Responsibly Produced Products

Product Responsibility

Eldorado supports industry-wide efforts to responsibly produce gold and other precious and base metals. We acknowledge and believe that our license to operate requires that all of our activities be conducted in a manner that does not cause, contribute or directly link to human rights abuses or unlawful conduct. As a member in good standing of the World Gold Council, Euromines and the Mining Association of Canada, we are committed to operating to robust social and environmental standards that benefit all stakeholders. External standards and frameworks that our operating mines adhere to are listed in Our Approach to Responsible Mining.

How Our Products Contribute to Society

The metals we produce comprise many of the materials that make up the modern world. They are critical components of green technologies such as wind turbines, electric cars, solar cells and major infrastructure that are advancing the global transition to a lower-carbon economy. Our products create and store value for economies, societies and governments, and form an integral part of modern financial systems. Just as our products contribute to a better world, we are committed to producing them in a way that creates positive economic, social and environmental value for all our stakeholders.

Gold mining is a major economic driver for many countries and jurisdictions around the world. Well-managed, transparent and responsible gold mining can be a major contributor to the socio-economic well-being of host communities through the creation of local employment and business opportunities, as well as investments that seek to benefit community development.

Contractor and Supplier Management

Eldorado’s supply chain forms an important stage in the lifecycle of the gold and precious metals we responsibly produce. Our contractors are a critical part of our workforce, contributing to areas including exploration, construction and other developments requiring specific resources and expertise, and we work with our suppliers to procure vital supplies for our workforce and operations, such as food, tools, equipment, machinery, or bulk materials.

Eldorado acknowledges the importance of not only managing risks and implementing internationally recognized best practices in its own operations but extending these expectations to our contractors and down the supply chain. SIMS requires all contractors and suppliers to be evaluated and conduct their work according to minimum performance standards for health and safety, environmental, social, human rights and other facets of sustainability, such as complying with the MAC-TSM Prevention of Child and Forced Labour Verification Protocol.

Human Rights

As a significant economic and social presence in the jurisdictions and communities where we operate, Eldorado has the potential to substantively impact the human rights of our stakeholders. We acknowledge that we have a responsibility to respect internationally recognized human rights as expressed in the International Bill of Human Rights and the International Labour Organization’s Declaration on the Fundamental Principles and Rights at Work. In doing so we commit to avoid causing or contributing to adverse human rights impacts and prevent or mitigate those impacts that are directly linked to our operations. To meet our responsibilities in line with the UN Guiding Principles on Business and Human Rights, we have put in place:

Employees and contractors are expected to adhere to our Human Rights Policy and associated requirements in SIMS. We expect our business partners, including security providers, contractors and suppliers, to share this commitment to the rights of our workforce, local community members and all stakeholders with whom we interact. This includes respecting the human rights of individuals who require particular attention, including women, children, Indigenous Peoples and other potentially vulnerable or marginalized groups.

United Nations Global Compact

Eldorado is a signatory to the UN Global Compact (UNGC), the world’s largest corporate responsibility initiative. The UNGC’s Ten Principles provide fundamental guidance for our business in the areas of human rights, labour standards, the environment and anti-corruption. We have considered the UNGC’s Principles in the development of our Code of Ethics and Business Conduct, Anti-Bribery and Corruption Policy, Human Rights Policy, Diversity Policy, Social Performance Policy and our Environmental Policy. We report against each of the Ten Principles in our Communications on Progress.

Security

Voluntary Principles on Security and Human Rights

The Voluntary Principles on Security and Human Rights is considered the standard for best practice in managing security for extractive industry operations. Our commitment and progress on the VPSHR is discussed in our VPSHR Report and included in MAC’s annual Towards Sustainable Mining Progress Report.

Eldorado has committed to implement the VPSHR in its Human Rights Policy. SIMS also supports Eldorado’s alignment with the VPSHR.

Responsible Sourcing

World gold council’s (wGC) Conflict-Free Gold Standard (CFGS)

The WGC’s Conflict-Free Gold Standard creates a framework for assurance that the production of gold by a company does not contribute to unlawful armed conflict or human rights abuses. Although Eldorado’s operations are not located in conflict-affected areas, we adopted the CFGS in 2013 and can therefore provide assurance that the gold we produce does not cause, support or benefit armed conflict or contribute to human rights abuses or breaches of international humanitarian law. This commitment is reinforced in our Human Rights Policy and in SIMS. Our annual Conflict-Free Gold Report confirms Eldorado’s gold-producing operations do not contribute to conflict.

Sustainability Spotlight

IMPLEMENTING THE VOLUNTARY PRINCIPLES ON SECURITY AND HUMAN RIGHTS THROUGH SIMS

We are responsible for the security of our people, property and products and work closely with public and private security providers to operate in a manner that promotes and protect human rights. As a member of MAC and the WGC, Eldorado is committed to providing a safe and secure working environment for our employees, contractors and visitors and managing security-related human rights risks through implementation of the Voluntary Principles on Security and Human Rights.

Eldorado’s SIMS was developed in alignment with the VPSHR and security and human rights-related requirements of MACTSM and the WGC’s RGMPs, and it is the principal mechanism by which actions toward conformance with these corporate commitments regarding security and human rights are managed and administered. The SIMS Security Performance Standards include conducting risk assessments consistent with the VPSHR and implementing systems and programs appropriate to the risks identified. Compliance with SIMS is verified at the operations level through internal compliance verifications and self-assessments, as well as external audits by a credible third party.

Formal complaints and grievances pertaining to security and human rights may be reported through our third-party whistleblower reporting agency as well as our employee or external grievance mechanisms.

Despite Eldorado’s relatively lower-risk exposure to human rights risks, based on operating jurisdictions and management controls in place, we intend to continually improve our application of the VPSHR through the implementation of SIMS. Key findings from assessments and verifications inform action plans for each operation, outlining specific recommendations and responsibilities to address the risks identified, along with appropriate controls.

Read More