Sustainability Report
Perth, Oct 11, 2024 AEST (ABN Newswire) - Image Resources NL (
ASX:IMA) (I5R:FRA) aspires to a philosophy of sustainable generation of value for its shareholders, employees and all its stakeholders in the communities in which it operates as a growing producer and supplier of critical minerals into global markets.
We view value generation as a critical component of sustainability, and we strive for continuous improvement in managing and minimising our impacts on the local areas in which we operate as well as globally. We aim to understand how our actions affect the local and global environments, local and broader communities, our stakeholders, and our industry. Our commitment to this philosophy is to ensure a sustainable future for the Company, all our stakeholders, and the world.
This is the second Sustainability Report of Image Resources NL. This report is for the 2023 calendar year (CY2023). This report discloses our approach to understanding and mitigating our impacts on material environmental, social and governance (ESG) topics. The report also formalises our sustainability philosophy; the sustainable generation of value for all our stakeholders.
The information in this report applies to Image's business and operating activities during CY2023, and focusing primarily on the Company's 100%-owned Boonanarring mineral sands mining and processing operation, which completed active mining and ore processing in September 2023. The reported information has been reviewed and approved by the Board of Directors.
The metrics used in this report align with the Sustainability Accounting Standards Board (SASB) Standards for Metals and Mining (2021-12). Additionally, the information provided aims to reflect our commitment to the United Nations (UN) Sustainable Development Goals (SDGs).
By reporting against these standards and frameworks, we uphold our values to formally enhance our sustainability performance and continue to transparently communicate with our stakeholders.
*To view the Sustainability Report, please visit:
https://abnnewswire.net/lnk/4OP4IO23
About Image Resources NL
Image Resources NL (ASX:IMA) is a mineral sands focused miner and supplier of critical minerals titanium dioxide, zircon and monazite containing rare earth elements for sale into global markets. The Company has a demonstrated track record of successful project development and operations at its Boonanarring project located 80km north of Perth in the infrastructure rich North Perth Basin.
Boonanarring was a high-grade, high-zircon, low capital cost mine development that was constructed on-time and on-budget in CY2018 and then ramped up to name plate capacity in the second month of operation and went on to operate profitably through Q3 2023. Debt for the project was paid off early in February 2021 and the Company paid dividends to shareholders in April 2021 and April 2022.
Image completed critical construction of the Atlas project in January 2025 and started commissioning and achieved first HMC production in February 2025 and will be ramping up production and revenue from Atlas in Q2 CY2025.
Chapter 1 operating strategy for Image involved the transition from advanced explorer to active miner in CY2018, operating a single mine and producing a single product (HMC) sold into a single jurisdiction (China). Chapter 2 strategy (post Atlas) will focus on the Company's growth and sustainability ambitions which includes the operation of multiple mines in parallel, producing multiple products (separating HMC), and selling into a global market.
The Company is also investigating a significant value adding step of upgrading its ilmenite to synthetic rutile using a lower GHG emissions, innovative process which Image has provisionally patented, and aims to demonstrate the technical and economic feasibility of this novel process in CY2025-26.
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