Teranga Gold’s social, environmental efforts grant it top award at PDAC
Africa-focused Teranga Gold (TSX, ASX:TGZ) has been working on expanding beyond its current Senegal-based Sabodala mine in the past few months, but those plans have not meant for the company to neglect community members or the environment.
On the contrary, since its initial public offering in 2010, Teranga has made it a priority to set the benchmark for responsible mining in West Africa and such efforts will be recognized Tuesday at the Prospectors & Developers Association of Canada’s (PDAC) International Convention, with the Toronto-based miner being granted the 2017 Environmental and Social Responsibility Award.
"As guests in the countries in which we operate, we understand that we must earn the trust of our hosts,” says Teranga’s President and Chief Executive Officer, Richard Young. “To achieve this, we have taken a transparent, consultative and collaborative approach with government and communities to develop initiatives that will make long lasting contributions within the region around our mine.”
Teranga employs more than 1,000 people from Senegal, most of who are from the two regions near its Sabodala gold mine.
The executive explains that, in addition to providing a safe workplace, his company has invested in infrastructure, medical facilities, training, schools, food security and agricultural programs in the immediate areas around the mine.
“We strongly believe that our success is tied to the success and stability of our host communities and our reputation as a responsible partner in sustainable resource development,” Young notes.
A good example of such commitment is the fact that Teranga employs more than 1,000 people from Senegal, most of who are from the two regions near the mine. Women, who comprise 9% of the workforce at the mine site, are represented across all departments, not just administrative positions. In addition, the company also delivers more than 40 training programs to develop employee skills, literacy and numeracy.
Not surprisingly, this is not the first time Teranga is recognized for its commitment to communities and the environment. Last year, it received the United Nations Sustainable Development Goals Award by Global Compact Network Canada.
Teranga has also been acknowledged by Corporate Knights Future 40 Responsible Corporate Leaders in Canada for three consecutive years and, in 2015, was ranked 17th.
In addition to evaluating growth opportunities at its Sabodala mine, Senegal’s only commercial gold operation, located near the Mali border, Teranga is fast-tracking the development of Banfora in Burkina Faso. That gold project, which the company inherited after its recent acquisition of Gryphon Minerals, is expected to begin production in 2019, bringing it closer to its goal of becoming a mid-tier gold producer.