GALIANO GOLD INC. 2023
SUSTAINABILITY
REPORT
02
INSIDE THIS REPORT
OVERVIEW
About Galiano Gold
2023 Sustainability Performance Snapshot Message From Our CEO
About This Report
Material Topics
2023 Sustainability Achievements
2024 Sustainability Goals
ENVIRONMENT | 11 | |
Environmental Stewardship and Compliance | 12 | |
Waste Management | 12 | |
Land Management | 14 | |
Biodiversity | 14 | |
Climate Change | 15 | |
Water Management | 15 | |
Energy And Emissions | 16 |
SOCIAL
Human Rights
Grievance Mechanisms
Stakeholder Engagement
Our People
Health & Safety
Contributing To Community
Developing Local Economies
17 | GOVERNANCE | 34 |
18 | Sustainability Strategy | 35 |
19 | Integration Of International Standards | 36 |
20 | Ethical Conduct | 37 |
21 | Enterprise-Wide Risk Management | 38 |
24 |
27
33
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additional content online. | ||
*All dollars ($) are in $USD |
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GALIANO GOLD | 2023 SUSTAINABILITY REPORT
OVERVIEW
ABOUT GALIANO GOLD
[GRI 2-1,2-6]
Headquartered in Vancouver, BC, Canada, Galiano Gold Inc. ("Galiano" or the "Company") is a publicly traded precious metals mining company committed to sustainable business and long-term value creation for stakeholders. Galiano owns and operates the Asanko Gold Mine (the "AGM") - a large-scale,multi-deposit complex situated in the Ashanti Region of Ghana, West
OUR VISION
Galiano's vision is to create a sustainable business capable of long-term value creation for our stakeholders.
Between 2018 and early 2024, the joint venture between Galiano and Limited, whereby each JV partner 45% interest and Galiano managed operated the mine. The Government Ghana held the remaining 10% carried interest).
On March 4, 2024, the Company completed the acquisition of Gold Fields' 45% interest in the
AGM JV.
The objective of the acquisition was to consolidate ownership of the AGM and establish Galiano as a growing gold producer with robust financial strength, owning and operating one of the largest gold mines in West Africa.
Government
of Ghana
10%
ASANKO
GOLD MINE
90%
Galiano
Gold
The
has 1.60M oz since
OUR MISSION
- Providing a safe and healthy working environment for all employees.
- Developing and implementing the organizational capability required to achieve and sustain our business and growth objectives.
- Making responsible, competitive, and efficient use of all our assets.
- Fostering cooperation and participation with all stakeholders to achieve our shared goals, with particular emphasis on the environment and our local communities.
- Pursuing accretive merger and acquisition opportunities.
OUR VALUES
We are committed to an organizational culture that reflects our shared values of:
CARING | INTEGRITY | TEAMWORK |
INNOVATION | COMMITMENT | TRANSPARENCY |
GALIANO GOLD | 2023 SUSTAINABILITY REPORT
ECONOMIC*
2023 Gold Production = 134,077 oz
0
Significant
Environmental
Accidents
51.62 ha
of Land Under Active
Rehabilitation
Maintained
International
Cyanide
Management Code
(ICMC) Certification
2023 Gold Sold = 134,163 oz
$256.5M 2023 Total Revenue
Net Income = $ 69.9M
Average 2023 realized gold price = $1,909/oz
SOCIAL
407 Total AGM Managed Workforce (site and Accra Office)
2,499
AGM Contractors
99.4%
AGM Ghanian
Workforce
18
Corporate Office
Employees
(Canada)
Social
Responsibility Fund
Projects
Implemented
Regional Hospital
Completed
Strategic
community
investments in the
catchment
communities
$55.4M
In-Country
Procurement Spend
272
Ghanian Businesses
Supported
GOVERNANCE
*AGM statistics on a 100% basis
Galiano Gold | AGM Employee | Implementation of |
Harassment | Mental Health Policy | the AGM |
Prevention Policy | Employee | |
Assistance | ||
Program (EAP) |
HEALTH & SAFETY
Mental Health | Completed AGM | 0.5 |
Program Launched | Safety Audit | LTIFR |
GALIANO GOLD | 2023 SUSTAINABILITY REPORT
MESSAGE FROM OUR CEO | |
With this 10th Sustainability Report, we aim to familiarize our readers with | |
OVERVIEW | Galiano's Environmental, Social, and Governance (ESG) efforts at the |
BUILDING AN EMERGING MID-TIER GOLD PRODUCER | |
Asanko Gold Mine (the "AGM") in Ghana, underscoring our commitment | |
to long-term sustainable solutions over short-term gains. In | |
communicating our ESG progress transparently, we will identify areas for | |
improvement and review the ways we are meeting and exceeding | |
stakeholder expectations. | |
Throughout 2023 we achieved numerous business | |
objectives; We began with our release of a new | |
technical report for the AGM and culminated | |
the announcement of the acquisition of Gold | |
Fields' 45% interest in the AGM Joint Venture, | |
which subsequently closed in early 2024. | |
Importantly, in Q4 we also returned to hard | |
rock mining at Abore, in line with the plan | |
outlined in the technical report. | |
The updated technical report illustrated | |
Mineral Reserves comprising Proven and | |
Probable Reserves of 48.9Mt with a grade | |
of 1.43 g/t for a total of 1.9 million ounces. | |
This plan demonstrated a mine life of 8.5 | |
years, with average production in excess of | |
217,000 ounces per year at All in Sustaining | |
Costs ("AISC") of $1,143 per ounce. | |
The AGM consolidation from Gold Fields, announced | |
in December 2023, established Galiano as a growing | |
gold producer, and the transaction added considerable | |
value for our shareholders, transforming Galiano into an emerging | |
mid-tier gold producer. | |
With over 450 sq km of land under our control, we have significant | |
exploration potential. During 2023, our exploration team focused on both | |
near mine exploration and assessing generative prospects. Perhaps | |
most promising is the preliminary exploration work undertaken across | |
the AGM's regional greenfield targets, which identified an exciting large, | |
early-stage target on the Sky Gold B concession to the north of our | |
current operations. |
ESG PERFORMANCE OVERVIEW
Environment
The 2023 AKOBEN audit by the Ghana Environmental Protection Agency (EPA) confirmed our strong environmental performance, showcasing the Company's impeccable compliance and a year free of environmental incidents. A vulnerability risk assessment at the AGM advanced our climate change management efforts, reflected in our internal draft of the Climate-Related Financial Disclosures. These align with Task Force for Financial Climate Disclosures (TCFD) guidelines.
We continue to prioritize responsible tailings stewardship rigorous management and independent expert oversight, improving our practices at every opportunity. We actively invest in research and development to enhance tailings management processes, reduce water consumption, and
minimize environmental impacts.
Social
Safety is fundamental to our operations. In early 2023, a tragic accident resulted in two contractor fatalities. This prompted us to embed critical learnings into our safety standards. As a result of thorough investigations, we intensified efforts in visible felt leadership, safety management
system, and fundamental safety tools and practices. day, we renew our commitment to providing a workplace free of fatalities, injuries, and illnesses. Though we
did have one LTI during the fourth quarter, we achieved 12-month rolling LTI and TRI frequency rates of 0.50 and 1.65 per million employee hours worked, respectively.
Our business activities and focus on sustainability also delivered meaningful benefits for our stakeholders. In 2023, we distributed $207.6M in direct economic contributions, including wages and benefits, operating and capital expenditures, and social development/community investments. These include the Social Responsibility Fund for community infrastructure projects, the Asanko Opportunity Cycle, the Asanko Women in Mining, and the completion and handover of the Esaase Regional Hospital.
Governance
In 2023, we enhanced our governance framework by approving a new harassment prevention policy and procedures, clarifying rights and responsibilities. We also implemented an Employee Assistance Program (EAP) at the AGM to address mental health challenges, aiming to reduce psychosocial hazards and support employee well-being.
LOOKING AHEAD
Our ESG accomplishments demonstrate Galiano's commitment to industry standards, best practices, and local sustainability goals in Ghana. We are dedicated to growing responsibly as a long-term gold producer.
Sincerely,
Matt Badylak
President & CEO
June 28, 2024
"The AGM consolidation from Gold Fields, announced in December 2023, established Galiano as a growing gold producer with the capability to produce an average of 240,000 ounces per year over the life of the mine. This transaction added considerable value for our shareholders, transforming Galiano into an emerging mid-tier gold producer."
GALIANO GOLD | 2023 SUSTAINABILITY REPORT
OVERVIEW
ABOUT THIS REPORT
[GRI 2-3]
Since 2014, Galiano Gold has published annual sustainability reports detailing our efforts in responsible business conduct, governance, and those economic, environmental, and social impacts most relevant to our stakeholders. We are dedicated to transparently communicating our sustainability and ESG priorities, performance, and continual improvement. This report presents the AGM data on a 100% basis, covering material economic, environmental, and social impacts from January 1 - December 31, 2023.
This report focuses on ESG performance data primarily from the Asanko Gold Mine in Ghana, with additional metrics from the AGM's country office in Accra and our corporate office in Vancouver where available, covering personnel, labour practice, training, and health and safety.
CONTACT POINT FOR QUESTIONS OR COMMENTS
Do you have comments about the contents of our Sustainability Report or the reporting process?
We welcome feedback from any of our stakeholders.
Krista Muhr
SVP, External Affairs & Sustainability
sustainability@galianogold.com
galianogold.com
DEFINING OUR REPORT CONTENT
[GRI 2-5,2-14,2-29,3-1]
Galiano conducts a materiality assessment approximately every two years, or when significant operational changes occur. An updated assessment in 2024 will inform the 2024-2025 reports.
The 2023 sustainability topics and impacts were validated through consensus with senior management at the corporate level, as well as with AGM management and Heads of Department (HODs), reflecting stakeholder priorities.
The assessment considered our organizational context, business strategy, corporate policies, local laws, international standards, regulatory developments, industry publications, and stakeholder relationships, all within a sustainability context.
The content underwent comprehensive review by Company executives, the Sustainability Committee, and the Board of Directors confirm balanced coverage of all priority ESG impacts.
While Galiano did not seek external assurance for the 2023 data, independent, third-party reviews of key social and environmental topics are conducted as needed. For example, the Company's Tailings Storage Facility (TSF) due diligence includes quarterly reviews and annual audits by the Engineer of Record (EoR), and annual reviews by the Independent Tailings Review Panel (ITRP), providing best practice advisory services to the Company's senior management team and Sustainability Committee.
The Company's ESG disclosures and metrics align with sustainability reporting standards, including the Global Reporting Initiative (GRI) and the Metals & Mining Sustainability Accounting Standard (SASB). A collated summary is available in our online ESG Data Table/s here.
2014 has sustainability
responsible governance,
impacts
GALIANO GOLD | 2023 SUSTAINABILITY REPORT
OVERVIEW
GALIANO'S 2023 MATERIAL TOPICS
[GRI 3-2]
2023 MATERIAL TOPICS | SUB-TOPICS | CHANGE OVER 2022 | |
ENVIRONMENT | |||
ENVIRONMENTAL STEWARDSHIP & COMPLIANCE | Water Management । Tailings Management । Noise & Dust | Same/No Change | |
Waste management । Land Management । Biodiversity । Mine Closure Planning | |||
ENERGY & CLIMATE CHANGE | Energy । Climate Change । Reporting | Reporting added due to future Task Force for Climate-related Financial Disclo- | |
sures | |||
SOCIAL | |||
HUMAN RIGHTS | Illegal Mining । Security । Resettlement | Resettlement re-added in preparation for partial RAP implementation for Abore | |
Responsible Supply Chains added considering Bill S211 | |||
Grievance Mechanisms । Responsible Supply Chains | |||
STAKEHOLDER ENGAGEMENT | Ongoing and proactive engagement with impacted and affected stakeholders | Same/No Change | |
Quality of relationship with impacted and affected stakeholders | |||
OUR PEOPLE | Labour Relations । Employee Mental Health । Employees & Contract Workers | Employee Mental Health added | |
Training & Development । Diversity & Equal Opportunity | |||
HEALTH & SAFETY | Safe and Fair Workplace । Safety Performance । Health & Safety in the Supply Chain | Health & Safety in the supply chain added | |
Health & Safety Training । Road Safety । Community Health । Malaria | |||
CONTRIBUTING TO COMMUNITY | Community Relations । Economic Contributions | Same/No Change | |
Local Procurement/Developing । Local Economies Community Investment | |||
GOVERNANCE | |||
GOVERNANCE | Policy landscape to support sustainability strategy and performance | Climate action integrated into the Environmental Policy, the Sustainability | |
Committee mandate and the creation of a Tailings Management Policy | |||
GALIANO GOLD | 2023 SUSTAINABILITY REPORT
Achieved Partially Achieved Not Achieved
OVERVIEW
ENVIRONMENTAL STEWARDSHIP &
COMPLIANCE
Significant Environmental Incidents
GOAL: Zero incidents
Water Quality Management
GOAL: Maintaining proper quality and quantity water management controls are in place
Reclamation
GOAL: Conduct environmental reclamation activities for Obotan (10 ha) and Esaase (15 ha)
ISO 14001 Certification
GOAL: Start work towards ISO 14001:2015
Environmental Management System
Certification
ENERGY AND CLIMATE CHANGE
Climate Financial Disclosures
GOAL: Complete the risk assessment and the TCFD study including the future setting of emission targets
Renewable Resources
GOAL: Operationalize Volta River Authority Agreement to source 12% of AGM's energy needs are from renewable sources (solar)
Energy Efficiency
GOAL: Finalize remaining action items from the 2021 AGM Energy Efficiency Audit
OUR PEOPLE
MINCOM Certification
GOAL: Increase certification score to 95% for labour
Workforce Development Plan
GOAL: Develop and implement a Workforce Development Plan for recruitment and training
Talent Management Framework
GOAL: Develop a Talent Management framework to align with AGM's business needs
Community Talent Pool
GOAL: Develop a Community Talent Pool to serve as the preferred source for AGM local labour needs
HEALTH & SAFETY
Zero Harm
GOAL: Focus on getting back to Zero Harm at the AGM after fatalities in Q1 2023
Reporting
GOAL: Incorporate Visible Felt Leadership and High Incidence Reporting into contractor performance management
Malaria
GOAL: Reduce Malaria Incidence Rate by 5% to a target of 31.43 per 1,000 employees
Safety Audit
GOAL: Finalize AGM Safety Audit recommendations and review contractor safety management systems
Wellbeing Program
GOAL: Launch an official Mental Health Program as part of the AGM Employee Wellbeing Program
HUMAN RIGHTS
Human Rights Training
GOAL: Formally incorporate human rights training into the AGM Induction process
Human Rights Impact Assessment GOAL: Continue implementation of select recommendations
Security Personnel Training
GOAL: Implement Voluntary Principles on Security and Human Rights refresher training to all private and public security AGM personnel
CONTRIBUTING TO COMMUNITY
Esaase Community Hospital
GOAL: Formal handover to District Authorities
Community Water Source
GOAL: Undertake periodic sampling and testing
Asanko Opportunity Cycle
GOAL: Carry-out planned strategic community investment initiatives
Community Infrastructure
GOAL: Support the SRFs (Obotan, Esaase) in the implementation of sustainable community infrastructure projects
Supply Chain
GOAL: Continue to engage with key suppliers to enhance capacity to meet the requirements of a reliable and cost-effective local supply chain
GOVERNANCE
Ghana Mineral Commission ("MINCOM")
Certification
GOAL: Increase scores to 95% for environmental audit and Labour
International Cyanide Management Code (ICMC) Certification
GOAL: Maintain certification
Independent Tailings Review Panel (ITRP) GOAL: Implement selected action log items
ECONOMIC
Mining
GOAL: Restart mining at the AGM in Q4
Production
GOAL: Achieve production and revised cost guidance of 100,000-120,000oz of gold at all-in sustaining costs of between $1,650-$1,750/oz
Tailings Storage Facility*
GOAL: Complete the TSF Stage 7 on time and on budget
*Not achieved on time but completed (March 2024)
GALIANO GOLD | 2023 SUSTAINABILITY REPORT
STEWARDSHIP & COMPLIANCE |
Increase MINCOM certification scores to 95% for |
environmental audit |
Conduct environmental reclamation activities for Obotan (10 ha) and Esaase (15 ha)
Engage MinCom on the possible opportunities between progressive reclamation and the expansion of agricultural opportunities for the catchment communities
Zero significant environmental incidents
Maintaining proper quality and quantity water management controls are in place
Obtain ISO 14001:2015 Environmental Management System Certification
ENERGY AND CLIMATE CHANGE
Climate Action Policy
Update the risk assessment and the TFCD study including the future setting of emission targets
Operationalize the agreement with the Volta River Authority to ensure that ~18% of the AGM's energy needs are from renewable sources (solar)
Finalize the action items from the AGM Energy Efficiency Audit
HUMAN RIGHTS
Undertake the HRIA audit of the AGM supply chain, tailings, workforce and resettlement framework
Undertake a third-party review of the progress of the existing AGM HRIA action log which identifies ongoing salient human rights issues at the AGM
Full refresher of the Voluntary Principles on Security and Human Rights to all private contractor and public security personnel at the AGM
OUR PEOPLE
Increase MinCom certification score to 95% for labour
Implement the 2024 Workforce Development Plan for labour resourcing
Develop a Talent Management Framework to align with AGM's business needs
Develop a training matrix to capture mine-wide competency requirements
Sustain the implementation of the community labour agreement
HEALTH & SAFETY
Work to attain Zero Harm at the AGM
Reduce malaria incidence rate by 5% to a target of 31.66 per 1000 employees
Complete independent safety audit on mining contractors
Launch an official Mental Health Program to form part of the existing AGM Employee Wellbeing Program
Roll out Visible Felt Leadership and High Incidence Reporting into contractor performance management
CONTRIBUTING TO COMMUNITY
Deliver community investment initiatives as per our Asanko Opportunity Cycle
Continue to provide technical and administrative support to the Social Responsibility Forums (Obotan, Esaase) in the implementation of sustainable community infrastructure projects
Carry out an audit on the effectiveness of company-sponsored investment programs and the delivery of direct value to the catchment communities
Continue to engage with our locally active key suppliers and support them to enhance their capacities to meet the requirements of a reliable and cost-effective supply chain
GOVERNANCE
Maintain ICMC certification
Implement select ITRP action log items and advance international best practices for tailings facility where appropriate
Complete the detailed design of TSF Stage 8
Approval of a Tailings Management Policy
ECONOMIC
Achieve production and cost guidance of 140,000 to 160,000 oz of gold at all-in-sustaining costs of between $1,600/oz to $1,750/oz
GALIANO GOLD | 2023 SUSTAINABILITY REPORT
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Galiano Gold Inc. published this content on 09 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 July 2024 13:00:02 UTC.
