Digbee Assessment Confirms Marimaca’s Strong ESG Position with Launch of New Initiatives
31 Mai 2022 - 01:00PM
Marimaca Copper Corp. (“Marimaca Copper” or the
“Company”) (TSX: MARI) is pleased to announce the
progression of various ESG initiatives in its commitment to
integrate ESG best practice into development activities.
Marimaca Copper has completed its first
independent ESG performance assessment via the Digbee ESG reporting
and assessment framework, to assist in its evaluation of ESG
performance and current positioning. The Digbee framework provides
a practical and forward-looking basis of assessment for junior
mining companies at various stages of project lifecycles across
several international and global standards, including those adopted
by the most recognised governing bodies including Sustainability
Accounting Standards Board, Global Reporting Initiative,
International Finance Corporation, Equator Principles Association,
and the World Gold Council. In addition, the assessment is
conducted by a team of internationally recognised, independent, ESG
experts with significant experience across the mining and resources
sector. The assessment identifies the Company’s achievements to
date and highlights opportunities to progress ESG performance as
part of the continuing development of its Marimaca Project.
Highlights:
- The
assessment provided an overall score of BB for the Company and the
Marimaca Project.
- The
assessment underlined the significant ESG credentials of the
Marimaca Project, in particular:
- The
geological characteristics of the Marimaca project mean that it can
be extracted and processed using simple, low cost and low ESG
impact methodologies
- The
location of the Marimaca project means that existing
infrastructure, including transportation, water (sea water) and
power can be easily accessed
- This is
complemented by the presence and availability of relevant mining
industry skills and robust Chilean mining industry
governance
- The current
and future land use in the project and surrounding area is viewed
as stable and low risk, given ownership by the Chilean
State
- In
addition, there are no resettlement requirements for the Marimaca
Project
- No tailings
storage facility is required, which significantly mitigates
hazardous risks
- The Project
aligns with the Antofagasta Regional Development Plan (8-year plan
issued in 2019)
- The
location of the Project site minimises the potential impact of
noise, dust and vibration on any local community
- The
assessment outlined that, at this stage, the Marimaca Project has
the potential to reach ‘AA’ through risk mitigation
- Marimaca
has established a strategic pathway for continued performance
improvements incorporating guidance from the
assessment
Marimaca Copper is already putting the findings
of the Digbee assessment to work, having recently launched its
first set of Sustainability Commitments, to outline forward-looking
objectives across a range of areas that are material to project
development and operations in the context of long-term sustainable
practices. The Company has also adopted a new protocol to provide
for engagement with stakeholders on any concerns that may arise in
relation to the Marimaca Project and its development. Further
information on these initiatives can be found here.
Hayden Locke, President and CEO of
Marimaca Copper commented:
“We see clear benefits in taking part in the
Digbee ESG performance assessment as we have always understood the
significant ESG opportunities provided to us as a Company and for
the Marimaca project itself. This process will help us to refine
our plans and thinking as we move towards development. We have
already taken significant steps to adopting our new Sustainability
Commitments, which we will use to take the project forward. We are
also looking to provide a new basis for stakeholder engagement, one
which focuses on dialogue at an early stage to address any issues
as they may arise. We will be completing our second Digbee
assessment in Q3/Q4 2022, by which time we expect to have made
additional strides in the development of ESG-related areas,
particularly with our plans for long-term sea water supply for
operations and anticipated sourcing of power.”
Jamie Strauss, CEO of Digbee
commented:
"Our assessment highlights the enviable natural
position of the Marimaca Project, a project that is unique in terms
of ESG potential because its location is extremely
beneficial for sustainable development purposes. In addition, the
intention to use seawater for operational purposes is a material
advantage for water use and management, which is one of the most
important sustainability considerations in Chile. Beyond this, the
Company has demonstrated an early commitment to ongoing sustainable
improvement, and we congratulate them on their embracement of
an independent assessment and their adoption of clear
sustainability commitments for the future."
Figure 1: Digbee ESG assessment for
Marimaca Copper at corporate level and project level (source:
Digbee
ESG):https://www.globenewswire.com/NewsRoom/AttachmentNg/57c11b3a-41de-4c46-8d03-80d88eb5806d
About the Digbee ESG performance
assessment process
A Digbee ESG submission comprises two types of
questionnaires: (1) a single corporate-level questionnaire, and (2)
one or more project-level questionnaires. The questionnaires are
tailored to the stage of the mining company and its projects (i.e.,
exploration, development and/or producing). Each question is scored
in accordance with Digbee's scoring criteria and averaged to
provide an overall output score along with a confidence banding. A
confidence banding illustrates the potential range with which the
awarded score can move should any of the risks be realized or
mitigated.
Contact Information
Tavistock +44 (0) 207 920 3150Jos
Simson/Oliver Lamb / Nick Elwesmarimaca@tavistock.co.uk
Forward Looking Statements
This news release includes certain
“forward-looking statements” under applicable Canadian securities
legislation. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon
a number of assumptions and estimates that, while considered
reasonable by Marimaca Copper, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or
achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions
and estimates based on or related to many of these factors. Such
factors include, without limitation: risks related to share price
and market conditions, the inherent risks involved in the mining,
exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
geological data, fluctuating metal prices, the possibility of
project delays or cost overruns or unanticipated excessive
operating costs and expenses, uncertainties related to the
necessity of financing, the availability of and costs of financing
needed in the future as well as those factors disclosed in the
annual information form of the Company dated March 25, 2022, the
final short form base prospectus and other filings made by the
Company with the Canadian securities regulatory authorities (which
may be viewed at www.sedar.com). Accordingly, readers should
not place undue reliance on forward-looking statements. Marimaca
Copper undertakes no obligation to update publicly or otherwise
revise any forward-looking statements contained herein whether as a
result of new information or future events or otherwise, except as
may be required by law.
Neither the Toronto Stock Exchange nor the
Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this
release.
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