||||||||
| Percent of the highest governance body - between 30 and 50 years of age | Does Not Apply | |||||||||||||||||||||||
| Percent of the highest governance body - over 50 years of age | Does Not Apply | |||||||||||||||||||||||
| Percent minority or vulnerable group individuals in the "highest governance body" category | 0.0000% | |||||||||||||||||||||||
| Diversity of Direct Employees | ||||||||||||||||||||||||
| Senior Management: | ||||||||||||||||||||||||
| Total Senior Managers: | 19 | |||||||||||||||||||||||
| Percent Male | 63.1579% | |||||||||||||||||||||||
| Percent Female | 36.8421% | |||||||||||||||||||||||
| Percent Non-Binary | 0.0000% | |||||||||||||||||||||||
| Percent under 30 years of age | 0.0000% | |||||||||||||||||||||||
| Percent between 30 and 50 years of age | 63.1579% | |||||||||||||||||||||||
| Percent over 50 years of age | 36.8421% | |||||||||||||||||||||||
| Percent of minority or vulnerable group individuals in the "Senior Management Employee" category | Does Not Apply | |||||||||||||||||||||||
| Salaried (excluding Senior Management): | ||||||||||||||||||||||||
| Total Salaried (excluding Senior Management) | 46 | |||||||||||||||||||||||
| Percent Male | 58.6957% | |||||||||||||||||||||||
| Percent Female | 41.3043% | |||||||||||||||||||||||
| Percent Non-Binary | 0.0000% | |||||||||||||||||||||||
| Percent under 30 years of age | 8.6957% | |||||||||||||||||||||||
| Percent between 30 and 50 years of age | 76.0870% | |||||||||||||||||||||||
| Percent over 50 years of age | 15.2174% | |||||||||||||||||||||||
| Percent of minority or vulnerable group individuals in the "Salaried Employee" category | 0.0000% | |||||||||||||||||||||||
| Diversity of Workers Who Are Not Employees | ||||||||||||||||||||||||
|
Workers who are not employees |
12 | |||||||||||||||||||||||
| Number of Males | 6 | |||||||||||||||||||||||
| Number of Females | 6 | |||||||||||||||||||||||
| Number of Non-Binary | 0 | |||||||||||||||||||||||
| Labour Relations | ||||||||||||||||||||||||
| Collective Bargaining Agreements | ||||||||||||||||||||||||
| Percentage of total direct employees covered by collective bargaining agreements (%) | 0.0000% | |||||||||||||||||||||||
| In 2024, Rio2 Limited did not have Collective Bargaining Agreements at the Fenix Gold project, however, the company currently (2025) has a collective bargaining agreement between the union "SINACIN" and the contractor company STRACON. | ||||||||||||||||||||||||
| For direct 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 organization determines the working conditions and terms of employment for all workers, as there is no collective bargaining agreement. | |||||||||||||||||||||||
| Notice Periods | ||||||||||||||||||||||||
| Minimum number of weeks’ notice typically provided to direct employees in the active workforce and their representatives prior to the implementation of significant operational changes that could substantially affect them | 6 weeks | |||||||||||||||||||||||
| Occupational Health and Safety | ||||||||||||||||||||||||
| Work-related Injuries | ||||||||||||||||||||||||
| Injuries - direct 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 | |||||||||||||||||||||||
| Total recordable work-related injuries rate | 0.000 | |||||||||||||||||||||||
| Main types of work-related injury, e.g., confined space, trips, falls, etc. | No work-related injuries were recorded for the 2024 calendar year. This applies to employees only. | |||||||||||||||||||||||
| Number of hours worked | 33,239 | |||||||||||||||||||||||
| Lost Time Injuries (LTIs) | 0 | |||||||||||||||||||||||
| Lost Time Injury Rate (LTIR) | 0.000 | |||||||||||||||||||||||
| In 2024, Rio2 Limited had a 0.00 fatality rate, 0.00 work-related incident rate, and a 0.00 Lost Time Incident rate. | ||||||||||||||||||||||||
| Total recordable incident rate (TRIR) for work-related injuries and illnesses - direct employees | 0.000 | |||||||||||||||||||||||
| Number of recordable work-related injuries and illnesses - direct employees | 0 | |||||||||||||||||||||||
| Number of hours worked by all direct employees in the reporting period | 33,239.000 | |||||||||||||||||||||||
| Fatality rate for work-related fatalities - direct employees | 0.000 | |||||||||||||||||||||||
| Number of fatalities - direct employees | 0 | |||||||||||||||||||||||
| Near miss frequency rate (NMFR) for work-related near misses - direct employees | 0.000 | |||||||||||||||||||||||
| Number of near misses - direct employees | 0 | |||||||||||||||||||||||
| 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 | |||||||||||||||||||||||
| Total recordable work-related injuries rate | 0.000 | |||||||||||||||||||||||
| Main types of work-related injury, e.g., confined space, trips, falls, etc. | No work-related injuries were recorded for the 2024 calendar year. This applies to contractors only. | |||||||||||||||||||||||
| Number of hours worked | 128,678 | |||||||||||||||||||||||
| Total number of work-related injuries for workers who are not employees (total recordable incidents for work-related injuries and illnesses) | 0 | |||||||||||||||||||||||
| Lost Time Injuries (LTIs) | 0 | |||||||||||||||||||||||
| Lost Time Injury Rate (LTIR) | 0.000 | |||||||||||||||||||||||
| In 2024, Rio2 Limited had a 0.00 fatality rate, 0.00 work-related incident rate, and a 0.00 Lost Time Incident rate. | ||||||||||||||||||||||||
| Total recordable incident rate (TRIR) for work-related injuries and illnesses - workers who are not employees | 0.000 | |||||||||||||||||||||||
| Number of recordable work-related injuries and illnesses - workers who are not employees | 0 | |||||||||||||||||||||||
| Number of hours worked by all workers who are not-employees in the reporting period | 128,678.000 | |||||||||||||||||||||||
| Fatality rate for work-related fatalities - workers who are not employees | 0.000 | |||||||||||||||||||||||
| Number of fatalities - workers who are not employees | 0 | |||||||||||||||||||||||
| Near miss frequency rate (NMFR) for work-related near misses - workers who are not employees | 0.000 | |||||||||||||||||||||||
| Number of near misses - workers who are not employees | 0 | |||||||||||||||||||||||
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Combined (Employees and non-employees, but controlled by the organization): |
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| Total Hours Worked | 161,917 | |||||||||||||||||||||||
| Total number of all recordable work-related injuries | 0 | |||||||||||||||||||||||
| Total recordable work-related injuries rate | 0.000 | |||||||||||||||||||||||
| Total Lost Time Injuries (LTIs) | 0 | |||||||||||||||||||||||
| Lost Time Injury Rate (LTIR) | 0.000 | |||||||||||||||||||||||
| Total recordable incident rate (TRIR) for work-related injuries and illnesses - Combined (Employees and non-employees, but controlled by the organization) | 0.000 | |||||||||||||||||||||||
| Total number of recordable incidents for work-related injuries and illnesses - Combined (Employees and non-employees, but controlled by the organization) | 0 | |||||||||||||||||||||||
| Total Hours Worked - Combined (Employees and non-employees, but controlled by the organization) | 161,917.000 | |||||||||||||||||||||||
| Fatality rate for work-related fatalities - Combined (Employees and non-employees, but controlled by the organization) | 0.000 | |||||||||||||||||||||||
| Number of fatalities - Combined (Employees and non-employees, but controlled by the organization) | 0 | |||||||||||||||||||||||
| Near miss frequency rate (NMFR) for work-related near misses - Combined (Employees and non-employees, but controlled by the organization) | 0.000 | |||||||||||||||||||||||
| Number of near misses - Combined (Employees and non-employees, but controlled by the organization) | 0 | |||||||||||||||||||||||
| What is the process for classifying, identifying and reporting near misses | The process used to identify incidents is the Occupational Accident Reporting and Investigation Procedure. | |||||||||||||||||||||||
| Report the work-related hazards that pose a risk of high-consequence injury, including: |
Work-related hazards that pose a risk of high-consequence injury include those identified below. - Driving - Blows to the hand - Blows from objects causing head injuries - Falls from different levels - Same level falls -Cuts with sharp and cutting objects - Particles projection - Noise exposure - Exposure to dusts, gases, metallic fumes and vapors - Blows with tools - Entrapment by machinery - Back pain associated with handling of manual loads - Personnel transportation - Mobile equipment operations - Falling from suspended loads, mobile cranes, and overhead cranes - Fires - Handling of hazardous substances - Electrical hazards |
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| How have these hazards been determined |
Rio2 utilizes the ISO 45001 methodology to identify high-potential hazards. For this purpose, Rio2 applies the Iper matrix (HIRA, Hazard Identification, and Risk Assessment in English). This matrix is a management tool that can be used to identify hazards and assess risks associated with the processes of any organization. This methodology includes: • On-site registration • Induction training • Monitoring and evaluation |
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| Which of these hazards have caused or contributed to high-consequence injuries during the reporting period | In this reporting period, Rio2 did not suffer any high-consequence injuries. | |||||||||||||||||||||||
| Actions taken or underway to eliminate these hazards and minimize risks using the hierarchy of controls |
For 2024 the actions taken according to the Hierarchy of Controls were: -Implementation of Administrative controls -Delivery of Personal Protection Equipment -Safe Driving in High Mountains Training; and -Emergency Preparedness Training. |
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| Report on actions taken or underway to eliminate other work-related hazards and minimize risks using the hierarchy of controls | In order to eliminate hazards and minimize risks during 2024, Rio2 complied with Chilean Occupational Health and Safety Standards and Regulations (Chile's Occupational Safety and Health Law No. 16744 regulates workplace accidents and occupational diseases). The Company also implemented plans, and programs as shown in the attached table. During 2024, Risk Prevention plans will be updated and the new regulations that came into force in 2025, specifically Supreme Decree No. 44, will be applied. | |||||||||||||||||||||||
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| 2024 Risk Prevention Programs | ||||||||||||||||||||||||
| Have rates been calculated based on 200,000 or 1,000,000 hours worked | 200,000 | |||||||||||||||||||||||
| Were any workers excluded from this disclosure | No | |||||||||||||||||||||||
| Disclose any contextual information necessary to understand how the data has been compiled, i.e., any standards, methodologies, and assumptions used |
Rio2 identifies and develops Health and Safety procedures and protocols based on the following: a) Host government regulations on safety b) Occupational health and risk prevention, and c) The adequacy of safety standards in accordance with our operations. In addition, we hold daily mandatory safety meetings with all personnel and contractors to identify risks as operations and activities change to meet project demands. When necessary, we hire external consulting services specialized in risk prevention. |
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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 |
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 include the following. - General safety induction and re-induction of personnel. - Dissemination of safety, occupational health, environmental, and social management policies. - Hazard identification and occupational risk assessment. - Dissemination of safety events in other companies: lessons learned. - Use and handling of fire extinguishers. - Information on occupational insurance. - Use of the Pre-use checklist and other management tools. - Limits and speed control in vehicles. - Thunderstorms: evacuation procedure. - Emergency communications. - Emergency response booklet. - Altitude sickness. - Covid-19 emergency response booklet. - Code of Conduct. - Internal Work Regulations. - Internal Safety Regulations. |
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| Average number of training hours per person on health, safety, and emergency response provided to: full-time/direct employees | 4.85 | |||||||||||||||||||||||
| The total includes trained workers who were hired but left during the specified period. | ||||||||||||||||||||||||
| Average training hours per person on health, safety, and emergency response for workers who are not employees (contractors) | 4.83 | |||||||||||||||||||||||
| Conflict-affected and high-risk areas | ||||||||||||||||||||||||
| Adherence to Laws and Due Diligence | ||||||||||||||||||||||||
| Describe the approach to ensuring adherence to international humanitarian law when operating in conflict-affected and high-risk areas | It does not apply. | |||||||||||||||||||||||
| List the locations of operations in conflict-affected or high-risk areas | It does not apply. | |||||||||||||||||||||||
| How were these identified | N/A | |||||||||||||||||||||||
| Describe the due diligence process applied for operations in, or when sourcing from, conflict-affected and high-risk areas and | N/A | |||||||||||||||||||||||
| Did the due diligence process align with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas | No | |||||||||||||||||||||||
| Report the potential negative impacts on workers and local communities, including actions to prevent or mitigate the impacts | it does not apply to the company. | |||||||||||||||||||||||
| Security, Human Rights and Rights of Indigenous People | ||||||||||||||||||||||||
| Describe the nature of any social risks, for all operating countries, that could have a material impact on the operations | Please see attached document for a description of the social risks related to the Fenix Gold Project. | |||||||||||||||||||||||
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| Fenix Gold Project Social Risks 2024 | ||||||||||||||||||||||||
| Percentage of proven reserves that are located in or near areas of active conflict | 0.0000% | |||||||||||||||||||||||
| No percentage of proven reserves are located in or near areas of active conflict. | ||||||||||||||||||||||||
| Percentage of probable reserves that are located in or near areas of active conflict | 0.0000% | |||||||||||||||||||||||
| No percentage of proven reserves are located in or near areas of active conflict. | ||||||||||||||||||||||||
| Percentage of proven reserves that are located in or near areas that are considered to be indigenous peoples’ land | 0.0000% | |||||||||||||||||||||||
| There are no percentage of proved reserves that are located in or near areas that are considered to be Indigenous peoples’ land. | ||||||||||||||||||||||||
| Percentage of probable reserves that are located in or near areas that are considered to be indigenous peoples’ land | 0.0000% | |||||||||||||||||||||||
| No percentage of probable reserves are located in or near areas that are considered to be Indigenous peoples’ land. | ||||||||||||||||||||||||
| Which indigenous rights of communities in which the entity operates or intends to operate are respected, provide a description of the entity's due diligence practices and procedures in the details. | Please see attached disclosure. | |||||||||||||||||||||||
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| Colla Communities Transhumance Routes | ||||||||||||||||||||||||
| Rio2's DD Practices Procedures Indigenous Communities | ||||||||||||||||||||||||
| Which human rights procedures the entity's due diligence practices include, provide description in the details |
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| Please see attached description of human rights procedures applied by the Company . | ||||||||||||||||||||||||
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| Rio2 Human Rights Procedures | ||||||||||||||||||||||||
| Discuss the practices and procedures while operating in areas of conflict, describing the approach according to the Five-Step Framework outlined in the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas | Rio2 does not operate in areas of conflict. | |||||||||||||||||||||||
| Rights of Indigenous Peoples | ||||||||||||||||||||||||
| Describe the approach to identifying Indigenous Peoples who are or could be affected by the organization’s activities |
The organization adopts a structured and culturally sensitive approach to identifying Indigenous Peoples potentially affected by its operations. This process is aligned with international standards such as the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP), International Finance Corporation (IFC) Performance Standard 7, and ILO Convention 169, as well as relevant national legislation. 1. Baseline social and ethnographic studies. 2. Legal mapping. 3. Stakeholder engagement and participatory identification. 4. Involvement of interdisciplinary teams. 5. Ongoing verification and monitoring. |
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| Describe the approach to engaging with Indigenous Peoples | The organization adopts a respectful, inclusive, and culturally appropriate approach to engaging with Indigenous Peoples, based on the principles of free, prior, and informed consent (FPIC), intercultural dialogue, and long-term relationship building. This approach aligns with international frameworks such as ILO Convention 169, the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP), and the IFC Performance Standards, particularly Performance Standard 7. | |||||||||||||||||||||||
| How does the organization seek to ensure meaningful engagement |
The organization ensures interaction with stakeholders, particularly Indigenous Peoples. To achieve this, it adapts its approach to the specific cultural, social, and linguistic context of each community. - Early engagement and trust building. - Culturally appropriate communication. - Respect for local decision-making processes. - Two-way dialogue and responsiveness. - Monitoring and continuous improvement. |
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| How does the organization support safe and equitable gender participation | The organization is strongly committed to promoting the safe, equitable, and meaningful participation of women and people of all genders in community engagement processes, decision-making, and project-related activities. This commitment is grounded in the principles of equality, inclusion, non-discrimination, and empowerment, in alignment with international frameworks such as the Sustainable Development Goals (SDG 5 on Gender Equality). | |||||||||||||||||||||||
| Describe the policies or commitments, and actions taken to respect Indigenous Peoples’ cultural heritage |
The organization respects and protects the cultural heritage of Indigenous Peoples, as well as sacred sites, traditional knowledge, and cultural practices. This commitment is governed by: - Respect for Protocols and community knowledge. - Zero tolerance for disturbance of sacred or ceremonial sites. - Integration into project design. |
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| Describe the community development programs in place that are intended to enhance positive impacts for Indigenous Peoples | The organization implements a range of community development programs specifically designed to generate long-term, positive impacts for Indigenous Peoples, aligned with their self-identified priorities, cultural values, and aspirations. These programs are developed through inclusive consultation processes and are based on principles of partnership, respect for cultural identity, and sustainable development. | |||||||||||||||||||||||
| Has the organization been involved in a process of seeking free, prior, and informed consent (FPIC) from Indigenous Peoples for any of its activities | Yes | |||||||||||||||||||||||
| Has the process been mutually accepted by the organization and the affected Indigenous Peoples | Yes | |||||||||||||||||||||||
| Has an agreement been reached | Yes | |||||||||||||||||||||||
| If an agreement is reached, is it publicly available | Yes | |||||||||||||||||||||||
| Incidents of Violations of Rights of Indigenous Peoples | ||||||||||||||||||||||||
| Describe the identified incidents of violations involving the rights of Indigenous Peoples | The organization acknowledges the importance of transparency and accountability in identifying and addressing any incidents that may involve violations of the rights of Indigenous Peoples. We have no identified incidents of violations of the rights of indigenous peoples | |||||||||||||||||||||||
| Land and Resource Rights | ||||||||||||||||||||||||
| Commitments | ||||||||||||||||||||||||
| Describe the approach to engaging with stakeholders whose rights to land and resources are or could be affected by the organization’s activities | There aren't stakeholders whose rights to land and resources are or could be affected by the organization’s activities. However, the manner we approach our stakeholders to ensure collaboration ties must always be based on the respect and protection of human rights and the rights of Indigenous peoples. | |||||||||||||||||||||||
| How does the organization seek to ensure meaningful engagement | The organization seek to ensure a meaningful engagement with stakeholders in general through the establishment of clear mechanisms for participation and collaboration, together with strategies for resolving conflicts and ensuring respect for human rights Indigenous territories and cultures. | |||||||||||||||||||||||
| How does the organization support safe and equitable gender participation | The organization supports safe and equitable gender participation through the respect of human rights, the Sustainable Development Goals (N°5) and the implementation of policies that promote equal opportunities, combat discrimination and harassment, and ensure a supportive environment for all genders. This includes addressing harmful stereotypes, promoting inclusive hiring practices, among others. | |||||||||||||||||||||||
| Describe the policies, commitments, and plans providing remediation to local communities or individuals subject to involuntary resettlement, and the process for establishing compensation for loss of assets, or other assistance to improve or restore standards of living or livelihoods | It does not apply. | |||||||||||||||||||||||
| Describe the procedures in place to monitor and evaluate the effectiveness of the actions taken to remediate negative impacts from involuntary resettlement and the corrective actions taken where necessary | It does not apply. | |||||||||||||||||||||||
| List the mine sites where involuntary resettlement is planned, ongoing, or has taken place | It does not apply. | |||||||||||||||||||||||
| Local Communities | ||||||||||||||||||||||||
| Operations with Local Community | ||||||||||||||||||||||||
| Describe the approach to identifying stakeholders, including vulnerable groups, within local communities |
The organization adopts a comprehensive and inclusive approach to identifying stakeholders within local communities, with particular attention to ensuring that vulnerable groups are effectively recognized and engaged in the decision-making process. The process of identifying stakeholders is grounded in the principles of inclusivity, equity, and respect for human rights. - Mapping and Scoping of Stakeholders. - Identification of Vulnerable Groups: Indigenous peoples, Women and children, Elderly people, Persons with disabilities, Minority ethnic or cultural groups. - Engagement with Traditional and Local Leaders. - Consultation and Participation. - Assessment of Vulnerabilities. - Ongoing Monitoring and Feedback Mechanisms. |
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| Describe the approach to engaging with local communities at each phase of the life of the mine |
The organization adopts a holistic and phased approach to engage with local communities throughout the entire life cycle of the mine, ensuring that communities are involved from the early exploration stages through to closure and post-closure. The approach is grounded in principles of sustainability, inclusivity, and respect for human rights, with a focus on fostering mutual trust, collaboration, and long-term community well-being. 1. Exploration Phase: - Early Engagement. - Cultural and Social Impact Assessments. -Transparency and Consent. 2. Construction Phase: - Community Development Plans. - Impact Mitigation and Compensation. - Local Employment and Capacity Building. 3. Operation Phase: - Continuous Dialogue and Consultation. - Local Economic Benefits. - Monitoring and Compliance. 4. Closure Phase: - Early Planning for Closure. - Environmental Remediation. - Transition Programs. 5. Post-Closure Phase: -Long-term Monitoring and Support. - Legacy Programs. |
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| How does the organization seek to ensure meaningful engagement |
The organization seeks to ensure meaningful engagement with stakeholders, particularly local communities, by following a series of key principles and actions that prioritize transparency, inclusivity, respect for local knowledge, and continuous collaboration. The approach aims to build trust, empower communities, and foster long-term relationships that are mutually beneficial. - Early and Proactive Engagement. - Culturally Appropriate Methods. - Inclusive Participation. - Clear and Transparent Communication. - Building Local Capacity. - Two-Way Dialogue and Feedback Mechanisms. |
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| How does the organization support safe and equitable gender participation | The organization is committed to ensuring safe and equitable gender participation by implementing policies, actions, and frameworks that foster an inclusive and respectful environment for all genders. This approach aims to remove barriers to participation, provide equal opportunities, and create a safe space for women, men, and non-binary individuals to contribute meaningfully at every stage of the project. | |||||||||||||||||||||||
| Describe the approach to developing and implementing community development programs, including how engagement with local stakeholders, impact assessments, and community needs assessments have informed the programs |
The organization follows a holistic and participatory approach to developing and implementing community development programs, ensuring that these initiatives are informed by the needs, priorities, and concerns of the local communities. This approach is designed to promote sustainable development, enhance community well-being, and create long-lasting positive impacts. The key components of the approach are as follows: - Engagement with Local Stakeholders. - Community Needs Assessments. - Impact Assessments. - Program Design and Implementation. - Monitoring, Evaluation, and Adaptation. |
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| Community Relations | ||||||||||||||||||||||||
| Artisanal and Small-Scale Mining (ASM) | ||||||||||||||||||||||||
| Describe the approach to engaging with ASM operators, and the actions taken by the organization to support ASM formalization and professionalization efforts |
Rio2 does not operate in sites where artisanal or small-scale mining takes place. There are no nearby sites of operation or companies that develop artisanal or small-scale mining. |
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| 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 | |||||||||||||||||||||||
| There are no operating sites where artisanal and small-scale mining (ASM) takes place on, or adjacent to, the Fenix Gold Project. | ||||||||||||||||||||||||
| Programs | ||||||||||||||||||||||||
| Report on community relations programs, objectives and achievements in the past 3 years | See attached disclosure. | |||||||||||||||||||||||
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In 2024, we have continued our efforts to connect with various stakeholders involved in the Fenix Gold Project. Our objectives are as follows: 1. Strengthen collaborative relationships to create and maintain the necessary social conditions and social license for the project's construction and ongoing operations. 2. Enhance and uphold the image and reputation of Fenix Gold among both public and private stakeholders within the project's area of influence and beyond. 3. Ensure the proper implementation of social guidelines in alignment with the company’s strategy, thereby maintaining the social viability and sustainability of the project, which is a key commitment of Fenix Gold's management. |
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| 2024 Community Relations Programs | ||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||
| Economic Impacts | ||||||||||||||||||||||||
| Local Hiring | ||||||||||||||||||||||||
| Percentage of workers hired from the local communities (per site) | 46.9697% | |||||||||||||||||||||||
| Total local community workers | 31 | |||||||||||||||||||||||
| Local community workers - male | 18 | |||||||||||||||||||||||
| Local community workers - female | 12 | |||||||||||||||||||||||
| Local community workers - non-binary | 1 | |||||||||||||||||||||||
| Local community workers - gender not disclosed | 0 | |||||||||||||||||||||||
| Total site workers | 66 | |||||||||||||||||||||||
| Governance | ||||||||||||||||||||||||
| Delegation of responsibility for managing impacts | ||||||||||||||||||||||||
| Has the highest governance body 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, CEO's role, CFO's role, Sustainability Executive, etc.) | Yes, the Health, Safety, Environment, and Social Responsibility Committee of the Board of Directors is the highest governance body charged with overseeing the company's performance on ESG issues. | |||||||||||||||||||||||
| Has the highest governance body delegated responsibility for the management of impacts to other employees | Yes | |||||||||||||||||||||||
| Describe the process for senior executives or other employees to report back to the highest governance body on the management of the organization’s impacts on the economy, environment and people, including sustainability-related risks and opportunities | The Health, Safety, Environment, and Social Committee reports to the board based on information provided by management. | |||||||||||||||||||||||
| Frequency for senior executives or other employees to report back to the highest governance body on the management of the organization’s impacts | Semi-annually | |||||||||||||||||||||||
| Policy commitments | ||||||||||||||||||||||||
| Provide a description of the organization’s policy commitments for responsible business conduct |
Rio2 Limited and its subsidiaries are committed to conducting business with integrity in accordance with the highest ethical and moral standards and in compliance with all applicable laws, rules, and regulations. The Company has issued a Code of Business Conduct and Ethics to promote: honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships; avoidance of conflicts of interest, including disclosure to an appropriate person of any material transaction or relationship that reasonably could be expected to give rise to such a conflict; confidentiality of corporate information; protection and proper use of corporate assets and opportunities; compliance with applicable governmental laws, rules, and regulations; the prompt internal reporting of any violations of this Code to an appropriate person or person identified in this Code; and accountability for adherence to this Code. |
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| Rio2 Limited Code of Business Conduct and Ethics | ||||||||||||||||||||||||
| What are (if any) the authoritative intergovernmental instruments that the commitments reference | Rio2's Code of Business Conduct and Ethics does not rest on any instruments in particular. Still, it states that all employees, directors, and consultants of the Corporation must adhere to the applicable laws and regulations of the areas in which it operates. | |||||||||||||||||||||||
| Do the commitments stipulate conducting due diligence | Rio2's Code of Business Conduct and Ethics has a Concern Reporting, Investigation, and Resolution section supported by the Company's Whistleblower Policy. | |||||||||||||||||||||||
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| Rio2's Code of Business Conduct and Ethics | ||||||||||||||||||||||||
| Do the commitments stipulate applying the Precautionary Principle or Approach (see instructions). | No | |||||||||||||||||||||||
| Do the commitments stipulate respecting human rights | Yes | |||||||||||||||||||||||
| Describe the specific policy commitment to respect human rights |
The Code states that Rio2's employment decisions will be based on reasons related to our business, such as job performance, individual skills and talents, and other business-related factors. The Corporation policy requires adherence to all national, provincial, or local employment laws. In addition to any other requirements of applicable laws in a particular jurisdiction, the Company's Code prohibits discrimination in any aspect of employment based on race, color, religion, sex, sexual orientation, national origin, disability, or age within the meaning of applicable laws. It also prohibits abusive or harassing conduct by our employees and officers toward others, such as unwelcome sexual advances, comments based on ethnicity, religion, or race, or other non-business, personal remarks or conducts that make others uncomfortable in their employment with us. We encourage and expect employees and associates to report harassment or other inappropriate conduct as soon as it occurs. |
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| What are (if any) the internationally recognized human rights that the commitment covers |
Internationally recognized human rights covered by the Code include: * Right to life and personal integrity * Right to work, to fair work conditions, prohibition of slavery and Social Security * Same right to use the law, equality before the law, and the right to be treated fair by the court * Equality and no discrimination * Right to freedom of thought, conscience, and religion * Right to participate in political and public life * Freedom of opinion, expression, and access at the information * Right to private life and privacy * Right to a healthy environment |
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| What are the categories of stakeholders, including at-risk or vulnerable groups, that the organization gives particular attention to in the commitment | Rio2 wishes to play an active role in promoting and exemplifying respect for human rights. This goal applies to the interests, cultures, customs, and values of our employees and the communities we interact with daily. | |||||||||||||||||||||||
| Are the policy commitments publicly available | 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 attached Corporate policies for more details. | |||||||||||||||||||||||
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| Human Rights Policy | Whistleblower Policy | HSE Policy | ||||||||||||||||||||||
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| Social Media Policy | Anti-bribery and Anti-corruption Policy | General Privacy Policy | ||||||||||||||||||||||
| Report the level at which each policy commitment was approved within the organization, including whether this is the most senior level | All Company Codes and Policies have been approved by Rio2's Board of Directors. | |||||||||||||||||||||||
| Were the policy commitments approved at the most senior level within the organization | Yes | |||||||||||||||||||||||
| To what extent the policy commitments apply to the organization’s activities and to its business relationships |
Code and policy commitments have been adopted by our Board of Directors to summarize the standards of business conduct that must guide the actions of all of the directors, officers, and employees of the Corporation. This Code and associated policies apply to all Corporation directors, officers, and employees. This Code also applies to certain contractors. Contractors, including consultants and advisors are expected to conduct themselves in accordance with this Code (or the equivalent of) when dealing with or acting as a representative of the Corporation. |
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| Describe how the policy commitments are communicated to employees, business partners, and other relevant parties |
Policy commitments are communicated to employees and communities via our website, on-site and online training, annual policy review and commitment sign-off. All concerns related to human rights or governance are handled through the company Whistleblower or grievance mechanisms. There is no policy communication for business partners or other relevant parties. |
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| Embedding policy commitments | ||||||||||||||||||||||||
| Describe how the organization embeds each of its policy commitments for responsible business conduct throughout its activities and business relationships | Rio2's Board of Directors, the CEO, and the CFO are in charge of overseeing the fulfillment of Rio2's Code of Business and Ethics and associated policies. | |||||||||||||||||||||||
| How are responsibilities allocated in order to implement the commitments across different levels within the organization |
The HR department communicates with all Department leaders on the responsibility vested in their different roles as in policy compliance from their assigned teams. In turn, the CEO reports all concerns and developments to the HSE Committee of the Board. Accountability is continuously communicated as a response to a failure to comply with the Company policies. |
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| How are the commitments integrated into organizational strategies, operational policies, and operational procedures |
The Company holds mandatory meetings where the policies are communicated. It is expected for all employees to take these policies into consideration when planning or executing their work-related tasks. |
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| How does the organization implement its commitments with and through its business relationships | Contractors are given feedback sessions on how to behave and how to expect their teams to behave. | |||||||||||||||||||||||
| What implementation training does the organization provide | The Company provides annual in-person and online training. | |||||||||||||||||||||||
| Governance structure and composition | ||||||||||||||||||||||||
| Describe the 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.) |
Rio2’s Board of Directors is responsible for the strategic supervision and direction of Management of Rio2 Limited. The Board is composed of seven directors, each with a specific and strategic level of expertise beneficial to the business of the Company. The CEO is appointed by the Board and tasked with achieving the strategic objectives of the Company and its operational priorities. |
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| Identify and list the committees of the highest governance body that are responsible for decision making and overseeing the management of the organization’s impacts on the economy, environment and people including the oversight of sustainability-related risks and opportunities (e.g. Board level Environment Committee, Safety Committee, ESG Committee, Advisory Committee, etc.) |
The committees responsible for decision-making on economic, environmental, and social topics including the Corporate Governance and Compensation Committee, the Audit Committee, and the Health, Safety, and Community Committee. Please see the links below for the Health, Safety, and Community Charter, and the Audit Committee Charter. |
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| Audit Committee Charter | HSE Committee Charter | |||||||||||||||||||||||
| Describe the composition of the highest governance body and its committees by: | ||||||||||||||||||||||||
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Number of executive members (non-independent) |
2 | |||||||||||||||||||||||
| Number of non-executive members (non-independent) | 0 | |||||||||||||||||||||||
| Number of independent members | 5 | |||||||||||||||||||||||
| The total number of governance body members | 7 | |||||||||||||||||||||||
| Percentage of independent board members | 71.4286% | |||||||||||||||||||||||
| Less than 3 years of tenure of members on the governance body | 0 | |||||||||||||||||||||||
| 3-6 years of tenure of members on the governance body | 1 | |||||||||||||||||||||||
| 6-9 years of tenure of members on the governance body | 6 | |||||||||||||||||||||||
| 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 |
Two of our board directors hold significant positions and commitments to other organizations as follows: Lead Director Klaus Zeitler (Chairman of the Board of Rio2 Limited in 2021) is also the Executive Chairman of Amerigo Resources Ltd. and Director of Western Copper and Gold Corporation. The Chairman of Rio2's Audit Committee Ram Ramachandran is also the CFO of Purepoint Uranium Group Inc. |
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| Number of Male governance body members | 7 | |||||||||||||||||||||||
| Number of Female governance body members | 0 | |||||||||||||||||||||||
| Number of Non-Binary governance body members | 0 | |||||||||||||||||||||||
| Number of members from under-represented social groups | 0 | |||||||||||||||||||||||
| Description of competencies relating to economic, environmental, and social topics | Please see attached disclosure. | |||||||||||||||||||||||
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| 2024 Rio2 Board Competencies | ||||||||||||||||||||||||
| Description of stakeholder representation, including employees and other workers | Rio2 is a Canadian exploration and development company. Its stakeholder representation consists of employees and workers who are not employees, trade union service suppliers, local community suppliers and services, and our shareholders and providers of capital. For a description of our ownership structure, please see the attached file. | |||||||||||||||||||||||
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| Rio2 Ownership Structure | ||||||||||||||||||||||||
| Highest Governance Body | ||||||||||||||||||||||||
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Describe the nomination and selection processes for the highest governance body and its committees |
Shareholders of the Company vote on the appointment of candidates to the Board proposed by Rio2 at the annual general meeting of shareholders. | |||||||||||||||||||||||
| Does the organization have a diversity policy, gender equality or gender equity plan and if so, provide details, link to the policy or attach the file | Currently, Rio2 does not have a Board Diversity Policy but it plans to implement one in the near future. | |||||||||||||||||||||||
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Report the criteria used for nominating and selecting highest governance body members |
The Board determines new nominees to the Board, although no formal process has been adopted. The Board does not have a nominating committee for this purpose. The nominees are generally the result of recruitment efforts by current members of the Board, including as a result of both formal and informal discussions among Board members and officers. In considering Board composition and to encourage an objective nomination process, the Board periodically assesses the size, structure and composition of the Board, taking into consideration current strengths, skills and experience of the Board, proposed retirements and the requirements and strategic direction of the Company. | |||||||||||||||||||||||
| Are views of stakeholders (including shareholders) taken into consideration for nominating and selecting highest governance body members | No | |||||||||||||||||||||||
| Is diversity taken into consideration for nominating and selecting highest governance body members | No | |||||||||||||||||||||||
| Is independence taken into consideration for nominating and selecting highest governance body members | Yes | |||||||||||||||||||||||
| Discuss how independence is considered for nominating and selecting highest governance body members | The Board is currently comprised of five independent directors and two directors who are not considered to be independent. NI 58-101 recommends that the Board of a public company should be constituted with a majority of individuals who qualify as “independent” directors. An “independent” director is a director who has no direct or indirect material relationship with the Company. A material relationship is a relationship that could, in the view of the Board, reasonably interfere with the exercise of a director’s independent judgment. The Board is responsible for assessing director independence. The Board has assessed the independence of each director in accordance with National Instrument 58-101 and NI 52-110. Following this assessment, the Board of Directors concluded that Klaus Zeitler, Sidney Robinson, Ram Ramachandran, Albrecht Schneider, and Drago Kisic are all independent directors under NI 58-101. Alex Black, the Executive Chairman of the Board, and Andrew Cox, the President and Chief Executive Officer of the Company, are members of management and as a result, they are not independent directors. | |||||||||||||||||||||||
| Discuss whether and how competencies relevant to the impacts of the organization are considered | In considering Board composition and to encourage an objective nomination process, the Board periodically assesses the size, structure and composition of the Board, taking into consideration current strengths, skills and experience of the Board, proposed retirements and the requirements and strategic direction of the Company. | |||||||||||||||||||||||
| Chair of the highest governance body | ||||||||||||||||||||||||
| Is the chair of the highest governance body also a senior executive in the organization (non-independent) | Yes | |||||||||||||||||||||||
| Mr. Klaus Zeitler was the Non-Executive Chairman of the Board of Directors of Rio2 Limited until November 2022. On November 28, 2022, Alex Black became the Executive Chairman of the Board. | ||||||||||||||||||||||||
| If the chair is also a senior executive, explain their function within the organization’s management, the reasons for this arrangement, and how conflicts of interest are prevented and mitigated | Alex Black, is the Executive Chairman of the Board of Directors of Rio2 Limited; as such he is deemed not to be an independent director. As explained above, all board committee chairs are independent and the board is comprised of a majority of independent directors. | |||||||||||||||||||||||
| Conflicts of Interest | ||||||||||||||||||||||||
| Describe the processes for the highest governance body to ensure that conflicts of interest are prevented and mitigated | All Rio2 officers and managers maintain an "open door" policy regarding questions of business conduct regarding our Business Conduct and Ethics Code and its applicability. Employees are encouraged to be alert to any work-related activities that could be construed as a violation of this Code. They have an obligation to promptly report potential violations orally, in writing, or, if preferred, anonymously. Rio2 has finalized the design of an intranet platform and also provides physical and virtual channels for employees to report violations to the Company's Code of Business Conduct and Ethics of the Company. | |||||||||||||||||||||||
| Are conflicts of interest disclosed to stakeholders | 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 | Yes | |||||||||||||||||||||||
| 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) | The Board did not receive training in 2024. | |||||||||||||||||||||||
| 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 |
In 2024 the Board met with Management four times to discuss strategy and goals for the development of the Fenix Gold Project. Financial, social, and environmental topics were discussed. |
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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 | HSE impacts are assessed and managed by the HSC Board Committee as mandated by its charter and the Company's Safety, Occupational Health, Environment, and Social Responsibility Policy. | |||||||||||||||||||||||
| Does the highest governance body engage with stakeholders to support due diligence and other processes | No | |||||||||||||||||||||||
| Describe how the highest governance body considers the outcomes of these processes | All issues requiring actions are identified, addressed, and reported regularly to the Board by the HSC Committee. | |||||||||||||||||||||||
| Ethics | ||||||||||||||||||||||||
| Ethics and Integrity | ||||||||||||||||||||||||
| Describe how individuals can seek advice on implementing the organization’s policies and practices for responsible business conduct | The Company encourages employees to express their concerns through an open-door policy, where everyone can access and communicate with those responsible for addressing the concerns, claims, and complaints of employees. | |||||||||||||||||||||||
| Describe the mechanisms for individuals to raise concerns about the organization’s business conduct | Procedures are in place in the business units to address claims, concerns, and complaints, including telephone communication channels, e-mails from those responsible for handling such claims, and the intranet. | |||||||||||||||||||||||
| 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 (currency, Thousands) | 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 (currency, Thousands) | 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 (currency, Thousands) | 0 | |||||||||||||||||||||||
| Describe the significant instances of non-compliance | Rio2 is in compliance with all environmental laws and regulations pertaining to the Fenix Gold Project in Chile. | |||||||||||||||||||||||
| 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 |
Rio2 has zero tolerance for bribery and corruption in all business dealings and relationships, in all jurisdictions in which it operates. Implementing and enforcing effective systems to prevent bribery and corruption is central to this approach. For this reason, Rio2 has adopted an Anti-Bribery and Anti-Corruption Policy to avoid and prevent bribery and corruption in all business dealings of, and transactions undertaken by, the Corporation. This Policy provides information and guidance on how to recognize and deal with bribery and corruption issues and provides guidelines and establishes procedures to ensure that all those working for, on behalf of, and with the Corporation have a clear and consistent understanding of how to avoid and prevent bribery and corruption. This Policy applies to all employees and consultants of Rio2 and its subsidiaries. Please refer to the link below to access Rio2's Anti-Bribery and Anti-Corruption Policy. |
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| Rio2 Anti-Bribery and Anti-Corruption Policy | ||||||||||||||||||||||||
| If applicable, discuss operations that are located in countries with low rankings in the index but present low business ethics risks; the entity may provide similar discussion for operations located in countries that do not have one of the 20 lowest rankings in the index but that present unique or high business ethics risks | Not Applicable. | |||||||||||||||||||||||
| Anti-Corruption | ||||||||||||||||||||||||
| Corruption Risks to Operations | ||||||||||||||||||||||||
| Describe how potential impacts of corruption or risks of corruption are managed in the organization’s procurement practices and throughout the supply chain | Rio2's procurement unit recognizes that contract awards and bidding processes can pose a risk of corruption. To address this concern, a strict set of norms have been established that define instances of misconduct. These instances serve as valid reasons for systematically excluding individuals or entities from the contract award process and for terminating all professional relationships and contracts. | |||||||||||||||||||||||
| Total number of operations assessed for corruption risks | 1 | |||||||||||||||||||||||
| Percentage of operations assessed for corruption risks | 100.0000% | |||||||||||||||||||||||
| Has the company identified any significant corruption risks | No | |||||||||||||||||||||||
| Confirmed Incidents and Response | ||||||||||||||||||||||||
| Total number and nature of confirmed incidents of corruption | 0 | |||||||||||||||||||||||
| Total number of Bribery cases | 0 | |||||||||||||||||||||||
| Total number of Lobbying cases | 0 | |||||||||||||||||||||||
| Total number of Extortion cases | 0 | |||||||||||||||||||||||
| Total number of Cronyism cases | 0 | |||||||||||||||||||||||
| Total number of Nepotism cases | 0 | |||||||||||||||||||||||
| Total number of Parochialism cases | 0 | |||||||||||||||||||||||
| Total number of Patronage cases | 0 | |||||||||||||||||||||||
| Total number of Influence peddling cases | 0 | |||||||||||||||||||||||
| Total number of Graft cases | 0 | |||||||||||||||||||||||
| Total number of Embezzlement cases | 0 | |||||||||||||||||||||||
| Total number of confirmed incidents in which employees were dismissed or disciplined for corruption | 0 | |||||||||||||||||||||||
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Total number of contracts terminated or not renewed with business partners due to corruption related violations |
0 | |||||||||||||||||||||||
| Number of public legal cases brought against the organization or its employees during the reporting period related to corruption and the outcomes of such cases | 0 | |||||||||||||||||||||||
| Contracts and Owners Transparency | ||||||||||||||||||||||||
| Are company's contracts and licenses made publicly available | No | |||||||||||||||||||||||
| If contracts are public, where are they published | Material contracts are published on the Company's profile with Sedar+ at www.sedarplus.ca. | |||||||||||||||||||||||
| If contracts or licenses are not publicly available, the reason for this and actions taken to make them public in the future | In the course of its business, the Company enters into numerous contracts and obtains licenses, most of which contain confidentiality clauses. Contracts impacting shareholder rights are disclosed to the market and published on Sedar+. | |||||||||||||||||||||||
| Name, nationality, and country of residence of the organization’s beneficial owners, including joint ventures | Rio2 is a public company listed in the TSXV in Canada, in the OTCQX in the United States and in Bolsa de Valores de Lima and, as such, its beneficial owners are located in many areas of the world. | |||||||||||||||||||||||
| Are the beneficial owners politically exposed persons | No | |||||||||||||||||||||||
| Level of ownership | N/A | |||||||||||||||||||||||
| How is ownership or control exerted | N/A | |||||||||||||||||||||||
| Communication and Training | ||||||||||||||||||||||||
| Total number of governance body members that the organization's anti-corruption policies and procedures have been communicated to | 7 | |||||||||||||||||||||||
| Total percentage of governance body members that have been communicated to on anti-corruption | 100.0000% | |||||||||||||||||||||||
| Anti-corruption policies and procedures communication to direct employees by type: | ||||||||||||||||||||||||
| Total percentage of the direct employees that have been communicated to on anti-corruption | 75.7576% | |||||||||||||||||||||||
| Percentage of senior management employees that have been communicated to on anti-corruption | 78.9474% | |||||||||||||||||||||||
| Total number of governance body members that have received training on anti-corruption | 7 | |||||||||||||||||||||||
| Total percentage of governance body members that have received training on anti-corruption, broken down by region | 100.0000% | |||||||||||||||||||||||
| Total number and percentage of direct employees that has received training on anti-corruption, broken down by employee category and region | ||||||||||||||||||||||||
| Total number of direct employees | 66 | |||||||||||||||||||||||
| Total percentage of direct employees that received training on anti-corruption | 75.7576% | |||||||||||||||||||||||
| Total number of senior management employees | 19 | |||||||||||||||||||||||
| Percentage of senior management employees who received training on anti-corruption | 78.9474% | |||||||||||||||||||||||
| Security Practices | ||||||||||||||||||||||||
| Policy and Procedure Training | ||||||||||||||||||||||||
| Describe how the organization seeks to prevent or mitigate potential negative impacts from the use of public and private security providers | ||||||||||||||||||||||||
| Has the organization implemented the Voluntary Principles on Security and Human Rights | Yes | |||||||||||||||||||||||
| Risk Management | ||||||||||||||||||||||||
| Describe the role of the highest governance body in reviewing the effectiveness of the organization’s processes to manage and identify impacts on economy, environment and people | Management informs the HSE Committee of the Board of the identified impacts and plans to manage or reduce them as the case may be. | |||||||||||||||||||||||
| Frequency of review by the highest governance body in reviewing effectiveness of the organization’s processes | Annually | |||||||||||||||||||||||
| Highest Review Position | ||||||||||||||||||||||||
| Is the highest governance body responsible for reviewing and approving the reported information, including the organization’s material topics | Yes | |||||||||||||||||||||||
| Describe the process for reviewing and approving the reported information | The HSE committee reviews and approves and recommends that the Board approve the information provided in the annual ESG reports. | |||||||||||||||||||||||
| If the highest governance body is not responsible for reviewing and approving the reported information, including the organization’s material topics, explain the reason for this | N/A | |||||||||||||||||||||||
| Communication of critical concerns | ||||||||||||||||||||||||
| Are critical concerns communicated to the highest governance body | Yes | |||||||||||||||||||||||
| Describe how critical concerns are communicated to the highest governance body | It is possible for concerns and complaints to be communicated to the highest governance body through the communication mechanism established in the company's code of conduct, as well as in corporate policies. | |||||||||||||||||||||||
| Report the number of critical concerns that were communicated to the highest governance body during the reporting period | 0 | |||||||||||||||||||||||
| Remuneration | ||||||||||||||||||||||||
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Report which of the following remuneration policies apply to the highest governance body and senior executives and provide details: |
As per below. | |||||||||||||||||||||||
| Fixed pay | Yes | |||||||||||||||||||||||
| Senior executives have signed employment agreements with a fixed salary. Directors are compensated with a fixed retainer and meeting fees. | ||||||||||||||||||||||||
| Variable pay | No | |||||||||||||||||||||||
| Performance-based pay | Yes | |||||||||||||||||||||||
| The Company reserves the ability to award performance-based bonuses. In 2023 the performance bonus was set at zero. | ||||||||||||||||||||||||
| Equity-based pay | Yes | |||||||||||||||||||||||
| During the reporting year, Rio2 paid compensation for directors and some officers with the issuance of common shares as approved by disinterested shareholders in special meeting. | ||||||||||||||||||||||||
| Bonuses | Yes | |||||||||||||||||||||||
| As disclosed above. | ||||||||||||||||||||||||
| 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 |
The Compensation Committee reviews the achievement of project specific goals included in the Company’s plans such as: identifying mineral prospects; executing successful drill programs; advancing or completing scoping, pre-feasibility, or feasibility studies; building and maintaining social license through community relationships and initiatives; acquiring necessary permits, and successfully advancing projects and/or initiatives that accomplish the Company’s goals. In addition, the Committee considers management’s performance in unplanned situations and their ability to manage projects through complex political and social situations. Finally, corporate objectives such as successful capital raising (if applicable), peer benchmarking and market performance are considered. |
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| Describe the process for designing remuneration policies | The CGC Committee of the Board has retained the services of an independent firm, Lane Caputo Compensation Inc., to undertake a full review of the Company's compensation program for its executive officers and directors. Lane Caputo provided information and advice regarding executive compensation for the company based on comparable industry companies and other relevant factors. A peer group of mining companies was developed against which Lane Caputo benchmarked the competitiveness of Rio2's senior executives and Board Compensation practices. | |||||||||||||||||||||||
| Describe the process for determining remuneration |
The Company has a compensation structure defined based on three key criteria: 1.- Internal Equity: which constitutes the relative value of their position (in terms of functions and responsibilities) within the organization, which includes: a) Know How: this is valued in relation to the experience that each person has in each position held, as well as in relation to the previous knowledge they possesses for the performance of their functions and consequently the achievement of the objectives. b) Problem solving: the ability to make decisions autonomously within the Company in order to solve and successfully face the challenges that exist in their area of responsibility. c) Responsibility for results: measured in the impact of costs and budget for which you are in charge and have responsibility for their approval and execution in relation to other positions within the Company. 2.- External competitiveness: this has allowed us to establish a real comparison between what the national sectorial labor market pays (comparable to your functions and responsibilities) and what Fenix Gold has defined to be able to compensate its workers economically in a competitive way, taking into consideration companies similar to Fenix Gold (mining project under development). 3.- Meritocracy: which helps us to compensate for good performance, which allows us to manage compensation variably. |
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| Are independent members of the highest governance body or an independent remuneration committee overseeing the remuneration process | Yes | |||||||||||||||||||||||
| How the views of stakeholders (including shareholders) regarding remuneration are sought and taken into consideration | Company shareholders do not vote on executive compensation at this time. | |||||||||||||||||||||||
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Are remuneration consultants involved in determining remuneration |
Yes | |||||||||||||||||||||||
| Are remuneration consultants independent of the organization, the highest governance body and senior executives | Yes | |||||||||||||||||||||||
| Stakeholder Engagement | ||||||||||||||||||||||||
| Describe the organization’s approach to stakeholder engagement, including frequency of engagement by type | Please refer to the attachment Stakeholder Engagement report below. | |||||||||||||||||||||||
| Provide a list of stakeholder groups engaged by the organization |
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| Report the basis for identifying and selecting stakeholders with whom to engage | Rio2 defines a stakeholder as any individual or group with an interest in our business operations, projects, and achievements. Our stakeholders are deeply invested in Rio2's success, as their interests closely align with our business activities. We believe that our growth and success are intrinsically connected to the engagement and support of our stakeholders. | |||||||||||||||||||||||
| Report the purpose of the stakeholder engagement | Please see attached disclosure. | |||||||||||||||||||||||
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| Stakeholder Engagement 2024 | ||||||||||||||||||||||||
| Describe how the organization seeks to ensure meaningful engagement with stakeholders |
Rio2 is committed to fostering clear and well-defined communication channels while maintaining transparency in its business practices. The company accomplishes this by identifying and mapping its stakeholders, often seeking assistance from external parties when necessary. By understanding the interests and influence of these stakeholders, Rio2 develops tailored engagement strategies and creates clear communication plans. The company then implements engagement initiatives and continuously monitors and measures progress. This process highlights the importance of transparency, the objective sharing of information, and recognizing the effect of stakeholder involvement on the company’s decisions. Additionally, Rio2's senior executives are regularly available to engage with stakeholders. |
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| Tax | ||||||||||||||||||||||||
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Describe the approach to stakeholder engagement and management of stakeholder concerns related to tax |
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| The approach to engagement with tax authorities | Rio2 retains third-party experts to advise on tax related issues and ensure full compliance with tax obligations. | |||||||||||||||||||||||
| The approach to public policy advocacy on tax | Rio2 does not engage in public policy advocacy on tax-related issues. | |||||||||||||||||||||||
| The processes for collecting and considering the views and concerns of stakeholders, including external stakeholders | Rio2 does not engage in public policy advocacy on tax-related issues. | |||||||||||||||||||||||
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| , Planet Earth's complete ESG reporting solution. | ||||||||||||||||||||||||
