TORONTO, June 6, 2022
/PRNewswire/ - New Gold Inc. ("New Gold" or the "Company")
(TSX: NGD) (NYSE American: NGD) is pleased to announce the
publication of its 2021 Sustainability Report (the "Report"). New
Gold has published an annual Sustainability Report since 2015,
reporting on safety, environmental, economic, and social topics
important to the communities where we operate, our employees, and
other stakeholders. The Report is available on our website at
www.newgold.com.
"We are pleased to release our 2021 Sustainability Report
which builds off of our Sustainability Strategy launched last
year," stated Renaud Adams,
President & CEO. "The theme of this year's report
is Resilience. I am proud of how our teams and communities came
together throughout the year with 2021 being a year of great
opportunities and challenges for New Gold's people, operations, and
the Indigenous communities we partner with. We continue to
evolve our reporting on key matters related to ESG, and in 2021, we
progressed our alignment with the Task Force on Climate-related
Financial Disclosures (TCFD) recommendations and developed our
first standalone TCFD Report."
"Sustainability remains at the core of New Gold's Mission and
Values, and I am pleased to announce Bethany Borody has been promoted to the position
of Vice President, Sustainability. I am confident Beth and our
teams will deliver on our goals out to 2030 as outlined in our
Sustainability Strategy," added Mr. Adams.
The 2021 Sustainability Report was prepared in accordance with
the GRI Standards and the G4 Mining and Metals Sector Disclosures.
The Company has also prepared the report in accordance with the
SASB Metals and Mining Standards to allow for integration of
sustainability accounting. For the 2021 Report, the Company once
again mapped against the United Nations Sustainable Development
Goals (UN SDGs) to better align with the global market and expand
how New Gold communicates performance to stakeholders. New Gold
continues to be the only Canadian company operating in Canada to report against the Local Procurement
Reporting Mechanism (LPRM). The Company continues to align
reporting with the TCFD and developed its inaugural standalone TCFD
Report. Concurrent with the 2021 Report and in an effort to enhance
transparency, the Company is pleased to announce it has launched an
interactive ESG database highlighting historical data, which is
available on our website.
2021 Highlights
- Completed a TCFD gap and readiness assessment to support the
development of a climate action strategy with a target of a 30%
reduction in Scope 1 and Scope 2 GHG emissions by 2030, using 2020
GHG emissions as a baseline, and undertook a climate risk
assessment using scenario analysis with a third-party
consultant.
- Signed a new Cooperation Agreement with the Tk'emlúps te
Secwépemc and the Skeetchestn Indian Band (collectively, the SSN),
replacing the existing Participation Agreement and strengthening
the relationship between the New Afton team and SSN members.
- Expanded the total number of active Fire and Mine Rescue Team
members in 2021 at New Afton, including the addition of the first
two female recruits to the team.
- Increased total Indigenous procurement spend at Rainy River and New Afton by approximately 35%
to $179 million. The Company
continues to seek opportunities for local and Indigenous vendors to
participate in our supply chain and to report on annual spend
through the LPRM.
- Achieved compliance with Mining Association of Canada (MAC) and Canadian Dam Association
(CDA) for all tailings management plans. New Afton received AAA
rating on all five indicators under the Tailings Management
Protocol and received AAA rating on all three indicators under the
Energy and Greenhouse Gas Emissions Management Protocol.
- Continued to operate under the company-wide Pandemic Response
and Business Plan, working with our communities and employees to
assess and develop contingency plans that address risks. New Gold
continues to identify and implement measures to protect our
workforce and communities.
About New Gold
New Gold is a Canadian-focused intermediate mining company with
a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New
Afton copper-gold mine. The Company also holds a 5% equity stake in
Artemis Gold Inc., and other Canadian-focused investments. New
Gold's vision is to build a leading diversified intermediate gold
company based in Canada that is
committed to the environment and social responsibility. For further
information on the Company, visit www.newgold.com.
Cautionary Note Regarding
Forward-Looking Statements
Certain information contained in this news release, including
any information relating to New Gold's future financial or
operating performance are "forward-looking". All statements in this
news release, other than statements of historical fact, which
address events, results, outcomes or developments that New Gold
expects to occur are "forward-looking statements". Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by the use of forward-looking
terminology such as "plans", "expects", "is expected", "budget",
"scheduled", "targeted", "estimates", "forecasts", "intends",
"anticipates", "projects", "potential", "believes" or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "would", "should", "might" or "will be
taken", "occur" or "be achieved" or the negative connotation of
such terms. Forward-looking statements in this news release
include, among others, statements with respect to: the continued
reporting on key ESG matters; anticipated attainment of
Sustainability Strategy goals out to 2030; seeking and reporting
local and Indigenous participation in the supply chain; and the
continued identification and implementation of protective
measures.
All forward-looking statements in this news release are based on
the opinions and estimates of management that, while considered
reasonable as at the date of this press release in light of
management's experience and perception of current conditions and
expected developments, are inherently subject to important risk
factors and uncertainties, many of which are beyond New Gold's
ability to control or predict. Certain material assumptions
regarding such forward-looking statements are discussed in this
news release, New Gold's latest annual management's discussion and
analysis, its most recent annual information form and technical
reports on the Rainy River Mine and New Afton Mine filed on SEDAR
at www.sedar.com and on EDGAR at www.sec.gov. In addition to, and
subject to, such assumptions discussed in more detail elsewhere,
the forward-looking statements in this news release are also
subject to the following assumptions: (1) there being no
significant disruptions affecting New Gold's operations other than
as set out herein; (2) political and legal developments in
jurisdictions where New Gold operates, or may in the future
operate, being consistent with New Gold's current expectations; (3)
prices for diesel, natural gas, fuel oil, electricity and other key
supplies being approximately consistent with current levels; (4)
equipment, labour and materials costs increasing on a basis
consistent with New Gold's current expectations; (4) arrangements
with First Nations and other Aboriginal groups in respect of the
New Afton Mine and Rainy River Mine being consistent with New
Gold's current expectations; (5) all required permits, licenses and
authorizations being obtained from the relevant governments and
other relevant stakeholders within the expected timelines and the
absence of material negative comments or obstacles during any
applicable regulatory processes; (6) there being no significant
disruptions to the Company's workforce at either the Rainy River
Mine or New Afton Mine due to cases of COVID-19 (including any
required self-isolation requirements due to cross-border travel to
the United States or any other
country or any other reason) or otherwise; (7) the responses of the
relevant governments to the COVID-19 outbreak being sufficient to
contain the impact of the COVID-19 outbreak; (8) there being no
material disruption to the Company's supply chains and workforce
that would interfere with the Company's anticipated course of
action at the Rainy River Mine and the New Afton Mine; and (9) the
long-term economic effects of the COVID-19 outbreak not having a
material adverse impact on the Company's operations or liquidity
position.
Forward-looking statements are necessarily based on estimates
and assumptions that are inherently subject to known and unknown
risks, uncertainties and other factors that may cause actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements. Such factors include, without
limitation: price volatility in the spot and forward markets for
metals and other commodities; discrepancies between actual and
estimated production, between actual and estimated costs, between
actual and estimated Mineral Reserves and Mineral Resources and
between actual and estimated metallurgical recoveries; equipment
malfunction, failure or unavailability; accidents; risks related to
early production at the Rainy River Mine, including failure of
equipment, machinery, the process circuit or other processes to
perform as designed or intended; the speculative nature of mineral
exploration and development, including the risks of obtaining and
maintaining the validity and enforceability of the necessary
licenses and permits and complying with the permitting requirements
of each jurisdiction in which New Gold operates, including, but not
limited to: obtaining the necessary permits for the New Afton
C-Zone; uncertainties and unanticipated delays associated with
obtaining and maintaining necessary licenses, permits and
authorizations and complying with permitting requirements,
including those associated with the C-Zone permitting process;
changes in project parameters as plans continue to be refined;
changing costs, timelines and development schedules as it relates
to construction; the Company not being able to complete its
construction projects at the Rainy River Mine or the New Afton Mine
on the anticipated timeline or at all; volatility in the market
price of the Company's securities; changes in national and local
government legislation in the countries in which New Gold does or
may in the future carry on business; controls, regulations and
political or economic developments in the countries in which New
Gold does or may in the future carry on business; the Company's
dependence on the Rainy River Mine and New Afton Mine; the Company
not being able to complete its exploration drilling programs on the
anticipated timeline or at all; disruptions to the Company's
workforce at either the Rainy River Mine or the New Afton Mine, or
both, due to cases of COVID-19 or any required self-isolation (due
to cross-border travel, exposure to a case of COVID-19 or
otherwise); the responses of the relevant governments to the
COVID-19 outbreak not being sufficient to contain the impact of the
COVID-19 outbreak; disruptions to the Company's supply chain and
workforce due to the COVID-19 outbreak; an economic recession or
downturn as a result of the COVID-19 outbreak that materially
adversely affects the Company's operations or liquidity position;
there being further shutdowns at the Rainy River Mine or New Afton
Mine; significant capital requirements and the availability and
management of capital resources; additional funding requirements;
diminishing quantities or grades of Mineral Reserves and Mineral
Resources; actual results of current exploration or reclamation
activities; uncertainties inherent to mining economic studies
including the Technical Reports for the Rainy River Mine and New
Afton Mine; impairment; unexpected delays and costs inherent to
consulting and accommodating rights of First Nations and other
indigenous groups; climate change, environmental risks and hazards
and the Company's response thereto; tailings dam and structure
failures; actual results of current exploration or reclamation
activities; fluctuations in the international currency markets and
in the rates of exchange of the currencies of Canada, the United
States and, to a lesser extent, Mexico; global economic and financial
conditions and any global or local natural events that may impede
the economy or New Gold's ability to carry on business in the
normal course; compliance with debt obligations and maintaining
sufficient liquidity; taxation; fluctuation in treatment and
refining charges; transportation and processing of unrefined
products; rising costs or availability of labour, supplies, fuel
and equipment; adequate infrastructure; relationships with
communities, governments and other stakeholders; geotechnical
instability and conditions; labour disputes; the uncertainties
inherent in current and future legal challenges to which New Gold
is or may become a party; defective title to mineral claims or
property or contests over claims to mineral properties;
competition; loss of, or inability to attract, key employees; use
of derivative products and hedging transactions; counterparty risk
and the performance of third party service providers; investment
risks and uncertainty relating to the value of equity investments
in public companies held by the Company from time to time; the
adequacy of internal and disclosure controls; conflicts of
interest; the lack of certainty with respect to foreign operations
and legal systems, which may not be immune from the influence of
political pressure, corruption or other factors that are
inconsistent with the rule of law; the successful acquisitions and
integration of business arrangements and realizing the intended
benefits therefrom; and information systems security threats. In
addition, there are risks and hazards associated with the business
of mineral exploration, development, construction, operation and
mining, including environmental events and hazards, industrial
accidents, unusual or unexpected formations, pressures, cave-ins,
flooding and gold bullion losses (and the risk of inadequate
insurance or inability to obtain insurance to cover these risks) as
well as "Risk Factors" included in New Gold's most recent annual
information form, MD&A and other disclosure documents filed on
and available on SEDAR at www.sedar.com and on EDGAR at
www.sec.gov. Forward looking statements are not guarantees of
future performance, and actual results and future events could
materially differ from those anticipated in such statements. All
forward-looking statements contained in this news release are
qualified by these cautionary statements. New Gold expressly
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
events or otherwise, except in accordance with applicable
securities laws.
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SOURCE New Gold Inc.