Marine Minerals Limited: Sustainability Policy
Marine Minerals Ltd (MML) is a Cornish company investigating opportunities for the recovery of minerals
deposited on the sea bed as a result of Cornwall’s historic tin mining industry. MML has already made a public
commitment that proposed work in Cornwall will only proceed if the Company can satisfy stringent commercial,
environmental and social requirements. To support this, MML has developed the following Sustainability Policy
which will define the Company’s role in supporting social progress, economic growth and environmental
protection in Cornwall that meets the needs of the present without compromising the ability of future
generations to meet their own needs. This Sustainability Policy will also generate business value through MML
meeting the challenges of operating more sustainably and achieving corporate, social and environmental
resilience.
MML is committed to ensuring the best possible economic, social and environmental outcomes for all those
whom MML activity influences, including the communities in which MML operate, all direct and indirect
employees of MML (including sub-contractors, business partners, investors) and, as far as practicably possible,
organisations within the company’s supply chain. Each person at MML is responsible for implementing and
maintaining the principles of this Sustainability Policy alongside MML’s existing Environmental Policy and Health
and Safety Charter.
In order to achieve this commitment, MML will abide by the following principles:
Environment and Resources: MML is committed to ensuring that its business decisions minimise the
Company’s environmental footprint (and where possible have a neutral or even positive impact), make a positive
contribution to a low carbon economy and generate more sustainable outcomes for the Company, its investors
and the communities in which it operates. MML is committed to developing methods for the recovery of marine
sand for processing with minimal impact on the marine fauna and wildlife, and to taking the best professional
advice available for the project development and implementation. MML will proactively develop opportunities to
minimise waste, optimise re-use and where possible recycle natural resources. Further, MML will proactively
seek to minimise its carbon footprint through, for example, the adoption of low-carbon alternatives for meetings
and communication. This will include the exchange of information via virtual office technologies and the use of
Skype and other video conferencing technology to minimise travel. MML are committed to continual
improvement in environmental performance through ISO 14001 accreditation.
Economic Growth and Prosperity: MML will seek to achieve better outcomes that not only contribute to the
financial sustainability of its business, but also help to address broader global challenges such as accessing
natural resources, biodiversity, social and economic inequity and protecting local communities. Specifically, MML
will seek to operate (as far as possible) within a limited geographical area to maximise the impact of new
employment and business opportunities in Cornwall and generate prosperity in the communities in which it
operates. MML will also continue the search for other sources of marine minerals along the Cornish Coast and
beyond.
People and Communities: MML is committed to making a positive contribution to the communities in which it
operates, through maximising opportunities and resources to help communities and individuals achieve their full
potential. MML will endeavour to ensure fairness, equality and dignity are integral to all of its business decisions
and operations. In areas where MML is operating, it will identify the stakeholder groups and establish a
comprehensive and transparent programme of engagement that will feed directly into its decision making
processes. Through such stakeholder engagement, MML will seek to minimise community disruption and support
social need.
Business Conduct and Ethics: MML will build and maintain the highest level of ethical standards in all that it
does as a company, and in its dealings with other parties. MML is committed to conducting business in a fair,
equitable and honest manner.
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Wellbeing and Heath and Safety: In addition to the specific policies set out in MML’s Health and Safety
Policy Statement, MML will support an approach that allows employees and associates to achieve a reasonable
work-life balance. A Health and Safety consultant will be employed by MML to devise all of its procedures both
on land and at sea and those procedures will be implemented. MML will work with Trinity House to establish
appropriate vessel marking and lighting. Also, the company will work with The Maritime Coastguard Agency and
RNLI including local life guards to adopt appropriate health and safety procedures with regard to the interface of
the company’s works with other shipping and the general public at large. For the onshore work all mineral
processing work including transport and storing of both pre-concentrate and concentrate will be carried out in
accordance with the relevant acts of parliament and European Law as appropriate.
Leadership: MML will seek to lead by example, continuously demonstrating leadership through the depth,
breadth and quality of its business. MML will pioneer new mining techniques that respond to changes in
resource availability, whilst meeting changing regulatory, reputational and community demands. MML will lead
and manage its business in a way that enables it to generate sustainable profit growth that provides sound
returns for investors and enables MML to contribute to the broader sustainability agenda.
Continual Development: MML will ensure all investors, partners and stakeholders understand and support the
benefits of the sustainable development journey. MML will establish appropriate tools and processes to assess
and continually improve performance, benchmark performance against other companies in the sector, develop
clear measurable and deliverable targets, and learn from experience to adapt and change as appropriate.
Direct Contributions to Communities: MML will work with its investors to proactively develop a Business
Foundation Support scheme, whereby MML will directly contribute a percentage of profits to local projects and
initiatives within the communities in which it operates.
Signed:
Signed:
Michael J Proudfoot
John G Sewell
Managing Director
Director
3 December 2012
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