Ford Motor Company’s New Membership in IRMA to Support Its $22B Electric Vehicle Commitment
Vancouver, BC, Canada, February 19, 2021 – Deer Horn Capital Inc. (CSE: DHC) (the "Company" or "Deer Horn Capital"), reports that, further to its February 16, 2021 news release regarding staking of mineral claims on Indigenous lands and Deer Horn's membership with the Initiative for Responsible Mining Assurance (IRMA), Ford Motor Company has become the first American automaker to join IRMA alongside BMW and Mercedes-Benz. IRMA's world-leading responsible mining standard was formed to meet the global demand for more socially and environmentally responsible mining.
In a recent news release, Ford stated that its IRMA membership represented an expansion of the company's commitment to safeguard human rights, communities where such work is done, and the broader environment. Ford has also committed to lead the electric vehicle and sustainable mobility revolution, nearly doubling to $22 billion what it will invest in developing electric vehicles and creating environmental solutions.
Ford stated: "The (IRMA) membership is another step towards the company's human rights aspiration to responsibly source all raw materials used within vehicles globally – a journey Ford has been taking steps toward for over 20 years." Ford noted this initiative will increase the company's reliance on mined material, particularly related to production of electric vehicle batteries.
"We're pleased to see more and more major users of metals joining IRMA," said Deer Horn President and CEO Tyrone Docherty. "As we expand our exploration reach into Indigenous lands, and also at our Deer Horn gold-silver-tellurium project, working with the free, prior and informed consent of Indigenous peoples, we believe we are setting the standard for responsible exploration in the Province. Having a leading company like Ford support this initiative is validating and encouraging."
To date, Deer Horn Capital is the only junior mining company to gain IRMA membership.
"Our exploration focuses on gold, silver, tellurium and copper," said Docherty. "The NI 43-1010 tellurium resource at our Deer Horn property, along with significant tungsten mineralization, provides other avenues for growth as green technology expands. Tellurium has been listed as a 'critical metal' for renewable energy and technology, especially solar energy and next-generation batteries to power electric vehicles. Tungsten is also a critical metal, as it's vital to a broad spectrum of commercial and defense applications—including the drills we use to explore."
Further information about IRMA is available here.
About Deer Horn Capital
Deer Horn Capital's unique business model is based on leveraging diverse partnerships to generate revenue and value. Working with Indigenous peoples, NGOs, governments and industry, Deer Horn Capital explores for metals in British Columbia and helps indigenous communities grow and thrive through various industrial, social and environmental ventures.
Deer Horn Capital proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent. Deer Horn Capital has been a vocal advocate of the BC Declaration on the Rights of Indigenous Peoples Act since its introduction and passage in the British Columbia legislature in November 2019. Deer Horn Capital also supports federal Bill C-15, the United Nations Declaration on the Rights of Indigenous Peoples Act.
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