Australian Rare Earths (AR3) continues to support the global transition towards a low carbon economy by working towards developing a new sustainable supply of critical rare earths.
A low-carbon economy
As the world’s transition towards a low-carbon economy accelerates, so does the demand for responsibly supplied rare earth elements, critical in the production of rare earth permanent magnets (REPMs) used in applications such as electric vehicles, wind turbines and robots.
The use of REPMs in the drives of domestic appliances is receiving increasing awareness as a means by which we can make more efficient, the use of power we generate. Imbeded within this increase in demand, comes higher expectations from the global community that sustainable mining production is positioned at the forefront of the global permanent magnet supply chains.
At AR3, our core values form the basis of our approach to sustainability. Inherent in our strategy is the way we engage with local communities to build trust and respect, how we plan and design our activities to minimize our environmental impact and the controls we put in place to ensure strong governance and accountability across all our operations. Sustainability directs the decisions we make as a company and empowers our employees.
These values represent who we are and how we work — each one of us, everywhere, every day.
Sustainability Foundation Pillars
AR3 understands that exploring and developing mineral resources in a sustainable way is essential to our operating and financial success. We are committed to integrating and promoting sustainability into all facets of our business.
For us, that means, building the foundations of trust, respect and acceptance through:
- minimising our environmental footprint
- providing a safe, respectful and inclusive workplace to our people and contractors
- building prosperity within the local communities where we operate
- operating strong governance frameworks to maintain accountability and uphold company values
To ensure our key sustainability pillars adequately inform our thinking in addressing society’s most important challenges, AR3 has framed its key stakeholder impact and focus areas within each pillar against the World Economic Forum’s Stakeholder Capitalism Metrics and the United Nations (UN) 17 Global Sustainable Development Goals (SDGs).
Focus areas:
- Climate Change – Greenhouse Gas Emissions
- Freshwater availability – Water Consumption
- Nature Loss – Land Use
Focus areas:
- Economic Contribution
- Research and Development Expenditure
- Total Taxes Paid
- Sponsorship
Focus areas:
- Health and Safety
- Diversity and Inclusion
Focus areas:
- Setting Purpose to Create Value for all Stakeholders
- Governance Body Composition
- Ethical Behaviours
- Risk and Opportunity Oversight