Tailings dams are important facilities for the management and storage of tailings, and if a catastrophic failure occurs, the surrounding environment and local communities could suffer severe impacts. Our Group recognizes that ensuring the safety of tailings dams is an extremely important issue for local communities, even at overseas mines that we do not directly operate. In cooperation with stakeholders, including joint venture partners and local communities, we are working to prevent disasters such as tailings dam failures by implementing appropriate design, management, and review processes.

At overseas mines in which we invest, we work with joint venture partners to comply with the Global Industry Standard on Tailings Management (GISTM), an international safety standard, in the management of tailings dams.

GISTM compliance was achieved in 2023 for El Mauro tailings dam, and work in 2024 included a third-party evaluation for the facility. At Quillayes tailings dam, a smaller-scale tailings facility, the self-assessment process for GISTM compliance is underway and is expected to be completed in 2025.

At Escondida Mine, the world’s largest copper-producing mine, efforts to reduce water use through conservation and reuse have been complemented by an investment of approximately $4 billion in the construction of what is one of the world’s largest seawater desalination plants. As a result, since late 2019, the mine has eliminated all groundwater use, with 100% of the water required for operations supplied by desalinated seawater.

Actions are being taken to achieve GISTM compliance for the tailings dam by 2026.

Through these initiatives, our company aims to ensure the safety of tailings dams and minimize risks to local communities and the environment.