• ENVIRONMENTAL

  • SOCIAL

  • EMPLOYEES

  • FINANCIAL AND OPERATIONAL

  • GOVERNANCE AND ETHICS

ENVIRONMENTAL

SOCIAL

EMPLOYEES

FINANCIAL AND OPERATIONAL

GOVERNANCE AND ETHICS

Environmental

Our commitment to responsible environmental stewardship and the UN SDGs compels us to better understand and manage our impact on the natural environment, mitigating climate change and other environmental risks, so that we leave a positive legacy for future generations.

Our 2021 performance in numbers

  • Zero major environmental incidents for the 13th consecutive year (2020: zero)
  • US$14.9 million environmental rehabilitation provision (2020: US$16.1 million)
  • Annual social and environmental management plan (SEMP) audit programme implemented


Social

The Group’s purpose “Unearthing unique possibilities”, is directly underpinned by three key priorities; extracting maximum value from operations, preparing for our future and working responsibly and maintaining our social licence to operate.

Our social licence to operate depends on regular engagement with government and local communities, as well as financial and practical support, to address challenges with mutually beneficial and sustainable solutions. As responsible operators and social partners in our host countries, we endeavour to maintain healthy and constructive relationships with governments and our PACs.

As mining life is finite, we need to establish CSI projects that continue to create value in our absence.

Our 2021 performance in numbers

  • US$0.2 million invested in COVID-19 community relief (2020: US$0.1 million)
  • US$0.8 million invested in social projects (2020: US$0.3 million)
  • US$164.9 million spent on local procurement (2020: US$126.9 million)


Employees

Our primary objective is safeguarding the health and safety of our employees, their families and surrounding communities – everyone should work and live in a safe environment every day.

We promote equality, diversity and professional development for employees at every business level with attention to their physical and psychological well-being.

Our 2021 performance in numbers

  • Zero fatalities (2020: zero)
  • US$0.7 million invested in COVID-19 mitigation measures (2020: US$1.1 million) at Letšeng
  • Letšeng retained ISO 45001 certification


Financial and operational

Our holistic approach to business performance integrates our sustainability principles and daily activities to uphold our social licence to operate, generate fair returns for our shareholders and sustainable value for all our stakeholders.

Our 2021 performance in numbers

  • US$201.9 million in revenue (2020: US$189.6 million)
  • US$4.0 million in capital expenditure (2020: US$1.6 million)
  • US$57.4 million underlying earnings before interest, tax, depreciation and amortisation (EBITDA) (2020: US$53.2 million underlying pre-exceptional EBITDA)


Governance and ethics

Our commitment to governance and ethics excellence ensures that good corporate citizenship permeates the business. We understand that the value of our exquisite diamonds is determined by the way we mine. We therefore produce and distribute rough and polished diamonds according to the highest ethical and legal standards.

Our 2021 performance in numbers

  • Every recovered rough diamond is certified through the Kimberley Process
  • Zero cases of bribery, corruption and anti-competitive behaviour to date (2020: zero)
  • Fully compliant with government regulations and relevant voluntary codes for product and service information labelling


Case studies

Maturing our organisational safety culture

Our safety journey in 2021 reflects the Group’s deep commitment to zero harm and the belief that all injuries are preventable.

Unlocking value through collaboration

A key strategic objective for the Group is to continuously identify opportunities to unlock value within our business. During 2021, we focused on continuous improvement opportunities to reduce mining-related costs and improve resource use efficiencies. At Letšeng, waste hauling distance is a major driver of both current and future mining costs and fossil fuel combustion-related greenhouse gas emissions.

Taking a holistic approach to community engagement and impact

At Gem Diamonds, we are committed to creating meaningful, and lasting change. We want to leave a positive legacy in the countries in which we operate through contributions to local economies, maximising local employment and procurement, as well as developing sustainable CSI projects. We take an integrated approach on how we achieve this, understanding how inextricably linked the issues of sustainability, society and the environment are.