On Tuesday,
Avalon Advanced Materials Inc. (TSX: AVL, OTCQB: AVLNF, Forum) announced that it had engaged Morningstar company
Sustainalytics, to conduct an independent audit of its business practices and policies towards obtaining an Environmental, Social and Corporate Governance (ESG) Risk Rating License. Attaining an ESG Risk Rating allows a Company to provide better access to ESG investment capital, and the ability to gain commercial benefit from the rating externally with creditors, suppliers, and other stakeholders. The six-week audit and review process is expected to be completed by mid-December of this year.
Avalon’s Chief Executive Officer Don Bubar stated that the Company is on the forefront of sustainable best practices in mineral development, with a strong track record going back ten years, and a forward-thinking management team that makes sustainability a priority.
“Along with implementing risk and change management, Avalon integrates its sustainability objectives into its business planning, work activities and internal policies. We are pleased to be working with Sustainalytics to quantify our ESG performance, goals and opportunities for improvement. An ESG Risk Rating will be an asset to attract capital from the rapidly growing ESG investment community to advance our critical minerals projects to production.”
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This Canadian mineral development company recently completed provided investors with
an update on its flagship Separation Rapids Lithium Project situated approximately 70 km by road north of Kenora, Ontario. Since the beginning of the summer, metallurgical test work had been progressing on several fronts to reduce costs, improve recoveries, and optimize lithium product quality. Looking ahead, AVL intends to further assess opportunities in the market that would both serve the glass-ceramics market with its lithium mineral (petalite) product and the lithium battery materials market with its high purity lithium hydroxide product.
Avalon is also investigating collaborative opportunities to establish a lithium processing facility in Northwestern Ontario, given the provincial government’s interest in establishing new battery materials supply chains.
FULL DISCLOSURE: Avalon Advanced Materials Inc. is a client of Stockhouse Publishing.