What's Happening?
The International Council on Mining and Metals (ICMM) has published a Tailings Progress Report indicating that full alignment with the Global Industry Standard on Tailings Management (GISTM) is taking longer than expected. As of the report, 67% of ICMM member
facilities are in full conformance, while 33% remain partially conformant. The report highlights the progress made since the GISTM's publication in 2020, with a commitment from ICMM members to conform by August 2023 for facilities with extreme or very high consequence classifications, and by August 2025 for all other applicable facilities. Despite delays, over 80% of facilities with extreme or very high consequence ratings are now fully conformant. The report underscores the unprecedented system-level changes driven by the GISTM, reshaping tailings management practices across the industry.
Why It's Important?
The delay in achieving full GISTM conformance is significant for the mining industry, as effective tailings management is crucial for environmental safety and community protection. The industry's commitment to high standards reflects a broader push towards sustainable practices, which can influence public perception and regulatory policies. Companies that achieve full conformance may benefit from enhanced reputations and reduced risk of environmental incidents, potentially leading to better relationships with stakeholders and communities. Conversely, those lagging may face increased scrutiny and pressure from regulators and civil society groups, impacting their operational and financial stability.
What's Next?
ICMM members are expected to continue working towards full GISTM conformance, with ongoing collaboration between industry stakeholders, financiers, governments, and local communities. The focus will likely remain on facilities with high consequence ratings, with efforts to share knowledge and best practices across the sector. Future reports may provide updates on progress and highlight areas needing improvement. Stakeholders will be watching closely to ensure commitments are met, potentially influencing future regulatory frameworks and industry standards.
