MMG Sustainability Framework

At MMG, sustainability is embedded in our purpose and strategy. Our vision is to be a leading international mining company for a low-carbon future, supported by our diverse portfolio of assets, commodities, and jurisdictions. Our Sustainability Framework, endorsed by the Executive Committee and Board, was launched in 2023 and updated in 2024 to reflect evolving stakeholder expectations, regulatory requirements, and global best practice. 

Our Sustainability Framework 

Our Sustainability Framework outlines our approach to health and safety, security, environment, social performance, human rights and other sustainability-related issues across the business. The Sustainability Framework brings together company-wide initiatives and empowers our sites to establish their own aligned priorities. Three key pillars guide this framework: 

1. People and Communities – Health and safety, our people, culture, social engagement and investment are essential to MMG’s commitment to sustainability.
2. Environmental Stewardship – MMG strives to protect communities and natural habitats by minimising our mining footprint in the regions where we operate.
3. Trusted and Responsible Producer – Strong business ethics, transparency, corporate governance and culturally appropriate engagement with all stakeholders defines MMG’s work across complex jurisdictions.

These pillars are supported by seven focus areas and 13 material topics, which are reviewed annually and aligned with internal KPIs and external reporting obligations. Topics are cascaded to Heads of Functions and approved by General Managers, ensuring shared accountability across the business. 

Our Framework is designed to be responsive to stakeholder expectations, industry trends, macroeconomic factors, and evolving reporting and disclosure obligations. We undertake annual materiality reviews and engage with our stakeholders. Our membership in groups such as the ICMM ensures that we are constantly informed of industry-led initiatives. 

For more information about our approach to Sustainability, our key material issues, and how we report our progress, please review our Sustainability Framework below, available in English, French, Spanish, and Chinese.

• MMG Sustainability Framework Factsheet (English) 
• MMG Sustainability Framework Factsheet (Chinese) 
• MMG Sustainability Framework Factsheet (Spanish) 
• MMG Sustainability Framework Factsheet (French) 

People and Communities 

At MMG, our commitment to people and communities is central to our sustainability efforts. We focus on health and safety, fostering a culture of care, promoting diversity and inclusion, and supporting local communities and Indigenous peoples. Our initiatives aim to drive social engagement and investment, enhance local and regional development, and ensure that our operations contribute positively to the long-term wellbeing of our host communities. Through continuous engagement, respect for human rights, and collaborative development projects, we strive to create resilient communities that thrive during and beyond the life of our mines. 

Environmental Stewardship 

We prioritise minimising our environmental impacts through comprehensive plans for preservation and remediation. Our land management spans from exploration to post-closure, incorporating local stakeholder input and traditional knowledge. We comply with local and global standards, including those set by the ICMM. We address long-term land use impacts with progressive rehabilitation and biodiversity plans. In response to growing global interest in nature-related impacts, we developed the MMG Nature Strategy in 2024 to guide our commitment and reporting in this area.  

The Nature Strategy focuses on enhancing biodiversity, building climate resilience, and fostering sustainable development. It goes beyond traditional environmental management by addressing the interconnectedness of nature, climate, and communities. We work closely with local stakeholders and teams to tailor and implement the strategy at each unique site. Our commitment to transparency, responsible stewardship, and continuous improvement guides us in contributing positively to nature, climate, and society. This strategy is integrated within our broader Sustainability Framework and aligns with global standards and reporting obligations. 

Trusted and Responsible Producer  

Being a trusted and responsible producer at MMG involves upholding strong business ethics, transparency, and robust corporate governance. We prioritise culturally appropriate engagement with stakeholders and ensure compliance with national and regional requirements. Our Code of Conduct covers conflict of interest, fraud, anti-corruption, and legal compliance. We are committed to transparency in our operations, including tax and revenue compliance, and actively manage geopolitical risks. By fostering open discussions with host communities and maintaining constructive relationships with governments, we aim to operate responsibly and sustainably. Our sustainability efforts are transparent and accountable, adhering to the Global Reporting Initiative, the Hong Kong Stock Exchange Listing Rules, and the Voluntary Principles on Security and Human Rights. Our internal governance is supported by the Governance, Remuneration, Nomination and Sustainability (GRNS) Committee, with regular reviews to ensure our framework remains effective. 

Commitments and Memberships 

MMG is a proud member of: 

• International Council on Mining and Metals (ICMM) 
• Extractive Industries Transparency Initiative (EITI) 
• Global Reporting Initiative (GRI) 
• Voluntary Principles on Security and Human Rights (VPSHR) 

Our sustainability approach aligns with these memberships and is reflected in our annual Sustainability Report. 

Continuous Improvement – Enhancing Our Sustainability Framework 

Sustainability is a dynamic journey. In 2024, we reduced our material topics from 17 to 13 to better reflect stakeholder priorities and global trends. We also strengthened our governance, launched site-specific workshops, and aligned our assurance processes with financial reporting standards.  We are committed to updating our approach as needed to reflect international best practices and ensure alignment with global ESG standards. 

Clear and Measurable Targets 

We are advancing our sustainability performance through specific, measurable goals across key areas: 

• Water stewardship: MMG is implementing site-specific water management plans, with measurable reductions in freshwater use intensity at all sites. 
• Biodiversity: No net loss across all sites by 2030 
• Tailings management: 100% alignment with the Global Industry Standard on Tailings Management (GISTM) by 2026 

These targets are tracked through our ESG Databook and reviewed quarterly by our Executive Committee. 

Supporting the UN Sustainable Development Goals (SDGs) 

MMG’s 13 material topics are mapped to the SDGs to demonstrate our contribution to global development priorities. Examples include: 

• SDG 5 – Gender Equality: Targeting 40% female representation in leadership roles by 2030. 
• SDG 13 – Climate Action: Committing to a 30% reduction in Scope 1 and 2 emissions by 2030 
• SDG 15 – Life on Land: Implementing our Nature Strategy to protect biodiversity 

Strengthening Governance 

We’ve expanded our governance model to ensure sustainability is embedded across all levels of the business: 

• Site-level Sustainability Leads 
• Quarterly ESG risk reviews 
• ESG performance integrated into executive scorecards and remuneration 

Nature and Climate Risk Integration 

Our Nature Strategy, launched in 2024, is being aligned with the Taskforce on Nature-related Financial Disclosures (TNFD). This includes: 

• Nature-related risk assessments 
• Financial impact modelling 
• Integration into enterprise risk management 

These efforts complement our climate disclosures under IFRS S2 and TCFD. 

Engaging Stakeholders 

We track and report on key engagement metrics to ensure transparency and responsiveness: 

• Number of stakeholder consultations per site 
• Community satisfaction scores 
• Grievance resolution rates and response times 

Driving Innovation 

MMG is investing in technology to enhance sustainability outcomes: 

• Remote sensing for environmental monitoring 
• AI-powered ESG data analytics 
• Blockchain-based traceability for responsible sourcing 

These innovations support data accuracy, stakeholder trust, and operational efficiency. 

Third-party Validation 

MMG is committed to transparency, accountability, and continuous improvement in our sustainability performance. To ensure the integrity of our disclosures and the effectiveness of our Sustainability Framework, we engage independent third parties to validate key elements of our environmental, social, and governance (ESG) reporting. 

In 2024, selected ESG data and processes were externally assured in accordance with the ICMM Assurance Procedure and the ISAE 3000 standard. This assurance covered: 

• Greenhouse gas emissions and energy use 
• Community investment and development outcomes 
• Grievance resolution processes 
• Human rights due diligence and risk assessments 

These assurance activities were conducted by qualified sustainability assurance providers and included site-level reviews, stakeholder interviews, and verification of supporting documentation. The outcomes of these reviews are published in our annual Sustainability Report and inform our continuous improvement efforts. 

MMG also benchmarks its performance against leading ESG rating frameworks, including WIND, S&P Global, and ICMM Performance Expectations, to ensure our practices remain aligned with global standards and stakeholder expectations. 

This independent validation reinforces our commitment to responsible mining and strengthens stakeholder confidence in our sustainability performance. 

In 2025, we will expand the scope of our external assurance to increase our transparency and provide additional certainty about our sustainability performance.