Growing Responsibly is Capstone's inaugural sustainability report as a combined company, continuing a practice established by its predecessor companies. The report has been prepared in accordance with the
2022 Sustainability Report Highlights
We underwent a steady and deliberate embedding of responsible practices in all areas. Some of our highlights from 2022 include: We adopted a Sustainable Development Strategy (the 'Strategy'), which will guide our future growth. The Strategy serves as a blueprint to ensure alignment with our vision and values. It is supported by five strategic priorities (Climate, Water, Tailings, Biodiversity, and Communities), each of which has meaningful targets.
We continued to invest in significant development projects to extend the life of our mines and to make our operations more efficient and competitive. The expansion of the Mantos Blancos sulphide processing plant was completed in
In our first year of reporting as a combined company, we not only integrated our sustainability data streams but enhanced our disclosure as well. We have included more in-depth commentary on processes for community engagement and biodiversity management. We report sustainability metrics for all sites with three years of data.
Some 2021-2022 data trends include: Total water consumption remained steady at 18.3 million cubic metres while total freshwater use decreased by 14% (from 21% to 18%) primarily due to increased pit dewatering at
Total energy use rose by 12% due to increases in both fuel (13%) and electricity (11%) use, mainly driven by fuel for capital projects and electricity for new facilities. However, overall GHG emissions decreased by 1% due to significant reductions in emissions from both the
Per 200,000 hours in 2022, our Lost Time Injury Frequency Rate (LTIFR) was 0.15 and our Total Reportable Injury Frequency Rate (TRIFR) was 0.21. These metrics improved across most sites, falling 35% and 33% respectively, attributable to the emphasis on proactive safety management practices.
Capstone's combined workforce grew by 36% to 8,425 over 2021, driven by the temporary workforce needs of key development and construction projects. Capstone's employee demographics remained relatively constant, with 8% women. Global new hire rate (22%) and turnover rate (14%) both decreased in 2022 by 28% and 7% respectively, which is an indication of a relatively stable employee workforce.
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Cautionary Note Regarding Forward-Looking Statements
This document may contain 'forward-looking information' within the meaning of Canadian securities legislation and 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, 'forward-looking statements'). These forward-looking statements are made as of the date of this document and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation.
Forward-looking statements relate to future events or future performance and reflect our expectations or beliefs regarding future events. Our Sustainable Development Strategy goals and strategies are based on a number of assumptions, including, but not limited to, the biodiversity and climate-change consequences; availability and effectiveness of technologies needed to achieve our sustainability goals and priorities; availability of land or other opportunities for conservation, rehabilitation or capacity building on commercially reasonable terms and our ability to obtain any required external approvals or consensus for such opportunities; the availability of clean energy sources and zero-emissions alternatives for transportation on reasonable terms; availability of resources to achieve the goals in a timely manner, our ability to successfully implement new technology and the performance of new technologies in accordance with our expectations.
In certain cases, forward-looking statements can be identified by the use of words such as 'anticipates', 'approximately', 'believes', 'budget', 'estimates', expects', 'forecasts', 'guidance', intends', 'plans', 'scheduled', 'target', or variations of such words and phrases, or statements that certain actions, events or results 'be achieved', 'could', 'may', 'might', 'occur', 'should', 'will be taken' or 'would' or the negative of these terms or comparable terminology. In this document certain forward-looking statements are identified by words including 'anticipated', 'expected', 'guidance' and 'plan'. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, amongst others, risks related to inherent hazards associated with mining operations, availability and quality of water, operating in foreign jurisdictions with risk of changes to governmental regulation, compliance with governmental regulations, compliance with environmental laws and regulations, reliance on approvals, licences and permits from governmental authorities and potential legal challenges to permit applications, contractual risks, impact of climate change and changes to climatic conditions at our operations and projects, changes in regulatory requirements and policy related to climate change and greenhouse gas ('GHG') emissions, land reclamation and mine closure obligations, introduction or increase in carbon or other 'green' taxes, aboriginal title claims and rights to consultation and accommodation, risks relating to widespread epidemics or pandemic outbreaks; the impact of communicable disease outbreaks on our workforce, risks related to construction activities at our operations and development projects, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, including our ability to access goods and supplies, the ability to transport our products and impacts on employee productivity, the risks in connection with the operations, cash flow and results of
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