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Mine closure and life of asset planning

MMG is committed to responsible mine closure planning that minimises environmental legacy impacts and supports long-term social and economic resilience.  

Closure planning is integrated into the full life cycle of our operations, beginning at project development and evolving through operations to final decommissioning and community transition. Our closure plans are developed in accordance with our SSHE Performance Standard and Social Performance Standard, and include: 

  • Technical assessments of landform stability, water quality, and biodiversity 
  • Stakeholder engagement with communities, regulators, and Indigenous groups 
  • Financial provisioning for closure and rehabilitation 

In 2024, MMG maintained closure plans for all operational sites, with Feasibility Level Closure Plans targeted for completion at least two years prior to final production. 

Environmental Rehabilitation and Monitoring 

MMG applies the mitigation hierarchy and progressive rehabilitation to minimise environmental impacts. In 2024: 

  • Over 1,200 hectares of land were rehabilitated across operations 
  • Drainage, erosion, and dust control measures were implemented at disturbed sites 
  • Revegetation programs used native species and traditional land management practices 

Closure plans are aligned with ICMM GISTM and include post-closure monitoring of landform stability, water quality, and biodiversity outcomes. 

Social Transition and Economic Legacy 

MMG recognises that mine closure has significant social and economic implications. Our closure planning includes: 

  • Workforce transition strategies to support employment and retraining 
  • Community development programs that promote economic diversification 
  • Post-mining land use planning co-designed with host communities 

In 2024, MMG conducted stakeholder workshops at Las Bambas and Kinsevere to identify post-closure opportunities in agriculture, tourism, and infrastructure reuse. We also continue work at our Rosebery operation to support our programs relating to community resilience and transition, despite the recent news about the extension of the life of the asset through promising drilling results. These initiatives are aligned with the ICMM Socio-Economic Reporting Framework and SDG 8 (Decent Work and Economic Growth). 

Climate and Nature Integration 

Across MMG, our closure planning is informed by climate risk assessments and nature-related disclosures aligned with TCFD and TNFD. We assess: 

  • Physical climate risks such as flooding and drought 
  • Nature-related dependencies and impacts on ecosystems and biodiversity 
  • Carbon sequestration potential of rehabilitated land 

These assessments are integrated into our enterprise risk management (ERM) framework and disclosed in our Sustainability Report. 

Governance and Assurance 

Closure planning is overseen by the Executive Committee and reviewed by the Governance, Remuneration, Nomination and Sustainability (GRNS) Committee. Selected closure-related data is externally assured under ISAE 3000 and the ICMM Assurance Procedure. 

Our approach is embedded in our Sustainability Framework and aligned with global standards including GRI, ICMM Performance Expectations, HKEX ESG Code, and IFRS S1/S2.  

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