Dear Stakeholder,
I am pleased to provide you with a copy of the 2010 Sustainability Report for our MMG operations. We are committed to transparency and communicating with our stakeholders, and we take sustainability seriously. This report represents an important part of that commitment.
The MMG operations are now a part of Minmetals Resources Limited, listed on the Hong Kong Stock Exchange and with a strategy to create an international diversified upstream base metals business. We are committed to achieving long-term sustainable growth and shareholder value.
Following a period of significant corporate change, our sustainability work in 2010 focused on integrating sustainability across the MMG operations and business activities so that they can grow in the same manner, and at the same pace.
Some of our highlights for 2010 included:
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- Reducing the lost time injury frequency rate (LTIFR) from 1.0 injuries per million hours worked in 2009 to 0.3 in 2010;
- Reducing the total recordable injury frequency rate (TRIFR) from 6.3 injuries per million hours worked in 2009 to 4.8 in 2010;
- Completing the acquisition of MMG from China Minmetals Non-ferrous Metals Company Limited on 31 December 2010, thereby providing continuing business opportunities;
- Investing US$50.9 million in exploration in Indonesia, Canada and Australia; and
- Initiating a study with peers in the mining industry on leading and lagging environment, community, health and safety performance indicators.
We also experienced a number of challenges during 2010 and will continue to manage these including:
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- Recruiting and retaining talented people in a competitive industry;
- Standardising processes for environment, community, health and safety that promote alignment between all operations;
- Managing environment, community, health and safety successfully across the business, including risk management, standards and corporate governance tools; and
- Introducing a Health and Hygiene Management Program to consistently identify and manage occupational exposures.
- Looking ahead, our strategic targets include zero harm at our sites and offices, achieving ISO 14001 certification at all sites and achieving top quartile performance against a sustainability index.
These results could not have been achieved without the efforts of our employees, many of whom you will see and hear from throughout this report. It is through their contribution and commitment that we will continue to improve our sustainability performance.
We encourage feedback in all areas of our work – if you have any comments on this report please contact Sarah Bell, Group Environment Manager at sarah.bell@mmg.com.
Kind regards,
Andrew Michelmore
Chief Executive Officer
Minmetals Resources Limited
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