Sustainable development means meeting the needs of the present without compromising the ability of future generations to meet their own needs. More specifically, this entails the long-term conservation of the productive capacity of water resources, the earth and ecosystems, and minimising negative impacts on nature and human health.
Sustainable development can be divided into three areas:
- Economic sustainability — economising with human and material resources in the long term.
- Social sustainability — building a stable but dynamic society that is sustainable over the long term within which basic human needs are met.
- Environmental sustainability — economic growth adapted to what the environment can tolerate without leading to environmental destruction.
When Nordic Iron Ore plans the coming operations, these three sustainability aspects will be high priorities. Within financial sustainability, we will use efficient and modern mining methods and machines with the lowest possible energy consumption, meaning that Nordic Iron Ore will help save resources.
Within social sustainability, the company aims to contribute the development of the area around Ludvika. The first operation, the Blötberget mine, is expected to employ over 200 people. When the planned expansion of operations at Väsman and Håksberg are under way, the positive effects on the community will be even greater.
Our focus is on environmental sustainability. Several factors will be weighed in the planning prior to the start of production, such as electrical power instead of diesel and minimising emissions into waterways. Since mining occurs underground, no lasting open-cast damage is done to the landscape. Over time, the company intends to certify its operations in accordance with ISO 14001, and to use the environmental objectives of Dalarna as its beacon for environmental work.
Management of sustainability efforts
Nordic Iron Ore’s efforts to minimise damage to the natural environment and contribute to sustainable development are based on the policies and guidelines adopted by its Board of Directors. The principles of the UN Global Compact are an important framework for these efforts. Ultimate responsibility for Nordic Iron Ore’s sustainability efforts rests with the Board, while operational responsibility for monitoring targets and prioritised activities rests with the company’s management.