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Tailings management

At MMG, the safe and responsible management of tailings and Tailings Storage Facilities (TSFs) is a critical material risk and a core component of our environmental and social risk management. Our approach is embedded in our dedicated Tailings Storage Facilities and Water Storage Dam Standard, and as members of ICMM, we are committed to reporting in line with global frameworks, including the Global Industry Standard on Tailings Management (GISTM).

Governance  

MMG has established critical roles to ensure accountability and responsibility:

  • Responsible Tailings Facility Engineer assigned to each TSF
  • Engineer of Record (EoR) assigned to each TSF
  • Independent Technical Review Boards (ITRBs) or Senior Independent Technical Reviewers (SITRs)
  • Accountable Executives

Oversight from the Executive Committee and the Governance, Remuneration, Nomination and Sustainability (GRNS) Committee of the Board.

In 2024, MMG completed independent reviews of all active TSFs and updated risk registers in accordance with GISTM and the ICMM Performance Expectations.

Lifecycle management

MMG applies a comprehensive lifecycle approach to the management of all TSFs covering:

  • Strategic planning
  • Design and construction
  • Operations and maintenance
  • Emergency preparedness
  • Closure and post closure monitoring

Community and stakeholder engagement  

MMG engages with host communities, local authorities and regulators where required to ensure awareness and preparedness in the unlikely event of a TSF emergency. This includes:

  • Community briefings on TSF safety and emergency response
  • Joint emergency drills with local authorities
  • Accessible grievance mechanisms for tailings-related concerns

Climate Risk and Financial Assurance

We assess climate-related risks such as extreme rainfall in TSF design and monitoring. These risks are integrated into our enterprise risk management (ERM) framework and disclosed under TCFD.

MMG maintains adequate financial provisions for the safe closure and rehabilitation of TSFs, aligned with IFRS S1 and GRI 201, and reports aligned with global frameworks including GISTM, Global Reporting Initiative (GRI) 306, Hong Kong Stock Exchange (HKEX) Environment, Social and Governance (ESG) Code, and International Financial Reporting Standard (IFRS) IFRS S1/S2.

Reporting and disclosure

As a member of ICMM, MMG is committed to tailings governance transparency and alignment with GISTM disclosure requirements.

On 5 August 2025, we released our 2025 GISTM Disclosure Report for seven of our TSFs, aligned with Principle 15 of GISTM.

You can find the report here.

In late 2025, we will review each of each site’s GISTM action plans to ensure we continue to improve our processes and will engage with third parties to support this review. We will provide further updates on our progress in 2026.

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