Sunstone Metals Ltd (ASX:STM) has unveiled its inaugural sustainability report for the 2023 financial year, underscoring the positive economic and social impact its El Palmar and Bramaderos projects in Ecuador have had on local communities.
The Brisbane-headquartered copper and gold explorer presented comprehensive case studies to highlight its commitment to the people it employs, the environment and the education of the communities as well as the local economy
In particular, the company is most proud of the results it has achieved from prioritising local employment and procurement in its projects.
Among the key environmental, social and governance (ESG) achievements during the year were:
- 99.6% of personnel within Ecuador are Ecuadorian;
- 86% of personnel are from local communities;
- 39% of professional staff are female;
- 95% of procurement spend is with Ecuadorian companies;
- Zero major environmental non-compliance and environmental incidents; and
- More than 200 personnel or more than 90% trained in occupational risk assessments.
Positive change
"This report details the activities which Sunstone is undertaking to build its ESG credentials and the results of our efforts so far,” Sunstone chairman Graham Ascough said in the report.
“We firmly believe that responsible mining can be transformative for the development of communities in Ecuador, and we are committed to being a part of this positive change.
“The local economic and social contribution of our operations, thanks to our prioritisation of local employment and procurement, is one of the areas of Sunstone’s work which we are most proud of.
“At the same time, we remain committed to our environmental performance, which is reflected in our consistently strong environmental compliance.
“Sunstone has continued its efforts to provide a safe, healthy and diverse workplace.
“Our health and safety performance as well as the representation of women within our technical teams, are steps in the right direction within our ESG strategy.”
Environment
In recognising the need to safeguard Ecuador’s natural heritage, the company carries out reforestation activities within its projects and monitoring of local species every six months to ensure minimum impact and to provide mitigation, where required.
During the 2023 financial year, the company rehabilitated six trenches in the El Palmar project, covering a surface area of 457 square kilometres, and donated 415 plants from the Bramaderos nursery and 322 plants from the El Palmar nursery.
In August 2022, Sunstone launched an environmental club for children and adolescents in the El Paraíso village to spread awareness on issues from reforestation to waste management and Ecuador’s biodiversity.
Through increasing awareness, the company hopes to empower the youth of El Paraíso to become agents of change.
Plant nursery staff in the Bramaderos project.
Local employment
The company has prioritised local employment to ensure its contribution to the communities such as more money in circulation in the local economy, powering businesses and other economic activity.
About 86% of the employees in Bramaderos and El Palmar and 60% of the contractors live in the surroundings of the project areas.
As an example, during the year in review, Sunstone employed skilled workers between the ages of 22 and 33 from the direct area of influence at Bramaderos in distinct areas of operations, including in administration, plant nursery, community relations and logistics department.
Women account for about 11% of Sunstone’s workforce, of which 39% are in professional roles.
Steps are being taken to increase this number, while measures such as providing a safe and comfortable working environment free of sexual harassment and discrimination are already in place.
Maria, Sunstone's community relations assistant and future lawyer.
Right direction
“This report is an exciting step forward in our efforts to provide greater transparency regarding the environmental, social and governance performance of our projects in Ecuador,” Ascough said.
“While this document includes performance indicators, it also seeks to contextualise these statistics in terms of what they mean for local communities.
“This local contribution, together with the professionalism and integrity of our community relations teams, is one of the key reasons for the strong support for our operations among local communities.”
To read the full report, click here.
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