Perseus Mining Limited (TSX & ASX: PRU) (www.PerseusMining.com) has released its CY20 Sustainable Development Report. The report details the company’s progress over the past 12 months in delivering on its commitment to responsible mining operations in Côte d’Ivoire and Ghana, including an overall economic benefit to host countries totalling about USD$385M.
As part of its longstanding commitment to the communities in which it operates, Perseus reported increasing community investment by 71% to around US$1.9M in CY20, funding critical health and education infrastructure projects for local communities. Additionally, Perseus announced it had increased its proportion of local procurement from 66% in CY19 to 78% in CY20, totalling US$287M, and further expanded its employment of local populations, with 96% of its current workforce local to Ghana and Côte d’Ivoire.
Jeff Quartermaine, Managing Director & CEO of Perseus said:
“Sustainability is deeply rooted in Perseus’s culture and operations and has had a large part to play in our resilience during this challenging year. We believe that responsible gold mining can play a key role in sustainable development, and that investing in our employees and our communities to create enduring social value will remain a guiding force in our growth path and future business operations. I am proud of my team’s effective response to the pandemic which successfully safeguarded our operations as well as our people, enabling us to deliver our Yaouré mine in Côte d’Ivoire this year ahead of schedule. Our approach to sustainability has continued to mature as our business has grown, and in the coming years we look forward to expanding our ESG offering and delivering greater impact across Côte d’Ivoire and Ghana.”
Jessica Volich, Group Sustainability Manager at Perseus said:
“Despite the challenges the past year has brought, Perseus’s sustainability agenda has continued to strengthen and evolve alongside its expanding operations. Our wide-ranging efforts and engagement with our local communities and host governments has enabled us to create shared sustainable value for all our stakeholders. We are committed to strengthening these relationships in the coming years as we endeavour to generate socio-economic value for our people, communities and host countries.”
In CY20, Perseus has enhanced its disclosure on sustainability-related risks and opportunities by aligning with the key reporting frameworks used by our stakeholders. These include the World Gold Council Responsible Gold Mining Principles, Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and the Task Force on Climate Related Financial Disclosures (TCFD).
Highlights of the report include:
Economic and Social Contribution
- Total economic contribution of US$385M in CY20 to Ghana and Côte d’Ivoire
- Increased community investment by 71% (from CY19) to around US$1.9M in CY20, funding critical health and education infrastructure projects for local communities and providing COVID-19 support
- Creation of new health clinics near Sissingué to improve health outcomes for the ~27,000 residents of the local communities
- Increased in-country employment, with over 96% of total employees from host countries
- Local procurement spend of $287M, an increase from 66% in CY19 to 78% in CY20
- Held 587 consultations with local communities
- Paid >US$69M in taxes, royalties, and duties to Government
Health & Safety performance:
- Maintained record of zero workplace fatalities and reduced injuries
- Implementation of comprehensive measures and protocols to prevent introduction and spread of COVID-19 and maintain business continuity
Environmental stewardship:
- Re-use of 12,495,163 KL of water
- Water intensity of 7.46M3/oz gold produced, benchmarked ahead of peers
- Enhanced tailings disclosures in line with the Investor Mining and Tailings Safety Initiative, and completed independent audits of all our Tailings Storage Facilities (TSFs)
Governance
- Worked with independent sustainability risk experts, KPMG, to refresh sustainability materiality analysis and conduct deeper analysis of sustainability risks and opportunities, and start development of a 3-year sustainability roadmap
- Announced appointment of a new Director by the end of FY21 to enhance sustainability skills of the Board
- Release of the first Modern Slavery Statement to address potential human rights risks in Perseus’ global supply chain
Future ambitions
- Establish a 3-year sustainability roadmap, and enhance social value and sustainability risk management through updates to the Risk Management Framework and policy standards
- Establish the Yaouré Community Development Fund in FY21
- During FY21 and FY22, Perseus will complete and commence implementation of our biodiversity plan at Yaouré in Côte d’Ivoire mine site in and establish our site nursery, to be staffed by local community members
- Explore strategic opportunities for community partnerships in Côte d’Ivoire and Ghana
- Achieve full alignment with the World Gold Council Responsible Gold Mining Principles by FY23
