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.