- Osino Resources (OSI) has released its inaugural Sustainability Report for the 2021 reporting period
- The report presents both Osino’s historic sustainability performance as well as plans for the Twin Hills Gold Project in Namibia
- In 2021, Osino invested C$19.1 million (N$224.6 million) in Namibia
- Osino recruited 27 people under the age of 30 in 2021, many from local communities
- 95 per cent of employees are Namibian nationals
Osino Resources (OSI) has released its inaugural sustainability report for the 2021 reporting period.
The report presents both Osino’s historic sustainability performance as well as plans for the Twin Hills Gold Project in Namibia. It highlights how Osino is making a contribution to Namibia through direct local employment and local procurement, its support of key socio-economic development projects and the multiplier effect of its investments in the local economy.
Heye Daun, Osino’s co-founder, President & CEO, commented on the report.
“Mining companies have a responsibility and an opportunity to make a lasting positive impact in the communities where they operate. Osino takes this responsibility very seriously, and we have set ourselves ambitious goals to not only “do the right thing” but also to make a concerted effort to embed sustainability in everything we do. For this reason, we keep asking ourselves how we can maximize our long-term, positive contribution to the socio-economic development of Namibia and contribute to local economic growth, skills development, job creation, community well-being and environmental stewardship. The Sustainability Report we just published gives expression to what we have already achieved on this front and what we strive to do in the future. Economic development, guided by a sustainability approach that considers social and environmental priorities, is essential to growing a Namibian society and economy that thrives over the long term. Our sustainability report captures our commitment in this regard.”
Sustainability report highlights:
Foreign direct investment in Namibia
- In 2021, Osino invested C$19.1 million (N$224.6 million) in Namibia, which was largely spent on wages, drilling contractors and project studies
- Since 2017, Osino has invested a total of C$39.5 million (N$444 million) in Namibia
Prioritizing local and transformative employment
- Osino recruited 27 people under the age of 30 in 2021. Twenty-nine new employees were from local communities where unemployment is around 30%
- 50% of senior geologists are women, and equal pay applies throughout the company
- 95% of employees are Namibian nationals, and 47% are from local communities around the Twin Hills Gold Project
- About 750 people will work at the Twin Hills Mine, most of whom will be Namibian and many of whom will be from local communities
Strengthening local communities and building relationships
- 92 per cent of local procurement spend in Namibia
- Seed funding of C$170,000 was used to establish the Twin Hills Trust, which is supporting infrastructure upgrades, low-cost land provision and early childhood development in Karibib and Omaruru. Key suppliers and shareholders have also contributed to the Trust.
Rigorous compliance approach
- An environmental and social impact assessment (ESIA) was completed for the Twin Hills Gold Project to establish a baseline and identify potential impacts
- An environmental and social management plan (ESMP) for the Twin Hills Gold Project has been drawn up to inform current and future operations
A strong foundation for environmental performance
- Osino’s carbon footprint, including emissions from three drilling contractors, has been calculated
- Investigation into carbon-reducing technologies and strategies for the Twin Hills Mine are both ongoing
- Zero significant environmental incidents were recorded
- 77 per cent of recorded waste was recycled
Osino is working with a large team of technical and social experts on positive initiatives, such as housing for mine workers, skills development, renewable energy options including solar energy and a battery energy storage system and minimizing water usage.
Osino is a Canadian gold exploration company focused on the advancement of its Twin Hills Gold Project in central Namibia.
Osino Resources Corp. (OSI) is up 1.18 per cent on the day, trading at C$0.86 per share at 11:30 am ET.