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Dynacor Group Announces 2023 ESG Report
MONTRÉAL / Aug 23, 2023 / Business Wire / Dynacor Group Inc. (TSX-DNG) (Dynacor or the Corporation) announces its third ESG (environmental, social and governanc
About this update from Dynacor Group Inc
[{"type":"text","content":"MONTRÉAL / Aug 23, 2023 / Business Wire / Dynacor Group Inc. (TSX-DNG) (Dynacor or the Corporation) announces its third ESG (environmental, social and governance) report concerning the Global Reporting Initiative (GRI) Standards. Jean Martineau, President and CEO of Dynacor Group Inc., said 2022 was also an exceptional year for Dynacor, as was 2021. “We maintained sustained growth with the production of more than 110,000 ounces of gold equivalent and, as a result, our sales amounted to $197.5 million. We also distributed $192.5 million in operating costs and financial obligations,” he said. In Peru, we paid $9.8 million in taxes for companies in the sector, and in Canada, $108.3 thousand in taxes. As a result of the increase in production from our subsidiary Veta Dorada, we have ranked among the top 10 gold producers, according to the Mining Statistical Bulletin of the Ministry of Energy and Mines of Peru, in 2022. “Thanks to our work team (469 employees from Peru and Canada), we managed to exceed the objectives set,” he stressed. EXPANSION During 2022, the plant continued to expand with a 16% increase in ore processing capacity in the fourth quarter, following a 25% increase in the second quarter of 2021. In addition, purchases in Arequipa increased by 5.5% (US$46.9 million in 2022 vs. US$44.5 million in 2021). “Our sustainability strategy, established in 2019, has steered us towards management aimed at generating positive impacts. This is why we are working to increasingly implement good international practices in governance, environmental protection and relations with the populations in our area of influence,” said Jean Martineau. TRACEABILITY AND SUSTAINABILITY Regarding the traceability of gold, the “Dynacor Ore Purchase Verification Questionnaire,” which is part of the internal verification system, was updated. In addition, our Human Rights Policy, which includes 12 commitments, was implemented. The social investment was made through the Community Development Program (Veta Dorada Subsidiary) and Fidamar (International Fund for Assistance to Artisanal Miners), whose funds come from the PX Impact® Program. Through a shared vision approach, $192,960 was allocated, of which $16,320 was invested in health, nutrition, education, environmental management, basic infrastructure, local institution development and capacity building, ...