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Moneta Gold publishes inaugural ESG Report for Timmins Tower project

Jul 6, 2023

"Our inaugural Sustainability Report reflects our core philosophy that we put ESG at the forefront of our activities. All of us at Moneta are very proud of this commitment, whether it involves building and maintaining relationships, focusing on health and safety, governance oversight, and recognizing the importance of Indigenous communities, and environmental protection. Throughout 2023, we have continued to further develop and refine our ESG strategy; with an approach to integrate industry-standard performance and reporting frameworks relevant to our early stage of development," stated Josef Vejvoda, interim Chief Executive Officer of Moneta Gold.

Moneta Gold Inc. has released its inaugural Environmental, Social, and Governance ("ESG") Report for the 2022 reporting period, highlighting the achievements and efforts the Company has made over the last year and setting out Moneta's priorities with respect to its ESG practices.

2022 Highlights:

  • Almost 900 hours of safety training provided to workers.
  • Zero regulatory fines from any health and safety or environmental incidents.
  • Continued gathering baseline data for various environmental parameters, including biodiversity, water quality, hydrology, and hydrogeology.
  • Developed relationships with local Indigenous groups and neighboring communities through provision of employment and contracting opportunities.
  • Approximately 67% of purchases from local suppliers, including from small independent businesses.
  • Adopted internationally recognized performance and reporting standards to enhance our ESG strategy and profile.
  • Diverse workforce, including Indigenous staff, employees from Indonesia, South Africa, Philippines, India, and Australia.
  • Women made up 25% of workforce.
  • Over 85% of the workforce from the local area.


About Moneta Gold 

Moneta is a Canadian-based gold exploration company focused on advancing its 100% wholly owned Tower Gold project, located in the Timmins region of Northeastern Ontario, Canada's most prolific gold producing camp. The September 2022, PEA study outlined a combined open pit and underground mining and a 7.0 million tonne per annum conventional leach operation over a 24-year mine life, with 4.6 Moz of recovered gold, generating an after-tax NPV5% of $1,066M, IRR of 31.7%, and a 2.6-year payback at a gold price US$1,600/oz. Tower Gold hosts an estimated gold mineral resource of 4.5 Moz indicated and 8.3 Moz inferred. Moneta is committed to creating shareholder value through the strategic allocation of capital and a focus on the current resource upgrade drilling program, while conducting all business activities in an environmentally and socially responsible manner.

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