Sustainability

Our Approach

Panoramic’s Approach to Sustainability Reporting

Over the past four years, Panoramic has invested greater time and effort in progressing the way we measure and communicate our sustainability endeavours.

As well as meeting the information needs of our stakeholders, we now aim to use the reporting process to achieve broader internal engagement and alignment around sustainability. This will not only produce a report that speaks to all our stakeholders, but one that also directs and integrates our efforts around sustainability with different parts of our business.

To achieve this goal we have engaged Banarra, a specialised Australian sustainability consultancy to drive the sustainability reporting process. Greater internal engagement and alignment around sustainability will assist in initiating and promoting change, particularly around areas that deliver clear value to our business, employees, shareholders, suppliers and to the communities in which we operate.

Ultimately, this will improve the way that we manage our sustainability performance and accountability to our stakeholders.

Panoramic’s Sustainability Report 2011

We continue to use the Global Reporting Initiative (GRI) Sustainability Reporting Framework as the basis of our reporting. Recognised as the world’s most widely applied sustainability reporting framework, it enables readers to compare our performance to that of our peers, both in Australia and offshore.

The GRI approach also encourages transparency and relevance in terms of what is reported, so that our stakeholders gain a clearer picture of what we have achieved and the key issues still being addressed.

Panoramic’s Materiality Approach and Key Impacts

Reporting on our key impacts requires us to first identify and understand them, and then to measure, monitor and set clear commitments and targets around how we respond to them.

In 2011, we have undergone a systematic process to identify those issues that are of most interest to, or that have the biggest impact upon, our stakeholders and on Panoramic as a business.

Having the full support and involvement of our senior management highlights the importance Panoramic places on understanding and accounting for our sustainability impacts. As a result, we have identified a number of impact areas spanning our economic performance, workforce, environment as well as the communities in which we operate.

Priority issues include a broad range of performance and management aspects around Panoramic’s business growth and systems integration, mine life and impacts on employment, safety and manual handling, tailings storage and water management, and meeting community expectations.

These are the key issues that will be the focus of our Report, enhancing its value and relevance to our stakeholders. The Report will be available on our website www.panoramicresources.com in late 2011.