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Recognising the uniqueness of Madagascar鈥檚 biodiversity, and in line with the aspirations of our purpose, we have been engaging with the Malagasy government and Asity Madagascar, in the development of a programme of nature-based solutions to halt and reverse the annual 1.6% loss of the Tsitongambarika (TGK) rainforest over the next 30 years. TGK is a lowland forest in the north of Fort Dauphin with such impressive flora and fauna that in 2001, using an internationally agreed set of criteria, the global NGO BirdLife International, designated the forest as an 鈥淚mportant Bird Area鈥�. This recognition puts it in the company of world wonders such as the Snow Hill Island, off the coast of the Antarctic Peninsula, or the Thane Creek flamingo sanctuary in India.

While it is a privilege to have access to such rich beauty and biodiversity, we recognise the fact that we are short term guests and with that comes a responsibility to honor and protect these unique ecosystems and the long-term future of our host nations.

Our work on nature-based solutions is new, but it forms an integral part of our decarbonisation journey. And having successfully piloted a small-scale nature-based solution in Madagascar, we have seen its potential as a mechanism to put our purpose in to practice in a way that benefits both our host communities and the environment.

With the involvement of 2,300 community members, over 640,000 high carbon capture saplings were planted across 500 hectares of land. Of the spend required to achieve this, over 90% of it went directly to the community members. So, while on one hand we are securing high-quality carbon credits, on the other hand, we are helping to address community needs, while restoring precious forest land.

We are also exploring similar solutions elsewhere in Africa like Guinea, and in South Africa, where we are establishing partnerships to deliver nature-based solutions along the Kwa-Zulu Natal north coast near our Richards Bay Minerals (RBM) operation, which is also progressing its decarbonisation journey.

In October 2022, RBM announced a partnership with French energy company, Voltalia, to supply the operation with renewable energy from 2024. Under the agreement, a 148MW solar power plant (known as the Bolobedu Solar PV Project) will be built in Limpopo and the energy produced will be 鈥渨heeled鈥� through the national grid to supply RBM's smelting and processing facilities in KwaZulu-Natal.

South Africa鈥檚 geographical and ecological diversity means that by placing the project in Limpopo, we can benefit from longer and more intense periods of sunshine than what we experience in KwaZulu-Natal, where we are located.

The Bolobedu Solar Project is an exciting partnership. Last month, construction of the solar plant commenced and over the coming months this will be ramped up to peak construction period estimated to create almost 700 jobs.

Once the plant becomes operational, it will have a permanent workforce of around 50 people and will cut RBM's greenhouse gas emissions by at least 10%. Put differently, in terms of emissions reduction, the impact of this solar plant will be the equivalent of removing 50,000 cars from South Africa鈥檚 roads.

Significant work is being done by my colleagues at RBM who, in addition to solar, are progressing work to source 200MW of wind energy, and developing the partnerships that we require to have RBM fully powered by renewables by 2040.

When speaking about RBM, many people think of it simply as a mine. But, in reality, RBM is a large mining and smelting complex with a hive of beneficiation activity, each with enormous energy demands. Significantly shifting our energy sources to renewables at RBM will drastically reduce our scope 2 emissions and free up power on the national grid for use in many South African homes.

As we work to decarbonise our business in Africa and globally, we will come up against challenges. While we may not always have all the answers, we will keep searching. And together with our partners in government, industry, civil society and in our host communities, we are committed to 鈥渇inding better ways鈥� to positively shape the sector鈥檚 future.