PROVIDES CORPORATE ACTIVITIES UPDATE
(All dollar figures are in US dollars unless otherwise
indicated)
TORONTO, June 4, 2024
/PRNewswire/ - New Gold Inc. ("New Gold" or the
"Company") (TSX: NGD) (NYSE American: NGD) is pleased to announce
the publication of its 2023 Environmental, Social and Governance
Reports (the "2023 ESG Reports") and its 2023 Task Force on
Climate-Related Financial Disclosures Report (the "TCFD Report").
New Gold has published an annual ESG Report since 2015 (formerly,
the Sustainability Report), reporting on the sustainability-related
material topics that matter most to our stakeholders. The 2023 ESG
Report and TCFD Report are available on New Gold's Sustainability
Microsite, accessible through www.newgold.com.
"New Gold's impressive sustainability performance in 2023 was
made possible by the dedicated teams working on the ground to
advance our environmental, social and governance performance,"
stated Patrick Godin, President and
CEO. "These 2023 ESG Reports capture our achievements over the past
year, but they also showcase the spirit of who we are. At New Gold,
we live by our Core Values and our notable performance is an
embodiment of these practices. I am proud of our team for their
shared achievements in 2023 and look forward to continuing to embed
ESG into our operations as One New
Gold."
Gillian Davidson, Chair of
Technical and Sustainability Committee, commented "As a company,
sustainability is core to our strategy and decision making. I am
pleased to see the progress of our work and the release of New
Gold's 2023 ESG Reports. These reports demonstrate our commitments
and priorities in embedding sustainability throughout the
organization. During the year, the New Gold team have worked
collaboratively internally and externally to advance us towards our
sustainability goals, and I congratulate them on a successful
year."
New Gold's 2023 ESG Reports were prepared in alignment with the
Global Reporting Initiative (GRI) Standards, the Sustainability
Accounting Standards Board (SASB) Metals and Mining Standards, the
Mining Local Procurement Reporting Mechanism (LPRM) and Task Force
on Climate-Related Financial Disclosures (TCFD)
recommendations.
2023 ESG Highlights
- Across operations, New Gold achieved a 4% reduction in scope 1
and scope 2 greenhouse gas emissions from 2022, with an overall 8%
reduction from New Gold's 2020 baseline year. The reductions were
achieved through an increase in the use of battery electric
production vehicles at New Afton and increased emissions tracking
and mitigation practices at Rainy
River.
- Reduction in water withdrawal by 50% across operations. While
this reduction is partially associated with below average
precipitation, significant work was accomplished to reduce the
volume of water required in operations.
- New Gold's total recordable injury frequency rate ("TRIFR")
decreased from 0.95 in 2022 to 0.80 in 2023, achieving the lowest
consolidated TRIFR in New Gold history. This performance
exemplifies New Gold's safety-first culture and what it means to
have the Courage to Care.
- Indigenous employees represent 25% of New Gold's workforce
across operations. The Company is committed to engaging in ways
that foster respectful relationships that are built on trust and
acceptance and promote Indigenous cultural awareness throughout its
operations.
- New Gold contributed over C$1,000,000 to non-governmental agencies,
charities and research institutions in 2023. Striving to go beyond
traditional philanthropic practices, New Gold support helps to
create long term economic growth and social development in local
communities.
Strategic Partnership Agreement
with Ontario Teachers' Pension Plan Successfully Closed
The previously announced strategic partnership agreement with
Ontario Teacher's Pension Plan at the New Afton Mine closed at the
end of May. The previously announced partnership increased
New Gold's effective free cash flow interest in the New Afton Mine
increased to 80.1%. Ontario Teachers' free cash flow interest in
New Afton has now reduced from 46.0% to 19.9% in exchange for an
upfront cash payment of $255 million
from New Gold.
About New Gold
New Gold is a Canadian-focused intermediate mining company with
a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New
Afton copper-gold mine. The Company also holds other
Canadian-focused investments. New Gold's vision is to build a
leading diversified intermediate gold company based in Canada that is committed to the environment
and social responsibility.
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SOURCE New Gold Inc.