Santacruz Silver Releases 2023 Sustainability Report for Bolivian Operations
Santacruz Silver Releases 2023 Sustainability
Report for Bolivian Operations
VANCOUVER, BC
,
Oct. 30, 2024
/CNW/ -
Santacruz Silver Mining Ltd.
(TSXV: SCZ) (OTCQB:
SCZMF) (FSE: 1SZ) ("Santacruz" or "the Company") is pleased to announce the release of the 2023
Sustainability Report for its wholly-owned Bolivian subsidiary, Grupo Minero Sinchi Wayra ("Sinchi
Wayra"), highlighting significant progress in Environmental, Social and Governance ("ESG") initiatives
across the Company's Bolivian operations.
Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented: "Sinchi Wayra's 2023
Sustainability Report captures our commitment to responsible mining in
Bolivia
and shares our
approach to the ESG issues that are vital to both to our business and stakeholders. Over the past
few years, we have invested in Bolivian community initiatives—particularly in education and local
infrastructure—to ensure our operations support long-term community growth. We've implemented
sustainable water management, reduced greenhouse gas emissions, and strengthened tailings
management. These efforts are driving year-on-year improvements across our environmental and
social metrics. Our commitment to these initiatives has not only driven our goals forward this year
but will also continue to benefit our communities in the years to come."
It is important to highlight that this report, aligned with the corporate values of Santacruz and Sinchi
Wayra ("Santacruz/Sinchi Wayra")—based on ethics, transparency, and responsibility—complies
with the international standards of the IFRS and has been prepared in reference to the 2021 GRI
standards.
Key 2023 ESG Highlights
Environmental:
The operations in
Bolivia
reported an investment of over
7.1 million dollars
in
environmental management, which focused on several key areas:
Water Management:
The Company established sustainable practices, which focused on
reducing water usage, recycling, and ensuring clean water access for surrounding communities.
Emission Reduction:
Santacruz worked on lowering greenhouse gas emissions through
efficiency measures and has adopted cleaner technologies at its Bolivian mines.
Waste Management:
The Company complies with the guidelines of the Canadian Dam
Association (CDA) and the "Global Industry Standard on Tailings Management" issued by the
UNEP (United Nations Environment Programme) and the ICMM (International Council on Mining
and Metals).
Social:
Over the past five years, Santacruz/Sinchi Wayra invested more than
$7.3 million
in local
community support, with a strong focus on education as a foundation for a better future. The
Company supported various community initiatives:
Education Initiative:
Santacruz implemented an initiative that included teacher payments,
school breakfasts, student scholarships, infrastructure improvements, transportation, and
support and promotion of educational programs.
Environmental Sustainability:
The Company focused on afforestation, conservation of fauna
with fodder for camelids, water diversion projects, and basic sanitation initiatives.
Culture and Traditions:
Santacruz promoted social activities that encourage community
customs and habits and sponsored social and sports events.
Community Support:
The Company addressed community infrastructure requirements and
provided tailored support.
Productive Development:
Santacruz executed community-proposed projects, trained the
workforce, promoted the creation of microenterprises, and enhanced infrastructure to
strengthen productive capabilities.
Focus on Families and Youth:
Recognizing that children and families are essential to building
a stronger society, Santacruz prioritized educational projects, aiming to create lasting benefits
for future generations.
Respecting Indigenous Rights:
The Company made efforts to respect the rights and
traditions of Indigenous communities near its mining operations. Santacruz has also worked with
these communities to ensure their concerns were addressed and culturally significant sites were
protected.
Governance:
Safety Standards and Monitoring:
Santacruz maintained rigorous safety standards for its
employees and contractors. In addition, the Company regularly reported on safety performance
and has adopted best practices to reduce accidents.
Stakeholder Engagement:
Santacruz held regular dialogues with local communities,
stakeholders, and government representatives to maintain transparency about its operations
and impacts.
Ethical Sourcing and Anti-Corruption:
The Company continued to adhere to global standards
for ethical sourcing, including compliance with anti-corruption laws and promoting responsible
sourcing of minerals.
Sustainable Development Goals (SDGs):
The Bolivian operations at Sinchi Wayra are
committed to sustainable development and have adhered to the UN Global Compact, aligning
their practices with the SDGs while leading the governance table in
Bolivia
. To reaffirm its
commitment to this universal call to action to end poverty, protect the planet, and reduce
inequalities, the Company has implemented initiatives that support these goals.
Human Rights Commitments:
Santacruz is committed to respecting and guaranteeing the
dignity and human rights of its employees, contractors, and the communities where it operates.
It promotes a fair, safe, and inclusive work environment in compliance with current labor laws,
prohibiting discrimination and harassment. The Company upholds workers' rights to freedom of
association and collective bargaining while actively combating child labor, forced labor, and
human trafficking in its supply chain. Additionally, it ensures fair hiring and remuneration
practices, recognizes the rights of communities to maintain their culture and traditions, and
applies the Voluntary Principles on Security and Human Rights by training its security personnel
to reject violence.
2024 ESG Priorities
This year, the Company has built on its 2023 progress by continuing sustainable practices,
community investment, and responsible resource management in
Bolivia
. The Company remains
focused on supporting local education, youth programs, and family initiatives, while upholding
standards in ethical sourcing, safety, and stakeholder engagement.
The full 2023 Sustainability Report for Sinchi Wayra is available on Santacruz's website at
www.santacruzsilver.com
.
About Santacruz Silver Mining Ltd.
Santacruz Silver
is engaged in the operation, acquisition, exploration, and development of mineral
properties in
Latin America
. The Bolivian operations are comprised of the Bolivar, Porco and the
Caballo Blanco Group, which consists of the Tres Amigos, Reserva and Colquechaquita mines. The
Soracaya exploration project and
San Lucas
ore sourcing and trading business are also in
Bolivia
.
The
Zimapan
mine is in
Mexico
.
'signed'
Arturo Préstamo Elizondo,
Executive Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward looking information
This news release includes certain statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities laws. Forward-looking statements
relate to future events or future performance and reflect the expectations or beliefs of management
of the Company regarding future events. Generally, forward-looking statements and information
can be identified by the use of forward-looking terminology such as "intends", "expects" or
"anticipates", or variations of such words and phrases or statements that certain actions, events or
results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and
these statements, referred to herein as "forward
looking statements", are not historical facts, are
made as of the date of this news release and include without limitation, statements regarding future
quarterly production results being in line with past quarterly production results, mining and
processing rates at Caballo Blanco being consistent for the rest of the year, the improved
dewatering system upgrades providing dry working areas for the rest of the year at the Bolivar
mine, the reconfigured mine plan to enable better productivity at the Porco mine, mining in areas
with similar silver grades mined in the first half of 2024 for the remainder of the year at the Caballo
Blanco Group of mines.
These forward
looking statements involve numerous risks and uncertainties and actual results
might differ materially from results suggested in any forward-looking statements. These risks and
uncertainties include, among other things, risks that future quarterly production result will be in line
with past quarterly production results, mining and processing rates at Caballo Blanco will be
consistent for the rest of the year, the improved dewatering system upgrades will provide dry
working areas for the rest of the year at the Bolivar mine, the reconfigured mine plan will enable
better productivity at the Porco mine, mining will occur in areas with similar silver grades mined in
the first half of 2024 for the remainder of the year at the Caballo Blanco Group of mines, risks
related to changes in general economic, business and political conditions, including changes in the
financial markets, changes in applicable laws, and compliance with extensive government
regulation, as well as those risk factors discussed or referred to in the Company's disclosure
documents filed with the securities regulatory authorities in certain provinces of
Canada
and
available at
www.sedarplus.ca
.
In making the forward-looking statements in this news release, the Company has applied several
material assumptions, including without limitation, the assumption that future quarterly production
results will be in line with past quarterly production results, mining and processing rates at Caballo
Blanco being will be consistent for the rest of the year, the improved dewatering system upgrades
providing dry working areas for the rest of the year at the Bolivar mine, the reconfigured mine plan
to enabling better productivity at the Porco mine, mining in areas with similar silver grades mined
in in the first half of 2024 for the remainder of the year at the Caballo Blanco Group of mines.
There can be no assurance that any forward-looking information will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements.
Accordingly, the reader should not place any undue reliance on forward-looking information or
statements. The Company undertakes no obligation to update forward-looking information or
statements, other than as required by applicable law.
SOURCE
Santacruz Silver Mining Ltd.
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For further information:
For further information please contact: Arturo Préstamo, Santacruz Silver
Mining Ltd., Email: [email protected], Telephone: +52 81 83 785707; Andrés Bedregal,
Santacruz Silver Mining Ltd., Email: [email protected], Telephone: +591 22444849
CO: Santacruz Silver Mining Ltd.
CNW 07:00e 30-OCT-24