Sudbury, Ontario – May 20, 2021 (Newsfile Corp.) (Investorideas.com Newswire) Magna Mining Inc. (TSXV: NICU) (“Magna” or the “Company”) is delighted to announce carbon neutrality in 2021. By purchasing offset credits for all Greenhouse Gas (“GHG”) emissions produced throughout the year, Magna becomes one of the first carbon neutral nickel exploration companies in the world.
Magna has engaged the corporate sustainability management firm Synergy Enterprises, to estimate GHG emissions from Company activities, including combustion of fuel in exploration equipment, land use changes at the Shakespeare mine site, utility use in the Company and employee home offices and third-party shipping. In early 2022, Synergy is scheduled to complete a full GHG inventory and conduct a reconciliation to ensure that the emissions to be offset are no less than the emissions produced.
To offset its emissions, Magna will be supporting the Niagara Escarpment Forest Carbon Project, which promotes and maintains the function and diversity of ecosystems along Ontario’s Niagara escarpment. The avoided deforestation project, created by Carbonzero in partnership with the Escarpment Biosphere Conservancy, includes 190 managed nature reserves, 15,000+ acres of protected wilderness, 70 kms of trails, and habitats for 62 species of conservation concern. The offset credits will be officially retired from the CSA Registry in the coming days.
“This achievement is the first step in a comprehensive ESG strategy that includes environmental, social and governance best practices. While we are actively working to understand and reduce our GHG emissions, it is important that we take action immediately and offset the impact of unavoidable emissions from exploration activities. At Magna, we are building a culture of ESG accountability and we believe this is a great example of how we translate those values into action,” said Jason Jessup, CEO & Director.
Heidi Grantner, General Manager of Synergy Enterprises, said: “I commend Magna for its efforts to measure, reduce and offset GHG emissions, and I look forward to continuing to work with the Magna team to implement low-carbon strategies at the Shakespeare project.”
About Magna Mining Inc.
Magna Mining is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury Region of Ontario, Canada. The Company’s flagship asset is the past producing Shakespeare Mine which has major permits for the construction of a 4500 tonne per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180km2 prospective land package.
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