Newcrest is working closely with peer companies, industry associations, governments and communities to support and implement the Global Industry Standard on Tailings Management (GISTM) Standard.
The GISTM is dedicated to leading tailings management and committed to making significant steps towards safer and more responsible tailings facility management.
Together with the ICMM, Principles for Responsible Investment (PRI) and the UN Environment Programme, the GISTM was first developed in response to the tailings failure of the Dam at Córrego do Feijão near Brumadinho, Brazil in January 2019.
Newcrest’s role in the GISTM development ensures our Tailings and Water Storage Standard is aligned and the new Tailings Management System is fully compliant, superseding the Tailings Management Framework.
Newcrest publishes its tailings facility details in the Global Tailings Portal database allowing investors and stakeholders to review tailing facilities, the impact of climate change and the extreme weather events on dam stability.
As a responsible mining company and member of the ICMM, Newcrest Mining is committed to implementing GISTM.
The GISTM strives to achieve an ambitious zero harm to people and the environment by requiring operators to prioritise the safety of tailing facilities throughout all phases of the facility’s lifecycle.
The GISTM was launched on 5 August 2020 following a Global Tailings Review – an independent review process co-convened in March 2019 by the United Nations Environment Programme (UNEP), Principles for Responsible Investment (PRI) and the ICMM in response to the tailings failure of Dam I at Córrego do Feijão near Brumadinho, Brazil in January 2019. It aims to prevent catastrophic failure of tailings facilities by providing operators with specified measures and approaches for safe tailings facility management.
Newcrest is determined to play its part in making tailings facilities safer, and is working closely with peer companies, industry associations, governments and communities to support and implement industrywide improvements to tailings facility management.
Newcrest’s implementation of the GISTM will follow a phased approach. As part of our commitment, any tailings facilities operated by Newcrest with potential consequences assessed as being “extreme” or “very high” will conform with the Standard GISTM by 5 August, 2023. All other tailings facilities operated by Newcrest, excluding those in a state of safe closure, will conform with the Standard GISTM by 5 August 2025. We are also in the process of updating internal management and governance systems that include standards and guidelines to align with the GISTM.
Newcrest has welcomed the release of the GISTM as a significant step towards strengthening current practices in the mining industry to support safer and more responsible tailings facility management. We are proud to be part of the Standards development and our focus has been on implementing the Standard through our ICMM membership commitment.
For further information on the GISTM, visit the Global Tailings Review.