Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or
“the Company”) is pleased to announce the Company’s greenhouse gas
(“GHG”) emissions reduction targets, which include commitments to
reduce absolute Scope 1 and 2 emissions by 37.5% by 2035, to
achieve Net Zero emissions by 2050 and to develop a Scope 3
emissions target by 2025.
Climate Change Commitments
DPM’s GHG reduction targets were developed in
alignment with the latest findings of the Intergovernmental Panel
on Climate Change (“IPCC”) and is consistent with the aspiration of
remaining within a well-below two-degree threshold, as defined by
the Paris Agreement. DPM’s commits to:
- Reducing
DPM’s absolute Scope 1 and Scope 2 greenhouse gas (“GHG”) by 37.5%
by 2035, and achieving Net Zero emissions by 2050; and
-
Developing a Scope 3 emissions target by 2025 and engaging with
existing and potential new partners within DPM’s value chain to
identify and pursue new opportunities that will have a meaningful
impact.
“We have a long track record of actively
managing and improving DPM’s greenhouse gas emissions and energy
use, and our climate change commitments are another step in our
journey to realize our objective of generating a net positive
impact from our operations,” said David Rae, President and Chief
Executive Officer.
“Given our talented people, our experience in
creating trusted partnerships with our stakeholders, as well as our
skills in adding value through innovation, we are confident we can
achieve our climate change ambitions.”
Climate Action and Progress
DPM has actively managed GHG emissions, energy
use and energy intensity since it became an operating company in
2004. Throughout the years, ongoing innovation and investments in
plant upgrades and modernization have yielded significant
improvements, particularly in Scope 1 and 2 emissions, which the
Company has been measuring and reporting since it published its
first Sustainability Report in 2011. Today, DPM’s mining operations
rank among the lowest GHG intensity mines globally.1
In terms of next steps toward achieving its
climate change commitments, DPM has identified several broad
pathways and initiatives at each of its operating sites, including
energy efficiency projects, electrification of mobile equipment,
increasing the use of renewable fuels, and where feasible,
increasing the renewable component of its electricity supply.
DPM also recognizes the need to work with
suppliers and customers along its value chain to develop
collaborative and innovative solutions, which will inform the Scope
3 emissions target that DPM has committed to developing by
2025.
DPM is committed to being transparent on its
progress towards achieving its GHG reduction targets and will
provide additional detail regarding the programs and initiatives it
develops to support these commitments in its 2022 Sustainability
report, which will be published in the first half of 2023.
Climate Change Feature
To provide additional detail regarding the
process and strategy for developing DPM’s targets, the Company has
published a climate change feature entitled “Generate Net Positive
Impact – 2022 Climate Change Targets” and is available on our
website at:
https://www.dundeeprecious.com/English/sustainability/performance-and-reporting/default.aspx
______________1 Source: “Greenhouse Gas Emissions
in Gold Mining,” Sam Ulrich, CSA Global (October
2020): https://www.csaglobal.com/wp-content/uploads/2020/10/Greenhouse-Emissions-in-Gold-Mining_Sam-Ulrich_October_2020.pdf
About Dundee Precious Metals
Inc.
Dundee Precious Metals Inc. is a Canadian-based
international gold mining company with operations and projects
located in Bulgaria, Namibia, Ecuador and Serbia. The Company’s
purpose is to unlock resources and generate value to thrive and
growth together. This overall purpose is supported by a foundation
of core values, which guides how the Company conducts its business
and informs a set of complementary strategic pillars and objectives
related to ESG, innovation, optimizing our existing portfolio, and
growth. The Company’s resources are allocated in-line with its
strategy to ensure that DPM delivers value for all of its
stakeholders. DPM’s shares are traded on the Toronto Stock Exchange
(symbol: DPM).
For further information please contact:
David RaePresident and Chief
Executive OfficerTel: (416) 365-5092drae@dundeeprecious.com
Dr. Nikolay
HristovVice-President, Sustainability and External
RelationsTel: (416) 365-5191nikolay.hristov@dundeeprecious.com
Jennifer CameronDirector,
Investor RelationsTel: (416)
219-6177jcameron@dundeeprecious.com
Cautionary Note Regarding Forward-Looking
Statements
This news release contains “forward looking
statements” or “forward looking information” (collectively,
“Forward Looking Statements”) that involve a number of risks and
uncertainties. 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 “targets”,
“plans”, “expects”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “outlook”, “intends”, “anticipates”,
“believes”, or variations of such words and phrases or that state
that certain actions, events or results “may”, “could”, “would”,
“might” or “will” be taken, occur or be achieved, or the negative
of any of these terms or similar expressions. The Forward Looking
Statements in this news release relate to, among other things:
DPM’s strategy, plans, targets and goals in respect of
environmental, social and governance issues, its climate change and
greenhouse gas emissions reduction targets, the timing of the
development of a Scope 3 emissions target; the implementation and
effectiveness of its greenhouse gas emissions reduction plans and
initiatives, and the realization of such targets and initiatives.
Forward Looking Statements are based on certain key assumptions and
the opinions and estimates of management, as of the date such
statements are made, and they involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any other future results, performance or
achievements expressed or implied by the Forward Looking
Statements. In addition to factors already discussed in this news
release, such factors include, among others, uncertainties inherent
to the ability of the Company to meet sustainability, environmental
and greenhouse gas emissions reduction targets, goals and
strategies, which may be affected by unforeseeable events outside
of its control or business necessities that are not yet known;
continuation or escalation of the conflict in Ukraine; risks
relating to the Company’s business generally and the impact of
global pandemics, including COVID-19; uncertainties and risks
inherent to developing and commissioning new mines into production,
which may be subject to unforeseen delays; uncertainties inherent
with conducting business in foreign jurisdictions where corruption,
civil unrest, political instability and uncertainties with the rule
of law may impact the Company’s activities; accidents, labour
disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion
of development or construction activities; actual results of
current and planned reclamation activities; opposition by social
and non-governmental organizations to mining projects and smelting
operations; unanticipated title disputes; claims or litigation;
increased costs and physical risks, including extreme weather
events and resource shortages, related to climate change; as well
as those risk factors discussed or referred to in the Company’s
annual MD&A and AIF for the year ended December 31, 2021, and
other documents filed from time to time with the securities
regulatory authorities in all provinces and territories of Canada
and available on SEDAR at www.sedar.com. The reader has been
cautioned that the foregoing list is not exhaustive of all factors
which may have been used. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in Forward
Looking Statements, there may be other factors that cause actions,
events or results not to be anticipated, estimated or intended.
There can be no assurance that Forward Looking Statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. The
Company’s Forward Looking Statements reflect current expectations
regarding future events and speak only as of the date hereof.
Unless required by securities laws, the Company undertakes no
obligation to update Forward Looking Statements if circumstances or
management’s estimates or opinions should change. Accordingly,
readers are cautioned not to place undue reliance on Forward
Looking Statements.
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