First Majestic Silver Corp. announced today to stakeholders and shareholders an update to the Company’s first Environmental, Social, Governance and Sustainability Report (the “ESG Report”) published in September 2020.
One of the most critical issues faced by all companies worldwide over the past year has been the COVID-19 pandemic. The global impact triggered an unprecedented call for collaboration and tested First Majestic’s capabilities to support and take care of its workforce and community members within its areas of influence.
“First Majestic’s commitment to safety, environment, and communities is a core principle of the Company, and it’s continually ingrained in our operations,” said Keith Neumeyer, President and CEO. “Since we began operating in Mexico in 2003, we have always had a socially responsible approach to mining and its responsibilities as the primary employer within our local communities. Our best practices are committed to working safely, and with integrity, while also contributing to local sustainable development.”
Prior to the Mexican Government deeming mining as an essential business on May 18, 2020, First Majestic had already acted quickly by adopting several sanitary protocols to slow down or prevent the spread of the virus throughout the communities and operations where the Company is active. Some examples of protocols and programs which were implemented include: the purchase of personal protective equipment (“PPE”) to protect employees and contractors, paying full salaries, control testing measures, donations of oxygen tanks, medicines, buses, ambulances, and most notably, building an advanced polymerase chain reaction (“PCR”) laboratory facility in the city of Durango and in partnership with Wheaton Precious Metals. During the pandemic First Majestic dedicated special priority to food security and support for the most vulnerable community members, including elders and people with physical disabilities.
Site Improvements and Community Impacts
Maintaining and improving good relationships and collaboration with our host communities is essential for companies to achieve their sustainability targets. A few of the efforts from 2020 to positively impact local communities included investing in critical infrastructure such as microwave and radio links and optic fiber to connect remote areas, as well as critical infrastructure for electronic banking services, dependable electric power, financial support for local students, construction of a Cultural centre, and over 319 kilometres of vital local roads costing approximately US$400,000.
Minimizing the Environmental Footprint
The La Encantada mine was successfully converted from diesel to Liquid Natural Gas (“LNG”) power over five years ago which has significantly reduced its carbon footprint. This effort has continued at the Company’s Santa Elena operation. First Majestic reuses up to 85% of the water in the processing system by using dry stack tailings disposal and storage systems. The Company also protects flora and fauna including the black bear population at the La Encantada and a restoration and reforestation project at La Guitarra near Valle de Bravo.
ABOUT THE COMPANY
First Majestic is a publicly traded mining company focused on silver production in Mexico and is pursuing the development of its existing mineral property assets. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine. Production from these mines is projected to be between 12.5 to 13.9 million silver ounces or 20.6 to 22.9 million silver equivalent ounces in 2021.
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