1、CONTENTSOUR APPROACH TO SUSTAINABILITY .1Our guiding principles .2Material matters .4OUR BUSINESS MODEL .6Q&A WITH OUR CHAIRPERSON OF THE BOARD .8WORKING TOWARDS GLOBAL GOALS .10Q&A WITH OUR SUSTAINABILITY COMMITTEE CHAIRPERSON .11ENVIRONMENTAL .13AN OVERVIEW FROM OUR CEO .19SOCIAL .20Our corporate
2、social investment inLesotho .24Q&A WITH OUR COO .26EMPLOYEES .29GOVERNANCE AND ETHICS .33 OUR APPROACH TO SUSTAINABILITYThis Sustainability Report 2024 outlines our sustainability performance during the reporting year.We encourage our stakeholders to read this report together with the Groups Annual
3、Report and Accounts 2024.We transparently report on our material sustainability matters,guided by the Global Reporting Initiative(GRI)Standards,the International Finance Corporation(IFC),the Equator Principles,the Task Force on Climate-related Financial Disclosures(TCFD)recommendations and applicabl
4、e standards of the International Organization for Standardization(ISO).Gem Diamonds is a constituent of the FTSE4Good Index Series.SCOPE AND BOUNDARYOur Sustainability Report covers each operation managed by the Group in 2024 and is guided by our material matters.We present the opportunities and ris
5、ks associated with our material matters as material themes,outlined on page 4.Each material matter directly or indirectly affects our ability to create or preserve economic,environmental and social value.DATAData in this report is based on our continuous monitoring and analysis of performance criter
6、ia,guided by the TCFD recommendations,GRI Standards,IFC Environmental,Health and Safety Guidelines and Equator Principles,as appropriate.Data is reported to the Group monthly,quarterly and annually and reported in the Sustainability Report to show three-year comparatives.Although the data in this re
7、port is not independently verified,it is endorsed by our annual internal quality control processes as well as external safety,health,legal and environmental system audits.Annual assessments of our carbon,energy,and water footprints are conducted by external and independent subject matter experts.TER
8、MS USED IN THIS REPORTGem Diamonds,the Group or the CompanyGem Diamonds Limited and all companies in the Gem Diamonds GroupThe company/operationThe relevant subsidiary company of the Group(for example,Leteng)LetengThe Leteng mine in the Kingdom of Lesotho(Leteng Diamonds(Proprietary)Limited)GhaghooT
9、he Ghaghoo mine in the Republic of Botswana(Gem Diamonds Botswana(Proprietary)Limited)OUR SUSTAINABILITY PRINCIPLESUpholding business integrityWe are committed to meeting our responsibilities as an ethical and accountable organisation through a strong culture of corporate integrity and robust govern
10、ance.Prioritising environmental protectionWe are committed to minimising the impact of our operations on the natural environment by mitigating potential environmental impacts,responsibly managing natural resources and rehabilitating the environment during operations and at mine closure.Creating a sa
11、fe and healthy working environmentWe promote a culture of zero harm and responsible care through effective risk management that prioritises our workforce.Prioritising the development and well-being of our employeesWe aim to foster respectful and mutually beneficial relationships with our employees b
12、y prioritising their development and well-being and promoting equality and diversity in our workforce.Improving resource use efficienciesWe are committed to continuously minimising wasteful use of the resources required to conduct business.Improving resource use efficiencies through innovation and c
13、apital efficiency will improve the long-term sustainability of the Group and protect non-renewable natural resources.Optimising socio-economic benefitWe believe it is our moral obligation to contribute to the sustainable socio-economic growth of the areas in which we operate.Our approach to sustaina
14、bilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 20241OUR GUIDING PRINCIPLESCARAT CLARITY PurposeProduce the best diamonds,in the best way,leavin
15、g a lasting legacyVisionA world full of Gem diamondsCUT COLOUR The way we do things(values)Care We listen and respond responsibly to the needs of our employees,communities and shareholders.We honour our commitments to stakeholders,and care for the natural environment in which we operate.Trust We emp
16、ower our people and trust them to make decisions that will deliver on our strategy.Ethical We promote a culture of ethical behaviour and conduct ourselves in a manner consistent with good governance practices.We have zero tolerance for bribery and corruption and pride ourselves on being socially and
17、 environmentally responsible.Respect We cultivate an open and transparent culture where we respect and value the beliefs,ideas and contributions of all our stakeholders.Everyone matters and is treated equally.Flexible and open-minded We encourage and consider ideas from employees and project-affecte
18、d communities(PACs)while remaining responsive and agile.Passionate and fun We enjoy the work we are fortunate to do and the people we do it with.We seek opportunities to explore and develop while encouraging a healthy work-life balance.CultureWe invest in our workforce to create an environment where
19、 every person is proud to be part of our organisation.Mutual respect and care are shared throughout the Group,but extend to the wider society.Individuals are valued for their differences and are empowered to thrive,grow and contribute to a common goal,holding themselves and each other accountable fo
20、r delivering on their promises.We support,develop and empower our people so that:a meaningful,sustainable contribution is made to the countries in which we operate;we can deliver long-term value to our shareholders;andour employees benefit in the short and long term.Our approach to sustainabilityGem
21、 Diamonds Limited Sustainability Report 20242Gem Diamonds Limited Sustainability Report 20243MATERIAL MATTERSMaterial matters are topics that directly or indirectly impact our ability to create or preserve economic,environmental and social value for our organisation,stakeholders and society at large
22、.Our material matters include risks we must manage and opportunities we can leverage to enhance the sustainable viability of our business in the short,medium and long term.How we determine materiality We compiled a list of material matters following a detailed materiality review in 2023(see below).T
23、he review considered internal and external research through a double materiality lens.We prioritise our material matters in terms of their effect on our financial and operational performance as well as their impact on society,host communities and the natural environment.INPUTSGlobal operating contex
24、tGlobal risk registersIndustry researchPeer reportsReview material risksReview prior material mattersUnited Nations(UN)Sustainable Development Goals(SDGs)Internal documentationMedia releasesFinancial resultsWe circulated an online survey to rank material matters to the Board and employees across ope
25、rationsThe approved matters form the basis of our sustainability reportingOur approach to sustainabilityGem Diamonds Limited Sustainability Report 20244Conduct a thorough review of the external operating contextConduct a detailed review of the internal operating environment and business performanceP
26、rioritise and verify identified material mattersReport against our identified material mattersOur material mattersEnvironmentEmployeesAManaging our environmental footprintsJProviding a safe working environmentBManaging and addressing climate change and extreme natural eventsKAttracting and retaining
27、 qualified peopleCEnsuring consistent electricity supply and minimising energy consumptionLProviding learning and development opportunities for employeesDPlanning for mine closure,protecting biodiversity and enhancing conservationMCaring for our employees health and well-beingNEngaging with employee
28、s and elected representativesSocialGovernance and ethicsESafeguarding our communitiesOImplementing effective Board-approved environmental,social and governance(ESG)strategiesFEnsuring positive engagement with our stakeholdersPPrioritising business integrityGWorking with communities to understand and
29、 meet their needsQEnsuring transparent governance and remuneration practicesHCreating shared value through localisationREnsuring legal,regulatory and governance excellenceIHonouring our social compactSRaising standards across the pipelineTProtecting the premium brand of diamondsOur approach to susta
30、inabilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 20245OUR BUSINESS MODELOur business modelGem Diamonds Limited Sustainability Report 20246*Ima
31、ges supplied by Graff Diamonds International.Financial People SustainabilityOur approach to sustainabilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Rep
32、ort 20247Q AND A WITH OUR CHAIRPERSON OFTHEBOARDPLEASE REFLECT ON GEM DIAMONDS SUSTAINABILITY PERFORMANCE IN 2024 Despite the ongoing challenges facing the diamond market in 2024,the unwavering discipline shown by our operational and management teams in embedding sustainability into our core operati
33、ons was central to our resilience.The synergy between operational efficiency and sustainability fostered a unified culture,instilling purpose and pride as we navigated the tough diamond market conditions.This approach enabled us to maximise value,minimise costs and uphold our commitment to health,sa
34、fety,environmental and social standards.While we are pleased with our strong safety performance during the year,we are acutely aware of the need to be constantly alert.In addition,we made significant strides in environmental stewardship,including the successful commissioning of our bioremediation pl
35、ant,expansion of our rehabilitation initiatives and provision of water infrastructure to local communities.HOW WOULD YOU EVALUATE THE STANDARD OF GOVERNANCE ACROSS THE GROUP?I am proud of the strength and effectiveness of our governance structures and processes.Despite our lean team,we ensure that w
36、e retain a broad range of appropriate skills on the Board and within Executive Management,enabling us to maintain robust operating processes and controls that are consistently reviewed and refined for improvement.Annual Board performance reviews help us ensure that our structures remain aligned with
37、 the business,fostering constructive discussions around risks and opportunities.The Board and its Committees conduct regular reviews of the Groups policies,covering critical areas such as health,safety,human rights,sustainability and anti-corruption.Compliance with these policies is non-negotiable;t
38、he Board ensures adherence through in-depth Committee discussions supported by accurate and actionable information from Executive Management.We also prioritise open communication with our employees through regular engagements with a designated Director and management teams.This enables the Board to
39、better understand employee challenges and concerns,and maintains a valuable connection with our workforce.Chairperson of the BoardGem Diamonds Limited Sustainability Report 20248The pride and discipline reflected in the work of our operations and management teams is key to our resilience and bodes w
40、ell for our ability to continue to deliver on our sustainability and operational goals.Harry Kenyon-SlaneyWOULD YOU LIKE TO EXTEND ANY THANKS OR APPRECIATION?I would like to express my gratitude to our community and government partners for their ongoing support and collaboration and to extend my tha
41、nks to my fellow Board members for their invaluable contributions throughout 2024.A special thank you goes to the operational and senior management teams for their unwavering dedication in driving down costs while upholding the high operational and sustainability standards to which we have always as
42、pired.I also want to acknowledge our Ghaghoo team for their exemplary remediation and rehabilitation efforts,including safely and efficiently decommissioning and removing the treatment infrastructure from site.Their hard work and commitment are deeply appreciated.Finally,I am pleased to warmly welco
43、me our new colleagues who have joined the Company as part of the insourcing of our mining and processing contracts at Leteng.We look forward to working closely with them to ensure the continued success of the mine.Our approach to sustainabilityOur business modelChairperson of the BoardWorking toward
44、s global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 20249WORKING TOWARDS GLOBAL GOALSTo ensure that we create sustainable value for our stakeholders,we have embedded material UN SDGs into the Groups strategy,sy
45、stems and processes.Our second three-year UN SDG cycle commenced in 2024 and includes eight adopted UN SDGs to generate added sustainable value for stakeholders over the 2024 2026 period.No povertyZero hungerGood health and well-beingClean water and sanitationDecent work and economic growthReduced i
46、nequalitiesResponsible consumption and productionClimate actionUN SDG second cycleYear 1:2024Year 2:2025Year 3:2026Perform a gap analysis to evaluate alignment with each UN SDGFocus on addressing shortfalls identified in the first year and further strengthening achievementsEvaluate the success of ou
47、r measures to ensure their sustainable applicationThe interconnectedness of value creationAcross the business,we focus on practical and implementable measures to deliver maximum value for stakeholders.Three key priorities support our strategy in delivering this value:Extracting Maximum Value from Ou
48、r Operations Business integrityOrganisational health and safetyAdvancing our peopleWorking Responsibly and Maintaining Our Social LicenceBusiness integrityEnvironmental stewardshipOrganisational health and safetyEnhancing community benefitsPreparing for Our Future Business integrityEnvironmental ste
49、wardshipOrganisational health and safetyAdvancing our peopleResource efficiencyEnhancing community benefitsSustainability principles underpin our prioritiesUpholding business integrityPrioritising environmental protectionCreating a safe and healthy working environmentPrioritising the development and
50、 well-being of our employeesImproving resource use efficienciesOptimising socio-economic benefitThe UN SDGs support,contextualise and inform the principles Working towards global goalsGem Diamonds Limited Sustainability Report 202410Q AND A WITH OUR SUSTAINABILITY COMMITTEE CHAIRPERSONPLEASE REFLECT
51、 ON GEM DIAMONDS SUSTAINABILITY PERFORMANCE OVER THE PAST YEARThe past year was positive from a sustainability performance perspective,reflecting Gem Diamonds ability to balance our sustainability commitments with the realities of a challenging diamond market.We navigated the industry-wide pressures
52、 with discipline,achieving a commendable balance between financial prudence and sustainability progress an accomplishment that sets us apart from many of our peers in the junior diamond mining sector.Our focus on cost efficiency and capital discipline has strengthened our sustainability ambitions.Ou
53、r culture of discipline and accountability drives improvements in operations,safety and environmental stewardship.A key milestone in 2024 was our updated life of mine plan,which reduces waste and emissions,aligning operational optimisation and sustainability goals.Our commitment to the UN SDGs remai
54、ns steadfast.The 2024 to 2026 UN SDG framework,incorporating our newly adopted No Hunger and Climate Action targets,is now in implementation.This initiative strengthens our social responsibility efforts while reinforcing our drive towards a lower-carbon future.We have long prioritised understanding
55、our environmental footprint,and our sustained efforts position us well to manage the risks and opportunities associated with nature-related impacts.As we move forward,we do so with confidence in our ability to meet and exceed the evolving expectations of our stakeholders.PLEASE PROVIDE A BRIEF OVERV
56、IEW OF SUSTAINABILITY ACTIVITIES IN 2024Safety and healthI am pleased to report another strong year of safety performance in which we achieved a record low all injury frequency rate(AIFR).This reflects our unwavering commitment to embedding a culture of safety at every level of the organisation.In r
57、esponse to leadership transitions,operational right-sizing and the insourcing initiatives at Leteng,we updated our organisational safety culture maturity programme to ensure alignment with our evolving structure.These efforts reinforce our proactive approach to risk management and continuous improve
58、ment.Our approach to sustainabilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 202411An intense focus on costs positively impacted both operationa
59、l and ESG areas,strengthening our commitment to achieving ESG goals through the clear synergies gained from progress in both areas.Mike BrownI believe that our culture,discipline and safety-focused operational rigour are on par with the industrys most respected mining organisations.This is a testame
60、nt to the dedication of our workforce and our leaderships focus on upholding the highest safety standards.EnvironmentWe remain committed to environmental sustainability,balancing cost discipline with stewardship.Our updated mine plan and strategic interventions keep us firmly on track to reduce our
61、Scope 1 and 2 carbon emissions by 30%by 2030 while enhancing operational efficiency and resilience.Strong governance and leadership underpin our progress in responsible tailings and waste management,with independent reviews affirming our high standards and exemplary practices regarding our residue s
62、torage facilities(RSFs).Our proactive approach ensures that we meet evolving regulatory demands while reinforcing our leadership in sustainability.The success of our bioremediation plant reflects years of sustained investment and innovation,advancing our progress toward a sustainable water stewardsh
63、ip solution.Corporate social investment(CSI)Our CSI initiatives continue to make meaningful progress to the benefit of our project-affected communities(PACs),reinforcing our commitment to sustainable community development.Ongoing performance assessments,skills development and mentorship programmes a
64、re being implemented to enhance the long-term viability of our small and medium enterprise(SME)development projects,fostering economic resilience and self-sufficiency.Infrastructure development remains a key pillar of our community support efforts.Leteng has completed road maintenance projects to im
65、prove connectivity and has delivered water supply infrastructure to several communities.In addition,newly drilled boreholes have secured groundwater access in five PACs,ensuring a reliable local potable water supply.Beyond infrastructure,we remain committed to safeguarding community health.Our water
66、 provision initiatives play a critical role in reducing the risk of E.coli and other waterborne diseases,underscoring our dedication to public health and environmental responsibility.WHAT ARE YOUR FOCUS AREAS IN 2025?A key priority for 2025 is to implement our updated life of mine plan,alongside con
67、tinued optimising of insourced mining and processing efficiencies.These initiatives are critical to enhancing operational effectiveness,reducing resource consumption and sustaining long-term value creation.Given the potential for ongoing market challenges,maintaining strong alignment with our stakeh
68、olders will be essential.We remain committed to fostering transparent,proactive and frequent engagement,ensuring that stakeholders are well informed and aligned with our strategic direction.This approach not only strengthens relationships but also reinforces confidence in our ability to navigate the
69、 evolving industry landscape.WOULD YOU LIKE TO EXTEND ANY THANKS OR APPRECIATION?I extend my gratitude to our COO,Brandon de Bruin,and his team for their disciplined and focused operations management and ongoing efforts to seamlessly integrate sustainability considerations into our day-to-day activi
70、ties.Their commitment remains instrumental in driving our operational and sustainability objectives forward.I also wish to thank my fellow Directors for their continued support and guidance.Committee ChairpersonGem Diamonds Limited Sustainability Report 202412ENVIRONMENTALWe are committed to respons
71、ible environmental stewardship,proactively assessing,mitigating and managing our impact to leave a meaningful legacy for future generations.RELATED SUSTAINABILITY PRINCIPLESImproving resource use efficienciesPrioritising environmental protectionOptimising socio-economic benefitRELATED UN SDGsThe fol
72、lowing UN SDGs relate to our environmental pillar:Refer to our Annual Report and Accounts 2024 for more information on how environmental considerations and associated UN SDGs are integrated into our business operations.SNAPSHOT OF OUR PERFORMANCEZero major or significant environmental incidents for
73、the 16th and 11th consecutive year,respectively 27%reduction in Scope 1 and 2 carbon emissions against our 30%decarbonisation targetUS$2.1million invested in environmental protection in 2024(2023:US$2.3million)US$11.0million environmental rehabilitation provision(2023:US$14.2million)No fines for env
74、ironmental transgressions or non-compliance with host country legislation for the 15th consecutive yearTotal carbon footprint reduced 32%to 104762 tCO2e(2023:110198 tCO2e)Our approach to sustainabilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironm
75、entalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 202413MATERIAL MATTERSManaging and addressing climate change and extreme natural eventsOur context Understanding and mitigating climate-related risks is integral to our long-term resilience.In 2023,we
76、completed the implementation of the TCFD framework,embedding climate risk insights into our business continuity plans and operational strategies.The Group has pledged to reduce Scope 1 and 2 emissions by 30%by 2030,using 2021 as the baseline.This commitment aligns with our decarbonisation strategy,w
77、hich prioritises energy efficiency,consumption reduction and a transition to renewable energy sources.Our science-based approach enables us to assess climate-related risks and material impacts,ensuring proactive management,mitigation and financial planning.Operating in remote and extreme environment
78、s,we have established robust strategies to withstand physical climate risks,including snowstorms,extreme temperatures,excessive rainfall,flash floods and drought.In addition,we closely monitor and model transition risks such as regulatory changes,carbon taxes and global fossil fuel trends to ensure
79、these factors are integrated into our short,medium and long-term strategic planning.Refer to our Annual Report and Accounts 2024 for more information on how climate change has been embedded in our governance,risk management and strategy processes.Our approach Gem Diamonds employs a bottom-up approac
80、h in identifying climate and decarbonisation risks and opportunities,with a strong focus on resource efficiency and carbon reduction.Our strategy prioritises reducing energy consumption,enhancing operational efficiency and transitioning to renewable energy sources,while we track our progress against
81、 defined targets.We embed energy efficiency and decarbonisation initiatives in our operations.Our Board,Executive Management and workforce align to drive these initiatives,ensuring a unified approach to climate action.Our climate strategy secures adequate energy supply for Letengs future needs and o
82、ptimises consumption through advanced on-site energy management systems.We remain committed to decarbonisation projects that contribute to long-term sustainability and facilitate the transition to lower-carbon and renewable energy sources,reinforcing our dedication to responsible mining and environm
83、ental stewardship.Leteng contributes 99%of our total carbon footprint,relying primarily on Eskom-supplied electricity making it the dominant source of our Scope 2 emissions.Due to Letengs remote location and high altitude,viable renewable or alternative electricity sources remain limited,posing chal
84、lenges to fully replacing grid and generator-supplied power.Scope 1 emissions are largely driven by mobile(mining fleet)and stationary(diesel-powered generators)activities,accounting for 98%of these emissions.Our decarbonisation strategy is built on two key pillars:enhancing process and equipment ef
85、ficiency to reduce energy consumption and associated emissions;andtransitioning from fossil fuels to lower-carbon and renewable energy sources where feasible.By focusing on these levers,we aim to improve energy efficiency,reduce our carbon footprint and support long-term sustainability in our operat
86、ions.Our internal carbon-pricing model is critical to managing risk,identifying carbon reduction and cost-saving opportunities and guiding project investment decisions.While the Group is not directly subject to carbon taxes,we assess indirect exposure and consider potential future carbon taxation wh
87、en evaluating investments.Our model is developed through climate scenario planning and incorporates evolving carbon prices aligned with global regulations and market trends.Approved by the Board,it remains adaptable to future changes,ensuring our strategy remains resilient in a shifting regulatory l
88、andscape.Our performanceOur business continuity and disaster management plans are shaped by local weather conditions.Leteng maintains a two-week supply of food and diesel to mitigate access or energy disruptions,while medical teams are trained in high-altitude rescues and emergency care.Dams and sto
89、rage facilities have excess capacity to manage sudden water influxes safely,and our teams assist communities during extreme weather events.With increasing localised flooding and drought,our water management strategy focuses on conservation,recycling and efficient catchment to safeguard this vital re
90、source.In 2024,we recorded a 27%decrease in our Scope 1 and 2 emissions when compared to our baseline 2021 carbon emissions footprint.Refer to the Managing our environmental footprints section below for details of our carbon footprint reduction initiatives.Managing our environmental footprintsOur co
91、ntextWe are committed to minimising environmental impacts and reducing natural resource consumption by collaborating with our value chain to implement cost-effective initiatives.Our operations depend on a reliable water supply and the responsible management of surrounding water resources.Leteng is s
92、ituated at 3 275 metres above sea level,on the watershed between the Khubelu and Matsoku drainages.By the end of 2024,our Mothusi freshwater dam was at 89%capacity,providing enough water to sustain operations for another seven years,even without further precipitation.Our water management plans are i
93、nformed by climate models predicting extended droughts followed by brief,intense rainfall events,and are designed to adapt to these changing patterns.Proper management of mineral and non-mineral waste is essential to our sustainability efforts and the long-term protection of the environment and surr
94、ounding PACs.Our waste management strategy ensures responsible handling and disposal of all waste generated by our operations.EnvironmentalGem Diamonds Limited Sustainability Report 202414Our approachThe Group has established comprehensive sustainability,environmental,climate change and water manage
95、ment policies that outline our commitment to best practices in managing our environmental footprint and impacts(refer to our website at ).These policies consider the needs of all stakeholders and ensure that we meet our operational and PAC requirements.We have implemented a biannual framework to ass
96、ess and model our environmental footprint.Regular evaluations of resource consumption trends enable us to take timely action,implementing initiatives that reduce environmental impacts and enhance resource efficiency.Our decarbonisation strategy prioritises Leteng,which accounts for 99%of the Groups
97、carbon footprint.Our focus is on reducing Scope 1 and 2 emissions by improving energy efficiency and assessing viable opportunities to transition from fossil fuels to lower-carbon and renewable energy sources.By minimising energy demand,we ensure that renewable integration and emission offsets are c
98、ost-effective and efficient.Energy efficiency,alternative energy and decarbonisation are embedded in our business strategy as critical workstreams.In 2024,we implemented key initiatives to cut carbon emissions,including fleet optimisation,maintaining good haul road conditions,upgrading to energy-eff
99、icient lighting,refining blasting practices,minimising mineral waste and relocating services and refuelling infrastructure to reduce travel distances.At Ghaghoo,where no grid electricity is available,power requirements have significantly decreased since the mine was placed on care and maintenance.In
100、 January 2024,a solar power solution replaced diesel generators,cutting CO emissions by 1 066 tonnes annually equivalent to charging 135.5 million smartphones.The system is expected to pay for itself within six months,aligning with the Groups cost reduction and decarbonisation objectives while suppo
101、rting Ghaghoos rehabilitation and closure plans.Water stewardship is a core focus,with a comprehensive management strategy aimed at minimising freshwater use.We actively recycle and reuse water,recover run-off,manage stormwater and seek ways to further reduce reliance on freshwater sources.Letengs w
102、ater-monitoring and stewardship plan includes biannual water footprint assessments and rigorous quality monitoring on-site and downstream.Since 2010,our CSI programme has provided communities with safe drinking water and sanitation facilities,improving public health and restoring ecosystems previous
103、ly affected by E.coli contamination from livestock.We continue to improve our waste reduction efforts to minimise environmental impact and support PACs.Our operations comply with the Basel Convention on hazardous waste,ensuring that all permits are in place for transboundary disposal from Lesotho to
104、 certified sites in South Africa.On-site medical waste incineration reduces transport-related emissions,while non-mineral waste is sorted at source and managed per policy.In 2024,we advanced tyre reuse projects within PACs,promoted green procurement,enhanced food waste composting and updated our was
105、te management strategy.Over the past three years,we have significantly reduced mineral waste volume and footprint.Letengs mineral waste is stored on-site in accordance with national and international standards.Since launching our mineral waste optimisation drive in 2021,we have integrated haul route
106、 planning and waste volume assessments into mining processes to reduce environmental impact.In 2024,we continued to focus on reducing diesel consumption,emissions and equipment wear.The relocation of diesel depots improved efficiency by shortening refuelling distances,resulting in lower fuel usage.A
107、s pit depths increased,driving higher diesel consumption,we worked to minimise tramming distances for maintenance.Where possible,basic maintenance is now performed in-pit,cutting unnecessary travel and further reducing fuel consumption.In addition,the introduction of a heavy equipment trailer enhanc
108、ed our ability to efficiently move mining equipment in and out of the pit,reducing fuel consumption,carbon emissions and equipment wear.We also refined our blasting protocols to reduce blast frequency and explosive use,reducing equipment evacuations,diesel consumption,emissions and costs while maint
109、aining operational efficiency.By continuously refining pit designs,we minimise mineral waste movement reducing hauling distances,fuel use and emissions.These optimisations not only lower costs,especially given high diesel prices,but also improve long-term mine planning by reducing environmental liab
110、ilities and rehabilitation requirements.Leteng upholds a zero oil contamination policy,making hydrocarbon management a top priority.Preventative measures include pre-task inspections,spill response training and continuous monitoring.Workshops and diesel depots are equipped with oil separators to pre
111、vent soil and water contamination,while any accidental spills are treated at our on-site remediation facility.Through integrated sustainability initiatives,decarbonisation and environmental stewardship,we ensure efficiency,cost reduction and responsible mining remain central to our operations.Our pe
112、rformanceCarbonGem Diamonds carbon footprint is calculated every six months in accordance with the Greenhouse Gas(GHG)Protocol Corporate Accounting and Reporting Standard,an accounting tool developed by the World Resources Institute and the Business Council for Sustainable Development to manage GHG
113、emissions.Biannual carbon footprint assessments ensure that we are able to track our performance against our 2030 decarbonisation target and identify further emissions reduction opportunities.Our total 2024 carbon footprint for the Group was 104762 tCO2e(2023:110198 tCO2e),32%lower than our 2021 car
114、bon emissions.This includes direct carbon emissions(Scope 1),energy indirect carbon emissions(Scope 2)and material Scope 3 emissions.Our approach to sustainabilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGov
115、ernance and ethicsGem Diamonds Limited Sustainability Report 202415Carbon emissionsUnit20242021Performance against 2021 baseline(%)Scope 1(direct)tCO2e3365662672(46)Scope 2(indirect)tCO2e6161067473(9)Total Scope 1 and 2tCO2e95266130145(27)Scope 3(indirect)tCO2e949623718(60)Total Scope 1,2 and 3tCO2e
116、104762153863(32)Total tonnes mined(ore and waste)tonnes1047283024395986(57)Ore tonnes treatedtonnes50187396172428(19)Carats recoveredcarats105012115336(9)Intensity indicator:Scope 1 and 2(tCO2e)/tonnes mined(ore and waste)ratio0.0090.005 80 Intensity indicator:Scope 1 and 2(tCO2e)/tonnes ore treated
117、ratio0.0190.021(10)Intensity indicator:Scope 1 and 2(tCO2e)/carats recoveredratio0.9071.128(20)Since 2021,we have significantly reduced Group-wide carbon emissions,driven by a 57%decrease in ore and waste tonnes mined alongside targeted energy efficiency and renewable energy initiatives.These effort
118、s have lowered energy costs while enhancing operational sustainability.The reduced ore and waste profiles since 2021 have resulted in mobile diesel consumption(diesel consumed by our mining fleet and equipment)reducing by 46%.As a result,we have seen a 46%reduction in our Scope 1 carbon emissions ov
119、er the period.Scope 2 emissions have decreased by 9%since 2021(2024:61610 tCO2e),driven by a combination of energy efficiency initiatives implemented and a reduction of ore tonnes treated at Leteng.WaterWe recognise the critical role of climate change in reshaping freshwater resources,with shifting
120、precipitation patterns affecting water availability.As a responsible mining company,water stewardship is a core component of our business strategy,ensuring both ecosystem health and operational sustainability.At Leteng,ongoing water analysis identified elevated nitrate levels in certain water catchm
121、ent areas.This can result from mining activities,natural soil processes and external sources,such as fertilisers and waste.In response,we commissioned a nitrate management study to implement long-term solutions,working closely with Lesothos government through an official nitrate task team.Key initia
122、tives include:Wetland construction and rehabilitation to enhance natural water filtration.Refined blasting practices to minimise nitrate release.Collaboration with water conservation experts to trial fertigation,bioremediation and leach testing.Implementation of passive treatment technology,with pil
123、ot studies confirming bioremediation as an effective solution.A bioremediation treatment plant with a capacity of 300 kilolitres per day has been fully commissioned.Design and implementation of artificial phytoremediation wetlands,complementing an existing wetland within the mine lease area to furth
124、er improve water quality,enhance biodiversity and support environmental rehabilitation.These initiatives reinforce our commitment to sustainable water management,ensuring responsible operations while protecting vital water resources.Refer to the detailed water stewardship case study in our Sustainab
125、ility Report 2022,which is available at ,for more on our approach.We remain committed to ensuring that our PACs have access to sufficient potable water.Through Letengs CSI initiatives,we have provided clean water and sanitation infrastructure to multiple villages in Lesotho,helping communities addre
126、ss coliform contamination caused by livestock fouling an issue unrelated to mining activities.At Ghaghoo,we continue to supply potable water to the Gope community,supported by a dedicated water storage facility located at the nearby police camp.Our efforts reflect our ongoing commitment to community
127、 well-being and sustainable water access beyond our operational responsibilities.The Group water footprint(net water usage)for 2024 was 3.4 million cubic metres(m3)(2023:3.0 million m3),mainly due to a reduction in the water discharge rate.Since 2021,the Group has achieved a 53%reduction in net wate
128、r usage and a 78%decrease in water withdrawal and capture,reflecting our commitment to responsible water stewardship.Our operations are not water-intensive,and ore processing remains the primary activity requiring water input.To enhance efficiency and minimise water loss,we have implemented multiple
129、 water efficiency and water loss prevention initiatives since 2021,leading to a 44%improvement in net water use per tonne of ore treated.Refer to our Annual Report and Accounts 2024 for more on our water footprint and consumption performance metrics.EnvironmentalGem Diamonds Limited Sustainability R
130、eport 202416Ensuring consistent electricity supply and minimising energy consumptionOur contextWe require a stable and reliable power supply for mining operations.In 2023,load shedding in South Africa reached unprecedented levels,affecting the grid for 335 days.In 2024,load shedding decreased to 83
131、days,reducing Letengs reliance on diesel-powered generators.Leteng accounts for 99%of the Groups total energy consumption,making energy security a key operational and financial priority.Energy efficiency remains a strategic focus,regardless of whether power is sourced from the Eskom-supplied South A
132、frican grid or diesel generators.Our energy savings initiatives are essential to ensuring long-term operational sustainability,reducing costs,improving efficiency and lowering carbon emissions.Our approachWe acknowledge the need to transition to lower-carbon energy sources while ensuring a reliable
133、power supply for our operations.Letengs operations rely heavily on fossil fuels,and while we continue to explore alternative energy options,the high altitude and extreme environment limit our ability to transition to lower-carbon energy.In 2024,our Ghaghoo operation,currently in care and maintenance
134、,was fully powered by solar energy.Our TCFD adoption strategy has highlighted that improving energy efficiency is the first and most effective step towards decarbonisation.By reducing overall energy demand,we enhance sustainability while pursuing a cost-effective transition to alternative energy sou
135、rces.We continue to evaluate emerging technologies and renewable energy supply solutions to reduce our carbon footprint and secure a stable,cost-effective and sustainable energy supply.Our performanceThe Group has implemented a number of initiatives since adopting the TCFD recommendations to reduce
136、energy consumption and associated carbon emissions.We constantly review our energy performance in terms of the 2021 baseline(as set out in our decarbonisation strategy)to ensure that we are progressing our targets.Since 2021,we have:reduced our total Scope 1 and 2 energy consumption by 41%;reduced o
137、ur Scope 1 energy consumption by 50%;and reduced our grid-based energy consumption by 11%.Refer to our Annual Report and Accounts 2024 for more on our energy footprint performance metrics.Planning for mine closure,protecting biodiversity and enhancing conservationOur contextGem Diamonds has develope
138、d and implemented an innovative biodiversity strategy to protect and sustain ecosystem services within our mine lease areas.Our approach prioritises the preservation of natural habitats while ensuring responsible environmental stewardship.Situated on the edge of the Maloti-Drakensberg Transfrontier
139、Project and the Ukhahlamba-Drakensberg World Heritage Site,Leteng operates in a region of high ecological significance.Mining has a finite lifespan,and we are committed to safeguarding indigenous flora and fauna during operations and post-closure.Biodiversity considerations are integrated into our f
140、inancial planning,mine closure strategy and long-term sustainability objectives.We ensure that adequate financial provisions are allocated for rehabilitation,while also addressing the environmental and socio-economic needs of our PACs in the post-mining landscape.Our approachWe are dedicated to pres
141、erving natural habitats and ensuring no net loss of biodiversity within our mine lease areas.Our approach integrates environmental stewardship with socio-economic sustainability,benefiting our host countries,PACs and business operations.At Leteng,we actively mitigate environmental impacts through co
142、nservation initiatives and concurrent rehabilitation,enhancing biodiversity throughout the mines lifecycle.Strategic partnerships play a crucial role in these efforts,as we work closely with governments,regulators,scientists,industry stakeholders and local communities to implement effective environm
143、ental protection measures.Our sustainable land management initiatives focus on working with local subsistence farmers to implement rotational grazing and veld management programmes,and preventing overgrazing beyond the mine lease area while managing overgrowth within it.Bioremediation remains a corn
144、erstone of our water stewardship strategy,ensuring sustainable water quality for local ecosystems and surrounding communities.To safeguard native flora,we implemented the Priority Plant Relocation Procedure,which includes a high-altitude rescue garden and seed storage facility now home to Lesothos m
145、ost comprehensive native seed collection.Biodiversity and veld quality assessments are conducted every two years,with the most recent cycle completed in 2023.These assessments indicate minimal operational impact on biodiversity and an encouraging upward trend in total species diversity,including Red
146、 Data and restricted species.Our biodiversity risk assessments consider all threatened,migratory and endemic species,as well as regionally relevant ecosystem services.To mitigate mining-related biodiversity impacts,Leteng has implemented a biodiversity offset strategy,supported by a comprehensive mo
147、nitoring programme that tracks species diversity within and beyond the lease area.Operational biodiversity management plans,developed by external specialists,are reviewed annually to ensure alignment with global best practices.Through these initiatives,we continue to integrate long-term biodiversity
148、 conservation into our operations,reinforcing our commitment to sustainable mining and environmental responsibility.Our approach to sustainabilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethic
149、sGem Diamonds Limited Sustainability Report 202417Our performanceLeteng has successfully trialled and implemented various rehabilitation activities,including eradicating invasive plant species,remediating soil erosion and reseeding with native vegetation to facilitate natural regeneration.Rehabilita
150、tion trials on Letengs waste rock area identified Tenaxia disticha,a small evergreen shrub native to South Africa,as a model species for stabilising waste rock facilities.This finding will be instrumental in refining our rehabilitation approach,thereby contributing to long-term environmental sustain
151、ability.As part of our Concurrent Rehabilitation Plan,Leteng Diamonds remains committed to progressively restoring disturbed areas wherever feasible.This approach balances immediate rehabilitation efforts with the flexibility to adapt to evolving mining technologies and methodologies.Recent initiati
152、ves include topsoiling,installing anti-erosion netting and revegetating across approximately nine hectares of the old RSF beach.In addition,we are exploring the feasibility of rehabilitating steeper slopes beyond the industry standard 15-degree benchmark,with early trials yielding promising results.
153、Livestock overgrazing and trampling pose significant threats to wetland ecosystems,causing soil compaction,vegetation loss and stream bank destabilisation.Recognising wetlands crucial role in water retention and biodiversity,Leteng established designated no-go areas to mitigate these impacts,leading
154、 to the return of several plant and animal species previously displaced from the region.Letengs wetland rehabilitation programme continues to restore critical ecosystems,with notable successes such as the Qaqa wetland,which has been naturally regenerating since 2013.With significantly improved water
155、 quality,this wetland is fostering the growth of indigenous vegetation.A planned wetland rehabilitation project in the RTZ valley is expected to further enhance regional biodiversity and ecosystem health.At Ghaghoo,environmental rehabilitation and closure efforts gained momentum in 2024 with a signi
156、ficant site clean-up and restoration initiative.As part of our concurrent rehabilitation activities,the processing plant and associated infrastructure were decommissioned and removed,marking a critical step in the sites environmental recovery.Through these efforts,we remain committed to responsible
157、land restoration,ensuring that mining activities leave a lasting positive impact on the environment.Bearded vulture conservation support The bearded vulture(Gypaetus barbatus),a critically endangered species,inhabits the Maluti-Drakensberg Mountains of Lesotho and South Africa.With only around 350 i
158、ndividuals remaining,this genetically distinct population faces ongoing threats.Bearded vultures play a vital ecological role in keeping the environment free of carcass waste,helping prevent disease spread.The Bearded Vulture Recovery Programme works to halt population decline and stabilise numbers
159、over the next decade.The initiative,guided by the Bilateral Bearded Vulture Recovery Strategy and Action Plan,involves government agencies,NGOs,businesses and communities.However,it lacks sustainable funding and relies on donations,including those from the Rhino Peak Challenge and volunteer organisa
160、tions.Letengs contributionIn December 2024,Leteng made a donation through its CSRI programme to support vulture conservation in the Mokhotlong district.These funds were allocated for:completing a supplementary feeding site and hide at Molumong,including educational displays;andeducation and awarenes
161、s initiatives to prevent harmful practices,such as stoning vulture chicks and nest destruction by herders.Leteng is exploring further opportunities to support the programme.EnvironmentalGem Diamonds Limited Sustainability Report 202418AN OVERVIEW FROM OUR CEOOVERVIEWThe pressure on the diamond marke
162、t persisted in 2024,negatively impacting prices and challenging the sustainability of junior diamond producers.Our continued focus on efficiencies,optimisation and cost containment strengthened our ability to withstand external challenges.At the same time,we ensured that our cost containment measure
163、s did not compromise our commitment to health,safety,environmental stewardship and social responsibility.We successfully insourced several long-term contracts at Leteng,including mining,treatment,and housekeeping and laundry,which will improve efficiencies and reduce costs.We also finalised our upda
164、ted mine plan at Leteng,which is set to substantially reduce mineral waste mining in the Satellite pit.We continued to improve site standards at Leteng,with key advancements in technical projects,such as residue storage and decarbonisation.Climate initiatives support cost reductions,and we expect fu
165、rther improvements in energy efficiency and carbon footprint reduction due to the decreased requirement for waste mining in our updated mine plan.While the transition to renewable energy takes time and investment,we are committed to balancing these efforts with operational priorities and maximising
166、value through resource consumption reductions.Refer to our Annual Report and Accounts 2024 for details on our financial and operational performance.Our CSI initiatives continue to progress well,benefiting our communities and strengthening relationships with stakeholders.We maintain open,collaborativ
167、e dialogue with governments,neighbouring communities and other key stakeholders,enabling us to address emerging issues effectively and to deepen our partnerships.LOOKING AHEADWhile we hope to see a diamond price recovery in 2025,we are prepared for another challenging year.Our strong sustainability
168、performance is a key asset as we navigate these challenging times in the diamond mining industry.We will maintain our focus on enhancing energy efficiency and reducing fuel consumption,driving both cost savings and lower carbon emissions.Our high governance standards,operational integrity and strong
169、 relationships with communities and governments contribute to the resilience of our business in an increasingly complex landscape.We will maintain our disciplined approach to cost management and efficiency improvements while staying aligned with our operational and sustainability goals.Our approach
170、to sustainabilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 202419We have long believed that integrating sustainability considerations into our o
171、perations is essential,and that our financial goals must align with sustainability objectives.Our ability to implement cost-saving measures while improving energy use efficiency reinforces this commitment.Clifford Elphick SOCIALMaintaining our social licence to operate is central to the Groups purpo
172、se:Produce the best diamonds,in the best way,leaving a lasting legacy.As responsible operators and partners in our host countries,we strive to foster positive and constructive relationships with governments,employees and local communities.Our social licence is reinforced through ongoing dialogue wit
173、h key stakeholders,including governments,communities,employees and other interested parties,ensuring that we address challenges with mutually beneficial and sustainable solutions.RELATED SUSTAINABILITY PRINCIPLESPrioritising environmental protectionOptimising socio-economic benefitPrioritising the d
174、evelopment and well-being ofour employeesRELATED UN SDGsGem Diamonds corporate social responsibility investment(CSRI)strategy is informed by a needs analysis to identify socio-economic challenges.This is a collaborative process with PACs at our Lesotho operating mine,guided by the eight UN SDGs we h
175、ave adopted.The following SDGs relate to our social pillar:SNAPSHOT OF OUR PERFORMANCE US$0.3million invested in social projects(2023:US$0.4 million)US$38.8millionspent on local procurement(2023:US$65.7 million)Zero major or significant community incidents(2023:zero)Leteng has awarded 55 scholarship
176、s to young Basotho citizens to dateZero incidents of compromised dam integrity(2023:zero)Zero violations of indigenous communities rights(2023:zero)MATERIAL MATTERSSafeguarding our communitiesOur contextOur primary objective is to operate safely and responsibly,prioritising the health,safety and wel
177、l-being of our workforce,their families and the communities in which we operate.As a responsible corporate citizen,our commitment goes beyond mitigating mining risks;we are dedicated to creating sustainable,shared value that will benefit our host communities for generations to come.Our approachWe ad
178、opt a zero-tolerance approach to human fatality or injury and are committed to the International Council on Mining and Metals Global Industry Standard on Tailings Management(GISTM)to help us achieve zero harm to people and the environment.The GISTM mandates that responsible operators prioritise the
179、safety of RSFs and disclose relevant information to support public accountability.The integrity of our RSFs(coarse and fine)and freshwater storage facilities is non-negotiable and fundamental to our commitment to operating responsibly and safeguarding our communities.SocialGem Diamonds Limited Susta
180、inability Report 202420RSF management is a key area of focus and is addressed in our Group RSF management policy.Effective RSF management is critical at all stages of a facilitys lifecycle,including closure and post-closure,helping to mitigate the risk of tailings dam failures and their potentially
181、significant consequences.Throughout the year,we conduct rigorous safety inspections and audits of dam walls,internally and with independent experts.The Patiseng,Old RSF and Mothusi Dam(our freshwater supply dam)at Leteng undergo daily,weekly and monthly inspections,assessing water levels,beach lengt
182、h,freeboard and overall structural stability.An early warning system,alongside training and awareness programmes,ensures that communities are prepared for an unlikely dam failure event.As a result,there have been zero tailings overflows or containment breaches reported in 2024 or Letengs history.Ref
183、er to the Operations review in our Annual Report and Accounts 2022,available on our website at ,for full details on our RSF governance framework and assurance strategy.Operating in the remote Maluti Mountains of Lesotho,we face challenges due to limited public infrastructure,poor access to essential
184、 services and difficult transport routes.Our PACs primarily rely on surface water sources(streams and springs)for their water supply.Historical subsistence farming contributed to coliform contamination,resulting in gastrointestinal diseases.In 2024,Leteng provided additional water infrastructure to
185、five local villages:Maloraneng,Lithakong,Patiseng,Ha Ramosoeu and Maropong.To date,we have equipped 13 schools and 12 villages with safe potable water and dignified sanitation facilities.Refer to the water quality case study in our Sustainability Report 2022 for more information.At Leteng,our on-sit
186、e clinic offers emergency medical services to PACs in the Mokhotlong district.In 2024,we responded to nine accidents on public roads and treated 21 people for injuries sustained in local villages.We also utilise Letengs resources to address community needs,such as road repair and maintenance on beha
187、lf of the Roads Directorate.In 2024,Leteng completed repairs on the main access roads connecting five PACs with the national road.Our performanceWe recorded zero incidents of compromised dam integrity in 2024(2023:zero).In 2024,the Leteng emergency team responded to 21 emergency calls(2023:23)from P
188、ACs,of which nine were motor vehicle-related(2023:16).Ensuring positive engagement with our stakeholdersOur contextOur culture of care compels us to engage,listen and respond to the needs of our stakeholders.Interacting regularly and fulfilling our commitments fosters trust,enhances the Groups reput
189、ation and helps maintain our social licence to operate sustainably.Our strong relationships with employees,regulators,PACs and host governments are built on fair labour practices,environmental and social responsibility,effective risk management,ongoing engagement and robust ethical standards.Refer t
190、o our Annual Report and Accounts 2024 for details on stakeholder engagement.Our approachWe are committed to engaging transparently and respectfully through qualified and trained personnel.Our stakeholder consultation framework ensures meaningful engagement that informs our decision-making processes.
191、Our community engagement strategy is guided by operation-specific social and environmental impact assessments(SEIAs)and regularly updated,community-led needs assessments.Leteng employs a multi-level approach to stakeholder engagement that aligns with host country legislation and international best p
192、ractices,including the Equator Principles and the IFC Performance Standards on Environmental and Social Sustainability.Our community engagement programme includes monthly forums with local leaders,quarterly meetings with village residents and regular consultations with district-level stakeholders an
193、d leadership.In addition,our stakeholder engagement specialist has established WhatsApp groups for direct,rapid communication with villagers,enhancing the quality of our interactions and relationships and our ability to proactively address concerns.The Leteng CSRI Committee,with two community-electe
194、d representatives from Mokhotlong,oversees and governs our CSRI strategy.Our performanceNo major or significant stakeholder incidents occurred at any of our operations during 2024(2023:none).No violations of the rights of indigenous people,on whose land the Group operates,occurred at our operations
195、in 2024(2023:none).Our approach to sustainabilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 202421Working with communities to understand their ne
196、edsOur contextLesotho is a developing country with high unemployment,inequality and poverty.Food security is declining,and malnutrition is rising across all age groups.The diamond,water and textile industries are key contributors to the countrys export economy.Through engagements to understand commu
197、nity needs,we strive to create meaningful change by providing decent employment opportunities and improving access to basic services and food security.The three districts surrounding our Leteng mine are home to some of the most disadvantaged communities in the country.We support these PACs through a
198、 comprehensive CSRI strategy that focuses on creating sustainable shared value.In addition,we contribute to socio-economic development through tax and royalty payments,investments in sustainable development and local employment and procurement practices.Our approachWe value our mutually beneficial r
199、elationship with our PACs,which is essential for ensuring our long-term sustainability and social licence to operate.Beyond simply complying with regulations and legal requirements,we are committed to creating a meaningful impact through our five-year CSRI strategies and policies.These strategies al
200、ign with our adopted UN SDGs and are independently assessed to effectively address community needs.Our CSRI governance framework guides us in responding to important causes,including emergency initiatives during extreme weather events or road accidents.In line with our mining lease agreement with th
201、e Government of the Kingdom of Lesotho,Leteng is committed to allocating LSL5.0 million,or 1%of total dividends declared and paid in the relevant financial year,to CSRI projects.Additionally,we contribute 1%of the market value of any special diamond or LSL0.5 million(whichever is greater)towards the
202、se initiatives.We focus on areas with the greatest potential for positive change,including infrastructure and SME development,education,healthcare and,where appropriate,regional environmental projects.Our performanceOur total CSRI investment in 2024 was US$0.3million(2023:US$0.4million).Leteng has t
203、o date awarded 55 scholarships to young Basotho citizens studying towards careers as artisans,occupational hygienists,geologists and mining engineers(53 of our recipients have graduated successfully and 18 are employed full-time at the mine).We continue to support the egg farmers and production expa
204、nsion activities at our Mokhotlong and Mapholaneng egg circle projects.We assisted with a business model review,infrastructure procurement and incubation programme at our dairy project to support its growth and expansion in 2024.SocialGem Diamonds Limited Sustainability Report 202422Creating shared
205、value through localisationOur contextWe are committed to leaving a positive,lasting legacy in the countries where we operate,creating sustainable value for stakeholders even after mine closure.Our approach focuses on contributing to local economies,maximising local employment and procurement opportu
206、nities and developing long-term CSRI projects.We recognise the interconnectedness of sustainability,society and the environment,and take an integrated approach to achieving these goals.According to the World Bank and World Food Programme,an estimated 32.4%of Lesothos population lives on less than US
207、$2.15 a day;therefore,localisation is vital for driving economic and social progress.By prioritising local employment and maintaining local supply chains,we support the socio-economic development and well-being of our host communities while meeting our business needs.Our approachLeteng makes a signi
208、ficant annual contribution to Lesothos economy through royalties,taxes and dividends.The mine also plays a vital role in socio-economic development by employing over 1 100 local individuals and supporting compliant local suppliers of goods and services and emerging entrepreneurs.Our performance99%of
209、 Letengs workforce comprises Lesotho nationals(2023:99%).Group in-country procurement amounted to US$38.8million in 2024(2023:US$65.7million),of which US$2.0million(2023:US$1.5million)was procured directly from PACs and US$27.7million(2023:US$30.4million)from communities around Leteng.Honouring our
210、social compactOur contextWe aim to support our rural host communities by enhancing their economic,environmental and social sustainability while promoting practices that uphold and protect human rights.Our approachOur community needs analyses and SEIAs are conducted in accordance with the Free,Prior
211、and Informed Consent(FPIC)standard,as well as the rights of indigenous peoples to lands,territories and natural resources embedded in the universal right to self-determination.We support this fundamental principle of international law,as outlined in the Charter of the United Nations,the Internationa
212、l Covenant on Civil and Political Rights and the International Covenant on Economic,Social and Cultural Rights.Our performanceWe recorded zero violations of indigenous communities rights in 2024(2023:zero).Zero major or significant community grievances were recorded in 2024(2023:zero).We engaged saf
213、ely and responsibly with PACs through established forums.Our approach to sustainabilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 202423OUR CSI I
214、NLESOTHO2009:Donated medical equipment to SebocheHospital2013 2015:Basic healthcare facilities constructed and equipped in Mokhotlong2015:Trained 260 healthcare workers to provide basic health services in MokhotlongDonated 350 medical care kits to eight healthcare centres in Mokhotlong2016:Donated m
215、aternity ward equipment to SebocheHospitalDonated medical equipment to Mokhotlong Hospital2020 2021:Donated mobile COVID-19 testing infrastructure and vaccines to the Lesotho Department of Health and provided personal protective equipment,healthcare worker training and food parcels to at-risk commun
216、ities2021:Donated 17 oxygen concentrators and a fully equipped ambulance to the Lesotho Department ofHealth2007:Constructed Maloraneng Lodge and Mapoka campsite2008:Constructed Mapholaneng community hall2009:Constructed Mapoka footbridge2010:Provided water and sanitation for Phuthalichaba village201
217、4:Provided water and sanitation for Maloraneng and Ha Seema villages2018:Constructed Pae la itlhatsoa footbridge and Phuthalichaba police station2019:Constructed regional administrative offices in Pae la itlhatsoa2021:Solar lighting provided for Phuthalichaba village2022:Provided water and sanitatio
218、n for Ha Moroke village2023:Constructed additional mini-production facilities at existing egg circles2024:Completed maintenance on Pae la itlhatsoa and Lichecheng gravel roads and installed water supply infrastructure for five villagesHealthcareEducationInfrastructure2007 2024:Granted 55 tertiary ed
219、ucation scholarships2010 2011:Donated school uniforms and stationery to orphanages in Mapholaneng 2012:Constructed and equipped four classrooms,administration offices and a kitchen at Pae la itlhatsoa Primary School 2016:Provided sanitation and undertook renovations at St Peters,St Michaels,Molumong
220、 and Mokhotlong primary schools2016 2018:Provided training in mountain search and rescue for herd boys in MokhotlongProvided Kick4Life sport and education sponsorship for primary school learners in MokhotlongProvided life skills training and development for herd boys and primary school learners in M
221、okhotlong2018:Provided water and sanitation infrastructure for Mojakisane Primary School2019:Constructed and equipped four classrooms and administration offices for Tsepong Primary School2021:Developed water and sanitation infrastructure at primary schools within Mokhotlong2022:Provided water,sanita
222、tion and fencing for Mapholaneng High School2023:Constructed classrooms at the Tsepong and Ntlholohetsane primary schoolsSocialGem Diamonds Limited Sustainability Report 2024242011 2014:Four woolsheds constructed and equipped in Thabang,Mapholaneng,Libibing and MalefiloaneRam breeding project establ
223、ished and farmer training and skills development programmedeveloped 2014 2016:Six greenhouses constructed and equipped in Botha-BotheCommercial vegetable farming programme established in collaboration with Malere and Nkhaketse agricultural projects(including farmer training,skills development and pr
224、ovision of seedlings and equipment)2016 2018:Liphamola dairy project commissioned(including construction and equipping of milking parlour,purchase of dairy cows,and training and skills development for dairy farmers)2021:Tlokoeng and Mokhotlong egg circles constructed and equipped and skills developm
225、ent programme established2022:Lesotho Legend egg project commissioned when Tlokoeng and Mokhotlong egg circles began operatingNGO partnership strategy established for Mokhotlong dairy project and Butha-Buthe vegetable project2023 2024:Production capacity increased at both the egg and dairy projects.
226、Feed provision and business incubation programme implemented to ensure sustainability of production Regional supportEnterprisedevelopment2006 2022:Regional road accident response,medical treatment and emergency evacuation through Leteng clinic 2011:Food security and livelihood programme in Khubelu20
227、16:Housing vulnerable community members during extreme weather events 2016 2021:Community health intervention and awareness programmes2021:Basic infrastructure rebuild after localised flooding(including water provision,access roads and footbridges)2022 2023:Provided financial donations to child-head
228、ed householdsOur approach to sustainabilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 202425Q AND A WITH OUR COOWHAT WERE THE SUSTAINABILITY HIGH
229、LIGHTS IN 2024?Amid a challenging diamond market,our integrated focus on operational efficiency and sustainability drove strong operational performance while maintaining cost discipline and advancing sustainability.We do not consider sustainability a separate initiative it is embedded in every aspec
230、t of our operations.From frontline decision-making to executive planning,we assess operational viability,financial considerations and sustainability impact in an integrated and mutually supportive manner.This approach ensures that sustainability remains a core driver of efficiency and long-term resi
231、lience.Our cost-saving initiatives align with our decarbonisation efforts,reinforcing a culture of continuous improvement.Insourcing mining and processing has given our management team direct control over fleet operations,mine plan execution and ore treatment enhancing flexibility,reducing costs and
232、 optimising daily operations,including concurrent rehabilitation.A shared commitment to excellence,strong leadership,and team cohesion continue to drive progress while strengthening communication and safety.A key factor in our progress is embedding a culture of discipline and accountability within t
233、he Company.This past year,we saw marked improvements in operational execution,environmental stewardship and workplace safety.Enhanced housekeeping and meticulous attention to detail contributed to better control over plant operations,reduced environmental impact and more effective cost management.Th
234、ese operational refinements are integral to our broader sustainability objectives.A significant strategic initiative in 2024 was the comprehensive review of our life of mine plan.The revised approach substantially reduces waste stripping,delivering meaningful benefits across several sustainability m
235、etrics including lower waste generation,reduced carbon emissions and improved fuel efficiency.This is a critical step forward in aligning our operational strategy with our ambitions for decarbonisation.Our strategic focus on cost efficiency and capital discipline has not come at the expense of our s
236、ustainability ambitions;rather,it has reinforced them.We recognise that safety,operational excellence and sustainability are not competing priorities but complementary drivers of long-term value.By embedding this mindset across the organisation,we have strengthened our resilience and sharpened our c
237、ompetitive edge.COOGem Diamonds Limited Sustainability Report 202426The insourcing of Letengs mining and processing activities was completed without production delays and with positive employee feedback.Uniting employees under a single banner has improved organisational culture,creating a noticeable
238、 sense of pride and discipline throughout the mine.Brandon de BruinPLEASE DISCUSS GEM DIAMONDS SAFETY PERFORMANCESafety is not just a priority it is a fundamental value embedded in every aspect of our operations.We are unwavering in our commitment to working safely and responsibly,ensuring a culture
239、 of safety that extends from the boardroom to the mine site.In a year marked by significant operational changes,most notably the insourcing of mining and processing activities at Leteng and the decommissioning and removal of the processing plant at Ghaghoo,our ability to maintain a strong safety per
240、formance was a testament to the maturity and resilience of our systems and processes.True organisational culture is revealed in times of transition,and our teams supported by robust leadership and change management protocols effectively mitigated risks throughout the year.The Group achieved an AIFR
241、of 0.61 in 2024,the lowest on record for the second consecutive year.Leteng also retained its ISO 45001 certification for health and safety.Our operational teams at Leteng and Ghaghoo executed extensive site housekeeping,remediation and scrap removal programmes while upholding the highest health and
242、 safety standards and maintaining our excellent safety record.These accomplishments highlight our ongoing commitment to protecting our people,sustaining operational excellence and continuously improving safety performance.PLEASE COMMENT ON THE GROUPS SUSTAINABILITY ACTIVITIES IN 2024Advancing energy
243、 efficiency and decarbonisationOur energy consumption profile has evolved across the Group,driven by our updated mine plan,reduced load shedding and the successful installation of a solar power solution to replace diesel-generated power at Ghaghoo.Energy efficiency initiatives contribute to our deca
244、rbonisation goals and enhance the long-term resilience and cost efficiency of our operations.Since 2021,the Group has achieved a 32%reduction in total carbon emissions(Scope 1,2 and 3)and a 27%reduction in Scope 1 and 2 carbon emissions in line with our decarbonisation target of a 30%reduction in Sc
245、ope 1 and 2 carbon emissions by 2030.At Leteng,the integration of renewable energy remains complex due to the mines remote location and unique operational and environmental conditions.However,we remain committed to exploring viable renewable energy opportunities while embedding energy-saving initiat
246、ives into daily operations.These initiatives include reducing material movement and optimising operational efficiencies a strategic approach that has been in place for more than six years and continues to deliver measurable benefits.Eskoms decreased load shedding in 2024 resulted in improved grid st
247、ability and reduced operational reliance on our diesel-generated power.As grid stability improves,wheeling renewable energy into our operations is becoming increasingly viable.A wheeling mechanism would enable us to source electricity from renewable energy producers,offering a low-capital,scalable s
248、olution that can further reduce our carbon footprint.Advancing nitrate management and water qualityWe have made significant progress in reducing nitrate levels in water run-off through targeted remediation efforts.Key initiatives include stormwater management,catchment dams,bioremediation and constr
249、ucted wetlands,with a finalised wetland design for the RTZ catchment.In February 2024,our bioremediation plant became fully operational with the commissioning of all six 20 000 litre tanks.The biological reduction process has proven effective,achieving an average 60%to 80%nitrate reduction.Nitrate l
250、evels are closely monitored daily at the plant,weekly in our on-site laboratory,and monthly through external verification.As efficiency tends to decline in colder months,we are exploring solutions to enhance system performance for the upcoming winter.Ensuring responsible RSF managementThe stability
251、and integrity of our RSFs remains a key priority,supported by continuous monitoring,risk mitigation and proactive management measures.Structural integrity has been reinforced through slope regrading,enhanced drainage systems and piezometer installations,alongside a structured monitoring framework wi
252、th daily,weekly and monthly reporting.Our RSF management system is fully integrated with site-wide risk controls,ensuring alignment with operational protocols and robust emergency preparedness.Regular inspections by the Engineer of Record confirm compliance and stability,while an Independent Tailing
253、s Review Board,following an October 2024 site visit,commended the exemplary condition of our RSFs and the strength of our management framework.Sustaining environmental stewardship at GhaghooGhaghoo maintains a strong sustainability record,with no reported environmental or community incidents or grie
254、vances during its care and maintenance phase.Situated within the Central Kalahari Game Reserve,Ghaghoo continues to prioritise responsible environmental management,particularly regarding wildlife interactions and environmental remediation.As part of our community support initiatives,potable water is
255、 supplied to the Gope community via a dedicated storage facility linked to the mines reverse osmosis system,which also serves the local police camp.Remediation and extensive site clean-up activities agreed with the Department of Mines,which began in 2023,have been completed safely,cost-effectively a
256、nd in alignment with our environmental and regulatory commitments.As part of the remediation process,the decommissioning and removal of the processing plant and associated infrastructure were successfully completed by year end.Our approach to sustainabilityOur business modelChairperson of the BoardW
257、orking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 202427WHAT ARE YOUR PRIORITIES IN 2025?Safety and zero harm remain our top priority.Embedding sustainability across our operations,alongside the
258、continued success of our insourcing strategy,will further enhance efficiency and long-term resilience.We are dedicated to driving decarbonisation and environmental stewardship while prioritising cost efficiency and operational excellence.Our initiatives include advancing renewable energy solutions s
259、uch as electricity wheeling,improving energy efficiency,and optimising bioremediation efforts.As market pressures persist,we remain committed to managing controllable factors,maintaining agility,and ensuring operational readiness to capitalise on emerging opportunities.WOULD YOU LIKE TO EXTEND ANY T
260、HANKS OR APPRECIATION?I extend my gratitude to the Board;their commitment to our strategic objectives continues to strengthen our ability to operate responsibly and sustainably.I would also like to thank Mike Brown,the Chairman of the Sustainability Committee,for his ongoing guidance and invaluable
261、support.Following the insourcing of mining,processing and housekeeping,I welcome our new employees at Leteng building a unified,focused and disciplined team is essential to our success,and their contributions are integral to driving operational excellence.A special acknowledgement goes to our on-sit
262、e management teams at Leteng and Ghaghoo for their unwavering dedication and hard work.Their leadership and unwavering commitment are instrumental in maintaining high standards of safety,operational efficiency and sustainability under challenging conditions in demanding environments.COOGem Diamonds
263、Limited Sustainability Report 202428EMPLOYEESIn our pursuit of zero harm,we prioritise a mature safety culture,support the physical and psychological well-being of our employees,and promote equality,diversity and professional development at every level.We are committed to fostering a workplace where
264、 employees feel supported,empowered and able to thrive.RELATED SUSTAINABILITY PRINCIPLESCreating a safe and healthy working environmentPrioritising the development and well-being of our employeesOptimising socio-economic benefitRELATED UN SDGsThe following UN SDGs relate to our employees pillar:Refe
265、r to our Annual Report and Accounts 2024 for further details on employee engagement,remuneration matters and integration of UN SDGs into business operations.SNAPSHOT OF OUR PERFORMANCEZero fatalities(2023:zero)Leteng retained ISO 45001 certification(Occupational Health and Safety Management)Lost tim
266、e injury frequency rate(LTIFR):0.18(2023:0.10)55128 proactive safety management actions(2023:61324)Lowest recorded AIFR:0.61(2023:0.67)US$32.9million spent on employee remuneration and benefits(2023:US$33.6million)Our approach to sustainabilityOur business modelChairperson of the BoardWorking toward
267、s global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 202429MATERIAL MATTERSProviding a safe working environment Our contextOperating in remote locations presents unique challenges for our occupational health and
268、 safety efforts.To cultivate a zero-harm culture,we embed specialist expertise,strategic planning and strong leadership into our health and safety risk management system.Our approach Our life-saving rules form the foundation of our safety and risk management framework,with strict non-compliance meas
269、ures to uphold critical safety standards.We are committed to a zero-harm culture,believing every injury is preventable.Safety is championed by every employee and reinforced by leadership.All incidents,including near misses,must be reported and are classified based on their potential impact.Each inci
270、dent undergoes a thorough investigation to implement effective corrective actions and prevent recurrence.Our management-specific leading indicator programme enhances risk identification,team engagement and vigilance against industrial blindness.By embedding strong safety leadership behaviours,we hav
271、e strengthened leadership visibility and raised safety standards across operations.Our performanceWe recorded zero fatalities(2023:zero).Our RSF and conveyor belt management contractor was recognised for achieving 13 lost time injury(LTI)-free years.Our Group AIFR was 0.61(2023:0.67),the lowest reco
272、rded to date.We recorded three LTIs across the Group during 2024(2023:two),resulting in a Group-wide LTIFR of 0.18(2023:0.10).We recorded one restricted work injury across the Group during 2024(2023:one).Leteng retained its ISO 45001 certification.Attracting and retaining qualified peopleOur context
273、 Gem Diamonds invests significantly in attracting and retaining skilled,experienced talent.The mining skills shortage,intensified by Letengs remote location,strengthens our commitment to being an employer of choice.Our approachOur people are our greatest strength.To attract and retain skilled and ex
274、perienced talent,we actively address employee needs,offer competitive remuneration,foster a supportive work environment and provide meaningful career development opportunities.Employee value propositionBy considering employee needs beyond fair and equitable remuneration,Gem Diamonds remains an emplo
275、yer of choice with a consistently low staff turnover rate.The Groups measures to enhance diversity,equity and inclusion include targeted communication and awareness campaigns,female-focused recruitment,and assessments to eliminate any barriers to promoting,retaining and advancing women in the workpl
276、ace.Representation of women in senior management roles remained at 43%in 2024(43%in 2023).RemunerationCompetitive remuneration is key to attracting and retaining skilled talent.In the absence of a prescribed minimum wage for the mining sector in Lesotho and Botswana,we adhere to construction industr
277、y wage guidelines as a benchmark.Our labour contracts clearly define minimum remuneration requirements,ensuring fairness and transparency.None(2023:none)of the Leteng workforce received minimum wage remuneration in 2024.The lowest-graded permanent employees at Leteng received 34%(2023:60%)above the
278、construction sectors minimum wage.Other Group employees were also remunerated above the minimum wage and in line with market-related rates.We provide benefits and incentives over and above basic remuneration to attract and retain top talent.Incentives include performance-based bonuses and long-term
279、share awards.The Board and subsidiary Committees review remuneration policies,skills and succession planning.We also include non-financial metrics in employee and leadership scorecards in line with our sustainability goals.Refer to the Remuneration Report in our Annual Report and Accounts 2024 for m
280、ore information.In 2024,100%(2023:100%)of Letengs permanent employees subscribed to the mandatory company retirement provision scheme.Leteng contributes 7.5%(2023:7.5%)of employees annual salaries to this scheme,and employees contribute an equivalent amount.Fixed-term contract employees,not eligible
281、 for this benefit,receive a fixed-term contract allowance of 20%(2023:20%)of their basic salaries.Ghaghoo employees receive a statutory gratuity payment upon contract completion equal to 15%(2023:15%)of the basic monthly salary for each month of employment.South Africa and London-based employees are
282、 remunerated on a cost-to-company basis,and choose their own retirement schemes and contributions.At our Belgian operations,employees contribute 13%(2023:13%)of their salaries as a social contribution which includes a portion that is allocated to a mandatory government retirement scheme.EmployeesGem
283、 Diamonds Limited Sustainability Report 202430Our performanceFollowing our insourcing of mining,processing and housekeeping at Leteng,our workforce comprised 928(2023:298)permanent employees and 266(2023:999)contractors at year end.The average number of permanent employees was 716(2023:313).The aver
284、age number of contractors was 541(2023:1088).We spent US$32.9million(2023:US$33.6million)on employee wages,benefits and incentives.The Group-wide absenteeism rate was 0.7 days(2023:1.1 days)per person per annum.Our Group-wide voluntary staff turnover was 2%(2023:8%).We recorded zero(2023:zero)discri
285、mination cases.Employee demographics(%)1GenderLocalisationAge2024Male%Female%Local employees%250%Board371294300100Senior management57437102971Middle management77239007030Total792199674202023Male%Female%Local employees%50%Board71294300100Senior management57438605743Middle management78229858213Total77
286、2399578171 The employee demographics include own and contractor employees below senior management.2 The proportion of employees hired from the local region within which the relevant subsidiary operates.3 Board representation refers to the Gem Diamonds Limited Board in the UK.All other demographics r
287、efer to Group-wide operations.Providing learning and development opportunities for employeesOur contextWe empower our employees to advance their careers through continuous learning and development opportunities.Our approachTraining and developmentOur succession planning and training investments addr
288、ess mining industry skills shortages.Internal and external programmes,alongside a strong mentorship culture,provide clear development pathways monitored through annual performance reviews.Succession planning remains a priority for aligning skills and resource allocation with the mine plan and is sub
289、ject to Board oversight.Established in 2009,our internship programme at Leteng offers practical field experience for graduates.To date,we have provided internships for 48 beneficiaries of our scholarship programme and offered permanent employment to 41%of these interns.Our performanceSenior manageme
290、nt training:1601 hours(2023:3 hours).Middle management training:968 hours(2023:1336 hours).Non-management training:10618 hours(2023:13457 hours).Employee career reviews:overall,11%(2023:10.63%)of employees 48%female(2023:16%)and 8%male(2023:9%).Our approach to sustainabilityOur business modelChairpe
291、rson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 202431Caring for our employees health and well-beingOur contextPromoting employee health and well-being enhances morale,reduces
292、 absenteeism and improves productivity.Our on-site clinics offer emergency,occupational and primary healthcare,while tailored counselling and engagement programmes support employees in prioritising their well-being.Our approachWe are committed to fostering a work environment that actively promotes e
293、mployee well-being and healthy lifestyles.Our comprehensive safety policies and procedures not only minimise risks but also strengthen stakeholder relationships and uphold our social licence to operate.Guided by our holistic Group health and safety policy,we take a stakeholder-inclusive approach,rei
294、nforced by robust internal risk and hazard mitigation measures.To ensure effective risk management and compliance,all employees undergo thorough medical examinations at induction and exit.In addition,our extended health and wellness programme including physical,mental and financial well-being servic
295、es provides employees with access to trained counsellors,helping them navigate challenges within and beyond the workplace.Our performanceLeteng was recertified as compliant with the ISO 45001 occupational health and safety management standard.We recorded zero(2023:zero)occupational radiation over-ex
296、posure cases in 2024.Occupational health cases decreased to 361(2023:460).We conducted 4944 serious disease prevention and management interventions(2023:6391).Engaging with employees and elected representativesOur contextWe enhance employee relations by fostering open communication channels and stru
297、ctured engagement to effectively address employees needs and challenges.Our approachFrequent engagement is key to fostering a collaborative work environment that supports employee development and retention.Our approach evolves to align with best practices while addressing the unique dynamics of our
298、operations.We prioritise proactive engagement to promptly address employee concerns,collaborating closely with employees and their representatives.Our management team ensures open communication through various platforms,including daily toolbox talks,weekly leadership visits,town hall meetings,and ne
299、wsletters.We fully support freedom of association and recognise our employees right to join unions and engage in collective bargaining.Our policies,grounded in our change management system and host country legislation,ensure employees are kept informed of any significant operational or workplace cha
300、nges.Employee Engagement CommitteeEmployee representatives bring workplace matters to the Employee Engagement Committee,which meets regularly throughout the year under the leadership of Non-Executive Director Mazvi Maharasoa.Representatives submit mine-wide issues in advance,ensuring meaningful disc
301、ussions,with key insights and outcomes reported to the Board.The Board monitors the implementation of actions to address identified concerns.Our performanceWe recorded zero(2023:zero)strikes or lockouts during the year.EmployeesGem Diamonds Limited Sustainability Report 202432GOVERNANCE AND ETHICSTh
302、e value of our exceptional diamonds is influenced by how we operate.Our commitment to human rights,ethical practices,and zero tolerance of bribery and corruption are demonstrated through strong governance.Our dedication to the highest ethical,governance and legal standards is reinforced by the robus
303、t foundation of our governance structures,policies and procedures.RELATED SUSTAINABILITY PRINCIPLESCreating a safe and healthy work environmentPrioritising the development and well-being of our employeesOptimising socio-economic benefitPrioritising environmental protectionRELATED UN SDGsThe followin
304、g UN SDGs relate to our governance andethics pillar:Refer to our Annual Report and Accounts 2024 for more information on our approach to integrating these UN SDGs into our business operations.SNAPSHOT OF OUR PERFORMANCEEvery recovered rough diamond is certifiedthrough the Kimberley ProcessZero cases
305、 of bribery,corruptionor anti-competitive behaviour to date(2023:zero)Zero breaches of confidentiality or customer privacy(2023:zero)Seven whistleblowing reports(2023:11)MATERIAL MATTERSImplementing effective Board-approved ESG strategiesOur contextWe are committed to adhering to relevant best pract
306、ice standards.The Board ensures that good governance and ethical conduct are upheld across the Group.Leading by example,it oversees our performance and activities in areas such as:ESG strategy development and implementation;risk management and mitigation;innovation;CSI strategies;employee health and
307、 safety;anddecarbonisation strategy and targets.Our approach to sustainabilityOur business modelChairperson of the BoardWorking towards global goalsCommittee ChairpersonEnvironmentalCEO OverviewSocialCOOEmployeesGovernance and ethicsGem Diamonds Limited Sustainability Report 202433Our approachThe Bo
308、ard is ultimately responsible for overseeing the Groups activities,strategy,financial performance and efficient use of resources.In addition,the Board oversees the Groups efforts to enhance sustainability,with a focus on decarbonisation and climate change resilience,while regularly monitoring progre
309、ss against our decarbonisation target and related energy reduction initiatives.Gem Diamonds adheres to the principles of good governance outlined in the 2018 UK Corporate Governance Code,along with voluntary disclosures under the Miscellaneous Reporting Regulation.Further information on our complian
310、ce with the Codes provisions is available in the Compliance Statement included in our Annual Report and Accounts 2024.Our performanceWe published performance against our decarbonisation target of a 30%reduction of Scope 1 and 2 emissions by 2030,using 2021 as the baseline.We conducted regular non-Ex
311、ecutive Director engagements with employees through the chair of the Employee Engagement Committee.Gem Diamonds is a constituent of the FTSE4Good Index.We maintained our status as a safe,responsible and low-cost operation.Prioritising business integrityOur contextBusiness integrity and responsible c
312、orporate citizenship remain a top priority.We are committed to respecting our stakeholders rights by preventing forced and child labour,fostering a culture of non-discrimination and promoting ethical leadership.These principles are reinforced through our human capital policies,ensuring a workplace t
313、hat upholds fairness,dignity and accountability.Our approachWe uphold a strong set of ethical principles that guide our operations.Transparency is paramount,and we maintain zero tolerance for fraud,theft,modern slavery,child labour,bribery,corruption and any other form of similar misconduct.Our comm
314、itment to human rights is reinforced through evolving policies and procedures.Employees receive training on human rights,our Code of Ethics and our core values during induction.To uphold these ethical standards,we implement a robust system of internal controls,training programmes and a stringent gov
315、ernance framework.Our sustainable development framework and Code of Ethics ensure compliance with the legislation and regulations of our host countries while aligning with international best practices.We hold our supply chain partners to the same high standards,requiring contractors to adhere to our
316、 ethical principles.Strong customer relationships are built on open communication,transparency and integrity.Leteng aligns with the security and human rights principles outlined in ISO 18788:2015,the management system for Private Security Operations.While we are not formally certified,our Leteng sec
317、urity team has received specialised training in human rights and voluntary principles as set out in this standard.We continue to enhance our reporting standards and objectives.Where applicable,we have implemented the GRI G4.1 sustainability reporting standard for organisation-wide sustainable develo
318、pment.Our subsidiaries submit detailed monthly sustainability reports through an online reporting platform,reinforcing our dedication to transparency and continuous improvement.Our performanceWe received no major or significant stakeholder complaints in 2024(2023:none).There were no breaches of cust
319、omer confidentiality in 2024(2023:none).We reported zero incidents of child or forced labour(2023:zero).None of our operations were involved in relocating or resettling PACs(2023:none).Leteng security processes continue to align with ISO 18788.The Group became a member of the Responsible Jewellery C
320、ouncil in 2024.Governance and ethicsGem Diamonds Limited Sustainability Report 202434Ensuring transparent governance and remuneration practicesOur contextThe Board reports to stakeholders on the Groups financial,social,environmental,governance and health and safety performance.It fosters an ethical
321、and transparent culture and upholds principles of good governance,pursuing long-term value for investors,host nations,employees and PACs.Our approachThe Board conducts a formal and rigorous annual performance review of its own performance,as well as that of its Committees and Directors,to ensure ope
322、n discussion and balanced decision-making without dominance by any individual or group.The Remuneration Committee,comprising two independent non-Executive Directors and a Chairperson,meets quarterly to review and determine the remuneration of the Chief Executive Officer,Chief Financial Officer and C
323、hief Operations Officer.Where appropriate,executives,senior management and external advisers may be invited to participate.The Committee sets the terms and conditions for performance-related remuneration,incorporating sustainability-linked key performance indicators into Executive Managements person
324、al performance objectives.Our performanceThe Group fully complies with the amendments and additions to the 2018 UK Corporate Governance Code.Board and Committee performance are externally or internally reviewed annually.Board independence is in line with the 2018 UK Corporate Governance Code require
325、ments.Refer to our Annual Report and Accounts 2024 for more information.Ensuring legal,regulatory and governance excellenceOur contextWe actively monitor legal,regulatory and governance requirements,as well as industry best practices,to uphold strong corporate governance principles across our busine
326、ss.Our SEIAs align with the IFC Performance Standards on Environmental and Social Sustainability,the Equator Principles and the FPIC guidelines,ensuring responsible and ethical operations.The legal and regulatory framework governing our Leteng operation is outlined in the mining lease granted by the
327、 Government of the Kingdom of Lesotho.This lease defines the terms of our partnership with the government and serves as the foundation for our operations in the region.Our approachWe review and update our governance policies in response to changes in the 2018 UK Corporate Governance Code and other r
328、elevant standards.The Corporate Governance Committee oversees the adoption and implementation of these updates.To ensure compliance with legal requirements and best practices,we established a robust internal and external audit framework that facilitates regular assessments.We maintain a structured a
329、nd effective approach to Board activities,allowing sufficient time for thorough deliberation,strategic analysis and discussions.We explore ways for the Board to collaborate more effectively with management,and ultimately with the government,employees and communities,to advance strategic opportunitie
330、s for Leteng and the broader Gem Diamonds Group.Our Board reflects a strong balance of independence,experience,gender and cultural diversity,ensuring well-rounded leadership and decision-making.Our performanceWe remain fully committed to and compliant with the Kimberley Process(2023:fully compliant)
331、.There were no breaches of customer confidentiality in 2024(2023:none).We retained our ISO 45001 and 14001 certifications.Refer to the Governance section in our Annual Report and Accounts 2024 for more information.Raising standards across the pipelineOur contextOur commitment to duty of care fosters
332、 a culture of safe and responsible mining,strengthening our reputation while prioritising workforce safety and minimising operational disruptions through effective workplace practices.Our multi-layered supply chain,encompassing technical,legal,administrative,engineering and other professional servic
333、es,supports the production of raw,direct and indirect materials.We remain dedicated to researching and developing innovative solutions to optimise our mining and treatment processes,ensuring continuous improvement and efficiency.Our approachOur stringent standards ensure that our operations and suppliers uphold our Code of Ethics.Robust governance processes proactively identify and mitigate risks,
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