Metals Exploration plc has published the fifth sustainability report for its subsidiary FCF Minerals’ performance at its Philippines operations, including the Runruno gold mine, for 2024.
INVESTMENT
The company said it had also switched from biennial to annual publication to increase FCF Minerals’ transparency, with the report’s figures comparing with those of 2023.
The company said that economic contributions increased by 18% to Philippine pesos (PHP) 10.97 billion, equal to approximately £147 million.
Products and services sourced from host communities totalled PHP190.34m.
Safe man hours increased by 15% to zero lost time injuries out of more than 24 million man hours worked.
Local community and infrastructure investments, also including education, health and livelihood, rose by 13% to PHP 86.38m.
Among other projects, the company purchased and installed 65 units of solar lights to monitor road users’ safety, pipelines for clean water and a hanging footbridge for schoolchildren.
Additional hectares of land were restored, more than 13,000 trees donated and 871 hectares of habitat areas protected.
Water consumption in 2024 operations decreased by 10.97% and total greenhouse gas emissions fell by 15.1%.
The number of employees increased by 10.5% to 853 with more than 98% comprised of Filipinos.
FCF Minerals also received the Presidential Mineral Industry Environmental Award in the Surface Mining Operation category, for the third consecutive year.
“I am immensely proud of the contents of this report and the work that was carried out by FCF Minerals in 2024,” said Metals’ chief executive officer Darren Bowden.
“Our core focus is to enhance the lives of our people and local communities through the responsible management of our natural resources.
“We remain committed to our objective of fostering inclusive economic growth within our communities through the prioritisation of local procurement and employment opportunities, along with investments in infrastructure development, education, training programmes, and livelihood assistance.”