Trading
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TSX: SVM
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NYSE American: SVM
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VANCOUVER, BC, Oct. 16,
2023 /PRNewswire/ - Silvercorp Metals Inc.
("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is
pleased to announce the publishing of its annual Sustainability
Report for Fiscal 2023, detailing the Company's environmental,
social, and governance ("ESG") performance, management, and
targets.
"We remain firmly committed to the integration of Environmental,
Social, and Governance (ESG) principles into our strategic
planning, operations, and management," said Dr. Rui Feng, Chairman and CEO of Silvercorp. "By
prioritizing responsible mining, Silvercorp ensures that its
operations not only create value for stakeholders but also have a
positive impact on the lives of those connected to its activities.
As we progress towards our Fiscal 2024 goals and targets,
Silvercorp's core values and purpose will guide each decision,
ensuring that sustainability and responsibility remain at the
forefront of our endeavors."
Highlights of Silvercorp's Fiscal
2023 Sustainability Report
- ESG Management: 100% of our operating mines were awarded
with ISO certifications in environmental, energy, and occupational
health and safety management.
- Environment: Recycled 84.85% of water used in our
operations, increasing our water recycling rate by 5.63% compared
to our 2020 levels.
- Health and Safety: There were no work-related
fatalities; reduced LTIR from 0.55 to 0.25, down for the fourth
consecutive year.
- Community: Invested in our local communities, supporting
education, economic development, public health, and
infrastructure.
- Governance: Adopted four new ESG-related policies at the
Board level, including the Environmental Protection Policy,
Community Relations Policy, Human Rights Policy, and Occupational
Health and Safety Policy.
Reporting Frameworks
The Company's report has been prepared in accordance with the
Core Accordance option of the 2021 GRI Standards of the Global
Sustainability Standard Board (GSSB), the China Corporate Social
Responsibility Reporting Guidelines 5.0 by the Chinese Academy of
Social Sciences (CASS-ESG5.0), the SDG Compass by the United
Nations Global Compact (UNGC), the Global Industry Standard on
Tailings Management by the International Council on Mining and
Metals (ICMM), the Task Force on Climate-related Financial
Disclosures (TCFD) recommendations, and the Sustainability
Accounting Standards Board (SASB) standard on Metals and
Mining.
The full 2023 Sustainability Report is available for download
at www.silvercorpmetals.com , along with the applicable
ESG data tables and GRI indices at
www.silvercorpmetals.com/reporting/.
About Silvercorp
Silvercorp is a profitable Canadian mining company producing
silver, lead and zinc metals in concentrates from mines in
China. The Company's goal is to
continuously create healthy returns to shareholders through
efficient management, organic growth and the acquisition of
profitable projects. Silvercorp balances profitability, social and
environmental relationships, employees' wellbeing, and sustainable
development. For more information, please visit our website at
www.silvercorp.ca.
For further information
Silvercorp Metals Inc.
Lon Shaver
President
Phone: (604) 669-9397
Toll Free: 1 (888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorp.ca
CAUTIONARY DISCLAIMER - FORWARD LOOKING
STATEMENTS
Certain of the statements and information in this news
release constitute "forward-looking statements" within the meaning
of the United States Private Securities Litigation Reform Act of
1995 and "forward-looking information" within the meaning of
applicable Canadian provincial securities laws (collectively,
"forward-looking statements"). Any statements or information that
express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (often, but not always, using words
or phrases such as "expects", "is expected", "anticipates",
"believes", "plans", "projects", "estimates", "assumes", "intends",
"strategies", "targets", "goals", "forecasts", "objectives",
"budgets", "schedules", "potential" or variations thereof or
stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms and similar expressions) are not
statements of historical fact and may be forward-looking statements
or information. Forward-looking statements or information relate
to, among other things: the price of silver and other metals; the
accuracy of mineral resource and mineral reserve estimates at the
Company's material properties; the sufficiency of the Company's
capital to finance the Company's operations; estimates of the
Company's revenues and capital expenditures; estimated production
from the Company's mines in the Ying Mining District; timing
of receipt of permits and regulatory approvals; availability of
funds from production to finance the Company's operations; and
access to and availability of funding for future construction, use
of proceeds from any financing and development of the Company's
properties; and our intention to repurchase up to 4.8% of our
common shares, including the expected timing, duration, volume and
nature of such stock repurchase program.
Forward-looking statements are subject to a variety of known
and unknown risks, uncertainties and other factors that could cause
actual events or results to differ from those reflected in the
forward-looking statements, including, without limitation, risks
relating to: global economic and social impact of COVID-19;
fluctuating commodity prices; calculation of resources, reserves
and mineralization and precious and base metal recovery;
interpretations and assumptions of mineral resource and mineral
reserve estimates; exploration and development programs;
feasibility and engineering reports; permits and licenses; title to
properties; property interests; joint venture partners; acquisition
of commercially mineable mineral rights; financing; recent market
events and conditions; economic factors affecting the Company;
timing, estimated amount, capital and operating expenditures and
economic returns of future production; integration of future
acquisitions into the Company's existing operations; competition;
operations and political conditions; regulatory environment in
China and Canada; environmental risks; foreign exchange
rate fluctuations; insurance; risks and hazards of mining
operations; key personnel; conflicts of interest; dependence on
management; internal control over financial reporting; bringing
actions and enforcing judgments under U.S. securities laws; and our
ability to realize the anticipated benefits of our share repurchase
program.
This list is not exhaustive of the factors that may affect
any of the Company's forward-looking statements. Forward-looking
statements are statements about the future and are inherently
uncertain, and actual achievements of the Company or other future
events or conditions may differ materially from those reflected in
the forward-looking statements due to a variety of risks,
uncertainties and other factors, including, without limitation,
those referred to in the Company's Annual Information Form under
the heading "Risk Factors". Although the Company has attempted to
identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated, described or intended.
Accordingly, readers should not place undue reliance on
forward-looking statements.
The Company's forward-looking statements are based on the
assumptions, beliefs, expectations and opinions of management as of
the date of this news release, and other than as required by
applicable securities laws, the Company does not assume any
obligation to update forward-looking statements if circumstances or
management's assumptions, beliefs, expectations or opinions should
change, or changes in any other events affecting such statements.
For the reasons set forth above, investors should not place undue
reliance on forward-looking statements.
Additional information related to the Company,
including Silvercorp's Annual Information Form, can be
obtained under the Company's profile on SEDAR+
at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the
Company's website at www.silvercorp.ca.
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SOURCE Silvercorp Metals Inc