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Our two main energy uses at our operations are electricity and fuel for haulage. Stationary energy is comprised of purchased electricity from the grid at Bolañitos and Guanacevi, use of generators at Terronera, diesel fuel for vehicles, and natural gas for the smelting furnaces at Guanaceví.
We’re focused on reducing energy consumption and the emissions intensity of our operating sites (direct and indirect) through conservation and eco-efficiency initiatives. In line with ISO 14001 guidelines, we have developed an Environmental Management System, which includes environmental monitoring systems and controls at each site. Our maintenance teams monitor and look for opportunities to streamline electricity consumption. They review efficiencies to determine the capacity needed for the equipment in order to optimize electricity use. We also work with our contracted trucking companies to ensure efficient transport management; for example, by carrying the highest allowable loads and reducing the number of trips.
Emissions disclosure is a key component of our sustainability reporting. Since 2013, we have tracked and reported greenhouse gas (GHG) emissions for all our operations, which allows us to continually identify areas for improvement. We monitor both direct (Scope 1) and indirect (Scope 2) emissions, and since 2023 started tracking Scope 3 emissions for the operating sites. The ESG Performance Tables on our website provide metrics for the past four years. The GHG emissions of our Guanacevi operation are subject to external verification since they are above the Mexican regulatory threshold of 25,000 tons eCO2.
In March 2023, we launched our first standalone climate report, "Our Climate Journey." The report highlights our approach to climate change and aligns with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), providing specific climate-related information in four areas: governance, strategy, risk management, and metrics and targets.
Climate change presents both risks and strategic opportunities for the silver mining industry. The risks related to extreme climate conditions such as torrential rains or fires are indeed present in our operations and we are taking steps to mitigate them. Regulatory pressures are constantly evolving and can potentially represent additional financial costs for our operations. Alongside all that, we recognize the role that silver plays in enabling the global low-carbon transition. In addition to silvers’ use as a store for wealth and other industrial purposes, silver is considered critical for a cleaner, greener future, as it has become an essential metal needed to support solar panels, battery cell-based electric vehicles and other environmental innovations that underpin a more sustainable economy.
