In 2017, we launched a bold, five-year growth plan to increase our production by 20%, reduce our all-in sustaining costs by 20% and grow our reserves by 20%. Our strategy is to build governance and accountability mechanisms that position our company to optimize results and safeguard long-term success. Strategic management appointments provide our leadership team the opportunity to manage events that could have reputational, financial, operational, environmental or community impacts. Our Sustainability Excellence Management System (SEMS) as well as our Enterprise Risk Management (ERM) framework help us better identify, manage and mitigate these impacts. We also perform ongoing risk assessments for the local and national geographical areas in which we work. These are multi-faceted assessments that take into consideration the environmental, social, political and economic risks of the countries in which we operate.
The Board of Directors and our Executive Management team recognize the importance of strong corporate governance to effectively manage our company and to protect employees and shareholders. Our approach to issues of corporate governance is designed to ensure that our business and affairs are conducted to enhance long-term shareholder value. Guidelines and requirements for ethical practices are incorporated into various SEMS standards. For more information on our policies, please visit this report’s section on our Corporate Policies.
We are a member of the Mining Association of Canada (MAC). Therefore, our four Canadian operations adhere to the principles of Towards Sustainable Mining (TSM), which is the MAC’s commitment to responsible mining. Established in 2004, TSM is a set of tools and indicators to drive performance and ensure that key mining risks are managed responsibly. Adhering to the principles of TSM demonstrate leadership by: engaging with communities, driving world-leading environmental practices and committing to the safety and health of employees and surrounding communities. The four Canadian operations are in various stages of site assessments and implementation verification. Additionally, the national mining association in Argentina (Cámara Argentina de Empresarios Mineros) agreed to adopt TSM; therefore, we are also working with the mining association to define the appropriate system in Argentina where our Cerro Negro mine is located.