Ivanhoe Mines (IVN) has published its fourth annual sustainability report, highlighting the company’s ESG initiatives in 2020.
Ivanhoe Mines recently passed the first milestone on its journey to produce the world's "greenest copper," achieving first concentrate production at the Kamoa-Kakula Project in the Democratic Republic of Congo in May 2021.
In her introduction to the report, president and CFO Marna Cloete commended the Ivanhoe family for maintaining unity and strength during a challenging year.
“Despite the strain, grief and challenges presented during the reporting year,” she remarked, “our teams have rallied together, providing their unwavering commitment and support and thereby enabling Ivanhoe […] to foster innovative partnerships and solutions to some of our problems which will have lasting, positive effects for our operations and host communities."
"Long before the Environmental, Social, and Corporate Governance (ESG) movement went mainstream, Ivanhoe committed to being a modern leader in sustainability, environmental stewardship, community partnerships and responsible mineral production," said executive co-chairman Robert Friedland.
Ivanhoe Mines achieved several of its sustainability objectives and targets in 2020, including:
- Addressing diversity and inclusion and Kamoa-Kakula by identifying a Congolese talent pool and designing a fast-track development program
- Implementing local measures to address DRC regulatory requirements for copper production
- Illustrating improvements year-over-year through local enterprise and key local partnerships
- Expanding water wells in more remote locations throughout the community at Kipushi
Several of the company’s 2020 targets are still in progress.
Patricia Makhesha, executive vice president of sustainability and special projects, added, "Ivanhoe's culture is the heartbeat of our organization and is integral to everything that we do. Our culture is one of caring for others, and therefore of operating with the best interests of our key stakeholders in mind.”
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal joint-venture projects in Southern Africa.
Ivanhoe Mines (IVN) holds steady, trading at $8.65 per share as of 10:46 am ET.