Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to announce the publishing of its annual Sustainability Report for Fiscal 2023, detailing the Company's environmental, social, and governance ("ESG") performance, management, and targets.
"We remain firmly committed to the integration of Environmental, Social, and Governance (ESG) principles into our strategic planning, operations, and management," said Dr. Rui Feng, Chairman and CEO of Silvercorp.
"By prioritizing responsible mining, Silvercorp ensures that its operations not only create value for stakeholders but also have a positive impact on the lives of those connected to its activities. As we progress towards our Fiscal 2024 goals and targets, Silvercorp's core values and purpose will guide each decision, ensuring that sustainability and responsibility remain at the forefront of our endeavors."
Highlights of Silvercorp's Fiscal 2023 Sustainability Report
- ESG Management: 100% of our operating mines were awarded with ISO certifications in environmental, energy, and occupational health and safety management.
- Environment: Recycled 84.85% of water used in our operations, increasing our water recycling rate by 5.63% compared to our 2020 levels.
- Health and Safety: There were no work-related fatalities; reduced LTIR from 0.55 to 0.25, down for the fourth consecutive year.
- Community: Invested in our local communities, supporting education, economic development, public health, and infrastructure.
- Governance: Adopted four new ESG-related policies at the Board level, including the Environmental Protection Policy, Community Relations Policy, Human Rights Policy, and Occupational Health and Safety Policy.
The Company's report has been prepared in accordance with the Core Accordance option of the 2021 GRI Standards of the Global Sustainability Standard Board (GSSB), the China Corporate Social Responsibility Reporting Guidelines 5.0 by the Chinese Academy of Social Sciences (CASS-ESG5.0), the SDG Compass by the United Nations Global Compact (UNGC), the Global Industry Standard on Tailings Management by the International Council on Mining and Metals (ICMM), the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, and the Sustainability Accounting Standards Board (SASB) standard on Metals and Mining.