ESG Report 2024
Strategy
In 2024, Alamos developed a formal Sustainability Strategy to guide our long-term approach to environmental, social and governance (ESG) performance. Now finalised, the strategy is anchored by seven overarching sustainability objectives, each representing a clear long-term goal. These objectives are supported by a series of time-bound, actionable targets that will serve as the foundation for measuring progress.
Importantly, these objectives and targets compliment — rather than replace — the safety and ESG metrics outlined in our Management Information Circular, which currently inform Alamos’ corporate performance evaluations. We are actively exploring ways to further integrate these targets into our corporate performance framework, including their potential use in determining annual variable compensation for executives.
Establishing relevant, meaningful, and achievable targets was central to the strategy’s development. To ensure alignment with both internal priorities and external expectations, Alamos conducted a two-part assessment:
- The internal analysis focused on aligning objectives and targets with Alamos’ corporate vision, five-year roadmap, strategic goals, and current sustainability performance – highlighting strengths and areas for improvement.
- The external analysis examined factors outside of Alamos’ direct control that could influence our performance and decision-making, helping us proactively identify and address emerging risks and opportunities.
Through this process, seven key performance areas were identified as central to our sustainability ambitions:
- Health & Safety
- Indigenous Peoples
- Community Development
- Emissions Reduction
- Water Management
- Cyanide Code Adoption
- Conformance with Standards
For each area, one overarching objective and a set of measurable targets were developed through a series of workshops led by the Corporate Sustainability Committee. This committee – comprising of members of Alamos’ executive leadership team and the corporate sustainability department – narrowed an initial broader list to focus on the most material areas. The committee is also responsible for overseeing implementation of the strategy and ensuring it evolves in line with business priorities and best practices.
The base year for all targets is 2025. Beginning in 2026, and annually thereafter, we will report progress in our ESG Report, including actions taken and results achieved. While we are committed to maintaining these targets until each objective is met, we recognise that adjustments may be necessary in response to significant changes in our operating context or industry standards.
Throughout this process, Alamos remains committed to accountability, transparency, and continuous improvement as we advance the sustainability of our operations.
Objectives and Targets
Objective:
Health & Safety
Achieve a zero-harm workplace by proactively identifying and mitigating risks, enhancing safety culture, and continuously improving health and safety performance across all Alamos sites.
Targets:
Short-Term
New target
Review current safety performance and culture to identify root causes of incidents, evaluate leadership and employee engagement, and drive measurable improvements across all sites.
Medium-Term
New target
Implement ISO 45001-aligned health and safety management systems across all operations, and complete internal audits to validate full conformance to Alamos’ Health & Safety standards at each operation.
Long-Term
New target
Achieve a total recordable injury frequency rate (TRIFR) of less than 1.0, reflecting a reduction of approximately 50% in injuries compared to Alamos’ 2024 baseline year.
Objective:
Indigenous Peoples
Have a reputation of being a trusted and respectful partner.
Targets:
Short-Term
New target
Publish an Indigenous Peoples Policy and develop a cultural awareness program unique to Alamos and deliver this program to senior management.
Medium-Term
New target
Finalize formal participation agreements with directly affected Indigenous communities at all operations. Publish Alamos’ Reconciliation Action Plan.
Long-Term
New target
Organise annual site visits with one or more of our Indigenous community partners and senior management at each of our operations.
Objective:
Community Development
Enhance the well-being of our people and communities through our activities, as measured using socio-economic indicators and well-being indicators.
Targets:
Short-Term
New target
Implement Alamos’ Social Baseline Standard at all operations.
Medium-Term
New target
Implement Alamos’ Community Development Standard at all operations, with strategic community development programs derived from risks and opportunities identified during socio-economic baseline studies.
Long-Term
New target
Develop and implement a roadmap to enhance the well-being of our people by identifying key focus areas, establishing initiatives, and fostering a supportive workplace.
Objective:
Emissions Reduction
Pursue meaningful reductions in Scope 1 and 2 GHG emission intensity by 2030 (using a 2020/2021 baseline), while limiting the growth of absolute emissions through efficiency improvements and low-carbon energy solutions.
Targets:
Short-Term
New target
Update Alamos’ emission reduction target and roadmap.
Medium-Term
New target
Complete (or have budgeted plans for) the implementation of the identified emission reduction opportunities to achieve Alamos’ reduction target.
Long-Term
New target
Establish an emission offset strategy and/or develop an emission offset project.
Objective:
Cyanide Code Adoption
Improve the management of cyanide by attaining International Cyanide Management Code certification at all operations.
Targets:
Short-Term
New target
Complete updated gap assessments against the ICMI Mining Operations Verification Protocol at all operations.
Medium-Term
New target
Become a signatory to the Cyanide Code and formally commit to compliance within three years.
Long-Term
New target
Achieve Cyanide Code certification at all operations.
Objective:
Water Management
Reduce diverted freshwater intake by increasing water recycling rates and the use of reclaimed water at all operations.
Targets:
Short-Term
New target
Develop site-specific Operational Water Management Plans.
Medium-Term
New target
Build freshwater reduction targets into annual site plans.
Long-Term
New target
Develop a 5-year water conservation strategy and associated targets for each operation.
Objective:
Conformance with Standards
Demonstrate commitment to responsible mining by adhering to relevant sustainability standards and disclosure requirements (e.g., Consolidated Mining Standard, CSDS 1, CSDS 2).
Targets:
Short-Term
New target
Complete an internal gap assessment to the final Consolidated Mining Standard (when launched) and develop a workplan to address gaps, including the update of Alamos’ sustainability standards.
Medium-Term
New target
Publish Alamos’ inaugural financial report satisfying disclosure requirements for sustainability-related financial information per the CSDS 1 and CSDS 2 standards.
Long-Term
New target
Receive independent verification at all Operations of compliance to “Good Practice” requirements under all applicable performance areas of the Consolidated Mining Standard.