Media Luna Invests in Equipment, Construction Works in Guerrero
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Media Luna Invests in Equipment, Construction Works in Guerrero

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Karin Dilge By Karin Dilge | Journalist and Industry Analyst - Tue, 12/06/2022 - 16:54

With an investment of MX$10.69 million (US$540,272), the mining company Media Luna, a subsidiary of Torex Gold, delivered new equipment and inaugurated infrastructure works to benefit five neighboring communities.

Faysal Rodríguez Valenzuela, Vice President, Torex Gold Mexico, reported that following the second edition of the program “Enhancing Our Neighborhood Together” in San Miguel and five other communities, construction works were finished and equipment was delivered. The efforts are part of a private initiative together with resources coming through the company’s Community Development Agreements (CODECOPs).

Torex Gold has been working this year to strengthen and enhance its ESG efforts and its reports have shown excellent performance in this matter. Responsible mining is the foundation of Torex's business philosophy; the company has said it is central to every decision it makes. Since arriving in Mexico, Torex, whose operations are located in a remote, marginalized area, has prioritized promoting a strong culture and creating favorable conditions to improve the lives of its workers and host communities.

Regarding social matters, the company achieved an industry-leading safety performance with a lost-time injury frequency (LTIF) of 0.14 per million hours worked. For the fourth consecutive year, Torex received the ESR 2022 distinction from the Mexican Center for Philanthropy and the Alliance for Corporate Social Responsibility in Mexico, and the company also received the 2021 Safety Award from Mining Magazine. The company successfully negotiated CODECOPs with 11 communities, directly invested US$4.1 million in community developments, spent US$74.7 million on purchases in Guerrero and reported that 99 percent of its employees were from Mexico, with 61 percent coming directly from Guerrero.

In San Miguel Vista Hermosa, a perimeter fence was built in a church, open theaters were concluded, as well as access and fences for playgrounds and multi-use courts were finished. Moreover, computer equipment and a truck to collect trash were donated. Kindergarten and elementary schools also received maintenance work. All these actions summed to MX$2.96 million (US$149,746) of investment. 

For the inhabitants of Puente Sur Balsas, Torex’s investment in projects summed to MX$2,529,761 (US$127,830), which was used for the rehabilitation of a water supply line and the reconstruction of the water storage tank, as well as other refurbishment works. 

In Mezcala, Torex invested MX$2.46 million (US$124,502). In Mazapa, investment rose to MX$1.57 million (US$79,786), and Tepehuaje received an MX$974,000 (MX$49,216) investment.

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