Torex Gold Resources Inc. has released its 2021 Responsible Gold Mining Report (the “Report”), which is the Company’s most comprehensive Environmental, Social and Governance (“ESG”) disclosure to date. The Report can be found on the Company’s website at www.torexgold.com.
The Report highlights the Company’s new organizational purpose statement: ‘To transform finite mineral resources into lasting prosperity by positively impacting all the lives we touch.’ It also confirms the Company’s commitment to fully implement the new Global Industry Standard on Tailings Management (GISTM).
Jody Kuzenko, President & CEO of Torex, stated:
“I am pleased that this Report marks the first public disclosure of our organizational purpose statement, which was developed after much careful thought to choose the words that embody what we stand for as a Company. From our earliest days, we built our operation in Guerrero with a view to running a business that was certainly about generating profit – but also about minimizing our environmental footprint, building trust and partnership with local communities, creating prosperity for those who share stakes in Torex and fostering lasting economic development through community infrastructure and improvement initiatives.
“With the development of Media Luna and growth ambitions ahead of us, we will increase the positive impact we are making in Mexico and beyond and continue to demonstrate what responsible gold mining looks like.”
Jennifer Hooper, Chair of the Safety and Corporate Social Responsibility Committee of the Torex Board of Directors, stated:
“At Torex, we have truly embedded ESG governance throughout our organization, from the Board of Directors and our Executive Team, through to operations management and our front-line employees. Operating responsibly is at the core of who we are, and a condition of employment at all levels of the business. We recognize that responsible and sustainable mining starts with the Board of Directors, and we consistently look for ways to incorporate evolving ESG best practices to continuously improve our performance and to sustain our reputation as an industry leader when it comes to mining responsibly.”
2021 RESPONSIBLE GOLD MINING REPORT HIGHLIGHTS
- Industry-leading safety performance, with only one lost time injury in 2021 and a lost time injury frequency as at the end of 2021 of 0.14 per million hours worked for our employees and contractors;
- Zero reportable environmental incidents;
- Continued implementation of our Community Development Agreements (CODECOPs) in partnership with 11 host communities, with $4.1M directly invested in community development and infrastructure projects;
- 99% employees from Mexico with 61% from Guerrero State;
- 90% of procurement spend in Mexico; approximately $75 million in procurement within Guerrero State;
- Completed Year 1 implementation of the requirements of the World Gold Council Responsible Gold Mining Principles (RGMPs), including a public RGMPs Progress Report that was independently assured;
- Became a signatory to the International Cyanide Management Code (ICMC), and formally adopted the Global Industry Standard on Tailings Management (GISTM);
- Received the ESR® 2022 Distinction from the Mexican Center for Philanthropy (CEMEFI) and the Alliance for Corporate Social Responsibility in Mexico (AliaRSE) for the fourth consecutive year, for our public and voluntary commitment to implement socially responsible management at our operations in Mexico;
- Recognized by major Canadian and international media for our ESG performance, including receipt of the 2021 Mining Magazine Safety Award for safety excellence, and selection as an honouree on the Globe and Mail “Women Lead Here” list in recognition of the high proportion of women on our executive team;
- Improved significantly on scoring from key ESG ratings agencies from 2020 to 2021 due to ongoing improvements on disclosure, including ISS, MSCI, Sustainalytics, Refinitiv and S&P Global as well as improvement on our 2021 CDP Climate Change Questionnaire.
The Company’s 2021 Responsible Gold Mining Report was prepared in accordance with the Global Reporting Initiative (“GRI”) Standards (Core option) and the Sustainability Accounting Standards Board (“SASB”) Metals and Mining Sustainability Accounting Standard. It also includes energy and climate-related data aligned with the Phase 1 recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).