According to Petra’s new Sustainability Framework pillars, the following non-financial KPIs are considered by management to be the most appropriate in terms of tracking Petra’s sustainability performance year-on-year.
These ESG measures make up 30% of the Group scorecard KPIs used to determine Exco and Senior Management performance for the award of bonuses.
Pillar 1: Valuing our people
Safety (Group LTIFR)
Lost time injury frequency rate per 200,000 hours worked
0.24+9%
Overview: LTIFR increased, largely as a result of the ramping up of the extension projects at Cullinan Mine and Finsch and a single, blasting-related, incident at Cullinan Mine in particular. Our focus has been on remedial actions and behaviour-based intervention programmes. This has led to an improvement in the second half of the Year and more specifically the last quarter.
Strategic relevance: The safety of our people is our foremost priority. It has an impact on our culture, our performance and our reputation.
Related material topic: Employee safety, health and wellness
SDG:
Reference: Page 12
Women in the workforce (&)
The percentage of women in the workspace
21%5%
Overview: We continue to place great emphasis on diversity and on advancing workplace equality. Women currently represent 30% of Senior Management.
Strategic relevance: A diverse workforce will improve performance, allow us to attract and retain top talent, strengthen employee satisfaction, and help secure our social licence to operate.
Related material topic: Diversity and inclusion; Employee development
SDG:
Reference: Page 12
Training spend (US$ million)
Investment in employee training and development
5.0-18%
Overview: Training spend was lower in FY 2023 due to a weaker Rand against the US Dollar, and the deferral of some training to FY 2024 so as to align with the new approach taken to talent management which is linked to performance management.We continue to align employee capability with the organisation’s needs. A particular focus is the development of women, previously disadvantaged individuals and people within our communities.
Strategic relevance: We rely on our employees’ talent, commitment and performance. Training is a critical driver of loyalty and enables employees to meet their and our objectives.
Related material topic: Employee development
SDG:
Reference: Page 12
Pillar 2: Respecting our planet
Water efficiency (M3/T)
The total volume of fresh water used in production (ROM plus tailings) per tonne treated
0.69-31%
Overview: We continue to use our water responsibly and efficiently. In FY 2023, production was suspended at Williamson (from November 2022) and at Koffiefontein (from Q3 FY 2022) which affected water efficiency. In FY 2023, around 88% of our consumption was recycled water (FY 2022: 80%).
Strategic relevance: Water is a scarce, shared natural resource that is critical for our successful operation. Water scarcity will be exacerbated by climate change.
Related material topic: Water management; Climate change
SDG:
Reference: Page 13
Energy efficiency (KWH/T)
Total electricity consumption as a function of production
44.8+17%
Overview: In FY 2023, our total energy consumption decreased by 5% to 1.85 million GJ (FY 2022: 1.93 million GJ). Most energy consumed currently is non-renewable energy. This includes the diesel used in operating trackless mobile machinery (TMM) and in generating electricity, which makes up 20% of our overall energy usage. The balance of 80% is electricity purchased from utilities. In South Africa, electricity consumed is currently sourced from the national utility with standby diesel generators used for emergencies. Williamson sources most of its energy from Tanzania’s national grid. Reduced activity at Williamson and Koffiefontein had a negative impact on our energy efficiency.
Strategic relevance: Energy security and costs are important factors in our success. Reducing our energy consumption also reduces our GHG emissions.
Related material topic: Climate change
SDG:
Reference: Page 13
Carbon emissions (TCO2-E/CT)
Carbon emissions intensity for Scopes 1 and 2
0.164+18%
Overview: Scope 2 emissions dominated our emissions profile, particularly in South Africa. Our gross carbon footprint (scope 1 & 2) reduced by 8%. The lower diamond recovery had a negative effect on the carbon intensity outcome. To reduce our GHG emissions we are planning to increase our access to renewable energy (wind and solar).
Strategic relevance: We have committed to achieving net zero carbon emissions by 2050, although we aim to achieve this by 2040. This is in line with the global imperative under the Paris Agreement.
Related material topic: Climate change
SDG:
Reference: Page 13
Pillar 3: Driving shared value partnerships
Social expenditure (US$m)
Total social expenditure (compulsory and discretionary) on local communities
2.77+194%
Overview: In South Africa, we continued to comply with the requirements of the Mining Charter and our Social and Labour Plan commitments, and executed a number of outstanding projects. The social expenditure increase largely due to projects at Cullinan Mine progressing to execution. In Tanzania, we complied with our social expenditure commitments, which include the progress we have made with the RJPs.
Strategic relevance: Social expenditure is directly related to compliance and our social licence to operate. We target social expenditure of 1% of net profit after tax (NPAT) at an asset level.
Related material topic: Community relations and social investment; Enterprise and supplier development
SDG:
Reference: Page 14
Community training and development spend (US$ million)
Total community training spend
0.43-4%
Overview: Community training and development continues to be as important to us as the training and development of our own employees. Training spend was lower due to weaker rand against the US Dollar and the deferral of some training to FY2024 to align with the new approach taken to talent management.
Strategic relevance: The skills we require are scarce in the communities surrounding our operations. Our community training and development programmes support our licence to operate through the social and economic upliftment of communities, and provide the Company with reliable and accessible skills needed in the business.
Related material topic: Community relations and social investment; Stakeholder engagement and management
SDG:
Reference: Page 14
Procurement spend (US$ million)
Total Group procurement spend
168.1+21%
Overview: In FY 2023, our local supplier procurement was 49% of total procurement in South Africa and 90% in Tanzania. We have implemented a new enterprise supplier development approach in South Africa, which will increase development and support to SMMEs. Increased procurement spend in FY 2023 was largely attributable to the life extension projects at Cullinan Mine and Finsch and for Williamson was largely attributable the remediation work following the TSF failure and the new TSF construction activities.
Strategic relevance: Our integrated supply chain approach supports the reliable and cost-effective supply of goods and services to our operations. At the same time we seek to enhance our licence to operate through a meaningful contribution to local economies.
Related material topic: Community relations and social investment; Enterprise and supplier development
SDG:
Reference: Page 14
Pillar 4: Delivering reliable production
Operational capex (US$ million)
Capital expenditure incurred by the operations, comprising expansion and sustaiing capex
117.1+130%
Overview: Total capital expenditure amounted to US$117.1 million following the ramping up of underground extension projects at both Cullinan Mine and Finsch. The increase in stay-in-business capital expenditure was largely due to the replacement of underground fleet at Finsch to mitigate the machine availability challenges encountered and an increase at Williamson due to the construction of the new tailings facility.
Strategic relevance: Our capital expenditure supports the maintenance of our operations and enables our growth.
Related material topic: All material topics
SDG:
Reference: Page 15
Rough diamond production (MCTS)
The number of diamonds produced from Group operations
2.7-20%
Overview: Production declined by 20% to 2.7Mcts due to the temporary halt to production at Williamson and the lower grades mined at Cullinan Mine and Finsch. Mitigating steps have been implemented at both operations and grades at the Cullinan Mine have now reverted to revised levels with some volatility at Finsch expected in the short term. Williamson restarted production ahead of schedule in early July 2023.
Strategic relevance: Production targets reflect our strategy and growth ambitions.
Related material topic: All material topics
SDG:
Reference: Page 15
Revenue (US$ million)
Income earned from rough diamond sales and partnership stones
329.8-44%
Overview: The year-on-year reduction in revenues mainly relates to a 20% decrease in diamonds recovered, no Exceptional Stones (≥US$15 million) sold (FY 2022: US$40.2 million) and the deferral of a portion of Tender 5 and the majority of Tender 6 sales to FY 2024; while this decision had a negative impact on FY 2023 revenue, it demonstrates our ability to be flexible with our sales processes, supported by our improved financial position.
Strategic relevance: Revenue is a reflection of our production targets, and our in-house sales and marketing capabilities.
Related material topic: All material topics
SDG:
Reference: Page 15
