Torex Gold Gets Greener, Sets Ambitious Targets for 2021

Torex Gold achieved excellent performance in its environmental, social and governance areas last year, according to its recently released 2020 Responsible Gold Mining Report, which also outlined the company's new goals and ambitious targets for 2021 that will see Torex become even greener.

Torex is the second-largest gold producer in the country and owns 29,000ha at the Morelos Gold Property in the Guerrero Gold Belt. Its assets include the El Limón Guajes Mining Complex (ELG), which began commercial production in 2016, and the Media Luna deposit, currently in an advanced stage of development with a feasibility study in process. The company has significant opportunities on both projects, having only explored 25 percent of the property and which already has promising exploration targets in its unexplored area.

Last year, Torex delivered a successful performance despite the pandemic and the temporary suspension of mining activities in Mexico. The company ended the year with more than 430,000oz of gold produced, which is the second-highest annual production in its history. But for Jody Kuzenko, President and CEO of Torex Gold, the biggest point of pride was the company's safety performance, as it achieved 10 million hours without a lost-time injury.

Regarding its environmental performance, Torex reported zero environmental incidents, 100 percent compliance with environmental laws and regulations and zero water discharges at site. In addition, the engineering studies for its 8.5MW solar plant have been completed, 5 million fingerlings have been released in local waterways, 65,745 native trees have been planted and more than 105ha of land have been reforested. The company also became a member of the World Gold Council and adopted the council’s Responsible Gold Mining Principles. It also signed the International Cyanide Management Code (ICMC), which is a global and best-practice standard for cyanide management.

The company’s health and safety community practices were also recognized by IMSS for having secure and robust COVID-19 protocols for the control of contagions between workers and communities. In addition, it continued the implementation of Community Development Agreements (CODECOPs) with 11 local communities and invested US$4 million in community projects. Last year, the company had a total of 964 direct employees and 1,675 contactors; 99 percent of its operators were Mexican and 60 percent of its operations employees were from Guerrero.

In governance matters, the company was recognized for the second year in a row by national Canadian newspaper Globe and Mail’s “Women Lead Here,” given that 30 percent of its board of directors and 40 percent in its executive team are women. Kuzenko was named one of the Top 100 Global Inspirational Women in Mining by Women in Mining UK, which selected her from among 600 nominees from 60 countries.

In the report, Torex also announced its goals and objectives for 2021, which includes a lost-time injury frequency of less than 1.0, 100 percent compliance with commitments associated with its CODECOPs, zero reported spills, continuing to improve its energy and climate change management strategy and implementing safety and leadership plans that include modules of its SafeStart®, Supervisor Excellence Program and Leadership, and Enhancement Program. The company will also monitor its human rights performance with the goal of having zero complaints and it will continue to implement the Human Rights Management System, which is aligned with the requirements of the Responsible Gold Mining Principles.

The Company recently launched a new website, which includes an ESG Reporting Portal, to further improve transparency on Torex’s ESG performance

“As we continue to navigate through the pandemic in 2021 and I look to the next 10 years of our company’s evolution, there is much work to be done,” said Kuzenko. “We are at a special moment in time with a confluence of critical challenges: emerging from the pandemic, rebuilding the economy, tackling climate change, addressing the root causes of the inexplicable persistence of gender disparity, talent scarcities, and decreasing tolerance of the industry’s social and environmental failures. This confluence of challenges calls for the mining industry to reinvent itself. It calls for thoughtful and decisive leadership. It calls for leadership with purpose. Torex will be at the fore.”