Ecuadorian-focused junior Salazar Resources Limited (CVE:SRL) and its partner Adventus Mining Corporation (CVE:ADZN) are ensuring that the local community surrounding the Curipamba copper-gold project is benefitting from operations in the area, the companies told shareholders on Wednesday.
Curipamba covers over 21,500 hectares in central Ecuador.
Local programs surrounding the project area are designed to encourage education, capacity building, environmental protection and economic development.
READ: Salazar Resources and Adventus Mining complete geophysical survey of Curipamba copper-gold project
Initiatives are run by Ecuadorian company Curimining SA, whose staffers are all members and residents of the community.
Through Curimining, Salazar and Adventus signed a partnership with Escuela Superior Politécnica del Litoral, a public university in Guayaquil, that aims to strengthen research and development programs in STEM-related areas to help develop a modern mining sector in Ecuador.
Curimining also collaborated with a local agricultural company to help develop a cooperative of young professionals to promote local agribusiness in the Curipamba region.
Additionally, the miners have built and maintained a local greenhouse facility and supported local arts, sports and culture projects in the community.
In 2019, Adventus and Salazar brought on a new strategic investor in the form of the Nobis Group, one of Ecuador’s largest conglomerates and a long-term supporter of the Curipamba project. The partners and Curimining are actively working with the Nobis Foundation to look at new regional economic and educational opportunities for the Curipamba communities.
Advancing responsibility standards
The ongoing focus on corporate social responsibility is in part inspired by the World Gold Council's Responsible Gold Mining Principles as guidelines for the company's exploration and project development activities, Adventus told investors in a statement.
As an example, Adventus has evaluated its various business activities and has begun to measure environmental, social and corpoate governance (ESG) progress by initiating an internal report card, it told investors.
“Together with Salazar and Curimining, Adventus aims to continually advance the understanding and applications of ESG standards to its projects, teams and local stakeholders in Ecuador,” the company said in a statement.
“The partners and Curimining are committed to providing tangible benefits to the communities closest to the Curipamba project.”
Salazar Resources is a leading project generation company focused on discovering and advancing mineral opportunities in Ecuador.
It has an earn-in agreement on the Curipamba volcanic massive sulphide project whereby its partner can earn 75% of the project by funding exploration and development expenditures of US$25 million before 2023.
A feasibility study is expected to be completed during 2021.
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