Perseus Mining Ltd chalks improvements in sustainable development as it races

  () () () (FRA:P4Q) has recorded great progress in its 2020 sustainability report as it moves forward in delivering sustainable gold production of 500,000 ounces per annum by financial year 2022. 

The report confirms the work Perseus has been doing over the years, which has led to a solid, social and environmental performance.

Highlights of the report include zero fatalities in the history of the company and significant benefits for its host countries, including 96% of its employees coming from Ghana and Côte d’Ivoire. 

Further, nearly 80% of goods and services are sourced from the host countries. 

Win-win situation for all stakeholders

Speaking to Proactive, Perseus Mining chief executive and managing director Jeff Quartermaine said: “ESG is not a winner takes all game.

“Done properly, it can definitely be a win-win situation with all our stakeholders benefiting, not just our stakeholders and this is what Perseus is seeking to do and I trust the report we publish today will provide readers with an excellent insight into the progress we have been making today.”

In the report, he added: “Our achievements from the last 12 months include increasing our social investment spend by 71% from 2019 to US$1.9 million, delivering critical health and education infrastructure projects in our communities.

“We have also increased our local employment from 94% in 2019 to 96%, increased our local procurement from 66% in 2019 to 78% in 2020.

“This resulted in a total economic contribution to Ghana and Côte d’Ivoire of about US$385 million in 2020.

Confirms work done over the years

Perseus Mining’s group head of sustainability Jessica Volich told Proactive: “This work confirms all the work Perseus has done over the years has today led to a solid social and environmental performance.”

Perseus started working with KPMG in 2020 to establish a three-year sustainability roadmap, focused on driving improvements in environmental and social performance to enhance its economic and social value proposition.

New board member

In financial year 2021, the company refreshed its board composition and accountability to enable greater focus on sustainability risks and opportunities, and environmental and social performance.

A new director will be appointed before the end of the financial year to enhance the sustainability skills of the board.

The new director will lead oversight of the company’s sustainability performance, as part of the Audit and Risk Committee.

Regulatory compliance

In 2020, Perseus established and commenced the roll-out of a compliance management database, capturing its Environmental and Social Impact Assessment (ESIA) commitments and sustainability legal requirements, which will be completed in 2021.

Ethical conduct

In financial years 2021 and 2022, the company will review and update its code and associated processes to ensure it remains current with legislation changes and its risk profile, and enhance its integration within the company’s governance and sustainability performance framework.

Supply chain and responsible sourcing

To further enhance the sustainability of its supply chain and in line with the introduction of the Australian Modern Slavery Act 2018, Perseus developed and commenced implementation of a Modern Slavery Management Plan in 2020.

Key to the delivery of this plan is its supplier due diligence program, which will be implemented across its higher risk supply categories in financial years 2021 and 2022.

Sustainability

The company has developed its policy and standards framework with a focus on governance at individual operations and through financial years 2021 and 2022, it will review,…