Torex Gold Resources (TSX: TXG) announced the release of its inaugural climate change report, aligned with the recommendations of the Task Force on Climate-Related Financial Disclosure (TCFD). The report includes greenhouse gas (GHG) emissions reduction targets in support of its overall commitment to achieve net-zero GHG emissions by 2050, which include a 10% reduction in absolute emissions; and a 25% reduction in business as usual emissions.
The company also confirms that it has received permitting approval from Mexico’s secretariat of environmental and natural resources (SEMARNAT) for construction of a new 8.7 MW solar plant on its Morelos property. In addition, the Torex will be awarding a contract to support its primary production with a new BEV load-haul-dump fleet at its Media Luna project. The company claims that both initiatives are “key pillars” on the pathway to credibly achieve if GHG reduction goals.
Jody Kuzenko, president & CEO of Torex said, Our targets are supported by a clear and credible pathway, which includes a set of planned, approved and funded measures to 2030 that will allow us to produce meaningful emissions reductions through an absolute reduction in GHG emissions, while bringing the Media Luna project into commercial production in 2025 – a project that will deliver one of Mexico’s largest underground mines.”
Discovered in 2012, Torex’s Media Luna project didn’t receive approval until earlier this year and is expected to begin commercial production in 2025. As of April 30, 2021, the Media Luna deposit shows an indicated resource of 3.54 million gold equivalent ounces (20.9 million tonnes at a gold equivalent grade of 5.27 g/t) and a gold equivalent inferred resource of 2.48 million ounces (18.9 million tonnes at 4.08 g/t). The current mineral resource estimate is reported using a long-term gold price of $1,550/oz, silver price of $20/oz, and copper price of $3.50/lb.
In 2022, approximately $19 million is budgeted for infill and step-out drilling at Media Luna as well as an initial infill drill program at the adjacent EPO deposit. A total of 64,000 metres of drilling is budgeted at Media Luna in 2022.
For more information visit www.torexgold.com.