- Rafaella Resources (RFR) has signed a memorandum of understanding (MOU) with Spanish renewable energy developer Capital Energy Read
- RFR signed the MOU with hopes for Capital Energy to supply green energy for its Spain based Santa Comba tungsten and tin project.
- According to the announcement, using green energy would be a step in the right direction in the company’s objective of hosting a zero-carbon mine
- As part of RFR’s ESG framework, 21 core metrics and disclosures were created by the World Economic Forum (WEF).
- Rafaella shares closed the day grey, trading at seven cents a share
Rafaella Resources (RFR) has signed a memorandum of understanding (MOU) with Spanish renewable energy developer Capital Energy Read after it adopted an Environmental, Social and Governance (ESG) framework.
RFR signed the non-binding MOU with hopes for Capital Energy to supply green energy for its Spain based Santa Comba tungsten and tin project.
As part of the agreement, the companies have agreed to jointly investigate the use of renewable energy at the site.
According to the announcement, using green energy would be a step in the right direction in the company’s objective of hosting a zero-carbon mine.
It is worth noting that Santa Comba already has outsourced wind turbines and is surrounded by eucalyptus plantations – a future source for biodiesel.
As part of RFR’s ESG framework, 21 core metrics and disclosures were created by the World Economic Forum (WEF).
Rafaella has also incorporated the Socialsuit technology platform ‘ESG Go’ for disclosing and monitoring the ESG metrics. All disclosures related to ESG information through WEF’s online universal framework.
“The company is committed to adopting the highest ESG standards with the aim of minimising its environmental footprint. Socialsuite will assist us in monitoring and reporting against this objective,” Managing Director Steven Turner said.
“Where possible Rafaella will work with local authorities to ensure that investment benefits
the local communities through employment and procurement of services.
“The signing of the MOU with Capital Energy allies Rafaella with a well-respected developer of Spanish renewable projects and we look forward to building that relationship as the Santa Comba project advances.”
Rafaella shares closed the day grey, trading at seven cents a share.