Image credits: Torex Gold Resources
News Article

Torex Gold Committed to ESG: Joins World Gold Council

By Alejandro Ehrenberg | Fri, 12/04/2020 - 12:39

The World Gold Council announced that Torex Gold Resources has joined its board of members. 

Torex Gold is an intermediate gold producer based in Canada, engaged in the exploration, development and operation of its Morelos Gold Property in the Guerrero Gold Belt in Mexico. The company’s principal assets are the El Limon Guajes mining complex and the Media Luna deposit, an early stage development project.

According to data released by Mexico’s Mining Chamber (CAMIMEX), El Limon Guajes was the country’s second-largest gold producing unit in 2019, churning out 454,800 ounces. CAMIMEX highlights that in 2019 Guerrero was the second-largest gold producer in Mexico, registering a record yearly output growth of 19.4 percent, partly thanks to Torex Gold’s performance.

“I am delighted to welcome Torex Gold to the World Gold Council. They play an important role in the production and exploration of gold in Mexico and have exciting and ambitious growth plans. I look forward to working with them,” Randy Smallwood, Chair of the World Gold Council, said in a press release.

“The World Gold Council has taken the lead in reinventing our industry by demanding that member companies adhere to the highest standards of ethics and corporate responsibility. We look forward to collaborating with the Council and its membership to demonstrate the important role gold companies play in making a positive and lasting difference in our host communities and society as a whole,” said Jody Kuzenko, President and CEO of Torex Gold.

In an interview with MBN, Kuzenko shared specific instances of how Torex Gold prioritizes sustainability topics. El Limon Guajes employs filtered tailings, which significantly reduces the operational and legacy risks relative to operations that employ conventional wet tailings. “When the solution leaves our process plant, it travels through a series of filters that squeeze the moisture from the tailings, reducing the moisture content to around 17 percent. Tailings are conveyed to the storage facility, spread out using mechanical equipment and further dried by the sun and wind. After a suitable period of natural drying, tailings are mechanically compacted into place, and the cycle repeats with the next layer of tailings placed above the previous layer. As further protection, a rock buttress has been established on the downhill side of the storage facility,” she explained. The process is carried out in a closed-loop system, so the extracted moisture can be reused in the process plant. “We do not discharge water, even when we have the permit for doing it. This makes El Limon Guajes virtually a zero-emission site with respect to water and air,” Kuzenko added.

The company also has a robust corporate culture that enhances employee safety. Fred Stanford, Torex Gold Board Member, told MBN that a distinct approach to management has resulted in the team recently (March, 2020) crossing a threshold of 5.5 million hours worked without injury lost time. “When we started Torex, the vision was to create an internal experience of the company that led to employees willingly giving their best, and an external experience of the company that led to communities, investors and stakeholders wanting the company to succeed. I believe that we have achieved this, and that has reconfirmed the belief that this is possible in a mining company. We have a very productive and committed team that clearly gives their best. This is evident in the production results, but also in the safety performance,” Stanford said.

Photo by:   Torex Gold Resources
Alejandro Ehrenberg Alejandro Ehrenberg Journalist and Industry Analyst