About this Report
On Pan American Silver’s 25th year of operation, we are proud to release our 10th annual sustainability report. These reports communicate our vision of sustainability, share how we address sustainable development in the context of our business, disclose how we manage environmental, workplace and social issues, and demonstrate progress toward our sustainability goals and initiatives. Reporting also allows us and stakeholders to benchmark our performance against industry peers.
Throughout this report, we refer to Pan American Silver Corp. as Pan American Silver or the Company and use the terms we, us and our to refer to Pan American Silver Corp. and its subsidiaries.
The intended audience for this report is our stakeholders, which we refer to as communities of interest, or COIs. This group includes shareholders, employees and contractors, unions, local communities, governments, suppliers, industry associations and regulatory agencies, non-governmental organizations, and civil society. Environmental, Social and Governance (ESG) focused investors are increasingly a part of our audience.
Content and Scope
We regularly engage with COIs to identify the issues that are most important to them. This report describes our management approach and performance with respect to these issues within the context of our overall sustainability and business strategies.
Pan American Silver acquired Tahoe Resources Inc. (Tahoe or Tahoe Resources) on February 22, 2019. Tahoe’s mines have been incorporated into our reporting. With this acquisition, we have adapted our sustainability performance reporting while maintaining our core values. Consequently, this report includes additional sustainability disclosures and information on our practices.
The scope of this report covers our nine mining operations:
- Timmins West and Bell Creek operation in Canada
- La Colorada and Dolores in Mexico
- Huaron, La Arena, Morococha, and Shahuindo in Peru
- Manantial Espejo in Argentina
- San Vicente in Bolivia
Our Escobal mine in Guatemala is on care and maintenance, and our Alamo Dorado mine in Mexico is in post-closure. However, certain operating, people management, economic, environmental, and social data for these mines and properties are included in this report. Our other development projects and exploration sites are excluded from the scope of this report, with the exception of certain data and information related to safety and people management. When applicable, we include information and data regarding our headquarters in Vancouver and our regional offices.
|Reporting period||January 1 to December 31, 2019; reporting performed annually.|
|Date of last report||May 2019|
|Reporting framework||This report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards: core option and GRI Mining & Metals Sector Disclosures. The GRI content index can be found here.|
|Changes in reporting||This report now includes four new operations, which were acquired during 2019: Timmins West and Bell Creek; La Arena; Shahuindo; and Escobal.|
However, there are no significant changes in material topics or topic boundaries from the 2018 report.
|Data and assurance||Pan American Silver acquired Tahoe Resources in February 2019. We have included aggregated data from the Tahoe mines for January and February 2019. For certain indicators, trend data have been shown for the six silver mines in existence prior to Pan American Silver’s acquisition of Tahoe.|
Data have been reviewed internally at both the site and corporate office levels. Certain economic data have been extracted from our 2019 audited annual financial statements.
Data are reported using the metric system and US dollars.
|Additional information||In addition to annual sustainability reports, we disclose our operating and financial results on a quarterly and annual basis, along with details of exploration and development projects that will sustain our future business. These reports are available on our website.|
|Contact||We welcome any feedback related to this report. Please direct your comments or questions to Brent Bergeron, Senior Vice President, Corporate Affairs and Sustainability or to Monica Moretto, Vice President of Social Sustainability, Inclusion and Diversity at firstname.lastname@example.org|
- Our Dolores mine was the recipient of the Chairman’s Safety Award for best overall safety performance.
- We achieved a step change in our climate change strategy by completing our first estimate of our value chain (Scope 3) greenhouse gas emissions, and a scenario analysis of the climate resilience of our business.
- We successfully completed the first cycle of independent safety reviews at all our operating tailings facilities.
- We finished the active closure of our Alamo Dorado mine and transitioned the property to post-closure monitoring and maintenance.
- We improved the water use intensity of our silver segment operations and reduced our company-wide water use intensity through the addition of the gold segment operations.