MONTREAL, August 27, 2024--(BUSINESS WIRE)--Dynacor Group Inc. (TSX-DNG) (Dynacor or the Corporation), is pleased to present its fourth ESG (environmental, social and governance) report, in accordance with the Global Reporting Initiative (GRI) Standards.

Jean Martineau, President and CEO of Dynacor Group Inc., announced that 2023 was another exceptional year in Dynacor’s history. "We maintained our sustained growth with the production of 130,001 ounces of gold equivalent and, consequentially, our sales increased to US$251.5 million. Likewise, we distributed a value of US$254.8 million in purchases, payments of obligations, investments and taxes," he declared.

International Cyanide Code

During 2023, implementation of the requirements of the International Cyanide Management Code (Cyanide Code) began. "In the second quarter of this year, our subsidiary Veta Dorada became the first company that processes ASM (Artisanal and Small-Scale Mining) gold ore to obtain the International Cyanide Code certification, which fills us with pride. It is a sign of the actions we are implementing as part of our commitment to sustainability," emphasized Jean Martineau.

Relationship with mining suppliers (ASM)

The Corporation noted that its relationship with mining suppliers continued to strengthen. As a result, there was a 34% increase in ore purchases from mining suppliers in Peru (ASM) compared to 2022 (US$201.9 million in 2023 vs. US$150.6 million in 2022).

Traceability and Shared Vision

In 2023, the traceability of gold was consolidated with the Mineral Management System, internal verification system, and on-site visits to mining suppliers. Furthermore, new trends continued to be implemented in governance, environmental protection and relations with the populations of the area of influence in Peru.

In the social sphere, investment was made through the Community Development Program (Veta Dorada Subsidiary) and Fidamar (International Fund for Artisanal Miners), whose funds come from the PX Impact^? Program.

"With a shared vision, we invested US$105,958 in communities, in health, nutrition, education, environmental management, basic infrastructure, and development and building of capacities in local institutions, benefiting more than 15,684 people. And through Fidamar we allocated US$527,300, which directly benefited more than 9,000 people, including children and adults from artisanal mining communities," said Jean Martineau.

Within the environmental management of our operations, he indicated, we have registered important achievements such as an 18% reduction in water consumption intensity and we operate with zero effluents. In addition, 51% of our global energy consumption was from renewable sources and we started measuring our Scope 3 greenhouse gas emissions.