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Strong Sustainability Performance sees Perseus Mining deliver US$385 million to Ivorian and Ghanaian Economies in 2020

Published by APO Africa Newsroom on Wed, 05 May 2021

Perseus Mining Limited (TSX & ASX: PRU) (www.PerseusMining.com) has released its CY20 Sustainable Development Report. The report details the companys progress over the past 12 months in delivering on its commitment to responsible mining operations in Cte dIvoire and Ghana, including an overall economic benefit to host countries totalling about USD$385M.As part of its longstanding commitment to the communities in which it operates, Perseus reported increasing community investment by 71% to around US$1.9M in CY20, funding critical health and education infrastructure projects for local communities. Additionally, Perseus announced it had increased its proportion of local procurement from 66% in CY19 to 78% in CY20, totalling US$287M, and further expanded its employment of local populations, with 96% of its current workforce local to Ghana and Cte dIvoire.Jeff Quartermaine, Managing Director & CEO of Perseus said:Sustainability is deeply rooted in Perseuss culture and operations and has had a large part to play in our resilience during this challenging year. We believe that responsible gold mining can play a key role in sustainable development, and that investing in our employees and our communities to create enduring social value will remain a guiding force in our growth path and future business operations. I am proud of my teams effective response to the pandemic which successfully safeguarded our operations as well as our people, enabling us to deliver our Yaour mine in Cte dIvoire this year ahead of schedule. Our approach to sustainability has continued to mature as our business has grown, and in the coming years we look forward to expanding our ESG offering and delivering greater impact across Cte dIvoire and Ghana.Jessica Volich, Group Sustainability Manager at Perseus said:Despite the challenges the past year has brought, Perseuss sustainability agenda has continued to strengthen and evolve alongside its expanding operations. Our wide-ranging efforts and engagement with our local communities and host governments has enabled us to create shared sustainable value for all our stakeholders. We are committed to strengthening these relationships in the coming years as we endeavour to generate socio-economic value for our people, communities and host countries.In CY20, Perseus has enhanced its disclosure on sustainability-related risks and opportunities by aligning with the key reporting frameworks used by our stakeholders. These include the World Gold Council Responsible Gold Mining Principles, Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and the Task Force on Climate Related Financial Disclosures (TCFD).Highlights of the report include:Economic and Social ContributionTotal economic contribution of US$385M in CY20 to Ghana and Cte dIvoireIncreased community investment by 71% (from CY19) to around US$1.9M in CY20, funding critical health and education infrastructure projects for local communities and providing COVID-19 supportCreation of new health clinics near Sissingu to improve health outcomes for the ~27,000 residents of the local communitiesIncreased in-country employment, with over 96% of total employees from host countriesLocal procurement spend of $287M, an increase from 66% in CY19 to 78% in CY20Held 587 consultations with local communitiesPaid >US$69M in taxes, royalties, and duties to GovernmentHealth & Safety performance:Maintained record of zero workplace fatalities and reduced injuriesImplementation of comprehensive measures and protocols to prevent introduction and spread of COVID-19 and maintain business continuityEnvironmental stewardship:Re-use of 12,495,163 KL of waterWater intensity of 7.46M3/oz gold produced, benchmarked ahead of peersEnhanced tailings disclosures in line with the Investor Mining and Tailings Safety Initiative, and completed independent audits of all our Tailings Storage Facilities (TSFs)GovernanceWorked with independent sustainability risk experts, KPMG, to refresh sustainability materiality analysis and conduct deeper analysis of sustainability risks and opportunities, and start development of a 3-year sustainability roadmapAnnounced appointment of a new Director by the end of FY21 to enhance sustainability skills of the BoardRelease of the first Modern Slavery Statement to address potential human rights risks in Perseus global supply chainFuture ambitionsEstablish a 3-year sustainability roadmap, and enhance social value and sustainability risk management through updates to the Risk Management Framework and policy standardsEstablish the Yaour Community Development Fund in FY21During FY21 and FY22, Perseus will complete and commence implementation of our biodiversity plan at Yaour in Cte dIvoire mine site in and establish our site nursery, to be staffed by local community membersExplore strategic opportunities for community partnerships in Cte dIvoire and GhanaAchieve full alignment with the World Gold Council Responsible Gold Mining Principles by FY23Distributed by APO Group on behalf of Perseus Mining Ltd..For more information, please contact:Claire HallCorporate CommunicationsPerseus Mining LimitedPhone: +61 414 558 202Email: Claire.Hall@perseusmining.comAbout Perseus Mining:Perseus Mining Limited is a rapidly growing African gold producer, developer and explorer, operating three mines in West Africa with the aim of annual production of 500,000 ounces by 2022. Perseuss first mine, the Edikan Gold Mine in Ghana, has produced around 1.8million ounces of gold since 2011 and based on current ore reserves, the company expects to recover a further 1.2 million ounces. Perseus became a multi-mine, multi-jurisdiction gold producer in January 2018 when it opened the Sissingu Gold Mine in Cte dIvoire and has since completed its third mine and begun commercial operations at its third mineYaourlocated in central Cte dIvoire.To read more about Perseuss work in West Africa, please visit: www.PerseusMining.comMedia filesDownload logo
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