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Anglo Gold Ashanti North America Inc - AngloGold Ashanti Joins Industry Peers in Providing Disclosure on Tailings Storage Facilities -- 7/6/2019.

(PRESS RELEASE)--In April 2019, a group of 96 investors, represented by the Church of England Pensions Board and the Swedish Council on Ethics and backed by the United Nationssupported Principles for Responsible Investment, wrote to a large number of publicly-traded mining companies requesting disclosure on the management of their tailings storage facilities (TSFs).

This request followed a call by institutional investors for an independent tailings classification and monitoring system, made at an investor roundtable on mining and tailings safety held in London on 4th March 2019. These engagements were prompted by the tragic collapse of the Brumadinho tailings storage facility in Brazil, in January 2019, and the failure of the Samarco TSF, also in Brazil, in November 2015.

AngloGold Ashanti Limited (AngloGold Ashanti), which is a member of the International Council on Metal and Mining, was among the scores of companies contacted in this regard and has published the requested information on its website: https://www.anglogoldashanti.com/sustainability/reports/.

Overview

As at today, 7 June 2019, AngloGold Ashanti has 34 TSFs across its global portfolio, of which 60% are active, 20% are being remined and 20% are inactive facilities. This portfolio of TSFs includes 59% upstream, 29% downstream and 3% centerline and 9% in-pit facilities. AngloGold Ashanti's TSFs are designed and built to a rigorous set of standards and carefully managed and monitored through a four-layered assurance system by a team of internal specialists and independent external experts. Ensuring that these TSFs are responsibly maintained as crucial to maintaining our license to operate.

AngloGold Ashanti has a detailed framework that sets principles, standards and guidelines for the construction, management and oversight of its TSFs. The aim is to protect and maintain human health and safety, the environment, and to enable efficient and responsible production. The framework, overseen by experienced TSF engineers, focuses on the sound management of all phases of the TSF lifecycle, recognizes that each TSF is unique and that there is no single design or operating technique that can be adopted universally. Therefore, the specific, detailed elements of each TSF would be covered in regional codes of practice and site-specific operations manuals.

AngloGold Ashanti maintains a TSF review and oversight system. At the operational level, a TSF superintendent manages the day-to-day operation of the TSF. The plant or process manager is responsible for the first layer of governance, namely implementing the detailed requirements of the TSF operations manual.

Regional Tailings Engineers, the TSF specialists who report to the Chief Operating Officer, conduct quarterly inspections of active TSFs, thereby providing a second layer of governance to ensure safe management of our TSFs. These specialists provide ongoing technical guidance to the responsible teams at each operation and monitor the implementation of these recommended actions.

Corporate management of the TSFs is a third layer of governance and assurance. This entails formal TSF audits once or twice a year by a Corporate Tailings Engineer, a TSF specialist that reports to the Executive Vice President: Group Planning and Technical. This person is the custodian of AngloGold Ashanti's Tailings Management Framework and also conducts TSF reviews for projects and M&A related due diligence.

Finally, the fourth layer of governance is provided by an Independent External Review on a one- to five-year cycle. The frequency of the reviews depends on the legal requirements for each jurisdiction and the specific risk profile of each TSF. Geotechnical engineers with specific experience in tailings management are chosen to conduct these inspections.

AngloGold Ashanti's Board of Directors and Management team believe that this management and governance approach provides an effective way to manage the risks associated with TSFs. The recent tailings disasters have not necessitated a change to AngloGold Ashanti's approach to the tailings management for operating TSFs, but an adjustment to the review system for dormant TSFs is being considered. It is important to note that the legal requirements for TSF inspections are country specific. Furthermore, each TSF has an emergency action plan. These plans are reviewed annually for active TSFs.

https://thevault.exchange/?get_group_doc=143/1559925466-AngloGoldAshantiJoinslndustryPeersinProvidingDisclosureonTailingsStorageFacilities.pdf
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Title Annotation:Media Releases
Publication:US Mining
Date:Jun 11, 2019
Words:675
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