Teranga Gold Awarded 2020 Sustainable Development Goals Accelerator Award

Rhea-AI Summary

Teranga Gold Corporation (TGCDF) has received the 2020 Sustainable Development Goals (SDG) Accelerators Award from Global Compact Network Canada. This recognition highlights Teranga's efforts in promoting a 'zero hunger' goal through its Livelihood Restoration Plan at the Wahgnion Mine in Burkina Faso. The six-year program, costing $18 million, aims to enhance local agricultural productivity and household incomes. Teranga's commitment to responsible mining emphasizes long-term benefits for communities, continuing its successful sustainability initiatives initiated in Senegal.

Positive

• Received 2020 SDG Accelerators Award, enhancing reputation.
• Successful Livelihood Restoration Plan led to a doubling of agricultural yields and increased household incomes.
• The $18 million investment showcases commitment to community support and sustainable development.

Negative

• None.

TORONTO, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Teranga Gold Corporation ("Teranga" or the "Company") (TSX:TGZ; OTCQX:TGCDF) is pleased to announce it has won a 2020 Sustainable Development Goals (SDG) Accelerators Award from Global Compact Network Canada, the Canadian chapter of the UN Global Compact.

Teranga’s winning submission in the large company category highlights the Company’s contribution to a ‘zero hunger’ goal in communities near the Wahgnion Mine in Burkina Faso, West Africa. Under its Livelihood Restoration Plan, Teranga works closely with local stakeholders to provide education, training and support that has led to increased crop production, new and high-value crops, and improved access to farming areas.

“The six-year, $18-million program has yielded numerous benefits for communities neighbouring the mine, including a doubling of agricultural yield for some crops and significant increases in household income,” said Richard Young, President and Chief Executive Officer. “Teranga is committed to sharing the benefits of responsible mining with all our stakeholders and we are proud to work alongside local governments and communities to develop programs that create long-term, sustainable benefits such that the communities and other stakeholders we impact are better off after we have left than before we arrived.”

About the Livelihood Restoration Plan (LRP)

During initial consultations to address mine-related displacement, food security and sustainable agricultural-based livelihoods were identified as two critical issues. The LRP, which runs from 2018 to 2023, is governed by a multi-stakeholder committee that includes government, youth and women. The LRP was designed to strengthen livelihoods and reduce the risk of hunger in the communities surrounding the operation through economic empowerment, enhanced technical capacity and improved access to land, equipment and inputs.

Teranga’s initiatives in Burkina Faso build on the strength of its established sustainability program in Senegal, where the Company operates the Sabodala-Massawa Gold Complex, the country’s largest gold mine. Teranga’s sustainability strategy is based on four pillars, including good governance, our people and culture, mitigating our impacts and sharing the benefits of responsible mining.

About the United Nations Global Compact

The UN Global Compact is a special initiative of the UN Secretary-General. The UN Global Compact provides a framework for developing a more sustainable and responsible business, and is the world’s largest corporate sustainability initiative.

About Teranga

Since its initial public offering in 2010, Teranga has grown to become a low-cost, mid-tier gold producer operating two mines – Sabodala-Massawa and Wahgnion – and advancing prospective exploration properties across West Africa, one of the world’s fastest growing gold jurisdictions. Through its continued success and commitment to responsible mining, Teranga has created sustainable value for all stakeholders and acted as a catalyst for social, economic, and environmental development. Teranga and Endeavour Mining announced plans to combine to create a best-in-class senior gold producer in 2020.

Contact Information

Richard Young President & CEO T: +1 416-594-0000 | E: ryoung@terangagold.com

Trish Moran VP, Investor Relations & Corporate Communications T: +1 416-607-4507 | E: tmoran@terangagold.com

FAQ

What is the significance of Teranga Gold's SDG Award in February 2021?

The SDG Award recognizes Teranga's commitment to sustainable development, particularly in promoting food security and community support.

What does Teranga Gold's Livelihood Restoration Plan entail?

The Livelihood Restoration Plan aims to improve agricultural productivity and reduce hunger in communities near the Wahgnion Mine, running from 2018 to 2023.

How much has Teranga invested in sustainable development initiatives?

Teranga has invested $18 million in its Livelihood Restoration Plan to enhance local agricultural practices.

What impact has Teranga's program had on agricultural yields?

The program has resulted in a doubling of agricultural yields for some crops in the communities surrounding Wahgnion Mine.

What other sustainability efforts does Teranga undertake?

Teranga also implements sustainability programs in Senegal, focusing on good governance, cultural preservation, and responsible mining practices.