20974 29Metals AR23 WEB V1 - Flipbook - Page 126
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29Metals 2023 Annual Report
Directors’ Report continued
47
29Metals Appendix 4E and Annual Financial Report for 29Metals Limited and its Controlled Entities for the year ended 31 December 2023
Directors’ Report
Remuneration Report
Company KPIs – 2 2
TI
The 2 2 STI Company KPIs are set out in the table below, along with the Board’s assessment of performance against those KPIs.
Assessed
performance
(% of Target)
2023 STI Company KPI
Weighting
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Introduced for the 2 2 TI to reflect stakeholder expectations regarding ustaina ility
performance
This Company KPI links remuneration outcomes to performance against 29Metals’
pu lished ustaina ility
strategy focusing on key risks to the roup
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(9 % of target
performance)
Improved safety
performance
%
Targeting continuous improvement in safety performance as measured by the rolling 2
month T I lagging indicator as at
ecember.
Performance outcome reflects significant year on year improvement ( %) in T I .
. %
Completion of critical
control verifications
%
Targeting continuing focus on systems and processes to support management of safety risks
as measured by implementation of the Company’s critical controls framework.
Performance outcomes reflects above plan completion of critical control verification audits
across both operating sites.
.2%
5%
Targeting improvement in the gender diversity of our workforce by increasing the relative
proportion of women in leadership roles across the roup and facilitating development of
females.
Performance outcomes reflects
% improvement in the relative proportion of leadership
roles held by females and implementation of development plans for at least 5 % of female
employees at superintendent level or above.
5%
.5%
Targeting improvement in key environmental management risk areas to support the long
term sustainability of 29Metals’ business, focusing on reducing water inventory held on site
at Capricorn Copper.
Performance outcome reflects significant reduction in water inventory held on site at
Capricorn Copper which was severely impacted by the extreme weather event in March
2 2 . 29Metals significantly reduced water inventory held on site, with water levels in the
higher risk Mill Creek am regulated structure reduced below the regulatory re uirement at
ovember 2 2 (beginning of the wet season).
%
.5%
Targeting continuous improvement in relationships with community stakeholders to
support the long term sustainability of 29Metals’ business, through the design and
implementation of community engagement programs.
Performance outcome reflects successfully roll out of internship program at Capricorn
Copper, in partnership with the Indigenous stakeholders the Kalkadoon.
%
Inclusion
diversity
–
management
ater
– Community
engagement programs
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Capricorn Copper
2 .5%
olden rove
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Link to business performance & strategy
Targeting production and costs management performance as key dri ers of cashflow
generation and shareholder alue this KPI was ad usted during the year to focus on
operating cashflow generation and progress restarting operations at Capricorn Copper
following the extreme weather e ent in March 2 2
Performance outcome reflects threshold expectation of successful completion of Phase of
the Capricorn Copper ecovery Plan with the restart of mining operations at Mammoth and
reenstone, and milling operations, in August 2 2 .
2.5%
Performance outcome reflects below threshold performance in cashflow from operations
for the year.
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Targeting increases in re eser es estimates to support future production mine life
extensions and production growth through the Company’s pipeline of organic growth
opportunities
Performance outcomes reflect a 2 % increase in estimated re eserves tonnes year on
year, after depletion for production.
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( . % of target
performance)
22%
il%
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( 2 % of target
performance)
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