Vancouver, British Columbia – June 19, 2025 – In a significant move towards enhancing corporate responsibility, MAG Silver Corp. (TSX / NYSE American: MAG) has unveiled its fourth annual Sustainability Report. This comprehensive document underscores the company’s unwavering commitment to environmental, social, and governance (ESG) principles, showcasing its achievements and future goals in sustainability.
A Journey Towards Sustainability
Jim Mallory, MAG’s Chief Sustainability Officer, emphasized the company’s progress on its sustainability journey. He stated, “By empowering our people and engaging stakeholders, we’ve built stronger relationships and attained a clearer direction on our path to climate action.” This proactive approach has not only raised awareness but has also identified opportunities for improvement, reinforcing MAG’s commitment to environmental stewardship and safety.
George Paspalas, MAG’s President and CEO, echoed this sentiment, highlighting the resilience the company has shown in overcoming challenges while strengthening its commitment to sustainability and stakeholder value. The report lays a solid foundation for continued success in 2025 and beyond.
Key Highlights of the 2024 Sustainability Report
The 2024 Sustainability Report is rich with data and insights, reflecting MAG Silver’s dedication to responsible mining practices. Here are some of the standout achievements:
Safety Improvements: There has been a notable three-year decline in leading safety indicators at the Juanicipio Mine, including lost time injury frequency rates and total reportable injury frequency rates. Over 102,000 hours were dedicated to safety training across all MAG Silver sites, emphasizing the company’s commitment to employee well-being.
Environmental Stewardship: The report proudly notes zero significant environmental incidents at the Juanicipio Mine, Deer Trail Project, and Larder Project. This achievement highlights MAG’s effective environmental management practices.
Social Responsibility: A human rights due diligence internal assessment tool was developed to strengthen social responsibility efforts. Positive social license metrics were recorded at the Larder Project, indicating strong community support and engagement.
Diversity and Inclusion: MAG Silver surpassed its target of having 30% female representation on its Board of Directors, achieving 38%. This commitment to diversity, equity, and inclusion is a cornerstone of the company’s governance strategy.
Engaging Stakeholders
MAG Silver extends its gratitude to various teams, including those at Fresnillo and the Juanicipio team, for their invaluable contributions to the report. The company actively encourages feedback from stakeholders, inviting comments and requests for more information to foster transparency and collaboration.
Looking Ahead: Future Goals and Challenges
As MAG Silver continues its sustainability journey, the company is focused on several key areas:
Climate Action: The company is committed to developing a regional climate model and updating its climate risk assessment for the Juanicipio Project. This proactive approach aims to mitigate the impacts of climate change on operations.
Community Engagement: Maintaining positive relationships with local communities is crucial. MAG Silver recognizes the importance of community support in its operations and aims to enhance its engagement strategies.
Governance and Risk Management: The company is dedicated to improving governance practices, particularly in relation to diversity, equity, and inclusion initiatives. This includes managing risks associated with cybersecurity and other emerging challenges.
Conclusion
MAG Silver Corp.’s 2024 Sustainability Report is a testament to the company’s commitment to responsible mining and corporate transparency. By prioritizing safety, environmental stewardship, social responsibility, and diversity, MAG Silver is not only setting a benchmark for the mining industry but also paving the way for a sustainable future. As the company looks ahead to 2025, its focus on continuous improvement and stakeholder engagement will be key to achieving its ambitious sustainability goals.
For more information, the full report and additional ESG data can be accessed on the MAG Silver website.
English 