Sherritt Releases its 2020 Sustainability Report and Upgraded ESG Targets

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt International Corporation ("Sherritt") (TSX: S) today released its 2020 Sustainability Report, outlining the Company's recent performance on environmental, social, and governance (ESG) matters and upgraded targets and commitments, including achieving net-zero emissions by 2050.

"Sherritt has a long and positive track record of sustainable activities in the communities in which we operate," said Leon Binedell, President and CEO of Sherritt International. "We extended this performance in 2020 by making progress on a number of our ESG commitments, including achieving zero fatalities at our operations and implementing additional health and safety measures to protect employees at our operations from COVID-19. We plan to extend this momentum through a number of upgraded ESG targets in the near and longer terms as well through the role our nickel and cobalt products and Technologies capabilities will play in reducing carbon emissions in the years ahead."

Sherritt's 2020 Sustainability highlights include:

  • Experienced zero work-related fatalities at our operations and in our local communities.
  • Continued peer-leading reductions in injury rates, with a Total Recordable Incident Frequency Rate (TRIFR) decrease of 49% and a Lost Time Incident Frequency Rate (LTIFR) decrease of 63% over three years.
  • Maintained safe and full production despite the COVID-19 pandemic by utilizing an essential workforce as permitted by local public health guidance.
  • Implemented a number of additional health and safety measures designed to protect employees, contractors, suppliers and other stakeholders at our operations from COVID-19.
  • Generated more than $500 million in economic benefits for host communities and countries.
  • Sherritt's community investments were aligned with local priorities. Donations in-kind consisted of items such as refrigeration equipment for educational and public health centres, road maintenance equipment, and equipment to increase potable water supply.
  • Completed a conflict-affected and high-risk areas (CAHRA) assessment based on OECD guidance that concluded that Sherritt, its subsidiaries, and the Moa Joint Venture do not source from, produce in, or transit through CAHRAs. This assessment was independently validated.
  • Signed the BlackNorth Initiative Pledge.
  • Experienced no security incidents involving allegations of human rights abuses at any of Sherritt's operations.

Sherritt's upgraded ESG Targets include:

  • Achieving net carbon neutrality by 2050.
  • Ensuring that 36% of employees are female by 2030, doubling the total from 2019.
  • Reducing overall greenhouse gas (GHG) emissions intensity by 10% by 2030.
  • Generating 15% of our overall energy needs through renewable sources by 2030.
  • Aligning 100% of our community investments with local priorities by 2024.

Sherritt's 2020 Sustainability Report, which was prepared in accordance with the Global Reporting Initiative's (GRI) Standards and with the Sustainability Accounting Standards Board (SASB) Metals and Mining Standard, is available online at https://sustainability.sherritt.com .

About Sherritt

Sherritt is a world leader in the mining and refining of nickel and cobalt – metals essential for the growing adoption of electric vehicles. Its Technologies Group creates innovative, proprietary solutions for oil and mining companies around the world to improve environmental performance and increase economic value. Sherritt is also the largest independent energy producer in Cuba. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol "S".

Joe Racanelli, Director of Investor Relations
Email: investor@sherritt.com
Telephone: (416) 935-2457
www.sherritt.com

News Provided by Business Wire via QuoteMedia

The Conversation (0)

Sherritt Announces Changes to its Board of Directors

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) is pleased to announce the appointments of Louise Blais and Steven H. Goldman to its Board of Directors effective immediately. The appointments of Ms. Blais and Mr. Goldman are in accordance with Sherritt's Board succession planning with the retirements of Maryse Belanger and John Warwick, both of whom are not seeking re-election at the Corporation's 2024 Annual General Meeting ("AGM"). Ms. Belanger will be retiring from the Board as of today and Mr. Warwick will be retiring from the Board at the AGM on May 9, 2024.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
International Cobalt Announces $5.3M Debt Settlement

International Cobalt Announces $5.3M Debt Settlement

International Cobalt Corp. (" International Cobalt " or the " Company ") advises that it has entered into a settlement agreement dated February 28, 2024, with Tantalex Lithium Resources Corp. (" Tantalex ") to settle an amount of CDN$5,324,275.30 owed to the Company (the " Settlement Agreement "). The Settlement Agreement stems from multiple unsecured convertible debentures in principal amounts of USD$2,100,000 and CDN$800,000 entered into between the parties in 2018 and in 2020 bearing an interest rate of 4% that became due in November of 2022 (the " Debt ").

Under the terms of the Settlement Agreement, the Debt was settled with an aggregate 106,485,506 common shares in the capital of Tantalex (the " Tantalex Shares ") issued at a price of CDN$0.05 per Tantalex Share and 50,000,000 common share purchase warrants (the " Tantalex Warrants "). Each Tantalex Warrant is exercisable by the Company to acquire 50,000,000 Tantalex Shares at a price of $0.10 for a period of thirty (30) months from issuance (the " Debt Settlement ").

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Edison Lithium Receives Court Approval for Edison Cobalt Spin-Out

Edison Lithium Receives Court Approval for Edison Cobalt Spin-Out

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that on March 1, 2024, the Supreme Court of British Columbia issued its final order approving the Company's previously announced plan of arrangement (the "Arrangement") involving its wholly-owned subsidiary, Edison Cobalt Corp. ("Edison Cobalt"). For details regarding the Arrangement, see the news releases of the Company dated March 28, 2023, July 13, 2023, November 28, 2023, December 7, 2023, February 1, 2024 and February 27, 2024.

The Company will announce the share distribution record date and the exact number of Edison Cobalt shares issuable at a later date. The Arrangement remains subject to final acceptance by the TSX Venture Exchange ("TSXV").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Edison Lithium Announces Results of Annual General and Special Meeting

Edison Lithium Announces Results of Annual General and Special Meeting

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce the results of its annual and general special meeting of securityholders (the "Meeting") held on February 26, 2024.

At the Meeting, the shareholders of the Company approved all resolutions placed before them by management as set out in the Company's management information circular dated January 12, 2024, and the related addendum dated January 31, 2024, including: (i) fixing the number of directors at five and electing Nathan Rotstein, James (Jay) Richardson, Luisa Moreno, Gordon Jang, and Roger Dahn as directors of the Company for the ensuing year; (ii) the re-appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as auditor of the Company for the ensuing year at a remuneration to be fixed by the directors; (iii) the continuation of the Company's 2022 stock option plan; (iv) the ratification of the grant of 915,000 stock options granted to directors and officers of the Company on September 7, 2023; (v) the statutory plan of arrangement (the "Plan of Arrangement") among the Company, the Company's securityholders and Edison Cobalt Corp. ("SpinCo"), a wholly owned subsidiary of the Company (which, in addition to the shareholders of the Company, was approved by the warrantholders and optionholders of the Company); (vi) the disposition of all or substantially all of the Company's undertaking; (vii) the adoption of SpinCo's stock option plan; and (vii) the proposed private placement financing of SpinCo.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Edison Lithium Proceeds with Warrant Repricing

Edison Lithium Proceeds with Warrant Repricing

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that it is proceeding with the proposed warrant amendments initially announced on September 6, 2023. The Company had previously announced the cancellation of the proposed warrant amendments on January 2, 2024, but after further consideration and additional consultation with the TSX Venture Exchange ("TSX-V"), the Company will proceed to amend the exercise terms of an aggregate 3,926,125 common share purchase warrants out of a possible 4,048,000 warrants issued pursuant to private placements that closed on February 26, 2021, May 7, 2021 and May 28, 2021, subject to TSX-V final approval.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Fortune Minerals (TSX:FT)

Fortune Minerals


Keep reading...Show less

Latest Press Releases

Related News

×