OceanaGold Releases 2024 Sustainability Report

Rhea-AI Summary

OceanaGold Corporation (OCANF) has released its 2024 Sustainability Report, highlighting key environmental, social, and governance achievements. The company maintained its MSCI "AA" and "Leader" rating while implementing an updated three-year Sustainability Strategy. Notable metrics include an 80% employee engagement score, exceeding the global mining sector benchmark by 8%. The company invested US$193 million in local suppliers, paid US$125 million in taxes and royalties, and contributed US$11 million to social investments.

Environmental achievements include zero material environmental incidents, completion of over 100ha of mine land rehabilitation (30% more than disturbed land), and meeting 70% of water needs through recycling. However, the report also noted two fatalities during the year, leading to the implementation of Safety Improvement Plans across all sites.

Positive

• Maintained MSCI 'AA' and 'Leader' rating
• 80% employee engagement score, 8% above industry benchmark
• Zero material environmental incidents in 2024
• Rehabilitated 30% more land than was disturbed
• 70% of water needs met through recycling
• US$193M spent with local suppliers
• US$125M paid in taxes and royalties

Negative

• Two workplace fatalities during the year
• Required implementation of Safety Improvement Plans across all sites

VANCOUVER, BC, May 21, 2025 /PRNewswire/ - OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF) ("OceanaGold" or the "Company") is pleased to publish its annual Sustainability Report and related documents for the year ended December 31, 2024.

Gerard Bond, President and CEO of OceanaGold, said "We made good progress on our sustainability commitments in 2024, consistent with our Purpose of mining gold for a better future. Operating safely and responsibly is a strategic imperative for OceanaGold, as we know that a comprehensive, integrated and company-wide approach to sustainability is fundamental to creating and protecting value for all our stakeholders."

Megan Saussey, Chief Sustainability Officer of OceanaGold, said "2024 was a year of implementation of our updated three-year Sustainability Strategy, with a focus on strengthening our core responsible business practices and maintaining consistent performance across the business."

2024 Sustainability Performance Outcomes:

• Maintained an MSCI "AA" and "Leader" rating.
• Commenced implementation of our updated three-year Sustainability Strategy.
• Developed and progressed Safety Improvement Plans and embedded the investigation learnings across all sites following two fatalities during the year.
• Achieved an 80% employee engagement score for our 2024 Culture Survey results, exceeding the global mining and metals benchmark by 8%, demonstrating a strong level of connection to, and satisfaction with, working at OceanaGold.
• Maintained our track record of zero material environmental incidents.
• Completed over 100ha of progressive rehabilitation of disturbed mine land to the agreed end use; over 30% more land than what was disturbed in the year.
• Conducted approximately 250 facilitated engagements with Iwi groups (Māori Peoples) who have indicated an interest in the Waihi North Project in New Zealand.
• Spent over US$193 million with local suppliers, paid US$125 million in taxes and royalties to host Governments, and contributed US$11 million to social investments and community partnerships.
• Completed portfolio-level climate change transition and physical climate scenario and risk analysis.
• Met 70% of our Company-wide water needs through re-used or recycled water.

Links to OceanaGold's Sustainability-related Reports

• 2024 Sustainability Report available here.
• 2024 Interactive ESG Data available here.
• 2024 Basis of Preparation and Reporting Indexes available here.
• 2024 RGMP Implementation and Conformance Report available here.
• 2024 Conflict-Free Gold Statement available here.
• 2024 Modern Slavery Statement available here.

About OceanaGold

OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand.

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SOURCE OceanaGold Corporation

FAQ

What were OceanaGold's (OCANF) key sustainability achievements in 2024?

OceanaGold maintained an MSCI 'AA' rating, achieved 80% employee engagement, maintained zero environmental incidents, completed 100ha of land rehabilitation, and met 70% of water needs through recycling. The company spent US$193M with local suppliers and paid US$125M in taxes and royalties.

How did OceanaGold (OCANF) perform in workplace safety during 2024?

OceanaGold reported two fatalities during 2024, which led to the implementation of Safety Improvement Plans and embedding investigation learnings across all sites.

What was OceanaGold's (OCANF) environmental impact and rehabilitation efforts in 2024?

The company completed over 100ha of progressive rehabilitation of disturbed mine land, which was 30% more than the land disturbed in 2024. They maintained zero material environmental incidents and met 70% of water needs through recycling.

How much did OceanaGold (OCANF) contribute to local communities and governments in 2024?

OceanaGold spent US$193 million with local suppliers, paid US$125 million in taxes and royalties to host governments, and contributed US$11 million to social investments and community partnerships.

What was OceanaGold's (OCANF) employee engagement score in 2024?

OceanaGold achieved an 80% employee engagement score in their 2024 Culture Survey, exceeding the global mining and metals benchmark by 8%.