O3 Mining Inc (CVE:OIII) (OTCQX:OIIIF), which aims to become a gold producer in the Val-d'Or region of Québec, has issued its first sustainability report, which sets out the company's environmental, social and governance (ESG) practices.
The company noted that practices and values within the industry have 'changed significantly' and it believes sustainable development must be at the heart of its business strategy as it seeks to build gold mines.
"In building tomorrow's projects, climate change and ESG considerations have to be integrated into our planning from inception to completion. As you will see in this report, sustainable development is an integral part of O3 Mining's strategy," said Myrzah Bello, the company's director of sustainable development in a statement.
Highlights from the report include:
- O3 Mining is committed to the integration of sustainable development practices through safe and ethical work that respects the social, environmental and economic context of the host communities surrounding its projects;
- O3 Mining is committed to work alongside First Nations to ensure the development of its projects will take into consideration their expectations and needs;
- O3 Mining aims to obtain the ECOLOGO certification in 2021;
- O3 Mining seeks to minimize its environmental impact by using state-of-the-art technology, such as artificial intelligence in its exploration phase;
- Since its inception, O3 Mining's mission has been to contribute to local organizations in the areas of education and health;
- O3 Mining aims to achieve a 40% diversity rate on its board of directors by 2022; and
- O3 Mining is committed to ongoing and active monitoring and updating of its ESG objectives. Transparency and responsible practices will guide this process.
Readers can see the full report HERE.
O3 Mining is part of the Osisko group of companies and describes itself as an emerging 'consolidator' of exploration properties in prospective gold camps in Canada, specifically in Québec and Ontario. It wants to become a multi-million-ounce company.
In Québec, the group holds 435,000 hectares of ground, while in Ontario it has 25,000 hectares. Overall, the company already has 5.2 million ounces of gold in six existing deposits in its portfolio.
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