Defined Tasks:

Wenco has been undergoing research into ESG and the potential impact on its product line and customers.

Initial Phase 1research focused on the overall ESG landscape, influencers and started to examine likely future standards. Phase 2 focused on defining an ESG dashboard that could be delivered by Wenco’s digital platform, focusing on three levels: enterprise, site, and equipment. The majority of the effort focused on equipment dashboards and integration with Wenco technologies (e.g. FMS).

Phase 3 will look at the larger picture that will influence mining companies and the supply chain this industry belongs to. It will divide the research into two areas

1. Industry-leading influencers from the customer-demand side and other organizational influencers. For mining, these would include leading buyers such as Tesla, BMW, Tiffany and others (details listed below) as well as United Nations and other bodies. The research will examine what metrics they use to evaluate and influence suppliers along their supply chain in order to determine what operational reporting mining companies should offer in monthly/quarterly and annual reporting related to ESG.

2. The Financial market approach that includes banks, investors, auditors and standards bodies that will create the new “sustainability and social responsibility bottom line” mirrors the approach for financial profit reporting, as well as the technologies (e.g. blockchain) that may be used in such reporting.

Expected outcomes:

We break the task down into two areas, each area will be assigned to a student/team, respectively.

Area 1: ESG management across supply chains.

Student(s) assigned to this section are expected to choose six leading companies (three per 80-hour report duration) to carry out research across the supply chain, to figure out:

1. What are the ESG requirements/matrices those companies exert on their suppliers, including mining suppliers?

2. What monthly reports can be created by an ESG management system to help those companies? (Wenco will then determine if any of this data can be captured in near-real-time or by shifts to flow up to aggregated dashboards and reports)

Potential supply chains to look at (minimum three per 80-hour session):

a. Jewelry: Jewelers (Tiffany, Pandora, Chow Tai Fook, Cartier, etc.) --->Refineries (Johnson Matthey, HNH, etc.)-àmining companies (Barrick, Kinross, Newmont, etc.)

b. Electronics: Consumer electronics (Apple, Sony, Nintendo, etc.) ---->Microelectronics (TSMC, NVIDIA, Samsung, Intel, STMicroelectronics, etc.) -àelectronic materials (Tanaka, Heraeus, etc.) àRefineriesàMining companies

c. Electric vehicles: Carmakers (Tesla, BMW, etc.)àBattery makers (Panasonic, AESC, PEVE LG, CATL, etc.)àRefineriesàMining Companies

d. Other TBD by students, including organizations such as United Nations, other leading industries.

Student(s) are also highly encouraged to look at other relevant supply chains/leading companies.

Area 2: ESG management through financial instruments.

1. What roles financial institutions are playing in ESG? Which will be the most influential in setting ESG standards and compelling mining and other suppliers to report/comply?

2. What kind of instruments are they using to regulate operating companies?

- For example, “Green Loans” are quite popular recently.

3. Are they developing in-house solutions to appraise the ESG performance, or cooperating with 3rd parties? Which of those 3rd parties can be our potential M&A target/partners?

Potential 3rd parties:

a. Sustainalytics

b. Refinitiv

c. Envirosuite

d. K2Fly

e. Minetell

Student(s) are also highly encouraged to find and research other targets.

4. How can the data they collect be validated? (e.g., using blockchain? A company called Minespider claimed they have blockchain technology for "green certification")

Executive VP of Corporate Strategy and a Strategic Marketing Analyst will be assigned to mentor students on a weekly basis until the end of the project. Both the EVP Corporate Strategy and the Analyst will review and comment on the draft and final reports.