ESG

'Future of opportunity' with ESG in the spotlight, says Yamana's Marrone

Yamana releases 12th sustainability report

Staff reporter
 Yamana Gold’s El Peñón operations in Chile

Yamana Gold’s El Peñón operations in Chile

In the company's 2019 Material Issues Report, its 12th sustainability report, Marrone said it was an issue Yamana had always prioritised.

"We see a future of opportunity as the global investment community shines a brighter light on issues like climate change, tailings management and social license," he said.

The company reported zero fatalities in 2019 and president and CEO Daniel Racine singled out its El Penon mine in Chile for a special mention, for completing its second straight year without a lost-time injury.

He said Yamana had observed a 19.5% improvement in social license across its operations over the past year, through its social license to operate index, a series of quarterly community perception surveys stared in 2018.

The company also noted 2019 marked the fifth year without a significant environmental incident at any of its operations.

Its overall water and energy consumption decreased in 2019, which Racine said was mainly attributable to the sale of its high-tonnage Chapada mine in July 2019.

Fresh water withdrawal decreased 50% compared with 2018, he said.

Marrone said Yamana would this year begin implementing both the World Gold Council's Responsible Gold Mining Principles as well as the Mining Association of Canada's Towards Sustainable Mining initiative.

It also intended to include targets on greenhouse gas emissions in 2020.

The Americas-focused company revised its 2020 production guidance in April from 990,000 ounces gold-equivalent to 890,000oz due to COVID-19.

It sold its royalty interests in May for US$65 million in cash and shares to the new Nomad Royalty Company, as part of plans to optimise its portfolio.

Yamana shares (TSX: YRI) have risen from C$2.84 a year ago to peak at $7.85 in May.

They closed yesterday at $6.65, to capitalise it at $6.3 billion (US$4.6 billion).

 

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