In 2020, the Global Tailings Review, made up of the International Council on Mining and Metals , United Nations Environment Programme  and Principles for Responsible Investment, published the new Global Industry Standard on Tailings Management . Glencore participated in the development of the GISTM through its membership of the ICMM.

On 5 August 2020, all ICMM members, including Glencore, committed to implementing the GISTM. In line with the ICMM timetable, today we report on the conformance to GISTM for our tailing storage facilities (TSFs) with ‘Very High’ or ‘Extreme’ Consequence Classifications.

We have taken a rigorous and technically robust approach to applying the GISTM, which goes beyond self-assessments and includes independent third-party assurance. We welcome the greater transparency it has brought around the management of these important facilities.

We are pleased with the progress we have made over the last three years. This includes the development of a Tailings Manager Academy, entering into a global agreement for Satellite (InSAR) monitoring, undertaking major engineering works at a number of TSFs, the development of action plans to address identified gaps, establishing detailed roadmaps to conformance and independent assessments by Klohn Crippen Berger (KCB), an engineering, geosciences, and environmental consulting firm with widely recognised expertise in assessing the integrity and safety of TSFs. Third party assurance has also included an independent assessment by Acorn International, an Environment, Social, Governance assurance consulting firm on the social and human rights aspects of the GISTM.

Based on our ongoing TSF management systems and independent third-party assessments we have in place for our TSFs with ‘Very High’ and ‘Extreme” Consequence Classifications we believe that any gaps in conformance are identified and managed appropriately.