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Rigorous Due Diligence

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As a capital provider, we recognize that the point at which we have the greatest influence to foster good sustainability practices within our portfolio takes place in the moments before we commit our capital and with our ongoing portfolio management decisions. We value sustainability practices as a core pillar to our identity. Our due diligence is foundational to our investment decision-making process and therefore is comprehensive in scope, highly detailed and designed to fit the specifics of each situation.

The broad scope of our due diligence includes but is not limited to:

  • Air quality
  • Water management and treatment
  • Biodiversity impacts
  • Tailings & waste management
  • Human rights
  • Security, Community relations
  • Labor practices
  • Workforce health & safety
  • Business ethics & transparency

Resource and reserve estimates, “Mine life, production profile and scalability potential”, “mining method, processing technology, and infrastructure”, “site access, logistics, and proximity to utilities/ water”, and historical performance and operating efficiency.

Approach

When conducting due diligence, we consider all of these parameters both at that time as well as over the history of the asset. We conduct robust due diligence with the objective of investing in projects and companies that are well-managed and where the range of Sustainability aspects and impacts are such that the mine operates sustainably over the long term to protect our investments and reputation, along with those of our stakeholders and investors.

We do not and will not invest in opportunities that fail to meet our strict set of performance standards in any one of these areas, regardless of the apparent economic merit. For example, we do not invest in any opportunities that involve riverine tailings disposal, child labor or forced labor. Post-investment, we continue to track our partners' ESG-related metrics, most of which are disclosed in their public filings or websites.

We believe that optimal ESG performance helps ensure that: the mines and projects we invest in are operated and developed responsibly to protect worker health, safety and the environment; social impacts are identified, managed and mitigated; human rights are respected; and benefits accrue to local communities and a broad range of stakeholders. Strong sustainability management by our partners helps ensure that our investments enjoy the privilege to operate from those affected by mining, protecting our business and shareholders and, ultimately, our reputation.