Environmental Social Governance

GS Mining Company Plans to be the first ZERO-CARBON Gold Mine in the United States

Central City, Co., November 25, 2021, GS Mining Company LLC (the “Company”) is pleased to announce that it plans to achieve carbon neutrality before 2023 and plans to completely decarbonize its mining and milling operations as soon as possible thereafter.

According to a study by the World Gold Council, approximately 32 thousand tons of greenhouse gasses are released into the atmosphere for every ton of gold produced. The most significant carbon emissions at mining sites stem from the generators and engines that burn diesel fuel. Although the Company’s carbon footprint is small in comparison to the major miners, the Company is determined to do its part in leading the industry to reach net-zero emissions. GS Mining Company will accomplish this not by arranging carbon offsets and planting trees in remote Asian or Australian locations as other companies are doing; instead, the Company has developed a plan to decarbonize its own operations.

The plan to decarbonize includes:

  • GS Mining Company’s plants and facilities are becoming completely electric without diesel generation. The Bates Hunter and Becker Bates Mines are already set up this way and use electricity for their power needs. The Golden Gilpin Mill is presently powered by a diesel generator but is in the process of connecting to the electric grid. The Clay Mine and the Black Eagle Mill have relied on diesel generation but will be electrified when each is put into full operation.

  • According to a recent report by McKinsey & Company, a significant source of mining emissions comes from truck haulage, bulldozers, excavators, and other mobile equipment. That report advises that achieving full decarbonization of these types of equipment requires a shift in drivetrains with either battery electric vehicles or hydrogen fuel cells as long-term options. The Company does use a range of mobile equipment that use diesel from trucks, skid steers, mini excavators, and Kubota RTVs, amongst others. However, major mining companies like Anglo American and Newmont Goldcorp are developing fuel cell haulage trucks and multi-ton fuel cell electric vehicles which will be made available for purchase. Other companies are working on pantograph-charged hybrid vehicles. These are viable options, and the Company is committed to replacing its diesel-burning equipment as soon as practical alternatives become available.

  • A key component to decarbonization is not just electrification of operations but a switch to green energy. Currently, the Company relies upon the local electric company for its power and has no control over how its electricity is produced. However, in exploring alternative options, the Company is in discussions with renewable energy companies to determine the extent to which the Company can utilize its yearly discharge of over 60 million gallons of water to produce energy. The Company is also investigating the use of hydrogen and its own gas-fired power station.

The Company is committed to decarbonization across all operations. Company management believes that this is not only a sound cost-saving program that will redound to the benefit of its shareholders; it is a pathway to maintain the Company’s commitment to the environment and the communities in which it operates.

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GS Mining Company is a green company. Environmental, Social and Governance (ESG) principles, and all that they stand for provide the foundation for what we are building in Colorado. We believe in it and we practice it.

Located on the front range of the Rocky Mountains, GS Mining Company is a committed guardian of the beautiful and historic communities of Central City and Black Hawk in which we operate. We are dedicated to the health, welfare and protection of the local residents, as well as all people living throughout Colorado’s front range. Mining as an industry is historically characterized by one of exploitation of the environment. We are rewriting that story with every drop of water, every ton of soil and every ounce of gold that we pull out of the ground.

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The Enviroment: Dedicated to Responsible Mining

One of the most significant challenges facing mining companies is integrating successful economic development while preserving environmental integrity. The GS Mining Company is committed to the ethical and sustainable development of its resources and the wellness of its surroundings. Our mining meets or exceeds all the standards and requirements of such organizations as Alliance for Responsible Mining, Fairtrade Gold Certification and Fairmined Gold Certificate. We care about the environment and are not only dedicated to minimizing mining’s effects, but also to improving the ecosystems in which we operate.

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Water

We have been pumping an average of 700,000 gallons a week out of the shaft and treating it with our state of the art, EPA/CDPHE licensed water treatment facility.

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Soil/Tailings

By removing the metals and isolating the tailings, we correct the environmental problem before it even starts. To do this, we add cementing and acid-neutralizing agents to dry tailings.

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Gold

We generate “eco-friendly” gold. The gold we produce is mined with minimal ecologic disruption and without using mercury, cyanide or any other similar toxic substance.

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Footprint

 Our operations are mostly underground and have no impact on the neighborhood. Our physical footprint is representative of our limited carbon footprint.

Read More about Our Processes and Procedures for Sustainable Mining

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The gold on Colorado capitol’s dome was installed to commemorate the Colorado gold rush. Central City, and Black Hawk were once internationally acclaimed mining centers. More than one hundred years later the mining and milling have disappeared, replaced by gambling casinos and hotels.

GS Mining Company intends to bring mining back to Central City which was once characterized as the “richest square mile on earth.” Our transparency is evident in our open invitation to our local community to see, firsthand, what we do, how we do it and we solicit their ideas towards complete congruity with the city. Here is a link to interviews with the mayors of Central City and Black Hawk attesting to our community involvement:

Safety

GS Mining Company is committed to the safety and security of our employees and neighbors. When we send people hundreds of feet down into the earth, we insist on the best safety practices in mining. We have an industry leading safety record which is checked quarterly by the Mine Safety and Health Administration. Work begins every morning with an all-hands-on-deck safety meeting. We pay wages many times higher than the local hospitality industry and provide comprehensive medical insurance and retirement benefits to our valued employees.

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Governance

We are a private company that owes its existence and success to a combination of friends, family and investors. Although voting control is held by the families of the founders, we have specific guidelines and safeguards for our minority investors. In addition, we are proud to state that in a male dominated industry our current CEO is a woman, as is our EVP of Digital Assets.