VANCOUVER, BC, Feb. 7, 2023
/PRNewswire/ - Equinox Gold Corp. (TSX: EQX) (NYSE American:
EQX) ("Equinox Gold" or the "Company") is pleased to announce
its target of a 25% reduction in greenhouse gas ("GHG") emissions
by 2030. Equinox Gold's strategy for GHG emissions reduction is
summarized in the Company's inaugural Climate Action Report, which
is aligned with the disclosure guidelines of the Task Force on
Climate-Related Financial Disclosures.
Greg Smith, President & CEO
of Equinox Gold, commented: "Equinox Gold has made substantial
progress in understanding our carbon footprint and identifying
opportunities for improvement. We are pleased to deliver our
strategy to achieve a 25% reduction in GHG emissions by 2030, as
outlined in our inaugural Climate Action Report. We are
implementing initiatives at our producing mines that will reduce
GHG emissions and operating costs while also considering GHG
emissions mitigation opportunities at our development projects so
we can achieve both production growth and our climate-related
objectives."
Equinox Gold's Climate Action Report summarizes the Company's
strategy to reduce its GHG emissions and mitigate potential
negative impacts of climate change on its operations. Equinox Gold
supports the goals of the Paris Agreement and has adopted leading
industry standards to guide its climate action strategy, including
the United Nations Global Compact, the World Gold Council's
Responsible Gold Mining Principles and the Mining Association of
Canada's Towards Sustainable
Mining protocols.
Since 2020, Equinox Gold has been implementing processes to
understand its carbon footprint, identify opportunities for
improvement and take concrete steps towards establishing a
comprehensive climate action strategy. Using baseline GHG emissions
data, life-of-mine production forecasts, a detailed assessment of
climate-related risks and opportunities at the Company's mine
sites, and a review of industry standards and available technology,
Equinox Gold has committed to a target of reducing its Scope 1 and
Scope 2 GHG emissions by 25% by 2030 compared to
"business-as-usual" forecast GHG emissions in 2030 if no
intervention measures were taken.
Based on an assessment of existing operations and planned
expansions, Equinox Gold determined that diesel combustion in
mobile equipment and electricity generation for fixed equipment
account for substantially all the Company's GHG emissions. As such,
Equinox Gold's near-term GHG emissions reduction initiatives are
focused on improving the efficiency of its haul trucks,
transitioning to lower emissions diesel where supply is available,
reducing electricity consumption and, where possible, sourcing
electricity from green power sources.
More information about the Company's methodology, risk
assessment and climate action strategy is summarized in the Climate
Action Report, which is available for download at
www.EquinoxGold.com.
About Equinox Gold
Equinox Gold is a growth-focused Canadian mining company with
seven operating gold mines, construction underway at a new project,
and a path to achieve more than one million ounces of annual gold
production from a pipeline of development and expansion projects.
Equinox Gold's common shares are listed on the TSX and the NYSE
American under the trading symbol EQX. Further information about
Equinox Gold's portfolio of assets and long-term growth strategy is
available at www.equinoxgold.com or by email at
ir@equinoxgold.com.
Equinox Gold Contacts
Greg Smith, President &
CEO
Rhylin Bailie, Vice President
Investor Relations
Tel: +1 604-558-0560
Email: ir@equinoxgold.com
Cautionary Notes
This news release contains certain forward-looking
information and forward-looking statements within the meaning of
applicable securities legislation and may include future-oriented
financial information. Forward-looking statements and
forward-looking information in this news release relate to, among
other things: the Company's ability to achieve a 25% reduction in
GHG emissions by 2030; the strategic vision for the Company and
expectations regarding production capabilities and future financial
or operations performance; the timing for and the Company's ability
to successfully advance its growth and development projects;
the Company's expectations for reducing its GHG emissions and
the impact of its operations on climate change; expectations
regarding the availability of green alternative power sources,
biofuels and energy efficient vehicles; and the anticipated cost
savings of adopting certain emission reduction initiatives.
Forward-looking statements or information generally identified by
the use of the words "will", "target", "strategy", "potential",
"commit" and similar expressions and phrases or statements that
certain actions, events or results "could", "would" or "should", or
the negative connotation of such terms, are intended to identify
forward-looking statements and information. Although the Company
believes that the expectations reflected in such forward-looking
statements and information are reasonable, undue reliance should
not be placed on forward-looking statements since the Company can
give no assurance that such expectations will prove to be correct.
The Company has based these forward-looking statements and
information on the Company's current expectations and projections
about future events and these assumptions include: the mine plans
and development schedules outlined in the technical reports for
each project, including estimated development schedules remaining
unchanged; the Company's ability to reduce its environmental
footprint and improve sustainability practices; the Company's
ability to mitigate the negative impact of climate change on its
operations; the availability of funds for the Company's projects
and future cash requirements; the ability to realize anticipated
benefits from climate risk mitigation initiatives, including the
use of green energy and biofuels; construction and development at
Greenstone being completed and performed in accordance with current
expectations, including estimated capital costs; prices for energy
inputs, labour, materials, supplies and services, and the impact of
inflation on the same, remaining as expected; prices for gold
remaining as estimated; no labour-related disruptions and no
unplanned delays or interruptions in scheduled construction,
development and production, including by blockade; all necessary
permits, licenses and regulatory approvals are received in a timely
manner; and the Company's ability to comply with
environmental, health and safety laws. While the Company considers
these assumptions to be reasonable based on information currently
available, they may prove to be incorrect. Accordingly, readers are
cautioned not to put undue reliance on the forward-looking
statements or information contained in this news release.
The Company cautions that forward-looking statements and
information involve known and unknown risks, uncertainties and
other factors that may cause actual results and developments to
differ materially from those expressed or implied by such
forward-looking statements and information contained in this news
release and the Company has made assumptions and estimates based on
or related to many of these factors. Such factors include, without
limitation: changes in the expected impacts of climate change;
changes in laws, regulations and government practices, including
laws and regulations relating to the environment and carbon taxes;
legal restrictions relating to mining; fluctuations in gold prices;
fluctuations in prices for energy inputs, labour, materials,
supplies and services, including environmentally friendly
alternatives; fluctuations in currency markets; operational risks
and hazards inherent with the business of mining (including
environmental accidents and hazards, industrial accidents,
equipment breakdown, unusual or unexpected geological or structural
formations, cave-ins, flooding and severe weather); inadequate
insurance, or inability to obtain insurance to cover these risks
and hazards; employee relations; relationships with, and claims by,
local communities and Indigenous partners; the Company's ability to
obtain all necessary permits, licenses and regulatory approvals in
a timely manner or at all; and those factors identified in the
section titled "Risks and Uncertainties" in Equinox Gold's
MD&A dated March 23, 2022 for the
year ended December 31, 2021, and in
the section titled "Risks Related to the Business" in Equinox
Gold's most recently filed Annual Information Form, both of which
are available on SEDAR at www.sedar.com and on EDGAR at
www.sec.gov/edgar. Forward-looking statements and information are
designed to help readers understand management's views as of that
time with respect to future events and speak only as of the date
they are made. Except as required by applicable law, Equinox Gold
assumes no obligation to update or to publicly announce the results
of any change to any forward-looking statement or information
contained or incorporated by reference to reflect actual results,
future events or developments, changes in assumptions or changes in
other factors affecting the forward-looking statements and
information. If Equinox Gold updates any one or more
forward-looking statements, no inference should be drawn that
Equinox Gold will make additional updates with respect to those or
other forward-looking statements. All forward-looking statements
and information contained in this news release are expressly
qualified in their entirety by this cautionary statement.
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SOURCE Equinox Gold Corp.