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Sherritt 2017 Sustainability Report 2 2017 SUSTAINABILITY REPORT SUPPLYING A SUSTAINABLE FUTURE Sherritt International Corporation is committed to providing a safe and rewarding workplace, operating ethically, demonstrating environmental responsibility, engaging stakeholders and benefitting communities. We will meet or exceed the standards where we operate and continuously improve performance. TABLE OF CONTENTS SUPPLYING A SUSTAINABLE FUTURE 3 ENGAGING STAKEHOLDERS AND BENEFITTING COMMUNITIES 81 CEO MESSAGE 12 Stakeholder Engagement 82 OUR APPROACH 14 Community Development 91 Our Commitment to Sustainability 15 PERFORMANCE 99 Governance 16 Sustainability Framework 17 Five-Year Sustainability Goals 100 Materiality 20 GRI Index 101 Sustainability Goals 24 UNGC 114 Awards & Recognition 28 OECD 117 GRI Index Data Tables 118 PROVIDING A SAFE AND REWARDING WORKPLACE 29 Health and Safety 30 ABOUT SHERRITT 133 Public Safety 35 Map/Description 134 Site Security 42 Our History 135 Employee Relations 46 Divisions/Products 140 2017 Key Indicators 141 OPERATING ETHICALLY 49 Our Supply Chain 142 Economic Performance 50 Business Conduct 51 ABOUT THIS REPORT 143 Human Rights 55 DEMONSTRATING ENVIRONMENTAL RESPONSIBILITY 59 Tailings Management 60 Biodiversity and Land 62 Water 70 Energy and Climate Change 73 Environmental Liabilities, Closure and Reclamation 79 SHERRITT 2017 SUSTAINABILITY REPORT 2 SUPPLYING A SUSTAINABLE FUTURE Sherritt’s products have a role to play in global plans for a sustainable future for all. So, where do Sherritt’s products end up? What is unique about them? What are the opportunities? 345 million tonnes Scroll down the page to learn more. 345 million tonnes of CO2 emissions could be eliminated due to increased fuel efficiency in Sherritt’s products have important roles to play in a sustainable future. Each aviation as the result of improving aerodynamics contributes to the development of goods and services which can provide a safe, and engine design, using nickel-containing parts. healthy, secure existence for all. Our products are used widely, in thousands of applications, in the global marketplace. 25–35 years More and more, in their efforts to ensure a responsible supply chain, customers The average life of want to know how we conduct our business. Sherritt expects this interest to grow, nickel-containing products is in the and is prepared for the evolution occurring in supply chain relationships. range of 25–35 years, and for some At Sherritt, we are committed to ensuring that we operate sustainably and that applications such as roofs and cladding this we are not creating undue environmental, social, and economic harm in the areas can go up to 100 years. in which we operate. How is Sherritt responding to the challenge sustainability Nickel-containing presents when mining and refining non-renewable resources? materials and products are necessary for sustainability. ENSURING THE SAFETY AND PROTECTING THE HEALTH OF OUR EMPLOYEES ENVIRONMENT AND COMMUNITIES 70% INTERACTING WITH A WIDE PROVIDING BENEFITS TO RANGE OF STAKEHOLDERS LOCAL COMMUNITIES More than 70% the world’s supply of nickel is unsuitable for battery production; however, 100% of Sherritt’s Class I nickel briquettes and cobalt is suitable for batteries, including hybrid and electric vehicles. RESPECTING HUMAN RIGHTS ESTABLISHING RESPECTFUL AND PRODUCTIVE RELATIONSHIPS WITH ALL LEVELS OF GOVERNMENT ENSURING THE SURVIVAL OF A VIABLE BUSINESS SHERRITT 2017 SUSTAINABILITY REPORT 3 SUPPLYING A SUSTAINABLE FUTURE <30% OF ALL NICKEL IS SUITABLE FOR ELECTRIC VEHICLE (EV) BATTERIES It is impossible to meet the demands of a developing world without nickel and cobalt. Batteries, which rely on nickel and cobalt, are becoming ever increasingly important for storing renewable energy and supporting the global goal of sustainability. While the first nickel battery has been around for more than a century, the last three decades have seen extraordinary changes in how batteries are made and used. New applications – from storing solar energy to powering electric vehicles – have emerged. These new applications, in turn, are pushing the limits of battery capacity and ELECTRIC VEHICLE BATTERIES power, resulting in greater demands for higher purity metals. Enter Class I nickel. WILL INCREASINGLY RELY ON NICKEL Unlike nickel pig iron which is high in iron content, Class I nickel is purer and amenable to battery production – particularly for the fast-growing electric vehicle market. It is expected that carmakers will invest $100 billion in electric vehicles by 2020. Each of these cars will be powered by batteries made from cobalt and nickel. Sherritt produces nickel and cobalt in briquette form, the most suitable for battery production. CHANGES DRIVEN BY: Cobalt supply constraints Commodity pricing environment Surging end-product demand SHERRITT 2017 SUSTAINABILITY REPORT 4 SUPPLYING A SUSTAINABLE FUTURE 65% OF NICKEL PRODUCED GLOBALLY IS USED TO MANUFACTURE STAINLESS STEELS Building infrastructure to last is becoming increasingly topical as cities and countries are burdened with the high costs of maintaining things like hospitals and highways, some of which are not even that old but were built with materials not suited for the intensity of use, the geography, or other factors. For bridges, in particular, the use of carbon steel rebar has led to the deterioration of concrete over time. The worst corrosion occurs in regions where road salt is heavily used or in areas near to salt water, but nickel- containing stainless steel rebar prevents damage to structures caused by rebar corrosion. Stainless steel rebar is used in ever increasing amounts today both in PICTURED HERE IS THE HELIX North America and around the world. While stainless steel is more expensive, BRIDGE IN SINGAPORE, MADE its selective use can be justified financially when all the costs of maintaining the FROM NICKEL-CONTAINING structure over its life are considered. STAINLESS STEEL. In Edmonton, the provincial capital of Alberta, Canada (about 30kms southwest THE CORROSION RESISTANT of Sherritt’s Fort Site), with a metropolitan population of over one million, a new PROPERTIES OF STAINLESS ring road around the city was completed in 2016, with the Northeast Anthony STEEL ARE EXCELLENT FOR Henday Drive portion being 27km of 6 or 8 lane highway. Winter is especially THE HUMID CLIMATE. hard on the roads in Edmonton. The average daily temperature in January is -10.4°C, with an annual snowfall of about 124cm. Large amounts of salt, both sodium and the more corrosive calcium chloride, are applied to keep the roads as free from ice as possible. In 2011, Type 2304 (S32304) stainless steel was specified for a trial for one highway interchange on the ring road. The success of that venture led to the specification of Type 2304 rebar for a major portion of this new section, reported to be in the region of 6,000 tonnes. Perhaps in 75 years or so, a Life Cycle Assessment will be done of one of these Edmonton bridges, leaving no doubt that the engineers in charge made the right decision. SHERRITT 2017 SUSTAINABILITY REPORT 5 SUPPLYING A SUSTAINABLE FUTURE 370,000 METRIC TONNES OF FERTILIZER IS PRODUCED BY SHERRITT EVERY YEAR DID YOU KNOW? According to Fertilizer Canada, by 2050, the world will need to increase food production by 70 percent. Without fertilizer, global food production would be half of current levels, requiring farmers to grow more food on land that is increasingly under pressure from development. Sherritt’s nickel refineries in Fort Saskatchewan, Alberta and Ambatovy in Madagascar produce ammonium sulphate fertilizer as a by-product, which is then sold to Canadian, East African (including Malagasy), and Asian farmers. A saleable by-product means less waste from the refining process and more food on the table for people around DID YOU KNOW? SHERRITT’S the world. FORT SASKATCHEWAN * This number fluctuates from year-to-year depending on nickel production REFINERY WAS THE FIRST FERTILIZER PRODUCER IN ALBERTA. TO LEARN MORE ABOUT HOW FERTILIZER FACTORS IN TO THE NICKEL AND COBALT PRODUCTION PROCESS, SEE THIS INFOGRAPHIC. SHERRITT 2017 SUSTAINABILITY REPORT 6 SUPPLYING A SUSTAINABLE FUTURE 15% OF CUBA’S GRID ENERGY IS GENERATED BY ENERGAS Sherritt’s Cuban power business operates through a one-third interest in Energas S.A. The remaining two thirds interest is held equally by two Cuban agencies: Union Cubapetroleo (CUPET) and Union Electrica (UNE). Did you know that raw natural gas that would otherwise be flared is supplied to Energas by CUPET free of charge? The processing of raw natural gas produces clean natural gas, used to generate electricity, as well as by-products such as condensate and liquefied petroleum gas. The Energas facilities, which are comprised of the two combined cycle plants at Varadero and Boca de Jaruco, produce electricity using steam generated from the waste heat captured from the gas turbines. OUR EXCELLENT CRISIS In 2007, the unit at our Varadero facility was granted Clean Development PREPAREDNESS RESULTED Mechanism status under the provisions of the Kyoto Protocol by the United IN MINIMAL IMPACTS OF Nations Framework Convention on Climate Change. We have recently built HURRICANE IRMA, WHICH another combined cycle-unit at a different facility in Cuba that is eligible for this MADE LANDFALL IN 2017, designation. Not only does this investment provide the Cuban grid with much- AND ALLOWED SHERRITT needed energy for the Cuban people, but we have also received numerous TO QUICKLY MOBILIZE TO carbon credits. PROVIDE POST-STORM SUPPORT IN THE COUNTRY Energas’ electrical generating capacity is 506 MW. AND BRING THE POWER SUPPLY BACK ONLINE. SHERRITT 2017 SUSTAINABILITY REPORT 7 SUPPLYING A SUSTAINABLE FUTURE 57% OF ALL HISTORICALLY MINED NICKEL STILL IN USE1 While demand for nickel is expected to grow over time, nickel is also recyclable and amongst the most valuable of the common non-ferrous metals, giving a commercial imperative to recycling and reuse. Not only does the nickel-containing stainless steel used in the building and construction industry contain a high percentage of both post-consumer and post-industrial recycled content, at the end of its long, useful life in a building application it is 100% recyclable.
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