pr oduc er with the addition of Aur or a t o our gr o wing as set portf olio Silv e r c orp chairman and CEO Rui F eng said W e look f orw ar d t o partnering with the g o v ernment of Guy ana t o mak e a suc c e s s ful entry int o the r egion le v e r aging Guy ana Goldf ield s e xisting t eam and r elation ships t o ensur e a smooth tr ansition and c ontinued de v elopment that benef it s all st ak eholder s Silv e r c orp s pit ch t o Guy ana s shar e holder s included r educ ed de v elopment risk thanks t o the c ompan y s leng th y tr ack r e c o r d of oper ation as w ell as a U S15 million loan agr eement t o be used t o pr oc eed with the tr ansition t o under gr ound oper ations at Aur or a T h e Aur or a mine has had signif ic ant is sues with pr oduction in the past which Guy ana s f ormer CEO Patrick Sheridan blamed on the oper ations r esour c e model T his tr ansaction pr ovides our shar e holder s with an immediat e and signif i c ant upfr ont pr emium and e xposur e t o a g eogr aphic ally div er se mid tier pr ecious met al c ompan y Guy ana Goldf ields pr esident and CEO Alan Pangbourne said W ith a str ong oper ating hist ory solid balanc e sheet and signif ic ant under gr ound e xperienc e Silv e r c orp s manag ement t eam is w ell positioned t o fund and c ontinue t o adv anc e the under gr ound pr oject at Aur or a T he pur chase will be subject t o a v o t e by Guy ana Goldf ield shar eholder s at their special meeting e xpect ed t o be held by the end of June Matthew P arizot MayJune 2020 MaiJuin 2020 25 de v elopment s Part of the acquisition includes a US15 million loan to help proceed Aurora to underground development Courtesy of Guyana Goldfields T eck r eleases 2019 sust ainability r eport On Mar 12 T eck Resour c es r eleased it s 2019 sust ainability r eport announc ing plans t o r educ e it s c arbon pr oduction by 33 per c ent by 2030 T he r eport high light s the c ompan y s updat ed sust ain ability str at egy that f ocuses on eight themes including climat e chang e r esponsible pr oduction and biodiv er sity and r eclamation Part of the str at egy s climat e chang e specif ic g oals include adopting the equiv alent of 1 000 st andar d emis sion v ehicles with z e r o emis sions tr ans port a tion alt ernativ es by 20 25 and using clean ener gy f or 50 and 100 per c ent of electricity demands f or it s Chilean oper ations by 20 25 and 2030 r espectiv ely T eck purchased SunMine a solar energy facility on one of its former mine sites from the City of Kimberley earlier this year T hese measur es f eed int o the br oader g oal announc ed by T eck in F ebruary t o be c arbon neutr al by 2050 T he r eport also highlight s the c o m pan y s achie v ement s including using r ene w able r esour c es f or 26 per c ent of it s ener gy r equir ement s r e cy cling and r eusing w a t er an a v er ag e of thr ee times during oper ations and r educing gr een house g as emis sions by 297 000 t onnes sinc e 2011 A c c o r ding t o pr esident and CEO Don Lindsa y the ne w g oals f or c arbon r educ tion w a t er use and mor e r epr esent the c ompan y s c ommitment t o impr oving mining pr actic es A t T eck w e ar e alw a y s challenging our selv es t o impr ov e sust ainability perf ormanc e so w e c an be sur e w e ar e pr oviding the mining pr od uct s needed f or a cleaner futur e in the most r esponsible w a y pos sible said Lindsa y in a pr es s r elease T eck s 2019 r eport builds on pr e vious sust ainability initiativ es announc ed ear lier this y ear such as it s c ontinued c o m mitment t o using r ene w able ener gy r esour c e s In J anuary T eck pur chased S unMine a solar ener gy f acility on one of it s f ormer mine sit es fr om the City of Kimberle y in British Columbia Cur r ently 82 per c ent of T eck s electricity is sour c ed fr om r ene w able ener gy T he decision f ollo ws the c ompan y s decision t o r escind it s F r ontier pr oject applic ation In a let t er t o the f eder al Minist er of the En vir onment and Cli mat e Chang e J onathan W ilkinson Lind sa y cit ed incr eased f eder al and global scrutin y on climat e chang e and emis sions as part of the r easons f or it s deci sion T he F r ontier mine w ould ha v e pr oduc ed an estimat ed f our million t onnes of gr eenhouses each y ear of it s 40 y ear mine lif e T ijana Mitrovic Courtesy of SunMine