Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX/NYSE
American: SVM) is pleased to report that its TLP, LME, LMW and HPG
mines in the Ying Mining District, Henan Province, and GC mine,
Guangdong Province, have been certified as “green mines” in China.
A "green mine" is a certification awarded to mines that minimize
adverse impacts on the environment and adopt scientific design and
measures to ensure sustainable development from mine development to
closure.
Generally, a “green mine” designation allows for
a more favourable treatment from different levels of government,
including in relation to priority rights to mining resources,
improved land security for mine construction, and finance and tax
support through coordinated policies.
Certification StatusOn October
23, 2020, the TLP, LME, LMW and HPG mines passed a six day, on-site
inspection and assessment by an independent third party appointed
by the Department of Natural Resources of Henan Province, with
scores exceeding 80%, and were enlisted as “National Green Mines”.
Final certification will be issued by the Ministry of Natural
Resources of China.
The GC mine also passed an independent, on-site
inspection and assessment to be enlisted as a “National Green Mine”
by the Department of Natural Resources of Guangdong Province on
September 26, 2020.
Silvercorp’s SGX and HZG mines both received the
designation of “National Green Mine” in November 2015.
Review and
Assessment Process
To qualify as a “National Green Mine”, amongst
other things, the mine owner must not have been penalized in the
past three years by national resources or environmental regulators.
Green mine assessments cover a broad range of topics,
including:
- Rights and licenses: Operate with
and in compliance with relevant mining rights and licenses,
national laws, regulations, industrial policies, national mineral
resources plans, and geological environment protection plans;
- Environmental impact assessment:
State-approved plans with water and soil conservation measures and
comprehensive safety assessments, security bonds for environmental
restoration;
- No incidents: No reported
production accidents, deaths, environmental accidents, or
administrative penalties imposed within the two years prior to the
application;
- Efficient operations: Promote
technological innovation in mining and processing to maximize
extraction and minimize waste through recycling;
- Stakeholder impacts and
relationships: Generate social, environmental and community
benefits in addition to economic benefits (taxes, fees and profits)
inside and outside the organization;
- Promote energy efficiency: Employ
new, energy-saving technologies and processes to reduce energy
consumption;
- Environmental protection and
reclamation: Minimize dust pollution, material stockpiles, forestry
impacts and soil loss, and control waste discharges; and
- Management and supervision:
Organizational structure and internal controls to ensure sufficient
oversight and continuous safety at all operations.
Each mine that has been included in the national
list of green mines is subject to ongoing supervision and random
site audits by the provincial Departments of Natural Resources.
Mines that do not satisfy the requirements are removed from the
national list and will be closed.
About Silvercorp
Silvercorp is a profitable Canadian mining
company producing silver, lead and zinc metals in concentrates from
mines in China. The Company’s goal is to continuously create
healthy returns to shareholders through efficient management,
organic growth and the acquisition of profitable projects.
Silvercorp balances profitability, social and environmental
relationships, employees’ wellbeing, and sustainable development.
For more information, please visit our website at
www.silvercorp.ca.
For further information
Silvercorp Metals
Inc. Lon Shaver Vice
PresidentPhone: (604) 669-9397Toll Free 1(888) 224-1881Email:
investor@silvercorp.ca Website: www.silvercorp.ca
CAUTIONARY DISCLAIMER -
FORWARD-LOOKING
STATEMENTS
Certain of the statements and information in
this news release constitute “forward-looking statements” within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and “forward-looking information” within the
meaning of applicable Canadian provincial securities laws
(collectively, “forward-looking statements”). Any statements or
information that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
using words or phrases such as “expects”, “is expected”,
“anticipates”, “believes”, “plans”, “projects”, “estimates”,
“assumes”, “intends”, “strategies”, “targets”, “goals”,
“forecasts”, “objectives”, “budgets”, “schedules”, “potential” or
variations thereof or stating that certain actions, events or
results “may”, “could”, “would”, “might” or “will” be taken, occur
or be achieved, or the negative of any of these terms and similar
expressions) are not statements of historical fact and may be
forward-looking statements. Forward-looking statements relate to,
among other things: the price of silver and other metals; the
accuracy of mineral resource and mineral reserve estimates at the
Company’s material properties; the sufficiency of the Company’s
capital to finance the Company’s operations; estimates of the
Company’s revenues and capital expenditures; estimated production
from the Company’s mines in the Ying Mining District and the GC
Mine; timing of receipt of permits and regulatory approvals;
availability of funds from production to finance the Company’s
operations; and access to and availability of funding for future
construction, use of proceeds from any financing and development of
the Company’s properties.
Forward-looking statements are subject to a
variety of known and unknown risks, uncertainties and other factors
that could cause actual events or results to differ from those
reflected in the forward-looking statements, including, without
limitation, risks relating to: social and economic impacts of
COVID-19; fluctuating commodity prices; calculation of resources,
reserves and mineralization and precious and base metal recovery;
interpretations and assumptions of mineral resource and mineral
reserve estimates; exploration and development programs;
feasibility and engineering reports; permits and licences; title to
properties; property interests; joint venture partners; acquisition
of commercially mineable mineral rights; financing; recent market
events and conditions; economic factors affecting the Company;
timing, estimated amount, capital and operating expenditures and
economic returns of future production; integration of future
acquisitions into the Company’s existing operations; competition;
operations and political conditions; regulatory environment in
China and Canada; environmental risks; foreign exchange rate
fluctuations; insurance; risks and hazards of mining operations;
key personnel; conflicts of interest; dependence on management;
internal control over financial reporting; and bringing actions and
enforcing judgments under U.S. securities laws.
This list is not exhaustive of the factors that
may affect any of the Company’s forward-looking statements.
Forward-looking statements are statements about the future and are
inherently uncertain, and actual achievements of the Company or
other future events or conditions may differ materially from those
reflected in the forward-looking statements due to a variety of
risks, uncertainties and other factors, including, without
limitation, those referred to in the Company’s Annual Information
Form under the heading “Risk Factors”. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated, described or intended.
Accordingly, readers should not place undue reliance on
forward-looking statements.
The Company’s forward-looking statements are
based on the assumptions, beliefs, expectations and opinions of
management as of the date of this news release, and other than as
required by applicable securities laws, the Company does not assume
any obligation to update forward-looking statements if
circumstances or management’s assumptions, beliefs, expectations or
opinions should change, or changes in any other events affecting
such statements. For the reasons set forth above, investors should
not place undue reliance on forward-looking statements.
Silvercorp Metals (AMEX:SVM)
Historical Stock Chart
From Feb 2024 to Mar 2024
Silvercorp Metals (AMEX:SVM)
Historical Stock Chart
From Mar 2023 to Mar 2024