Appian regards social, environmental and governance standards as crucial elements within all investment opportunities and portfolio companies
From resource development through to the achievement of run rate production and beyond, Avanco has consistently maintained its emphasis on the importance of outstanding ESG performance.
On 27 March 2018, OZ Minerals announced a friendly takeover offer for 100% of Avanco at a valuation of A$418 million. The transaction closed on 9 July 2018.
Avanco continues to maintain their exemplary health and safety record with no Lost Time Injuries (“LTIs”) incurred to date, highlighting the Company’s outstanding and industry-leading safety culture. In addition to the responsible work practices demonstrated by all Avanco employees, the Company has conducted health and safety training programs for hundreds of personnel to ensure that all safety procedures are adapted to fit the evolving work environment at the Antas North operation.
Avanco has successfully developed and maintained a positive relationship with the local community members through the implementation of numerous social programs and the integration of community members into the Antas North labour force.
Members of the local community have been consistently prioritized for employment and service contracts with over 95% of employees, contractors and service providers at Antas North residing within the Para State of Brazil. Beyond providing direct employment opportunities, Avanco seeks to support local business and supplier selecting a local catering firm to provide over 7,500 meals per month to all employees based at the Antas North operation. Additionally, local labourers are preferentially selected to complete ad hoc site work, such as fencing activities.
From an environmental perspective, Avanco continues to employ industry best practices and a proactive rehabilitation program. To ensure consistent tier-one environmental performance and compliance, Avanco constantly monitors all aspects of the Antas North operation, including a rigorous tailings management policy drawing regularly on independent consultants. Avanco remains dedicated to returning the environment to a better state than the pre-mining conditions of the Antas North property. Operating with this goal in mind, the team continues to successfully re-vegetate waste dumps as the material stacking is completed across various designated dumping regions. Many of the indigenous trees and plants utilized to rehabilitate the dumps were sourced from the Antas North nursery, established and donated by the Avanco team in an effort to give back to local communities. Aside from offering numerous employment opportunities to local community members, the nursery is also used to provide training programs to local farmers.