Environmental Social Governance
Our Commitment:
Skyharbour Resources Ltd. (the “Company” or Skyharbour”) is committed to sound Environmental, Social, and Governance (ESG) practices. We strongly believe that these are integral to creating and increasing the long-term value of the Company and its various uranium projects.
We look to set the highest standards for environmental, health, and safety not only for our people, operations, and Company contractors but also for the surrounding locations and communities where we conduct our corporate business activities.
Environmental Practices and Policies:
Nuclear Power and Uranium as the Fuel:
One uranium pellet creates as much energy as one ton of coal, 120 gallons of oil or 17,000 cubic feet of natural gas.
Every year, nuclear-generated electricity saves our atmosphere from more than 470 million metric tons of carbon dioxide emissions that would otherwise come from fossil fuels.
Nuclear power and hydropower form the backbone of low-carbon electricity generation. Together, they provide three-quarters of global low-carbon generation. Over the past 50 years, the use of nuclear power has reduced CO2 emissions by over 60 gigatonnes – nearly two years’ worth of global energy-related emissions. Global demand for electricity is set to grow 50% by 2040 and nuclear energy will play an integral role in meeting this demand. The WNA reports that there are 436 nuclear reactors operable in over 32 countries. These reactors can generate approx. 400 gigawatts of electricity and supply approx. 10% of the world's electrical requirements. There are 60 nuclear reactors under construction in 15 countries with the principal drivers of this expansion being China (21 reactors under construction), the Middle East, Russia and India. Furthermore, the WNA reports that there are over 400 reactors that are either ordered, planned or proposed.
Canada has been taking a large stride in the nuclear resurgence. Driven by clean energy goals and surging electricity demand, Ontario has announced it wants to add a third nuclear generating station to Bruce Power near Kincardine, which, if built, would be the first new large-scale nuclear plant construction in Canada in three decades.
In addition to the new large scale plant, the Ontario government is working with Ontario Power Generation (OPG) to commence planning and licensing for three additional small modular reactors (SMRs), for a total of four SMRs at the Darlington nuclear site. Once deployed, these four units would produce a total 1,200 megawatts (MW) of electricity, equivalent to powering 1.2 million homes, helping to meet increasing demand from electrification and fuel the province’s strong economic growth.
More information on the importance of nuclear energy can be found here.
Northern Saskatchewan and Uranium Development:
Skyharbour has been focusing its exploration efforts on uranium for almost a decade in Saskatchewan’s northern Athabasca Basin, with a project portfolio of 24 projects covering over 518,00 hectares. The Athabasca Basin is not only renowned for its high-grade uranium deposits that average 10-20 times the average global grade, but it is also a safe and friendly mining jurisdiction. The region benefits from Canada's steady political climate, backed by well-established laws and regulations governing the mining industry. In 2022, the Fraser Institute ranked Saskatchewan as the best mining district in Canada and the third-best mining jurisdiction globally.
Skyharbour’s Environmental Initiatives and Policies:
Although we are a junior mining exploration company with a relatively small environmental impact, we strive to ensure that the local environment is minimally impacted by our activities. Skyharbour implements the Best Management Practices as outlined in the Mineral Exploration Guidelines for Saskatchewan developed by the Saskatchewan Mineral Exploration and Government Advisory Committee.
Reclamation Work:
Led by Dave Billard and Christine McKechnie, the geological team is focused on rehabilitating the Moore Uranium camp from prior work programs. A massive effort was made to properly discard spent drill rods and drilling debris from programs conducted before Skyharbour. Our team takes tremendous pride in land reclamation after drill programs are completed.
Social Practices and Policies:
Safety:
The health and safety of our workers and the public is of the utmost importance to Skyharbour. Management has a strong safety record that it maintains by using systematic programs to identify and mitigate risk as much as possible. We have a strong emphasis on safety culture and have safety procedures in place at our uranium projects in case of fires, spills, or medical emergencies.
Our Workers and Management:
We provide our workers with a nurturing environment that allows them to become the most skilled and flexible workers possible while maintaining a stable workforce. We comply with all laws in the jurisdictions where we operate and ensure support, respect, and protection for the human rights of everyone in our organization. We share the values reflected in international proclamations about human rights, such as the UN Universal Declaration of Human rights and the International Labour Organization treaties.
Exploration Agreement with English River First Nation:
In a news release dated February 9th, 2023, Skyharbour announced it had signed an Exploration Agreement with English River First Nation (“ERFN”) for the Russell Lake and Moore Uranium Projects in respect of Skyharbour’s exploration and evaluation activities within the traditional territory of ERFN. The Agreement establishes a framework for a cooperative and mutually beneficial relationship between Skyharbour and ERFN whereby Skyharbour’s exploration and evaluation activities at Russell Lake and Moore are consented to by ERFN and Skyharbour agrees to support ERFN’s interests in relation to community development and benefits, environmental protection and monitoring, as well as sustainable and predictable consultation and engagement processes. Through this cooperative approach, the parties seek to build a strong and positive foundation for Skyharbour to proceed with its exploration and evaluation activities, in the traditional territory of ERFN, in a manner that is informed by and respects the rights and interests of ERFN.
Corporate Governance Practices and Policies:
Our corporate governance policies at Skyharbour are designed to ensure ethical and responsible decision-making at all levels of our organization, reflecting our commitment to transparency, accountability, and sustainable business practices.
Corporate Governance Objectives:
The objective of our corporate governance practices and policies is to set out an effective, transparent system of guidelines establishing the accountability for the supervising and managing of the affairs of Skyharbour. It is management’s belief that through the implementation of these practices, the overall stewardship of the Company will be affected in a positive way, by strengthening the effectiveness of its Board of Directors and by empowering the independent action of its special committees.
Board Composition:
The Board of Directors of Skyharbour has responsibility for the stewardship of the Company including responsibility for strategic planning, identification of the principal risks to the Company’s business, and the integrity of the Company’s internal control and management information systems. The Board currently has six members. The Board will reconsider its actual size from time to time. The Board believes that the majority of its members should be independent. On an annual basis, the Board will determine which of its directors is independent based on the rules of applicable securities regulators.
Responsibility with Shareholders:
Skyharbour, as a Canadian public company, follows all the rules and protocols outlined by the TMX Group: TSX Venture Exchange Regulatory Policies and Procedures, IIROC, and BCSC. We believe in transparency through up-to-date company information, proper disclosure and proper dissemination of material news.
Responsibility in the Field:
Skyharbour is a longstanding member of the Saskatchewan Mining Association (SMA) and attends meetings on a regular basis. We follow the rules and best practices outlined in Mineral Exploration Best Management Practices (BMP): Download the Handbook.