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Silvercorp Metals Inc
Symbol SVM
Shares Issued 174,870,964
Close 2020-11-23 C$ 8.69
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Silvercorp sees 5 Chinese mines get "green mine" label

2020-11-23 17:26 ET - News Release

Mr. Lon Shaver reports

SILVERCORP'S MINES ACHIEVE "GREEN MINE" CERTIFICATIONS

Silvercorp Metals Inc.'s TLP, LME, LMW and HPG mines in the Ying mining district, Henan province, and GC mine, Guangdong province, have been certified as "green mines" in China. A "green mine" is a certification awarded to mines that minimize adverse impacts on the environment and adopt scientific design and measures to ensure sustainable development from mine development to closure.

Generally, a green mine designation allows for a more favourable treatment from different levels of government, including in relation to priority rights to mining resources, improved land security for mine construction, and finance and tax support through co-ordinated policies.

Certification status

On Oct. 23, 2020, the TLP, LME, LMW and HPG mines passed a six-day on-site inspection and assessment by an independent third party appointed by the Department of Natural Resources of Henan province, with scores exceeding 80 per cent, and were enlisted as "national green mines." Final certification will be issued by the Ministry of Natural Resources of China.

The GC mine also passed an independent, on-site inspection and assessment to be enlisted as a national green mine by the Department of Natural Resources of Guangdong province on Sept. 26, 2020.

Silvercorp's SGX and HZG mines both received the designation of national green mine in November, 2015.

Review and assessment process

To qualify as a national green mine, amongst other things, the mine owner must not have been penalized in the past three years by national resources or environmental regulators. Green mine assessments cover a broad range of topics, including:

  • Rights and licences: operate with and in compliance with relevant mining rights and licences, national laws, regulations, industrial policies, national mineral resources plans, and geological environment protection plans;
  • Environmental impact assessment: State-approved plans with water and soil conservation measures and comprehensive safety assessments, security bonds for environmental restoration;
  • No incidents: no reported production accidents, deaths, environmental accidents or administrative penalties imposed within the two years prior to the application;
  • Efficient operations: promote technological innovation in mining and processing to maximize extraction and minimize waste through recycling;
  • Stakeholder impacts and relationships: generate social, environmental and community benefits in addition to economic benefits (taxes, fees and profits) inside and outside the organization;
  • Promote energy efficiency: employ new, energy-saving technologies and processes to reduce energy consumption;
  • Environmental protection and reclamation: minimize dust pollution, material stockpiles, forestry impacts and soil loss, and control waste discharges;
  • Management and supervision: organizational structure and internal controls to ensure sufficient oversight and continuous safety at all operations.

Each mine that has been included in the national list of green mines is subject to continuing supervision and random site audits by the provincial departments of natural resources. Mines that do not satisfy the requirements are removed from the national list and will be closed.

About Silvercorp Metals Inc.

Silvercorp is a profitable Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China. The company's goal is to continuously create healthy returns to shareholders through efficient management, organic growth and the acquisition of profitable projects. Silvercorp balances profitability, social and environmental relationships, employees' well-being, and sustainable development.

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