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In addition to disclosing results determined in accordance with GAAP, Primero may also disclose certain non-GAAP information, including certain ratios, operational and miscellaneous data, as well as net income and income per share income that make certain adjustments or exclude certain charges and gains that are outlined in the schedules included in this website. Management believes that this non-GAAP information provides investors with additional information to assess Primero’s operating performance and assists investors in comparing our operating performance to prior periods. Management uses this non-GAAP information, along with GAAP information, in evaluating its historical operating performance.
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At Primero, we believe that sustainability is fundamental to our success. At the corporate level and in our relationships with our host communities, our prosperity depends on good corporate governance and building a solid framework for economic, community and environmental sustainability.
Our four-step approach to sustainability begins with creating and nurturing a corporate culture based on a vision of environmental stewardship, social progress, economic achievement, and ethical, transparent governance. That vision translates into values that inform decision-making and that, ultimately, guide our behaviours, as a company and as individuals.
The second step is to apply that vision and those values to developing policies and procedures that support sustainability with consistency and rigour, through standardized company-wide systems.
Third, our sustainability practices must focus on materiality: on those aspects of our corporate behaviours that most concern our stakeholders. If we engage our stakeholders and ascertain their priorities—and then focus our efforts on those concerns—we are better positioned to manage risk. Later in this report, our approach to materiality is discussed at length. In 2014, we will enhance our stakeholder engagement and use the results to review and refine our Corporate Responsibility Strategy.
The fourth step is ongoing engagement. Only by engaging with our stakeholders, including our host communities, can we build strong relationships, develop alliances and maintain a long-term, balanced approach to sustainability. As Primero has become a mid-tier mining company with two producing mines, we are undergoing a thorough sustainability policy renewal process.
By maximizing earnings and reducing operating costs, we produce results for our shareholders while also contributing to the economic and social development of our host communities. Only by creating value for our shareholders and host communities, can we sustain our company over the long term.
We actively engage in meaningful dialogue with local residents, community leaders and organizations to identify opportunities and priorities for economic improvement, better training and social development. We support schools, health care and local infrastructure, and we continually seek development opportunities that will contribute to a self-sustaining economy in the communities surrounding our operations.
In February 2014, for the third consecutive year, Primero’s CSR framework and commitments were assessed and the company was again awarded the “Empresa Socialmente Responsable” (ESR) or “Socially Responsible Company” designation by CEMEFI, the Mexican Center for Philanthropy. This is a prestigious award that has been given to fewer than 950 companies in 2013. It recognizes companies that are committed to sustainable economic, social and environmental operations in all areas of corporate life, including business ethics, employee health and safety, involvement with the community, and preservation of the environment.
At all times, we seek to operate in a responsible manner and to mitigate the impact our operations may cause to the environment. We operate with an awareness of the mine’s life cycle and practice the progressive rehabilitation of areas affected by our activities.
This report is written for Primero stakeholders, including:
These groups are generally accepted as key stakeholders for sustainability reporting, and we engage with them through our AGM, community meetings, website and a dedicated email address.
Our ongoing assessments of materiality will, in the future, increase the breadth of engagement in our sustainability reporting. We will be engaging in formal exercises to refine our definition of stakeholders and to survey their reporting needs. Also see Materiality and Our Key Stakeholders, later in this report.
We invite sustainability-related comments and suggestions at our dedicated email address: email@example.com.