Gold Resource Issues 2022 ESG Report
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Gold Resource Issues 2022 ESG Report

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Fernando Mares By Fernando Mares | Journalist & Industry Analyst - Fri, 03/10/2023 - 17:42

The US-based silver and gold company Gold Resource Corporation issued its first Environmental, Social and Governance (ESG) report for 2022. The company highlights the important improvements to ensure the well-being of employees, communities and the environment.

Regarding governance, the company acknowledged the importance of having a diverse board of directors, which fosters different perspectives inside the company. Gold Resource mentioned that every worker must comply with its ethics code while the company works to provide a safe working environment.

To ensure a transparent operation, the company adopted the Foreign Corrupt Practices Act (FCPA). According to Gold Resource, the policy is designed for workers acting on behalf of the company to understand the legal and ethical issues that can arise while dealing with foreign officials. It applies to all directors, officers and employees, regardless of position, nationality or location, but also counts for independent contractors, consultants, vendors and any other third-party agents or representatives acting on the Gold Resource’s behalf. “We take a zero-tolerance approach to bribery and corruption,” reads the report. 

The company also launched a whistleblower policy that encourages workers of any level to report violations of the ethics code without fear of retaliation. 

Regarding environmental action, the company recognized its mining activities may affect the environment. Therefore, it is committed to reduce or mitigate this impact. The company samples rocks at the Don David Gold Mine in Mexico to determine the best way to process waste. Gold Resource did not register any significant incidents associated with waste and hazardous material management in 2022. “In Mexico, we have a hazardous waste management plan authorized by SEMARNAT that ensures that hazardous waste is properly managed from generation to final disposal,” the report states. 

The company is committed to hiring and training local talent when possible, providing competitive compensation, treating employees fairly and ensuring a non-discriminatory working environment. At its Mexican operations, the company employed 565 people in 2022, of which 11% are women, the same percentage in 2021. Unionized workers accounted for 58% of the total workforce.

Photo by:   Noah Buscher

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