Company Directory - Solaris Resources Inc.
Company Details - Solaris Resources Inc.
Solaris Resources Inc.
WebsiteSolaris Resources Inc. is a resource exploration company focused on mining. The company is dedicated to unlocking the potential of mineral resources, engaging in various mining projects and striving to generate value for its stakeholders and the communities in which it operates.
CCI Score
CCI Score: Solaris Resources Inc.
-58.51
0.03%
Latest Event
Indigenous Complaint Over Inadequate Risk Disclosure
Indigenous organizations, including Amazon Watch, MiningWatch Canada, and the Shuar Arutam People, filed a formal complaint with the British Columbia Securities Commission alleging that Solaris Resources Inc. failed to provide shareholders with a complete picture of significant public opposition and legal risks associated with its planned copper mine in southern Ecuador.
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QUISLING
Solaris Resources Inc. is currently rated as a Quisling.
Latest Events
- MAR052024
Indigenous organizations, including Amazon Watch, MiningWatch Canada, and the Shuar Arutam People, filed a formal complaint with the British Columbia Securities Commission alleging that Solaris Resources Inc. failed to provide shareholders with a complete picture of significant public opposition and legal risks associated with its planned copper mine in southern Ecuador.
-70
Business Practices and Ethical Responsibility
April 4
The complaint asserts that Solaris Resources Inc. misrepresented critical risk factors by omitting details about strong public opposition and potential legal challenges. This lack of transparency and accountability in their business practices undermines trust with stakeholders and marginalizes Indigenous concerns, reflecting poorly on ethical responsibilities.
Indigenous organization levels complaint against Canadian mining company
- MAR022024
On March 2, 2024, an Ecuadorian indigenous nation, the Shuar Arutam People (PSHA), along with several allied organizations, filed a formal complaint with the British Columbia Securities Commission. The complaint alleges that Solaris Resources Inc. failed to provide continuous and transparent disclosure of material information regarding its Warintza mining project, which encroaches upon indigenous territory, and pursued agreements with communities not authorized to represent the indigenous collective.
-40
Public and Political Behavior
April 4
Solaris Resources' failure to provide transparent disclosures related to politically sensitive mining operations, particularly those impacting indigenous lands, undermines democratic accountability and raises concerns about the company's public and political behavior. The act of bypassing proper consultation and dividing communities further exacerbates the issue.
Solaris Resources: Ecuadorian Indigenous Nation Files Complaint With BCSC For Failure To Disclose
-50
Business Practices and Ethical Responsibility
April 4
The complaint highlights a serious lapse in business practices and ethical responsibility, as Solaris Resources failed to disclose material risks and engage with indigenous communities as mandated by national and international obligations. This neglect of ethical disclosure practices indicates a disregard for the rights and interests of marginalized groups.
Solaris Resources: Ecuadorian Indigenous Nation Files Complaint With BCSC For Failure To Disclose
- FEB292024
Indigenous communities along with environmental groups including Amazon Watch, MiningWatch Canada, and the Shuar Arutam People filed a complaint with the British Columbia Securities Commission alleging that Solaris Resources Inc. failed to fully disclose significant public opposition and legal risks associated with its proposed copper mine in southern Ecuador. The complaint, lodged on February 29, 2024, comes amid heightened scrutiny during a major mining conference in Toronto.
-50
Business Practices and Ethical Responsibility
April 4
The company's alleged failure to provide a comprehensive overview of legal risks and public opposition, particularly affecting Indigenous communities and validated by multiple environmental organizations, reflects poor business practices and a lack of accountability. Such behavior undermines shareholder trust and compromises ethical responsibility in corporate operations.
Controversy surrounds canadian company Solaris Resources Inc.
- FEB292024
Indigenous organizations led by the Shuar Arutam People (PSHA) filed a complaint with the British Columbia Securities Commission alleging that Solaris Resources Inc. failed to continuously disclose material information regarding its Warintza mining project and neglected its Free, Prior and Informed Consent obligations. The complaint highlights the company's use of a 'Strategic Alliance' with two communities to manufacture social license, despite overwhelming opposition from broader indigenous groups.
-80
Labor Relations and Human Rights Practices
April 4
Solaris Resources Inc.'s approach to its Warintza mining project demonstrates a disregard for indigenous rights and ethical business practices. The company has failed to obtain legally required and genuine Free, Prior and Informed Consent from the indigenous communities whose ancestral lands are affected. This misrepresentation and deliberate omission of material risks misleads investors and undermines the human rights of indigenous peoples, warranting a strongly negative score.
- NOV202023
Solaris Resources Inc.'s recent strategic moves to advance the Warintza mining project—including seeking new financing, appointing a new COO, and forming selective alliances with only two indigenous communities—have triggered a public outcry. On November 20, 2023, the Pueblo Shuar Arutam (PSHA) issued a statement rejecting the project's sale and criticizing the company's failure to adhere to free, prior, and informed consultation standards, thereby undermining indigenous self-determination and risking significant environmental, legal, social, and reputational harm.
-80
Labor Relations and Human Rights Practices
April 4
Solaris Resources Inc. has failed to secure a proper social license for its Warintza project by not engaging in genuine, inclusive consultations with all affected indigenous communities. By selectively aligning with only two of 47 Shuar groups and disregarding established international standards, the company exhibits poor labor relations and human rights practices, which can further fuel social division and undermine indigenous rights.
Indigenous Organization Opposes Sale of Controversial Warintza Mining Project in Ecuadorian Amazon
- SEP082023
Solaris Resources Inc. announced the signing of an Impacts and Benefits Agreement (IBA) for the Warintza Project following claims of a successful prior consultation process with the Shuar Arutam People. However, the Shuar Arutam People's Government Council condemned these statements as false and accused the company of violating indigenous rights.
-70
Labor Relations and Human Rights Practices
April 4
Solaris Resources Inc. promoted a narrative of having completed a successful prior consultation process with the Shuar Arutam People, which was later publicly condemned by the indigenous council representing 45 centers. The allegations of rights violations and misleading communication indicate a failure to uphold ethical labor and human rights practices, warranting a negative score under Labor Relations and Human Rights Practices.
- MAR062023
Research by Amazon Watch reveals that Solaris Resources Inc.'s Warintza Project in Ecuador is advancing without obtaining broad indigenous consent. The report details how the company used divide and conquer tactics—engaging only a small number of supportive communities—to manufacture the appearance of stakeholder buy‑in, while the vast majority of the Shuar Arutam people oppose the project. This approach raises significant human rights, environmental, and political concerns.
-70
Public and Political Behavior
April 4
Solaris Resources Inc. engaged in deceptive public tactics by selectively consulting only two supportive communities, thereby manufacturing consent while ignoring the overwhelming opposition from the indigenous majority. This manipulation of public perception poses serious risks by obscuring the true scope of rights violations and environmental harm, aligning with authoritarian practices in silencing dissent.
New Research Exposes Rights Violations and Financial Risks with Solaris Resources Mining in Ecuador
-85
Labor Relations and Human Rights Practices
April 4
The report underscores grave human rights violations as Solaris bypassed the consent of the vast majority of the Shuar Arutam people. By cherry-picking only two communities for consultation, the company demonstrates a blatant disregard for indigenous rights and ethical business practices, thereby exposing both local populations and investors to severe risks.
New Research Exposes Rights Violations and Financial Risks with Solaris Resources Mining in Ecuador
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Industries
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- Support Activities for Nonmetallic Minerals (except Fuels) Mining
- 541620
- Environmental Consulting Services
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- Copper, Nickel, Lead, and Zinc Mining