Ann: Quarterly Activities Report - March 2022, page-302

I get the impression MRC has already started with these studies and intentions to improve our Environmental management of the Tormin project, These will be critical for the mine's expansion of the Inland Strands and other areas the company has earmarked for expansion.

I am keen to see MRC rehabilitation of the area of the Inland strands mining pits as an example of returning the site back to its pre-mining state.
It is also good to see MRC will be working with the local groups in the future, hopefully this will result in fewer legal challengers and we can resolve any issues prior to obtaining our next ML or exploration approvals.


As part of the resolution, MSR has agreed to:

(a) follow the environmental authorisation process in terms of the National Environmental
Management Act (“NEMA”), in relation to any future applications under section 102 of
the Minerals and Petroleum Resources Development Act where the basis for such
application triggers a NEMA listed activity;

(b) submit a draft Biodiversity Management Plan (“BMP”) in terms of section 43 of the
National Environmental Management Biodiversity Act to the Minister of Environment,
Forestry and Fisheries for consideration;

(c) implement certain commitments set out in the BMP within two months, subject to
obtaining any necessary consents from the relevant authorities; and

(d) submit a motivation for a Strategic Environmental Assessment to the Minister of
Environment, Forestry and Fisheries proposing that this Minister facilitate the initiation
of an environmental management framework in terms of Regulation 2 of the
Environmental Framework Regulations.

The resolution of the appeals confirms MSR’s permitting over the Section 102 Mining Right
Areas including the Northern Beaches and Inland Strands mining areas.

The Company’s Chief Executive Officer and Managing Director, Mr Jacob Deysel commented:
“We are pleased that we have reached an agreed resolution on these matters with the Centre
for Environmental Rights NPC. We are encouraged by the engagement between the
respective parties in agreeing to an outcome acceptable to all parties and look forward to
working together collaboratively in the future. The outcome is in keeping with our global drive
and focus from an Environmental, Social and Governance perspective (ESG).”