Mining operations rely on various energy sources and can be associated with significant carbon emissions. Guided by our Environmental and Sustainability policies, we seek to understand our carbon footprint and to responsibly manage our energy use, while also identifying, adapting to, and mitigating the risks that climate change may pose to our operations.
Since 2022, we have been working to align with the Task Force on Climate-Related Financial Disclosures (TCFD) Recommendations. This is our fourth ESG report to track our progress towards alignment with the TCFD’s four key areas: governance, strategy, risk management, and metrics and targets.
Governance
Wesdome’s Board of Directors has ultimate oversight of our governance of climate-change related risks, opportunities, and strategies. Detailed information on our governance of these topics is available on our website.
Wesdome relies on electricity from the provincial electrical grids in Ontario and Québec. In Ontario, approximately 84% of electricity in 2025 was produced from low-carbon emitting sources such as nuclear, hydroelectricity, wind, and solar power.1 In Québec, approximately 99% of electricity produced in 2025 came from renewable low-carbon emitting sources, including hydroelectricity and wind.2 At both sites, we maintain diesel-fueled back-up generators in the event of an emergency or electrical failure.
We seek to reduce our energy consumption where possible. Eagle River has a full-time Energy Manager on site, and Kiena has an Energy and Emissions Management Committee. Both the Committee and Eagle River’s Energy Manager are responsible for identifying initiatives to reduce and/or optimize energy consumption within our operations. In 2025, Kiena upgraded the Energy and Emissions Management Committee’s structure to improve efficiency.
Strategy
We understand that both physical and transition climate-related risks could adversely affect our operations, and we seek to better understand these risks and to develop plans to address them.3 We conducted physical climate risk assessments at both Eagle River and Kiena in 2022. Details of those assessments, including scenarios and time horizons, are provided on our website. Following these assessments, we developed mitigation actions for short and medium term risks to our operations, and we review progress against these actions on an annual basis.
In 2025, we drafted a Climate Change Standard, which is set to be completed in 2026. The Standard will further formalize our processes for considering and integrating climate-related impacts, including both our impacts on climate change and the potential risks climate change poses to our operations. The Standard focuses on corporate climate change management, site-level climate change management, and on setting site-level performance targets and reporting on energy use, greenhouse gas (GHG) emissions, potential physical climate impacts, and adaptation measures.
Risk Management
Our climate-related risk management process is integrated within Wesdome’s overall risk management framework. Further details on our climate-related risk management approach are available on our website.
While no new climate risk assessments were completed during the reporting period, Eagle River’s management team held a risk session to discuss and better understand what activities at the site might be influenced by climate change.
Metrics and Targets
The climate-related metrics that we track include total GHG emissions and emissions intensity per ounce produced, water use (consumed, stored, withdrawn, discharged), energy consumption by fuel type (diesel, natural gas, propane, gasoline, and electricity), and energy intensity per tonne milled. Further details are provided on our website.
We measure our Scope 1 and Scope 2 GHG emissions and report them in accordance with the Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (Revised Edition), but do not yet estimate our indirect emissions within our value chain (Scope 3). Eagle River and Kiena are both covered by emissions-limiting regulations and our GHG emissions are reported to regulatory agencies in compliance with applicable provincial regulations.
1 CBC. Ontario Electricity Produced with Rising Percentage of Greenhouse-Gas-Emitting Power. May 2025.
2 Hydro-Quebec. 2026.
3 Physical climate-related risks include the potential for damage and disruption to people, assets, operations, and ecosystems arising from the acute and chronic physical impacts of climate change. Transition climate-related risks are the potential financial and operational impacts on organizations that arise from the transition to a low‑greenhouse‑gas economy.
Purchased two battery-electric underground mine trucks in 2025 to help reduce emissions at Kiena.
Annual Performance Summary
When compared to previous years, both Scope 1 and Scope 2 GHG emissions increased at Eagle River in 2025, primarily due to increased underground mine activity. Specifically, Scope 1 emissions rose from 13,481 tCO₂e in 2024 to 16,138 tCO₂e in 2025, linked to higher diesel consumption associated with higher production, expanded mobile equipment usage, increased underground activity, and additional pumping and water management requirements. Scope 2 emissions stood at 4,518 tCO₂e, up from 3,542 tCO₂e in 2024.
Energy consumption at Eagle River also increased, from 488,826 GJ in 2024 to 555,390 GJ in 2025. This increase was primarily linked to an increase in production.
At Kiena, total GHG emissions in 2025 were primarily driven by Scope 1 emissions, which totalled 10,126 tCO₂e, an increase from 7,497 tCO₂e in 2024, reflecting the continued reliance on diesel-powered mobile and stationary equipment on surface and underground.4 Scope 2 emissions remained comparatively low at 139 tCO₂e, consistent with Québec’s low-emissions electrical grid.
Energy consumption at Kiena increased from 323,508 GJ in 2024 to 405,134 GJ in 2025, primarily driven by an increase in mining and processing activity, with increased diesel use for mobile equipment, higher electricity demand to support mill throughput, and an increase in natural gas consumption associated with site heating requirements.
Although the majority of the electricity used at our mine sites comes from renewable sources, our renewable energy consumption percentage is recorded as zero since we have no renewable power purchase agreements in place and do not purchase from a Green e-Energy Certified utility or supplier program.
During the year, we undertook several energy-related projects at both Eagle River and Kiena. Eagle River continues to participate in the Northern Energy Advantage Program (NEAP) that provides rebates and incentives for energy reduction, and undertook an Optimization of Compression project. As part of the project, which is currently in Phase 1, we installed instruments both on the surface and underground to detect leaks in compression lines and to develop a baseline of pressure and flow data, with the goal of achieving a 10% reduction in kWh used by our compressors. As part of Phase 2 in 2026, we will develop action plans based on data collected. We additionally undertook a dewatering System Optimization project to upgrade our underground sumps with larger and more energy efficient sumps. In 2026, we will advance plans for twinning Eagle River’s Hydro One line, which is required for further production growth at the site.
At Kiena, we purchased two battery-powered Minetruck MT42 SG trucks from Epiroc to add to our underground fleet. These trucks, which are the first of this type to be deployed in Québec, are reducing our GHG emissions by replacing diesel equipment that is being retired from the fleet.
4 GHG emissions for the years 2021 to 2024 for Kiena have been recalculated as a result, Scope 1 emissions have been revised as follows: for 2021, no change; for 2022, from 6,108 tCO₂e to 5,771 tCO₂e; for 2023, from 4,109 tCO₂e to 6,765 tCO₂e; for 2024, from 3,632 tCO₂e to 7,497 tCO₂e. Scope 2 emissions have been revised as follows; for 2022, from 64 tCO₂e to 48 tCO₂e; for 2022, no change; for 2023, no change; for 2024, no change.
† Unit: per ounce produced. GHG emissions for the years 2021-2024 for Kiena have been recalculated, which has changed GHG emissions for Wesdome for that period. As a result, GHG emissions per ounce produced have been revised as follows: for 2021, no change; for 2022, no change; for 2023, from 0.16 to 0.18 (+13%); and for 2024, from 0.12 to 0.14 (+17%).’
Performance
Indicators:
SASB: EM-MM-110a.1, EM-MM-110a.2 (partial), EM-MM-130a.1
GRI: 2-4, 3-3, 305-1, 305-4, 305-7
