Environment

Protecting and supporting the environment that Serabi operates in is a key consideration for all operational decisions.

Responsible environmental stewardship with:

• Small footprint from underground mines with no conventional tailing’s dams
• Zero activity in primary rain forest
• Continuous monitoring of air and water quality
• Maximising recycling of water and waste materials
• Ongoing remediation of sites degraded by artisanal mining activity
• Monitoring of biodiversity and on-site nursery for cultivation of indigenous plants and trees
• 52% of waste recycled or repurposed

Greenhouse Gas Emissions remain well below industry average with Scope 1+2 emissions of 0.53t CO2 equivalent per ounce of gold produced in 2024, compared with 0.42t CO2 e/oz in 2023 an increase of 27% year-on-year. This is a result of the increased activity at the Coringa Mine and due to the need to increase the use of diesel generators at the Palito mine during 2024 as a result of the unstable power supply from the grid at Palito.

Environmental Stewardship

Operating within the Amazon basin brings additional responsibility on Serabi as well as added scrutiny. The Company welcomes
this scrutiny and always seeks to minimise its impact on the environment and maintains a policy of undertaking zero activity
within primary rainforest.

Continuous monitoring of any impacts the Company may have, ensures adherence to the required standards and allows the Company to identify any issues that may arise and address them. Sixty-seven environmental monitoring stations are established across each of the Group’s operating sites, measuring the quality of air and surface, underground and potable water, whilst measuring noise and vibration levels and controlling the risk of effluent leakage.

In addition to the monitoring described above, the Company undertakes annual surveys of biodiversity at its operating sites. This is both to monitor the general health of biodiversity but also identify any endangered or threatened species. With tight controls on suppression of vegetation and protection of wildlife, Serabi’s operating sites are typically more densely forested than the surrounding area which is frequently cleared for farming. As such, the operating sites become havens for wildlife with a broad spectrum of mammals, birds, amphibians and reptiles identified.

Allocation of environmental monitoring stations

Serabi has a nursery in which it grows native trees for rehabilitating deforested areas, including areas licensed for suppression by the Company.

During 2024, a programme of reforestation around the Palito Complex has been undertaken with the planting of 331 native trees grown in Serabi’s own nursery. Restoration of exploration drill sites has been ongoing throughout the year using hydro-seeding of native grasses on the impacted areas.

Serabi aims to maximise the amount of process plant water it recycles to minimise its freshwater demand. In total, 46% of process water was recycled during 2024, up from 24% during 2023 following modifications in the process plant. The overall water usage, however, increased by almost 49% from 270,000m3 in 2023 to 403,013m3 in 2024.

In addition, the Company has a policy of recycling as much waste material as possible, achieving a level of 65% during the year compared with 73% in 2023.