The award recognises Teranga Gold’s “outstanding leadership and commitment” to making lasting contributions to the communities surrounding its Sabodala gold mine in Senegal, West Africa.
“We believe that our success is tied to the achievement of the goals of our host communities and our reputation as a responsible partner in sustainable resource development,” said Richard Young, president and CEO of Teranga Gold.
“On behalf of our directors, employees, investors, and the local communities in which we operate, we are proud to accept this recognition of our commitment to responsible mining and building a strong social license in West Africa.”
Since 2009, Teranga has worked with government and nearby communities to establish initiatives that contribute to the environment and region for the long-term.
They include investing a minimum of $1.2 million annually in a community social fund to advance sustainable community development projects, supporting small businesses through local procurement, and delivering more than 40 training programmes to develop employee skills, literacy and numeracy.
“The government of Senegal has a very good relationship with Teranga Gold based on a win-win approach and shared support of the mining industry.
“Teranga Gold understands that it needs to not only invest for their shareholders, but also invest in the agriculture, education and training of the local communities,” said Ousmane Cisse, director of mines and geology, government of Senegal.
“Teranga Gold is the flagship company in the gold sector, and the PDAC Award shows all companies mining in Senegal that responsible mining is the way forward.”
Looking ahead to 2017, Teranga Gold aims to replicate its successful sustainable development programmes at its recently acquired projects in Burkina Faso.
“Teranga Gold’s commitment to maintaining a strong social license in West Africa was a key reason I invested in the company,” said David Mimran, a cornerstone investor and director at Teranga Gold and a leading business owner in West Africa.
“Teranga Gold and the Mimran Group have a shared vision to maximise long-term sustainable values through responsible business practices. We congratulate the management of Teranga Gold for its achievements.”