ESG
Environment
Thor’s approach to responsible mining is built on protecting ecosystems, reducing emissions, and managing water and waste with discipline.
Our environmental priorities are shaped by the Segilola EIA consents and strengthened through our alignment with International Finance Corporation Performance Standards. We go beyond minimum requirements through additional management plans and rigorous monitoring. This includes daily climate parameter checks, monthly programmes covering air, soil, water, noise and biodiversity, and quarterly compliance audits submitted to regulators. We also apply strict oversight to tailings facilities and groundwater protection to safeguard surrounding communities and environments.
In 2025, Thor recorded 44,061 tCO₂e (Scope 1), with an emissions intensity of 0.49 tCO₂e/oz and energy intensity of 1.87 GJ/oz. Our power mix continued shifting through an optimised CNG system (57%), supporting a lower-emissions pathway aligned with the goals of the Paris Agreement.
Water stewardship is central to operational resilience. During 2025, 90% of total water use was reclaimed from the TMF, reducing freshwater reliance to 196 ML and achieving a 42% reduction in water intensity of ore processed. We also maintained zero chemical spills, supported by best-practice monitoring, controls and independent oversight across our sites.
Emissions & energy
In 2025, emissions intensity was 0.49 tCO₂e/oz, supported by an energy mix led by 57% CNG and ongoing decarbonisation initiatives
Water stewardship
We reclaimed 90% of process water from the TMF and reduced freshwater withdrawal to 196 ML, improving circularity and reducing scarcity
Waste & circularity
44% waste rock reduction in FY 2025, delivering US$5.4m in savings in construction cost
Monitoring & compliance
Our social approach is formalised through Thor’s Social and Community Development Policy and delivered through CSR programmes, compensation and livelihood restoration, and Community Development Agreements (CDAs).
Social
We focus on long-term shared value, built through transparent engagement, local opportunity, and targeted investment in host communities.
Our social approach is formalised through Thor’s Social and Community Development Policy and delivered through CSR programmes, compensation and livelihood restoration, and Community Development Agreements (CDAs). In 2025, SROL held 151 community meetings with 4,761 participants, and delivered 23 community projects with over US$575k invested. We also prioritised local economic contribution, with 84% of procurement spent locally (about US$93.4m), supporting jobs, suppliers and community-level growth.
Governance
Strong governance underpins ethical leadership, regulatory compliance, and accountable ESG performance across the business.
Thor’s governance framework is designed to meet Canadian public company standards and AIM obligations, with Board oversight of strategy, risk management and ESG integration. We maintain 15 Board-approved governance and ESG policies, including anti-bribery and corruption, human rights, whistleblowing and supplier standards. In 2025, we maintained a record of zero cases of bribery, corruption and cybersecurity breaches. We also support transparency through NEITI and ESTMA reporting, including disclosure of US$3.088m in royalties, taxes and fees paid to host governments.
32 exploration licences across the portfolio, with FY2025 generating