MAG Silver Announces Inaugural Sustainability Report
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MAG Silver Corp. October 4, 2022
For Immediate Release NR#22-11
MAG SILVER ANNOUNCES INAUGURAL SUSTAINABILITY REPORT
Vancouver, B.C. MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG”, “MAG Silver”, or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/mag-silver-corp/) is pleased to announce the publication of its inaugural Sustainability Report (the “Report”), which underscores MAG’s fundamental commitment to transparency with its stakeholders while providing a comprehensive overview of the Company's ESG commitments, practices, and performance for the 2021 year. To view or download a copy of the Report, please see the ESG section of the MAG Silver website at https://magsilver.com/esg/reports/.
“The publication of our inaugural Sustainability Report marks an important evolutionary milestone for the Company, demonstrating how our long-standing proactive corporate commitment to sustainability, respect, transparency and communication with our stakeholders has been formalized into an on-going ESG framework for managing and measuring our existing exploration and development programs,” stated George Paspalas, MAG’s President and CEO.
2021 Sustainability Report Highlights:
- The health and safety of our workforce will remain our top priority. We are pleased to report:
- Zero fatalities at the Juanicipio Project and MAG Silver’s exploration projects.
- The Juanicipio Project has a Lost Time Injury Frequency Rate (one million hours) of 10.08 (employees and mine contractors; excluding construction contractors).
- Over 51,000 hours were dedicated to safety training in 2021 at the Juanicipio Project.
- Risk Management system reviewed and updated in 2021 and 2022.
- Zero significant environmental incidents at the Juanicipio Project and MAG’s exploration projects.
- A freshwater use ratio of 4% and a renewable power ratio of 84% at the Juanicipio Project while in the construction phase.
- In 2021, MAG Silver benchmarked current Climate-related risk and opportunities performance with the recommendations of the Task Force on Climate-related Financial Disclosures.
- MAG’s 2021 commitment to increase Board and senior management diversity means that currently 38% of MAG’s Board and 40% of MAG’s employees are female.
- MAG’s Human Rights Policy and Diversity, Equity and Inclusion Policy were updated and approved, complementing and enhancing pre-existing commitments.
- Initial materiality assessments conducted in 2020 were revisited and updated to include the key material aspects from the Juanicipio Project.
About MAG Silver Corp. (www.magsilver.com )
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