Jantzi Social Index Removes Catalyst Paper, Adds Agnico-Eagle Mines Ltd.

 

(TORONTO) - February 10, 2012 - Today, Sustainalytics announced the following changes to the Jantzi Social Index (JSI)® effective as of the opening of markets on February 10, 2012:

  • Removed from the JSI: Catalyst Paper Corporation (TSX:CTL)
  • Added to the JSI: Agnico-Eagle Mines Ltd. (TSX:AEM)

Catalyst Paper Corporation was removed from the JSI because the company announced that it and certain of its subsidiaries have obtained an Initial Order from the Supreme Court of British Columbia under the Companies' Creditor Arrangement Act.

According to Sustainalytics' environmental, social and governance analysis, Agnico-Eagle ranks well among its industry peer group. The company is a strong reporter, providing extensive quantitative data in its corporate social responsibility reports and following the reporting guidelines of both the Global Reporting Initiative and the Mining Association of Canada's Toward Sustainable Mining Initiative. The company's solid social performance is illustrated by its relations with indigenous communities. In accordance with Canadian legislation, Agnico-Eagle has implemented an impact benefit agreement at the Meadowbank mine in Nunavut, committing to provide employment, education funding and business opportunities to the indigenous people there. Agnico-Eagle has also shown a commitment to employee safety through its strong health and safety management systems resulting in a lower than average fatality rate compared to industry peers.

As a member of the Mining Association of Canada (MAC), the company follows MAC's Guide to the Management of Tailings Facilities. In 2011, the company became a signatory to the International Cyanide Management Code, which is considered a best practice, and committed to seeking certification under the code for three of its four operations that use cyanide. Agnico-Eagle has implemented measures to minimize fresh water consumption; with
recycled water constituting a significant portion of its water supply.

 

 

Disclaimer: Company additions to and removals from the JSI® do not in any way reflect an opinion on the investment merits of the company.