Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI)
is pleased to announce that it has published its Climate Change
Position Statement, which articulates the Company’s approach to
climate change along with its climate-related commitments. The
statement can be found on the Company’s website.
Jorge A. Ganoza, President and CEO of Fortuna,
commented, “The question is no longer whether climate change is a
reality or if the transition to net zero emissions will occur. The
real question is how to mobilize our resources to successfully
participate in this collective effort to reduce greenhouse gas
emissions and ensure the sustainable performance of our
organization.” Mr. Ganoza added, “We look forward to the
implementation of our 2022 Action Plan, an important step in
Fortuna's climate change strategy.”
Fortuna recognizes that climate change is a
major global challenge that could have significant impacts on its
operations, host communities, the resources used in production and
the economy and society in general. Climate change is a systemic
risk with the potential to affect mine infrastructure and
operations, the regulatory frameworks under which the Company
operates and the demand for the metals produced. It is an
increasingly important issue for Fortuna’s stakeholders, including
those who are seeking to understand the impact of climate change
initiatives within the companies in their investment
portfolios.
Fortuna believes that the mining sector has a
key role to play in reducing global greenhouse gas (GHG) emissions,
as well as in supporting the transition to a lower carbon economy
by supplying critical minerals and metals to advance low emission
technologies and solutions.
Climate Change Priorities
Fortuna is committed to analyzing the risks and
opportunities of climate change in its business activities,
integrating climate change factors into its long-term strategic
planning and developing short-term tactical climate change action
plans. After conducting a Climate Change Materiality Assessment,
the Company’s approach to climate change management will focus on
three key pillars that have the greatest potential to influence the
Company's value:
- Reduce GHG emissions by promoting
resource efficiency and increasing the use of renewable energy
sources.
- Build resilience to the physical
risks of climate change at our operations and projects.
- Continuously improve the
performance of our governance and climate change action plans based
on climate change science, regulatory and voluntary frameworks and
international standards.
Future Climate Change Work
In recognition that the development of a
comprehensive and credible climate change strategy is an ongoing
journey, the Company has developed a multi-year climate change
strategy implementation roadmap which focuses on addressing gaps
between existing practices and climate change best practices. Work
to be conducted during 2022 includes:
- Formalizing climate-related
governance processes and internal reporting on climate change
factors.
- Formalizing climate-related
metrics.
- Conducting the required analysis to
enable the Company to set a credible GHG emissions reduction
target, site-level energy audits, identification and prioritization
of GHG emission reduction opportunities and associated pathways and
internal capacity building.
- Evaluating opportunities for the
strategic and controlled use of carbon offsets to complement our
climate change actions plans.
Fortuna’s 2021 Sustainability Report to be
published in the second quarter will provide additional details on
the work the Company undertook in 2021 on climate change, its
climate change performance and future priorities. This disclosure
will be aligned with the recommendations of the Task Force on
Climate-related Financial Disclosure (TCFD Recommendations) and the
Sustainability Accounting Standards Board (SASB).
About Fortuna Silver Mines
Inc.
Fortuna Silver Mines Inc. is a Canadian precious
metals mining company with four operating mines in Argentina,
Burkina Faso, Mexico and Peru, and a fifth mine under construction
in Côte d'Ivoire. Sustainability is integral to all our operations
and relationships. We produce gold and silver and generate shared
value over the long-term for our stakeholders through efficient
production, environmental protection, and social responsibility.
For more information, please visit our website.
ON BEHALF OF THE BOARD
Jorge A. GanozaPresident, CEO, and
DirectorFortuna Silver Mines Inc.
Trading symbols: NYSE: FSM | TSX: FVI
Investor Relations: Carlos Baca |
info@fortunasilver.com
Forward-looking Statements
This news release contains forward-looking
statements which constitute "forward-looking information" within
the meaning of applicable Canadian securities legislation and
"forward-looking statements" within the meaning of the "safe
harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995 (collectively, "Forward-looking
Statements"). All statements included herein, other than statements
of historical fact, are Forward-looking Statements and are subject
to a variety of known and unknown risks and uncertainties which
could cause actual events or results to differ materially from
those reflected in the Forward-looking Statements. The
Forward-looking Statements in this news release include, without
limitation, statements about the Company's plans for its mines and
mineral properties; the continued demand for the core minerals and
metals that the Company produces; the Company’s ability to create
stakeholder value; plans and ability to reduce the carbon footprint
of the Company’s operations; the ability to promote resource
efficiency and to increase the use of renewable energy sources; the
ability to continuously improve the performance of the Company’s
governance and climate change action plans; conducting the required
analysis to enable the Company to set GHG emissions reductions
targets; the Company's business strategy, plans and outlook; the
future financial or operating performance of the Company; and
anticipated approvals and other matters. Often, but not always,
these Forward-looking Statements can be identified by the use of
words such as "estimated", “expected”, “anticipated”, "potential",
"open", "future", "assumed", "projected", "used", "detailed", "has
been", "gain", "planned", "reflecting", "will", "containing",
"remaining", "to be", or statements that events, "could" or
"should" occur or be achieved and similar expressions, including
negative variations.
Forward-looking Statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any results, performance or achievements
expressed or implied by the Forward-looking Statements. Such
uncertainties and factors include, among others, our ability to
achieve our climate change goals and the impacts on our business;
the availability of applicable technology on reasonable terms;
changes in general economic conditions and financial markets; the
impact of the COVID-19 pandemic on the Company’s mining operations
and construction activities; the risks relating to a global
pandemic, including the COVID-19 pandemic, as well as risks
associated with war or other geo-political hostilities, such as the
Ukrainian – Russian conflict, any of which could continue to cause
a disruption in global economic activity; the risks associated with
the completion of the Roxgold Acquisition, including the ability of
the Company to successfully consolidate functions, integrate
operations, procedures and personnel; adverse changes in prices for
gold, silver and other metals; the ability of the Company to obtain
an extension of the San Jose environmental impact authorization
("EIA"), including the Company's success in challenging an alleged
typographical error in the San Jose EIA received by the Company in
December 2021 and in obtaining a permanent injunction or equivalent
court protection to allow the continued operation of the San Jose
mine pending the approval of an extension to the San Jose EIA;
fluctuation in currencies and foreign exchange rates; inflation;
the imposition of capital controls in countries in which the
Company operates; any extension of the currency controls in
Argentina; changes in the prices of key supplies; technological and
operational hazards in Fortuna’s mining and mine development
activities; risks inherent in mineral exploration; uncertainties
inherent in the estimation of mineral reserves, mineral resources,
and metal recoveries; changes to current estimates of mineral
reserves and resources; changes to production and cost estimates;
changes in the position of regulatory authorities with respect to
the granting of approvals or permits; governmental and other
approvals; changes in government, political unrest or instability
in countries where Fortuna is active; labor relations issues; as
well as those factors discussed under “Risk Factors” in the
Company's Annual Information Form. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in Forward-looking Statements, there may be other factors
that cause actions, events or results to differ from those
anticipated, estimated or intended.
Forward-looking Statements contained herein are
based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to actual climate-change
consequences; changes in climate change laws and regulations;
adequate technology on reasonable terms; that the Company’s
activities will be conducted in accordance with the Company’s
public statements and stated goals; that there will be no material
adverse change affecting the Company, its properties or changes to
production estimates (which assume accuracy of projected ore grade,
mining rates, recovery timing, and recovery rate estimates and may
be impacted by unscheduled maintenance, labor and contractor
availability and other operating or technical difficulties); the
duration and impacts of COVID-19 and other geo-political
uncertainties on the Company’s production, workforce, business,
operations and financial condition; the expected trends in mineral
prices and currency exchange rates; that the Company will obtain
succeed in challenging the alleged typographical error in the
December 2021 extension to the San Jose EIA; that all required
approvals and permits will be obtained for the Company’s business
and operations on acceptable terms; that there will be no
significant disruptions affecting the Company's operations and such
other assumptions as set out herein. Forward-looking Statements are
made as of the date hereof and the Company disclaims any obligation
to update any Forward-looking Statements, whether as a result of
new information, future events or results or otherwise, except as
required by law. There can be no assurance that these
Forward-looking Statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, investors should not
place undue reliance on Forward-looking Statements.
Fortuna Silver Mines (TSX:FVI)
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