April 30, 2024
Carving a Path for Women in Mining: Meet Community Relations Manager Angélica Calderón
Angélica Calderón has been breaking ground in the mining industry for nearly 40 years.
Currently serving as Calibre’s Community Relations Manager in Nicaragua, based at the Borosi Gold Mine, Angélica is on the frontlines of upholding Calibre’s commitment to operate respectfully in host communities and to engage stakeholders, including rural and Indigenous communities in Nicaragua.
Within Calibre and the local community, Angélica’s talent and reputation are well-known. Recently she was also recognized internationally with the prestigious Mujeres de Oro (Women of Gold) award from Women in Mining Central America. Presented at the PDAC 2024 Central America and Caribbean Day March 3, the award celebrates outstanding contributions of Central American and Caribbean women to the mining industry.
Calibre Community Relations Manager Angélica Calderón (third from right) receives her Mujeres de Oro (Women of Gold) award March 3 at PDAC 2024, for her outstanding contributions to the mining industry.
A career of firsts for women in mining
With a distinguished career in mining spanning four decades, Angélica definitely fit the bill of “outstanding contributions.” She started in mining in 1984, after completing higher technical studies in geology. Her first role was as a field geologist, collecting and analyzing mineral samples and deposits at Limón Mine (now a Calibre holding).
“I was the first woman there, and it was really hard to work with the miners at the time, because they didn’t accept having a woman around,” she recalls. Over time, she managed to build relationships, and acceptance followed.
With so few role models in the industry at the time, who inspired Angélica to blaze her own trail? “I’d have to say my mom, because she worked outside the home when I was growing up,” she says. “We never had a problem, so when I think of someone who could walk out into the world and do anything … I think of my mom.”
Angélica in the field, visiting local communities in Nicaragua.
Eventually, Angélica transitioned into mineral exploration, where she discovered a passion for working with people. “In exploration, you have to visit properties, talk to people and secure permits,” she says. Her skill at forging connections and working with stakeholders paid off, and she moved into a new role – community relations – in 2005.
She joined Calibre’s Nicaragua team in 2009, helping to implement the Company’s community relations program nationally.
“Angelica has been fundamental to our success in Nicaragua,” says Petri Salopera, Calibre’s Senior Vice-President of Sustainability. “Community relations is all about building trust, and having people like her, who are capable of putting themselves in the shoes of the community – serving as a bridge between the community and company – is a formula for success.”
He’s not surprised that Angélica was singled out for a Women in Mining award, he adds: “It’s difficult to imagine a woman with similar experience in Central America or within the mining industry, and I'm really proud to have her on our team.”
Calibre Community Relations Manager Angélica Calderón (second from left) and Senior Vice-President of Sustainability Petri Salopera (to her right) tour Borosi Mine, on the north-Caribbean side of Nicaragua, during construction.
How Calibre supports women in mining
Salopera’s appreciation extends to many other female Calibre team members who play key roles in the Company’s success. As examples, he points to Environmental Senior Manager Alejandra Madriz, Senior Manager of Social Performance & Sustainability Planning Luz Habed, and Communications Manager Anne Pérez Rivera.
“We have very talented women within our organization, and I’m personally very proud that in the Department of Sustainability, we have been able to promote many of them to very crucial positions,” he says. “They exemplify the many opportunities for women in our company, and there is no limit for them to grow and continue developing their careers with Calibre.”
Calibre is working to recruit more women to roles in the mining industry worldwide – including heavy truck drivers.
In Nicaragua, Calibre is also working to bring more women into the mining industry, and the company. This is exemplified by a recent heavy-truck training course hosted at the Borosi mine, for which the Company actively recruited women. Six of the course participants were women; three of whom now work for the Company.
While these numbers may seem small, they represent significant progress: “Especially in rural areas, it’s uncommon to see a woman driving a big truck. So to see them happy and succeeding in this type of role is great,” says Angélica.
In cooperation with Nicaragua’s Technical Education and Vocational Training Institute (INATEC), Calibre helped 43 women in Riscos de Oro, near the Borosi Mine, receive bakery and confectionery training.
Beyond mining, Calibre sponsors and provides a variety of livelihood opportunities and programs for women in its host countries and communities. For instance: in alliance with Nicaragua’s Technical Education and Vocational Training Institute (INATEC), the Company recently helped 43 women in Riscos de Oro, near Borosi, receive bakery and confectionery training.
In communities around the Pavon Gold Mine, Calibre sponsored a program to provide improved stoves in 120 households, reducing indoor smoke. “In Nicaragua, women are the pillar of the family, and this is a game-changer for family health,” says Salopera. “And there is an environmental dimension because the new stoves require much less firewood.”
Participants of a Calibre-sponsored entrepreneurship program for women, near the Pavon Mine in Nicaragua, receive technical assistance and microloans for small ventures.
Also near Pavon Mine, Calibre partnered with the Center for an Understanding with Nature (CEN) and the Pioneer Women of the Mountains Network in 2020 to found an ongoing entrepreneurship program for women in local communities. In 2022, 70 businesswomen received technical assistance for developing business plans, thanks to the program, and earned microloans to initiate or consolidate small ventures.
Inspiring the next generation of female miners
Although there are more women today than ever before in Nicaragua’s mining industry, Angélica remains part of a small minority. But she has leveraged her trailblazer status to become a role model herself, in hopes of changing this.
In 1980, she joined the Geologists’ Association of Nicaragua. “At the beginning, there were around 10 female members, and now we have more than 100,” she says. In the 2000s, she worked with the association to help recruit students, particularly young women, to the profession: “We have a lot of women in geology overall now, and I think it’s because they saw we could do that.”
Continuing this trajectory, Angélica was proud to take the stage with eight others to accept her Women of Gold award March 3 in Toronto. “It’s an honour for me, but also for all women who work in the mining industry in Nicaragua,” she says. “I hope it will inspire other young people to work in mining, especially women. I believe women are changing the mining industry, so it’s important to continue calling women to become miners.”
Women make up around 16% of those employed in Nicaragua’s mining industry – a number that mentors like Angélica Calderón are hoping to increase.
She remains committed to proving that women belong in the industry, and dispelling the myth that mining is somehow incompatible with family life. “Look at me: I’m a miner – I have two kids. You can be a miner, and you can be a mom and a woman,” says Angélica.
But more importantly, Angélica wants other women to follow their career dreams: “If you like your job, you’ll never feel like you’re working.”
March 11, 2024
How the Valentine Gold Mine Acquisition Positions Calibre for a Growth-Filled Future
Earlier this year, Calibre finalized acquisition of the Valentine Gold Mine in Newfoundland and Labrador, Canada, with initial gold production anticipated in the first half of 2025. Upon full ramp-up, the mine is expected to contribute up to 195,000 ounces of gold per year.
The move made waves across the industry, propelling Calibre to mid-tier gold producer status, and cementing its reputation as a growth-focused industry leader.
Recently Ryan King, Calibre’s Senior VP of Corporate Development and Investor Relations, sat down to chat about Calibre’s first mining foray in Canada, and what it means for the future of the company – and its shareholders.
It’s an exciting time, says King. “On a daily basis, I interact with many new investors, large mutual funds, hedge funds, and institutions,” he says. “And it’s all about educating people on why this is such a positive move.” For starters, it diversifies Calibre’s assets further into another safe, Tier 1 jurisdiction, where valuations trend higher. The re-rate opportunity is significant.
"This transaction builds on our commitment, adding a high-quality gold asset in the final stages of construction with strong exploration upside in one of the top mining jurisdictions in the world." – Calibre President & CEO Darren Hall
The lead-up to Valentine: Calibre’s history of strategic growth
King has more good reasons to be confident; namely Calibre’s track record of success, and its leadership team.
The company first became a producer in 2019, when “Calibre 1.0” – then an exploration company – struck a win-win deal with B2Gold to acquire the company’s assets in Central America. “Calibre had been exploring in Nicaragua for more than 10 years, so it was a jurisdiction the company was familiar with from an environmental, regulatory, and mine-legislation perspective,” says King.
This acquisition also brought together the team currently at the helm, including King, President & CEO Darren Hall, Chairman Blayne Johnson and Lead Director Doug Forster. Hall turned his sharp operational eye on the business, identifying new opportunities for efficiency. The result was the Company’s now-signature hub-and-spoke model in Nicaragua, trucking ore from satellite mines to be processed at either the smaller Limon or larger Libertad processing facility – which unlocked significant shareholder value.
“Using this hub-and-spoke approach, we kept many local people employed, and enabled the Libertad facility to continue running. By responsibly adding new satellite ore sources, Calibre was able to consistently deliver annual production growth, which led to higher operating cash flow and the ability to reinvest back into the assets,” says King. “Moving forward, Darren tasked us with applying this model to new opportunities.” Each subsequent year, the team delivered.
Over time, this yielded consistent results – unlocking significant shareholder value and driving approximately 25% compound annual production growth. It also helped build significant investor confidence, giving the company a platform from which to grow. Which it did, through the addition of Pan Gold Mine in Nevada, a 200-plus-sq. km land package in the multimillion-ounce Battle Mountain Eureka Trend.
“With our producing mines in Nicaragua and Nevada generating strong operating cash flow, we were able to reinvest in the business, which led to a 370 per cent increase in Mineral Reserves, after producing over 700,000 ounces since Q4 of 2019. And we continue to deliver on market expectations,” says King.
“At our current size, and with our anticipated growth profile for 2025 and beyond, we’d begun to attract significant institutional investors,” he adds. This year, for instance, the company is guiding 275,000–300,000-ounces of production. “But we didn’t stop there. We set our sights on building a multibillion dollar company.”
"This transformative merger creates a projected 400,000–500,000 oz. gold producer and offers our shareholders diversification and exposure to high-quality, long-life production in a Tier 1 jurisdiction." –Calibre Chairman Blayne Johnson
The next step: Bringing the Valentine Gold Mine into the fold
The team started looking for a new asset – one either in production, or that could be in production within the next 12 to 18 months. “We focused on opportunities that had been materially de-risked, significantly, from a mineral resource and reserve perspective, as well as from economic-viability, permitting and social perspectives,” says King.
The search landed them on the Valentine Gold Mine, an asset halfway through construction in central-western Newfoundland and Labrador, Canada. Targeted to begin producing in the first half of 2025, the Mineral Resource harbours an estimated five million ounces in all categories.
It had a decade’s worth of exploration and development work under its belt, and was fully funded and permitted, with earthworks essentially complete – presenting a very compelling opportunity for growth. In every metric we could see an accretive transaction,” says King.
A growth-filled future on the horizon
As with any large acquisition, it was no small feat to complete and secure shareholders’ approval – but the deal was finalized in late January of this year.
So what does the Valentine Gold Mine acquisition change for Calibre as an organization? “It’s completely transformational from an investor perspective, but from a cultural perspective, not so much,” says King. “We have an established approach, which Darren set out right from the get-go, and that will evolve into Canada.”
This includes defining clear responsibilities, accountabilities, and authorities to deliver value sustainably and responsibly, incorporating environmental, social and governance considerations into all decision-making, and working closely with community stakeholders to share benefits locally.
Since becoming a producer we have delivered market expectations for 17 quarters, while building a strong and respected social license to operate, notes King: “If you asked stakeholders or communities within Nicaragua about Calibre, I think you'd get a very positive perception of how we do business; employing locally and ensuring environmental stewardship and responsibilities,” he adds. “So it’s about bringing those cultural aspects into Canada and integrating it with the Canadian team.”
To learn more about the Valentine Gold Mine, and the future of Calibre, read our latest news and investor presentation.