Ardea scores high with ESG rating

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An independent panel of globally recognised Environmental, Social and Governance, or “ESG” experts from Digbee ESG have awarded ASX-listed Ardea Resources an overall ESG rating of BBB on both the corporate level and for its Kalgoorlie nickel project.

Ardea is suitably proud of the achievement as for an emerging development company BBB is a noteworthy outcome and management is keen to improve the rating to AAA as the company grows.

The top 5 rating bands of AAA to BB give credit for present positives/opportunities whereas the bottom 5 rating bands -B to D- reflect present negatives/threats. The review by Digby demonstrates Ardea’s continued strong commitment to ESG integration, reporting transparency and continuous improvement.

Ardea is focused on establishing a sustainable business that is a significant contributor to a de-carbonised future helping to solve complex global problems.

Our commitment to a transparent ESG strategy, reporting and continuous improvement program is exemplified by our partnership with Digbee ESG. Now that the independent team of experts from Digbee ESG TM have identified Ardea’s baseline credentials, we will now incorporate all their recommendations in order to assist in improving our Environmental, Social and Governance programs, which will remain a key focus in the development of our assets, and in upholding the highest levels of business integrity and ethics.

Mr Penkethman added “In the coming months we look forward to releasing our ESG strategy and reporting aspirations as we look to embed the improvements outlined in our maiden Digbee report. Ardea’s next submission to Digbee for review by the global panel of independent ESG experts is September 2023.”

Electric vehicle and battery customers are increasingly demanding an ESG-compliant, sustainable and ethical supply chain for nickel and other inputs. In wet tropical areas, tailings disposal and rain forest habitat destruction mean that an acceptable ESG regime is problematic. In contrast, the Kalgoorlie nickel project is located in the semi-arid, temperate Great Western Woodlands with this benign environmental setting as likely the single greatest asset of the project.

The project is also located in a well-established mining jurisdiction with absolute political acceptance and none of the land-use and societal conflicts that commonly characterise nickel laterite proposals elsewhere. All the Goongarrie Hub production tenure is on granted mining leases with Native Title Agreement in place.

Ardea’s company’s tenement portfolio is one of the largest land holdings over ancient nickel-hosting ultramafic rocks in Australia. Importantly, its significant land holding is also prospective for other types of economic mineralisation including lithium-caesium-tantalum and rare earths.

Ardea’s ambitious plan is to produce nickel and cobalt products for the lithium-ion battery sector using material sourced from the Goongarrie component of the project area. According to the Geological Survey of WA, when it comes to contained nickel, Ardea’s project is number one in WA with 5.8 million tonnes of contained nickel – surpassing BHP’s renowned 3.7-million-tonne Mt Keith operation by over 2 million tonnes.

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