OceanaGold 2024 Sustainability Report Overview
OceanaGold Corporation, a prominent player in the gold and copper production sector, has released its annual Sustainability Report, detailing the company’s progress and achievements for the year ending December 31, 2024. This report is a testament to OceanaGold's commitment to integrating sustainable practices into its operations and making a positive impact on the communities where it operates.
Progress in Sustainability Commitment
As stated by Gerard Bond, the President and CEO of OceanaGold, 2024 marked a significant year in the company's sustainability journey. Their focus is not merely on mining but on doing so for a better future, aligning operations with a strategic framework that emphasizes safety, responsibility, and community values. The company aims to ensure a comprehensive sustainability approach that benefits all stakeholders involved.
Megan Saussey, the Chief Sustainability Officer, highlighted that the past year was crucial for implementing the updated three-year Sustainability Strategy. This plan aims to fortify responsible business practices and ensure consistent performance across all operational segments.
Key Achievements for 2024
OceanaGold’s 2024 Sustainability Report outlines several noteworthy outcomes, including:
- - Sustainability Ratings: The company maintained an MSCI “AA” rating and was recognized as a “Leader” in sustainability practices.
- - Strategic Implementation: The commencement of its three-year sustainability strategy, building stronger foundations for responsible operations.
- - Safety Improvements: The organization developed and instituted Safety Improvement Plans, leveraging lessons learned from two unfortunate fatalities that occurred during the year. This underscores OceanaGold's commitment to worker safety and risk management.
- - Employee Engagement: A remarkable employee engagement score of 80% was achieved in their 2024 Culture Survey, which is 8% above the global mining and metals benchmark. This reflects a strong employee connection and satisfaction with the working environment at OceanaGold.
- - Environmental Stewardship: The organization celebrated a continuous record of zero material environmental incidents and rehabilitated over 100 hectares of disturbed land, exceeding the area disturbed in 2024 by 30%.
- - Community Engagement: OceanaGold conducted around 250 facilitated engagements with Iwi groups (Māori Peoples) interested in the Waihi North Project in New Zealand, showcasing their commitment to community involvement and cultural sensitivity.
- - Local Economic Contributions: The company spent over USD 193 million with local suppliers and contributed USD 11 million to social investments and partnerships, along with USD 125 million in taxes and royalties to host governments, emphasizing their role in economic development.
- - Water Management: Impressively, 70% of the company’s water needs were met through reused or recycled water, showcasing their resource efficiency efforts.
Looking Ahead
OceanaGold is dedicated to advancing its sustainability initiatives and ensuring that its practices meet and exceed industry standards. With an unwavering commitment to environmental, social, and governance principles, the company anticipates further progress in its operations and community relations in the coming years.
Links to OceanaGold's Sustainability-related Reports:
About OceanaGold
OceanaGold is a growing intermediate gold and copper producer. The company is committed to maximizing Free Cash Flow from its operations while delivering strong returns for shareholders. OceanaGold operates four mines: Haile Gold Mine in the USA, Didipio Mine in the Philippines, Macraes, and Waihi in New Zealand, and aims to continue its growth trajectory while adhering to high sustainability standards.