Sustainability: Our Story
Social and Sustainability Performance
We are committed to the responsible operation of our business. We do all we can to ensure the highest standards of ethical behaviour, health and safety, environmental stewardship and governance, while sharing the benefits of mining with our communities.
In our experience, responsible mining is compatible with the highest stakeholder expectations in terms of both social and environmental performance. Our licence to operate depends on meeting those expectations at all times.
That is why our promise to create value through growth and returns is not confined to our financial investors. We work hard to ensure the health and safety of our people and also that their communities see a return on their investment of time, skills and commitments.
Mining is an essential activity that creates value at the local and global level. We believe it can be compatible with high stakeholder expectations vis-à-vis social and environmental performance, and, indeed, that our social licence to operate is dependent upon meeting those expectations. Therefore, responsible business practices must be deeply integrated in the operations, and factors affecting stakeholders taken into consideration at every critical decision-making level. This is reflected in our business model, wherein sustainable business practices ground our value-creation pyramid.
Our commitment to create long-term value is founded on responsible mining practices, to create value for and ensure the wellbeing of stakeholders without compromising future generations, through policies and practices implemented from the earliest stages of exploration until mine closure. We benchmark our success within a framework of maturing sustainability practices and continuous improvement in our safety culture.
Furthermore, compatible mining enhances our competitive advantages: engaging communities from the earliest stages of exploration and development reduces project risk and supports asset values; community support and environmental stewardship can minimise disruptions and ensure operational continuity; and a solid ESG risk profile influences the cost of capital, essential to balance sheet flexibility.
We do all we can to ensure the highest standards of ethical behaviour, health and safety, environmental stewardship and governance, while sharing the benefits of mining with our communities.
- Pledged reduction targets in our Fatality Rate and Total Recordable Injury Frequency Rate (TRIFR) to reach benchmark ranges set by the International Council on Mining and Metals (ICMM).
- Initiated our Women for Women Mentorship Programme with a first generation of mentors and mentees to foster female talent.
- Developed and constructed our inaugural TSF following the Mining Association of Canada's international standards in Juanicipio.
- Conducted thorough evaluations of technical and environmental factors in Noche Buena as part of its closure plan.
- Collaborated with UNAM Foundation and different local, federal and health authorities to deploy Community Health Weeks across our units benefitting 139 communities and almost 8,000 people.
- Although Fresnillo was excluded from the FTSE4Good Index in 2022, we remain totally committed to decreasing carbon emissions and setting science-based targets in the future.
- Generated an economic impact of US$2,228.7 million in 2022 through wages, taxes and payments to suppliers. 67.25% of our workforce are from the regions where we operate.