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Fortuna Silver Mines Inc

FSM

Materials

1

exclusion reason

1 theme

Environmental Harm (1)
FSM Materials Current as of March 2026

Fortuna Silver Mines Inc is screened out under 1 exclusion reason spanning 1 issue category.

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. It is a statement of values.

Environmental Damage
Since Oct 14, 2021

Fortuna Silver Mines operates the San Jose Mine in Oaxaca, Mexico, where a tailings dam overflow in October 2018 released mining waste into the surrounding environment following heavy rains. This incident sparked documented local controversy and media investigations over whether the waste contaminated community soil and water sources with toxic materials.

A 2021 journalistic investigation into the company cited original reports indicating the presence of toxic materials at levels that, in some cases, exceeded safety thresholds. Community reports and external analyses have alleged ongoing environmental damage and ecological harm linked to the mine's operations. While a Mexican court reinstated the mine's environmental impact authorization in 2023 and the company states the operation is in compliance, the history of the dam overflow and the persistent allegations of contamination from external sources constitute a documented pattern of environmental impact.

Research Sources 8 organizations

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.