teranga Gold

Published : June 17th, 2016

Teranga Gold Receives United Nations Global Compact Network Canada Sustainability Award

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Teranga Gold Receives United Nations Global Compact Network Canada Sustainability Award

TORONTO, ONTARIO--(Marketwired - June 17, 2016) -Teranga Gold Corporation ('Teranga' or the 'Company') (TSX:TGZ) (ASX:TGZ) is pleased to announce that the Company has been named a Canadian Sustainable Development Goal award winner through public voting by the United Nations Global Compact Network Canada as recognition for its efforts in advancing the United Nations 17 Sustainable Development Goals ('SDGs') within its core business strategy.

'As the first industrial gold mine in Senegal, we feel it is important to set the benchmark for responsible mining in the country,' stated Richard Young, President and Chief Executive Officer of Teranga. 'This award from the United Nations Global Compact Network Canada supported by all of our voters validates our hard work and the tremendous progress we have made to-date in addressing the needs of the local communities in the areas of food security, youth education and training, and sustainable economic growth, which are the pillars of our Teranga Regional Development Strategy ('TDS').'

Added Mr. Young, 'We are proud of the progress we have made in implementing the TDS and its 78 actions which were established to address the community's short and long-term sustainable development requirements. Through the TDS, we have integrated the SDGs best practices into all aspects of the mine life cycle from mitigating our impacts on the environment and our communities to sharing the benefits through our social fund investments, local procurement practices and long-term development partnerships.'

Teranga's SDG Priorities

The Company puts significant time and resources into initiatives that address the highest priority needs of the Kedougou and Tambacounda regions, the areas surrounding its operations, facilitating the advancement of the specific SDGs outlined below:

  • SDG #2 'No Hunger': In an effort to develop local agriculture and food security, Teranga has created a market garden program that helps more than 600 women from the local communities create sustainable livelihoods. As well, the Company is working with the communities to improve animal health and husbandry skills, particularly in the poultry sector, through the donation of equipment and technical services.
  • SDG #4 'Quality Education': Teranga is a strong advocate of local youth education, providing a number of bursaries (to high school and secondary level students), hands-on vocational skills training (focusing on agricultural skills and technical maintenance), and equipment and infrastructure to schools benefiting 1,850 pupils.
  • SDG #8 'Good Jobs and Economic Growth': Teranga employs 1,032 Senegalese out of a total 1,126 employees, of which 52% are specifically from the Kedougou and Tambacounda regions. The Company prioritizes employee progression and promotion over external hiring, with close to 200 employees having progressed and or been promoted in 2015. Over 40 training programs ranging from literacy to business skills development are provided to employees. Teranga is also focused on sustainable economic growth initiatives, such as the revival of the once prolific cotton industry and local procurement skills development, that will provide economic benefits well beyond its life of mine.
  • SDG #17 'Partnerships for the Goals': Teranga has consummated long-term partnerships with Canadian and Senegalese governments, NGOs and other organizations focused on regional development. Its partnership with Global Affairs Canada resulted in the creation of the Canadian Cooperation Roundtable and the completion of Kedougou's departmental development plans, making Kedougou the first Senegalese region to prepare the groundwork for regional socio-development.

Mining Responsibly

Teranga has also been acknowledged by the Corporate Knights Future 40 Responsible Corporate Leaders in Canada for three consecutive years and in 2015 was ranked 17. Teranga is a member of the United Nations Global Compact and a leading member of the multi-stakeholder group responsible for the submission of the first ever Senegalese Extractive Industries Transparency Initiative ('EITI') revenue report. Teranga publishes an annual Responsibility Report in accordance with its commitments under the United Nations' Global Compact and in alignment with the Global Reporting Initiative (GRI) guidelines. To view the Company's 2015 Responsibility Report, visit www.terangagold.com/2015responsibilityreport.

About The SDG Awards

The United Nations 17 SDGs address the most important environmental, social, and economic challenges of our time. The SDG Awards aim to recognize the outstanding efforts of Canadian businesses that are putting Canada and the world on a more sustainable path by advancing these goals. For more information on the United Nations SDGs, visit sustainabledevelopment.un.org/sdgs.

About Teranga Gold

Teranga is a Canadian-based gold company listed on the Toronto Stock Exchange (TSX:TGZ) and Australian Securities Exchange (ASX:TGZ). Teranga is principally engaged in the production and sale of gold, as well as related activities such as exploration and mine development in Senegal, West Africa.

Teranga's mission is to create value for all of its stakeholders through responsible mining. Its vision is to explore, discover and develop gold mines in Senegal and greater West Africa, in accordance with the highest international standards, and to be a catalyst for sustainable economic, environmental and community development. All of its actions from exploration, through development, operations and closure will be based on the best available techniques. For more information, please refer to www.terangagold.com.

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teranga Gold is a development stage company based in Canada.

teranga Gold is listed in Canada. Its market capitalisation is CA$ 1.3 billions as of today (US$ 1.0 billions, € 863.4 millions).

Its stock quote reached its lowest recent point on February 05, 2016 at CA$ 0.38, and its highest recent level on February 16, 2021 at CA$ 12.33.

teranga Gold has 107 350 000 shares outstanding.

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