Digbee Assessment Continues to Highlight Marimaca’s Unique ESG Position
March 09 2023 - 6:59AM
Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX:
MARI) announces the completion of its second independent ESG
performance assessment via the Digbee ESG reporting framework, to
assist in the evaluation of the ESG performance and current
positioning of the Company and the Marimaca Copper Project, located
in Antofagasta Region, Chile (the “Project”).
The Digbee framework is designed specifically
for the mining sector and endorsed by leading sector and financial
stakeholders. The framework provides an independent, practical and
forward-looking basis of assessment for junior mining companies at
various stages of project lifecycles. It is aligned to core global
sustainability standards and is conducted by a team of
internationally recognised, independent, ESG experts with
significant experience across the mining and resources sector. The
2022 assessment identifies the Company’s achievements to date and
provides independent ESG accreditation of Marimaca’s ESG
performance. Marimaca’s Sustainability Commitments, published in
May 2022 and available on the Marimaca website, detail the
Company’s ethos and vision regarding sustainability.
Highlights
-
The 2022 assessment provided an overall score of BBB for
the Company and the Marimaca Project, an improvement from the BB
score assessed in 2021
-
Many project and corporate scores were ranked at 'A and
above
-
Significant progress has been made by the Company in the
past 12 months regarding both ESG governance and operational
sustainability milestones:
-
The appointment of a Chief Sustainability Officer and the
restructuring of Board Committees to provide a stand-alone ESG
committee
-
Secured Water Option Agreement for seawater supply to meet
the Project’s expected long-term water supply requirements
(see press release dated November 7,
2022)
-
This secures LOM water supply while removing the risk for
potential adverse impacts of sourcing water from other limited
supplies, such as groundwater
-
The Water Option also provides an option to provide a
component of the Project’s power from certified renewable sources,
underlining the Company’s commitment to sourcing green power for
operational requirements
-
The assessment underlined the following significant ESG
credentials of the Marimaca Project:
-
The geological characteristics of the Project, such as its
low strip ratio (1:1), which will allow copper to be extracted and
processed using simple, low cost and low ESG impact
methodologies
-
Very favourable access to existing critical infrastructure
given the Project’s unique location
-
Complimented by the presence and availability of relevant
mining industry skills and robust Chilean mining industry
governance
-
Simple Project ownership structure – 100% owned by Marimaca
Copper
-
Transparent land ownership structure with the Project area
located on Chilean state-owned land
-
No local communities within the Project’s expected area of
influence, limiting the potential impact of noise, dust, and
vibration and meaning no resettlement will be
required
-
No wet discharge will be required from the expected heap
leach and SX-EW processing activities
-
No Tailings Storage Facility will be required for the SX-EW
processing design
-
No Scope 3 emissions generated given expected production of
copper cathode which does not require smelting and
refining
More information on Marimaca’s Sustainability
Commitments can be found here. Information on Marimaca’s governance
structures can be found here.
Hayden Locke, President & CEO of
Marimaca Copper, commented:
“Our second Digbee assessment supports and
underlines the advancements we have made throughout 2022 to
progress our commitment to sustainability, with the objective of
developing the Marimaca project as a sustainable mine. The adoption
of our Sustainability Commitments and Stakeholder Engagement
Protocol and the execution of the water option to secure access to
recycled seawater for future operations are highlights from 2022
that underline the significant progress we have made so far. We
will continue to execute on our commitments as part of our
permitting strategy and development plans to be advanced throughout
2023. I would like to thank Laura and her team for the efforts they
have made to progress our sustainability agenda and look forward to
continuing this in 2023.”
Jamie Strauss, CEO of Digbee,
commented:
“Our 2022 assessment of Marimaca Copper and the
Marimaca project continues to highlight the uniqueness of Marimaca
in terms of ESG potential. Marimaca has made good progress in the
execution of its ESG commitments in 2022, in terms of management,
governance and standards. On a practical level, the recycled
seawater supply that it has secured for future operations stands
out as an innovative example of how the Company is committed to
find sustainable solutions for operational needs. We are excited to
see how this will be progressed in 2023 and believe that Marimaca
has the potential to further improve its overall ESG
credentials.”
Figure 1: 2022 Digbee Assessment
Corporate Score
Figure 2: 2022 Digbee Assessment Project
Score
About the Digbee ESG performance
assessment process
Digbee assembles an independent team of suitably
qualified Mining ESG experts to manually review submissions against
a set of rigorous and standardised scoring criteria. These scores
are peer reviewed before being finalised to ensure accuracy and
credibility. The overall score is the calculated average of the
corporate and project scores. Context scores reflect the inherent
risk of where we are operating and there is little that can be done
to influence these, whereas the action scores reflect the action
being taken by us to mitigate these risks.
Contact InformationFor further
information please visit www.marimaca.com or contact:
Tavistock +44 (0) 207 920
3150Emily Moss / Adam Baynesmarimaca@tavistock.co.uk
Forward Looking Statements
This news release includes certain
“forward-looking statements” under applicable Canadian securities
legislation. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon
a number of assumptions and estimates that, while considered
reasonable by Marimaca Copper, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or
achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions
and estimates based on or related to many of these factors. Such
factors include, without limitation: risks related to share price
and market conditions, the inherent risks involved in the mining,
exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
geological data, fluctuating metal prices, the possibility of
project delays or cost overruns or unanticipated excessive
operating costs and expenses, uncertainties related to the
necessity of financing, the availability of and costs of financing
needed in the future as well as those factors disclosed in the
annual information form of the Company dated March 28, 2022, the
final short form base prospectus and other filings made by the
Company with the Canadian securities regulatory authorities (which
may be viewed at www.sedar.com). Accordingly, readers should
not place undue reliance on forward-looking statements. Marimaca
Copper undertakes no obligation to update publicly or otherwise
revise any forward-looking statements contained herein whether as a
result of new information or future events or otherwise, except as
may be required by law.
Neither the Toronto Stock Exchange nor the
Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this
release.
Photos accompanying this announcement are available at
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