Trading Symbol: TSX: SVM
NYSE AMERICAN: SVM
VANCOUVER, BC, Sept. 16,
2024 /CNW/ - 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 2024, detailing the Company's environmental,
social, and governance ("ESG") commitments, performance, and
targets.
"At Silvercorp, we recognize the mining industry's role in
supporting the global transition to a low-carbon future and our
responsibility to supply essential minerals sustainably," said Dr.
Rui Feng, Chair and CEO of
Silvercorp. "This year, we made significant strides in
advancing our sustainability goals by implementing several energy
conservation and emissions reduction projects across our
operations. As we continue to expand our operations into new
jurisdictions, ESG remains at the core of our business strategy,
ensuring long-term value creation for all stakeholders, while
minimizing our environmental impact and positively impacting the
communities in which we operate."
Highlights of Silvercorp's Fiscal 2024 Sustainability
Report
Environmental
- Achieved an 85% water recycling rate at processing plants, a 4%
increase compared to our 2020 baseline, showing our ongoing
commitment to decrease our fresh water usage,
- Implemented XRT intelligent waste rock screening technology,
reducing electricity consumption by 50 kilowatt-hours per tonne of
waste rock screened,
- Deployed 10 electric mining trucks at our operations to support
our emissions reduction targets, and
- Had zero significant environmental incidents.
Social
- Invested $3.2 million in local
community initiatives, nearly double the amount of the previous
year,
- Achieved 74% local employment from communities surrounding
Silvercorp's operations, a 3% increase from the previous year,
and
- Conducted our first gender pay equity survey to reaffirm our
commitment to fairness and equality in compensation practices.
Governance
- Achieved 33% female representation and 83% independence on the
Board,
- Strengthened governance with the addition of two new corporate
policies, Human Resources and Water Stewardship, and published our
inaugural Forced Labour and Child Labour Report, and
- Formalized our Supplier's Code of Conduct to ensure suppliers
are aligned with our core values and commitment to ethical and
responsible business practices.
Reporting Frameworks
The report has been prepared with reference to the GRI Standards
2021 of the Global Sustainability Standard Board (GSSB), as well as
regarding the Sustainable Development Goals (SDGs) by the United
Nations Global Compact (UNGC), the Recommendations of the Task
Force on Climate- Related Financial Disclosures (TCFD), the Global
Industry Standard on Tailings by the International Council on
Mining and Metals (ICMM), and the Sustainability Accounting
Standards Board (SASB) standard on Metals and Mining.
The full 2024 Sustainability Report is available for download at
www.silvercorp.ca, along with the applicable ESG data tables and
GRI indices at www.silvercorpmetals.com/reporting/.
About Silvercorp
Silvercorp is a Canadian mining company producing silver, gold,
lead, and zinc with a long history of profitability and growth
potential. The Company's strategy is to create shareholder value by
1) focusing on generating free cash flow from long life mines; 2)
organic growth through extensive drilling for discovery; 3) ongoing
merger and acquisition efforts to unlock value; and 4) long term
commitment to responsible mining and ESG. For more information,
please visit our website at www.silvercorpmetals.com.
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.silvercorpmetals.com
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 and US 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. Forward-looking statements relate to, among other
things: statements regarding the Company's energy usage, water
usage, carbon emissions and environmental and community impact;
foreign exchange rates; 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, operation costs. and capital
expenditures; estimated production from the Company's mines; timing
of mill capacity expansion and new tailing storage facility
construction; 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.
Actual results may vary from forward-looking statements.
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: 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; all necessary permits,
licenses and regulatory approvals for our operations are received
in a timely manner; 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, Canada
and Ecuador; environmental risks;
foreign exchange rate fluctuations; insurance; risks and hazards of
mining operations; key personnel; conflicts of interest; dependence
on management; global economic and social impact of
COVID-19; internal control over financial reporting; and
bringing actions and enforcing judgments under U.S. securities
laws.
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" and in the Company's Annual Report on
Form 40-F, and in the Company's other filings with Canadian and
U.S. securities regulators. 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.
Assumptions may prove to be incorrect and actual results may differ
materially from those anticipated. Consequently, guidance cannot be
guaranteed. 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.silvercorpmetals.com.
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SOURCE Silvercorp Metals Inc