TORONTO, ONTARIO--(Marketwired - March 9, 2017) -
Teranga Gold Corporation ("Teranga" or the "Company") (TSX:TGZ)(ASX:TGZ) was officially awarded the 2017 Environmental & Social Responsibility Award at the PDAC Awards Gala on Tuesday evening. The Award recognizes Teranga's outstanding leadership and commitment to making lasting contributions to the communities surrounding its Sabodala Gold Mine in Senegal, West Africa.
"We believe that our success is tied to the achievement of the goals of our host communities and our reputation as a responsible partner in sustainable resource development," said Richard Young, President and CEO, Teranga. "On behalf of our directors, employees, investors, and the local communities in which we operate, we are proud to accept this recognition of our commitment to responsible mining and building a strong social license in West Africa."
Since 2009, Teranga has worked with government and nearby communities to establish initiatives that contribute to the environment and region for the long-term. They include investing a minimum of $1.2 million annually in a community social fund to advance sustainable community development projects, supporting small businesses through local procurement, and delivering more than 40 training programs to develop employee skills, literacy and numeracy.
"The Government of Senegal has a very good relationship with Teranga based on a win-win approach and shared support of the mining industry. Teranga understands that they need to not only invest for their shareholders, but also invest in the agriculture, education and training for the local communities," said Mr. Ousmane Cisse, Director of Mines and Geology, Government of Senegal. "Teranga is the flagship company in the gold sector, and the PDAC Award shows to all companies mining in Senegal that responsible mining is the way forward."
Looking ahead to 2017, Teranga aims to replicate its successful sustainable development programs at its recently acquired projects in Burkina Faso.
"Teranga's commitment to maintaining a strong social license in West Africa was a key reason I invested in the company," said David Mimran, a cornerstone investor and director at Teranga and a leading business owner in West Africa. "Teranga and the Mimran Group have a shared vision to maximize long-term sustainable values through responsible business practices. We congratulate the management of Teranga for their achievements."
(L to R) Richard Young, President & CEO, Ousmane Cisse, Director of Mines & Geology, Government of Senegal, Alan Hill, Chairman of the Board, and Aziz Sy, General Manager, Sabodala Gold Operations, at the PDAC Awards Gala reception on March 7, 2017.
For more on Teranga's approach to responsible mining, visit www.terangagold.com/English/responsibility.
Teranga is a multi-jurisdictional West African gold company focused on production and development as well as the exploration of more than 5,000km2 of land located on prospective gold belts.
Since its initial public offering in 2010, Teranga has produced more than 1.2 million ounces of gold from its operations in Senegal. Following its recent acquisition of Gryphon Minerals, the Company is fast-tracking the completion of a feasibility study for the Banfora Project. Concurrent with its production and development activities, exploration programs are underway to seek to increase the Company's reserve base through resource conversion and making new discoveries. Teranga has a strong balance sheet and the financial flexibility to continue to grow its business.
Steadfast in its commitment to set the benchmark for responsible mining, Teranga operates in accordance with the highest international standards and aims to act as a catalyst for sustainable economic, environmental, and community development as it strives to create value for all of its stakeholders. Teranga is a member of the United Nations Global Compact and a leading member of the multi-stakeholder group responsible for the submission of the first Senegalese Extractive Industries Transparency Initiative revenue report. The Company's 2015 responsibility report, which is available at www.terangagold.com/2015responsibilityreport, is prepared in accordance with its commitments under the United Nations Global Compact and in alignment with the Global Reporting Initiative guidelines.