ESG

Endeavour Mining CEO donates 30% of salary to COVID-19 response

The chief executive of Africa-focused gold producer Endeavour Mining, Sébastien de Montessus, has donated 30% of his base salary for the next three months to support COVID-19 health initiatives in communities in which the company operates, including Burkina Faso, Mali and Ivory Coast.

Endeavour Mining says all operations such as Ity, in Ivory Coast, continue as normal, albeit with enhanced safety measures

Endeavour Mining says all operations such as Ity, in Ivory Coast, continue as normal, albeit with enhanced safety measures

Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click here.

Other members of management and the board have agreed to a similar measure, which would be matched by Endeavour for a total donation of US$1 million.

The funds will be deployed by Endeavour's community relations and medical teams to source medical equipment for local community health centres and provide financial support to families and schools impacted by a loss of income due to COVID-19. Endeavour's total COVID-19 community contribution is said to be $6 million.

"The world is currently facing an unprecedented challenge fighting COVID-19 and dealing with the economic, social and health consequences that have arisen. Beyond financial aid, we have leveraged our global supply chain, broader network and medical expertise to obtain key medical supplies to bolster the national authorities' response," said de Montessus.

Endeavour said all operations continued at normal levels with gold shipments and sales ongoing, albeit with increased health and safety measures which is being monitored by an epidemiologist special advisor to Endeavour. It said the few employees who previously tested positive for COVID-19 had successfully recovered, and it had not had any new reported cases.

Endeavour continues to guide for 2020 production of 680,000-740,000pz at AISC of $845-$895/oz.

Endeavour shares (EDV:TSX) are up 28% over the past 12 months at C$24.69, capitalising it at $2.7 billion (US$1.9 billion).

 

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.