20784 29Metals AR 2022 WEB V1 - Flipbook - Page 8
Managing Director & CEO report
Following 29Metals’
listing on the Australian
Securities Exchange
(‘ASX’) in July 2021, our
team has been dedicated
to delivering our operating
plan, streamlining and
improving our processes,
and laying the groundwork
for future growth.
Building solid
foundations for
future growth
TRIFR
9.8/mwhrs
2022
21%
2021
12.4
Increased copper and
zinc metal production:
Copper: 40.8 kt (2021: 40.7 kt1)
Zinc: 57.6 kt (2021: 47.8 kt)
Our first full calendar year as a listed
Company saw pleasing progress,
including significant improvement in
safety performance, delivery of increased
copper and zinc production, increases in
our Mineral Resources and Ore Reserves
estimates, and the launch of Our Approach
to Sustainability & ESG and release of our
first Sustainability & ESG Report.
This progress does not detract from the
work we know we need to do to realise
the opportunities that lie ahead. We are
committed to improving productivity
and operational performance, including
advancing life of mine (‘LOM’) tailings
facilities, to further strengthen 29Metals’
position in our journey to become a
leading ASX-listed producer, developer
and explorer for copper and other metals
critical to the global energy transition.
2022: Solid operating performance
in a difficult environment
Advanced in-mine and
near-mine organic
growth opportunities
with the completion of
feasibility studies at Gossan
Valley and pre-feasibility
study at Cervantes
Full exposure to
copper price
with hedges settled
during 2022
6
29Metals 2022 Annual Report
2022 was a challenging year across the
mining sector in Australia (and globally),
with the combined impact of COVID-19
restrictions, tight labour markets, supply
chain disruptions, inflationary pressures
and global macroeconomic conditions.
Against this backdrop, the 29Metals team
worked tirelessly to ensure the health,
safety and wellbeing of our workforce,
maintain production, and manage costs in
an escalating inflationary environment.
Safety
In 2022, our safety activities focused on
leading indicators including critical control
management, hazard identification and
leadership interactions, all contributing
to a stronger safety culture and
improved safety performance.