MMG Limited (MMG) (Stock Code 1208.HK) is pleased to release its Sustainability Report for the year ended 31 December 2014.
Highlights from the 2014 Sustainability Report include:
- A reduction in the total recordable injury frequency from 2.4 per million hours in 2013 to 2.3 in 2014.*
- Community investment of US$14.2 million benefiting the communities and countries in which we operate.*
- Progress achieved on workforce localisation programs at Sepon and Kinsevere.
- Planning and preparation for the responsible closure of Century continued, with significant investments in rehabilitation and employee training.
- With our joint venture partners, completed the most significant acquisition in our corporate history – the Las Bambas copper project in Apurimac, Peru.
- A risk-based approach to environmental management and alignment of performance to the Environment Standard.
- Record copper production with excellent financial discipline at all sites.
*Safety statistics and community investment exclude the Las Bambas Project.
Commentary from Chief Executive Officer Andrew Michelmore:
“At MMG, we believe that sustainability is more than securing a social licence – it is a development partnership earned through relationships, taking action and demonstrating responsible behaviours.
Our Vision, restated in 2014, is to be the world’s most respected diversified base metals company.
It is a vision underpinned by a set of renewed and shared values, and a commitment to the highest standards of sustainable performance in safety and health, environmental management, community development and governance.
With safety as our most important value, we continue to pursue a reduction in injuries to our employees, contractors and communities. While we improved our overall injury frequency metrics, people continued to be harmed at work.
These tragic incidents illustrate the diversity of risks we face and why we place such importance on our employees stopping, thinking and then acting to prevent injury. In 2015, health, safety and wellbeing remains the primary commitment we make to our people.
Business growth is at the heart of our contribution to stakeholders and in 2014, together with our joint venture partners Guoxin International Investment Co. Ltd and CITIC Metal Co. Ltd, we completed the most significant acquisition in our corporate history: the Las Bambas Project in Apurimac, Peru. When in production in 2016, this project is expected to be the third-largest copper mine in the world.
A major priority for us is working with communities of the Apurimac region to deliver the potential benefits of such a large-scale project. Given the importance of the project to the region and Peru, a separate Las Bambas sustainability report will be published shortly.
We also continued to work closely with communities at our existing operations.
At Century, we advanced preparations to responsibly close the mine in Queensland, Australia. Over more than 16 years, Century has been a significant economic engine for communities in the region and the closure presents unique challenges that we are working with stakeholders to meet.
In Laos, our child nutrition initiative with The United Nations Children’s Fund (UNICEF) and the Lao Ministry of Health entered its most important phase, distributing micronutrient supplements and providing healthy feeding education across three local provinces. In the Democratic Republic of Congo, our Kinsevere workplace localisation program and sustainable development program brought direct benefits to employees and communities around the mine.
During 2014, our approach to managing the environmental and legacy impact commitments of our assets throughout their life also further evolved. This aligns with our risk-based approach to environmental management.
In challenging economic conditions we also maintained our positive economic performance, enabling us to continue to transform our business and approach to sustainable development.
Our Belief – we mine for progress – guides our long-term approach to sustainability. I am proud that in 2014 we continued to provide a real and lasting contribution to our employees and the countries and communities in which we operate.
Our continued success would not be possible without the ongoing support of our Shareholders, in particular, China Minmetals Corporation.
I thank each member of our workforce, and our partners, for their contribution to our progress in sharing the wealth and benefits from our operations.”
For further details please download the full MMG Limited 2014 Sustainability Report.