MMG Sustainability Report 2011

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MMG Limited is a mid-tier global resources company which explores, develops and mines base metal deposits around the world. We are headquartered in Melbourne, Australia and listed on the Hong Kong Stock Exchange (Stock Code: 1208).

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MMG Sustainability Report 2011

  1. 1. MINMETALS RESOURCES LIMITEDSUSTAINABLEGOALSRESPONSIBLEPROGRESS2011 SUSTAINABILITY REPORT FOR MMG OPERATIONS
  2. 2. In this, our second full annual sustainability report, we aim to present to our stakeholders,in a balanced way, the key issues of most relevance to them and our business, along withour successes and challenges in addressing those issues.CONTENTS About our reportMessage from the Chief Executive Officer 2 This report summarises our second full year of annual reporting on sustainability issues, our approach to managing these issues and ourMaterial sustainability issues 3 performance in addressing them. The 2011 Minmetals ResourcesAbout MMG 4 Limited Annual Report provides complementary financial statements and further detail on economic and operating information. OurThe mining cycle 6 previous Sustainability and Annual Reports can be found on our2011 Sustainability highlights and challenges 8 website: www.mmg.com.Sustainability performance – three-year goals 9 Material issuesOur approach 10 We have prepared this report based on our “material sustainabilityOur strategy for sustainability 10 issues” – the environmental, social (reflecting our people, health and safety priorities and stakeholders) and economic issues of mostAlignment with the ICMM 10 Sustainable importance to us and our stakeholders (see page 3).Development Principles 11Materiality determination 12 Scope Minerals and Metals Group (MMG) is the operating brand of MinmetalsManagement approach 12 Resources Limited (MMR). This report covers the MMG’s head officeBusiness ethics and governance 12 operations in Australia, and all MMG mining and associated activities, including Century (Queensland), Golden Grove (Western Australia),Feature case study: Rosebery and Avebury (Tasmania), Sepon (Laos) and worldwide miningMaking an impact on development and progress in Laos 16 exploration and development activity. The report does not include anyFeature case study: MMR operations, which were divested in 2011, or the assets of AnvilCentury mine and the gulf communities 18 Mining Limited (ASX, TSX:AVM), which were acquired in March 2012.Our people 20 Data This report discloses data relating to our material sustainability issuesOur approach 21 for the reporting period 1 January to 31 December 2011. InformationPerformance 21 relating to prior or subsequent periods has been included where2012 challenges 27 necessary for context on material issues. Consolidated data are reported through centralised databases, with additional data collected at aHealth and safety 28 site level.Our approach 29 The indicators reported reflect a combination of leading and lagging indicators, which are further discussed in “Our approach”.Performance 29 Global Reporting Initiative application level and International2012 challenges 35 Council on Mining Metals 10 Sustainable DevelopmentWorking with our stakeholders 36 Principles The report is prepared in accordance with the Global ReportingOur approach 37 Initiative (GRI) G3 Guidelines and Mining and Minerals SectorPerformance 40 Supplement to an A+ level. MMG maintains a watching brief on2012 challenges 51 the GRI G4 Guidelines and is represented on the International Council on Mining and Metals’ (ICMM’s) G4 Working Group.Respecting our environment 52 We will integrate the G4 criteria into our reporting process when they are published in 2014.Our approach 53 We are a full council member of the ICMM and are working hardPerformance 53 to align our approach, activities and performance across the2012 challenges 65 organisation to the ICMM 10 Sustainable Development Principles. Please refer to the ICMM 10 Sustainable Development PrinciplesSustaining our economic performance 66 Index and GRI Finder at the back of the report.Our approach 67Performance 67 Assurance Ernst Young conducted independent limited assurance over elements2012 challenges 72 of this report, guided by the ICMM Assurance Procedure (see page 79). This assurance process focused on five material issues selected byGlobal Reporting Index finder 73 MMG from the list of material issues identified through our materialityICMM 10 Sustainable Development Principles index 77 determination process (see Materiality determination) - these were: water, responsiveness to stakeholders, gender diversity, total recordableGRI check statement 78 injury frequency rate (TRIFR) and contractor safety.Independent assurance statement 79 The GRI reviewed our application of the GRI G3 GuidelinesGlossary and Key contacts 81 and confirmed our A+ application level.Cover: Students outside a school improved by the Sepon Trust FundRight: MMG employees at Century
  3. 3. Sustainability is what really matters to us.Our challenge is to deliver the benefits ofour operations to all our stakeholders –whether they are shareholders, employeesor the communities in which we operate. 1
  4. 4. Message from the Chief Executive Officer MMG is a unique business: an innovative combination of an international management team with the long-term outlook and financial support of a major Chinese shareholder.Dear Stakeholder Responding to stakeholder feedback we have commenced the reporting of annual trend data for many of our keyBefore commenting on our performance in 2011, it is with measures. We hope this will demonstrate greatermuch sadness that I advise you of the death of one of transparency and clarity on our performance. In addition,our contractors due to an accident that occurred at our and for the first time, we have published key performanceSepon operation in Laos on 28 February 2012, as we were indicators and three-year goals for each of our materialcompleting this report. Our thoughts and condolences are issue areas. This is a product of a new integrated businesswith our contractor’s family and friends. Any safety incident is planning process that has seen us align business plansone incident too many and on behalf of Minerals and Metals with the corporate vision right across MMG.Group (MMG), I underline this company’s commitment toensuring that we improve our safety performance. MMG is a unique business: an innovative combination of an international management team with the long-termAs global societal demands evolve, there is ever-increasing outlook and financial support of a major Chinesepressure on the minerals industry to keep pace. Our shareholder. We are listed on the Hong Kong Stockchallenge, and role as management, is to share the benefits Exchange as Minmetals Resources Limited (under thegenerated by our operations with all our stakeholders – 1208 stock code) and have our head office in Melbourne,shareholders, employees and the communities in which Australia. We have four operating mines: Century, Goldenwe operate – not just today, but well into the future. Grove and Rosebery in Australia, and one major copperIn this, our second annual sustainability report, we have operation called Sepon in Laos. In March 2012 weworked to focus on what really matters – those issues of completed the acquisition of Anvil Mining Limitedmost importance, interest and concern to our stakeholders (Anvil) and are now well progressed with the integrationalongside our most significant risks as a business. Through of those assets, based in the Democratic Republic ofstakeholder feedback interviews, a comprehensive Congo, into our business.business-wide risk assessment and analysis of our business This growth and business expansion aligns with our visionperformance, we have identified the material sustainability to build the next generation’s leading global diversifiedissues represented on the page opposite. base metals business, but also represents the challengesThese issues are broken down into five key sections – our we will face in the future as we expand into newpeople, health and safety, working with our stakeholders, jurisdictions.respecting our environment and economic sustainability. I would like to thank all the stakeholders and localWhile we give these areas equal attention, it must be said communities who work with us to make this business suchthat without our economic sustainability we would not be a success. I would particularly like to thank our employeesin a position to deliver on these other commitments. and contractors without whom these results would not beAs a member of the International Council on Mining and possible. We hope that this report demonstrates ourMetals, we benchmark our sustainability performance commitments to materiality, openness and responsiveness.against that of our council peers. We are applying the Kind regardscouncil’s Sustainable Development Framework, whichincludes integrating the 10 Sustainable DevelopmentPrinciples and seven supporting position statements intocorporate policy, as well as setting up transparent andaccountable reporting practices. This is a key part ofthat measurement and we are on a journey to align withthis benchmark. A significant three-year program ofwork commenced in the first quarter of 2012 to drivethis alignment, and I look forward to reporting on our Andrew Michelmore Chief Executive Officerprogress in future years. 9 May 20122
  5. 5. Material sustainability issuesp68 Minmetals Resources Limited’s p22 Workforce localisation p31 Safety and share price wellbeing of p24 Talent attractionp68 Volatility in commodity prices our people and retentionp68 Acquisition and project investment p33 Contractor p25 Gender diversity selectionp70 Realising the full value of assets p26 Training and p35 Aviation riskp70 Product shipping and logistics development managementp71 Customer economic sustainability p27 Workplace and p35 Public interaction corporate culturep71 Australian Government’s with operations clean energy legislationp71 Major disruptive event impactsp72 Management reporting and decision-making OUR PEOPLE C I NC NOM HE PERFOR ECO E ALT H MA SUSTAINING OUR WHAT SAFETY REALLY MATTERS RS U R DE H O OU SP RE E I T N V EC T W R G I R IN G IN OL ON RK KEH ME WO TA NT S p40 Post-closure community expectations p53 Water use and supply p41 Government relations p53 Wastewater and tailings p42 Human rights p56 Energy use and p44 Community and regional carbon emissions development p58 Biodiversity p48 Stakeholder relationships p65 Environmental management p48 Cultural heritage 3
  6. 6. ABOUT MMG The Minerals and Metals Group (MMG) of companies and their operations are owned by Minmetals Resources Limited (MMR), a mid-tier global resources company that mines, explores and develops base metal projects globally. MMR acquired MMG on 31 December 2010. Our majority shareholder, with 72% of shares, is China Minmetals Corporation through its subsidiary company China Minmetals Non-Ferrous Metals Company Limited. While MMR is listed on the Hong Kong Stock Exchange, MMG’s executive management team and head office are located in Melbourne, Australia. BELGIUM EUROPE ASIA SOUTH KOREA JAPAN CHINA HONG KONG LAOS VIENTIANE SEPON AFRICA THAILAND VIETNAM SOUTH-EAST ASIA JAKARTA MUTOSHI KINSEVERE LUSAKA CENTURY DUGALD RIVER TOWNSVILLE GOLDEN GROVE AUSTRALIA PERTH PORT PIRIE MELBOURNE TASMANIA AVEBURY ROSEBERY Kinsevere GOLDEN GROVE ROSEBERY 2012 acquisition of 2011 PRODUCTION 2011 PRODUCTION Anvil Mining Limited Zinc concentrate (t) 70,687 Zinc concentrate (t) 80,670 Copper concentrate (t) 21,661 Lead concentrate (t) 25,353 HPM concentrate (t) 7,482 Gold doré (oz) 12,163 REVENUE US$388.5M REVENUE US$272.5M EBIT US$53.3M EBIT US$86.8M4
  7. 7. OPERATIONS DEVELOPMENT PROJECTS SUSPENDED OPERATION ACTIVE EXPLORATION REGION CORPORATE OFFICES EXPLORATION OFFICES SALESMMG is one of the world’s largest producers of zinc and a substantial producer of copper, lead, gold andsilver. We operate in Australia and Laos, have development projects in Australia and Canada, and significantexploration projects and partnerships in Australia, Asia, Africa and North America. In February 2012 thecompany acquired Anvil Mining Limited with assets in the Democratic Republic of Congo in Africa. HIGH LAKE IZOK LAKE IZOK CORRIDOR LOCATION CANADA Nunavut, Canada TARGET METALS NORTH Copper, zinc, lead, silver VANCOUVER AMERICA DENVERSEPON2011 PRODUCTIONCopper cathode (t) 78,859Gold poured (oz) 74,484REVENUE US$816.9MEBIT US$471.3M SOUTHCENTURY AMERICA2011 PRODUCTIONZinc concentrate (t) 497,251Lead concentrate (t) 26,536REVENUE US$750.4MEBIT US$116.2MDUGALD RIVERLOCATIONQueensland, AustraliaTARGET METALSLead, zinc, silver 5
  8. 8. THE MINING CYCLE Mining is about more than operating mine sites where we extract ore, process and sell it. While that is a big part of what we do, it is just one of a number of stages that we need to manage in the mining cycle. 1 EXPLORATION 2 PROJECT DEVELOPMENT Exploration is a core growth driver for MMG Project development involves the study of exploration under a three-tiered strategy that involves mine results, mine design, environmental impacts and district exploration, new discovery programs economics to determine the feasibility of developing and project generation. Our mine district a mineral deposit into an operating mine. MMG has exploration program takes place around our two key development projects. In Australia, the suite of operations and development sites to Dugald River project is one of the world’s largest and find opportunities to extend mine life. Currently highest grade undeveloped lead-zinc-silver deposits. this program involves exploration activities The project’s Environmental Impact Statement (EIS) around Sepon, Century, Golden Grove, assessment and social impact report advised that the Rosebery, Avebury and our projects in Canada. project was suitable to proceed to the next stage of There are a number of new discovery programs the approval process. Approval of the full Environmental in Australia, Asia and the Americas that are Management Plan is expected around the middle of actively pursuing a pipeline of new venture 2012. In Canada, the Izok Corridor Project in Nunavut opportunities. comprises the Izok Lake and High Lake zinc and copper deposits currently under a feasibility study.6
  9. 9. Social licenCe to operate Our social licence to operate is essential in gaining and maintaining stakeholderapproval and regulatory permission. It is dependent on the responsible management of the environmental and socialimpacts of mining activities, from exploration through to post-closure rehabilitation and monitoring. We conductcommunity consultation and invest in community and regional development initiatives, local business development,education and training initiatives and sponsorships and donations for all sites, be they at exploration, developmentproject or operational stage. 3 OPERATIONS 4 ACTIVE CLOSURE 5 PASSIVE CLOSUREMMG has four operational mines, As a mine’s mineral reserves are After closure execution in the activeCentury, Golden Grove, Rosebery depleted care must be taken to closure phase, the site will moveand Sepon, and recently added plan for its closure. The active into a passive closure phase,the Kinsevere mine through its phase of closure, where areas involving monitoring and ongoingacquisition of Anvil Mining Limited. are prepared for final closure and maintenance, as well as activitiesEach of these mines extracts, possible relinquishment, includes such as long-term water treatmentcrushes and processes mineral rehabilitation, revegetation, and establishing agriculture. Followingdeposits to create a saleable product. decommissioning, decontamination, demolition, stakeholder engagement this a formal approval by the relevant investigations, plus other activity. regulating authority is sought This phase will commence a number indicating that the completion criteria of years prior to shutdown and for the mine have been met to the continue with its most intensive satisfaction of the authority and activities for a number of years other relevant stakeholders. immediately after production shutdown. With Century mine’s closure expected in 2016, planning is currently underway, to prepare for closure execution. 7
  10. 10. 2011 SUSTAINABILITY Highlights and challenges Highlights CHALLENGES» ublication of a detailed external and comparative P » astewater management issues at Century and Sepon W assessment of MMG’s contribution to development during and after high rainfall events. in Lao People’s Democratic Republic (PDR) over the » nvestigation and prosecution by the former Queensland I last decade, the ICMM’s Utilizing mining and mineral Department of Environment and Resource Management resources to foster the sustainable development of (DERM) into water management at Century following the Lao PDR (see page 16). the 2011 floods.» trong production results, base metal commodity S » ater security management, particularly at Golden Grove W prices and significant benefits realised from one-off where water is sourced from bores. divestments resulted in full-year Net Profit After Tax of US$540.9 million attributable to equity holders » otal recordable injury frequency rate of 4.1 did not meet T of MMR. the target of 3.5.» ngoing employment, community development O » ost time injury frequency rate increased from 0.4 in L support and sponsorship led to significant benefits 2010 to 0.6. (Note that 2010’s rate increased from for people of the Gulf region near Century mine. 0.3 to 0.4 after the 2010 reporting period due to an These included the employment of 30 Indigenous injury reclassification). recruits as part of the mine’s pre-employment program, » 04 Significant and high fatality-potential incidents up 1 A$2 million distributed to Indigenous groups for business 10% from 2010. projects, and more than A$450,000 financial and in-kind sponsorship of the local community flights » 5 employees recorded blood lead levels above the 1 program (see page 18). transfer level and nine employees recorded blood lead levels above the action level.» ovember approval of the Dugald River Project N Environmental Impact Statement, progression » mproving the Group Safety Health Environment and I to full Environmental Management Plan stage, Community (SHEC) Management System during a period and commencement of exploration declines of intense growth to enable consistent and focused (underground exploration ramps). management of our key SHEC risks at all exploration activities, project developments and mining operations.» hree-year business plans and programs of work T developed, engaging all parts of the business. » nalysis of current business alignment with the A ICMM 10 Sustainable Development Principles» CMM 10 Sustainable Development Principles I demonstrated significant gaps. alignment program integrated into business plan and work well under way. » taff gender diversity low with 17% female staff S across the business and less than 20% female staff» outh Hercules trial development project – zero safety S at operational sites. incidents, zero environmental incidents, high stakeholder engagement and innovative water » losure planning for Century requires rapid progression C treatment process. given expected mine closure in 2016. In 2012, we plan to articulate the mine closure strategy as part of the» ow staff turnover of only 8.5% compared to industry L 2012 business plan, including the Century Closure average of 17.7%. Management Program, a workforce retention plan,» 7% of all employees at Sepon from local communities, 8 a rehabilitation plan, and a communications and with further training and support initiatives in place. consultation plan which will involve the local community in preparations for positive post-closure outcomes.» osebery celebrated 75 years of continual operation. R » MR’s share price ended the year down 44%. MMR M» ver A$11 million invested in our host communities O underperformed against the index which ended the in a range of targeted social investment projects. year down 28%.» nvestment in local community education and training I » nderlying earnings before interest, taxes, depreciation U initiatives at all operational sites. and amortisation of US$887.8 million, after removal of» upport of safe water and electricity delivery to S one-off items, decreased 2.2% on 2010 due to higher communities around Sepon. expenditure on process and system standardisation.» ubstantial progress made in understanding and S » entury fined A$40,000 plus the DERM’s investigation C preserving intangible heritage, such as customs, beliefs costs of A$5,000 for causing material environmental and traditions, in the communities around Sepon. harm following the 2009 pipeline release of zinc concentrate slurry to the environment. Century also undertook to donate A$40,000 to a local community environmental management group.8
  11. 11. Sustainability performance – three-year goalsWith our material sustainability issues in mind, we have identified three-year sustainability goals and targets to 2014as part of our overarching corporate business planning process. As this is the first time we have integrated long-termgoals, we have also commenced reporting baseline data for progress tracking in future years.3-year Goals 3-year Targets baseline data FROM 2011Our PeopleDevelop workforce 90% close-out of actions from staff Development plans and training needs analysisplans building capability development plans. conducted on each site.and diversity. A capability matrix for all operational staff. Systems, Applications, and Products in Data Processing software SAP-based training and events management system implemented across all sites to capture capability matrix data for future measurement (except Sepon – not currently using the SAP system). 100% implementation of diversity actions Diversity strategy and actions under development. (See “Our People”).Cultivate leadership-inspired 5% increase on employee perception MMG engagement index was a 3.5 rating.teamwork, innovation survey engagement index rating.and discretionary effort. 90% close-out on previous year Employee perception survey conducted in 2011 and employee perception action plan. employee consultative forums established in 2012 at all sites to help develop and implement plans in 2012. Innovation rewarded through MMG Development of awards program planned for 2012. innovation awards.Embrace the ‘MMG Way’. Code of conduct breaches actioned Code of Conduct being improved for implementation to agreed plan. in 2012.Health and SafetyAchieve a step improvement 3.4 total recordable injury frequency 4.1 TRIFR.in health and safety rate (TRIFR).performance. No repeat significant incidents. No repeat significant incidents. 100% close-out of high fatality-potential 100% close-out of high fatality-potential incidents. incidents.Working with our StakeholdersEstablish social practices 100% close-out of top 3 social risk register Risks identified.consistent with the ICMM actions identified in the 2012 plan.10 Sustainable developmentPrinciples. 5% annual increase in MMG community 2011 Community Trust Index baseline: perception survey Community Trust Rosebery – 65.9%, Golden Grove – 50.8% Index (% level of local community trust). Century – 38.9%, Sepon – not undertaken in 2011. Social investment of 1% of net profit Social investment of 1.9% of net profit after after tax. tax achieved.Respecting our EnvironmentEstablish ICMM-consistent 100% close-out of top 3 environmental Risks identified include water management,environmental practices. and social risk register actions identified mine closure and minerals waste. in the 2012 plan. Zero ISO 14001 (international standard Golden Grove, Rosebery and Sepon recertified for environmental management) major ISO 14001 and Century achieved certification for non-conformances in 2012. the first time in December 2011. 20% reduction of environmental Baseline total of 8 non-compliances with operating non-compliances with operating licence licences. in 2012.Sustaining our Economic PerformanceDeliver consistent and Earnings per share increase year on year. Diluted earnings per share of US10.71 cents.sustainable earnings growth.Be recognised as an industry Total shareholder return comparative to The Index ended the year down 28%, MMR’s shareleader delivering strong the HSBC Global Base Metals Index. price ended the year down 44%. MMRfinancial outcomes. underperformed against the Index.Be valued for the unique Maintain a minimum 5% of the free 11% of free float held by institutional investors.combination of international float uptake by institutional investors.management and thesupport of China MinmetalsCorporation. 9
  12. 12. OUR APPROACHOur mission is to maximise returns by sustainably discovering, acquiring, developing and operating resource projectsaround the world. We do this while demonstrating our values of safety, integrity, action and results in all our activitiesand behaviours.Supported by robust industry fundamentals, underpinned by China’s growth, we hope to continue to achieve strongoperational and financial performance led by an international management team and a vigorous growth strategy.Our strategy for sustainability » evelop and implement sound enterprise-wide risk DCare for the interests of our stakeholders and the management processes;environment is of the utmost importance and is » emonstrate good stewardship of natural resources Dintegrated with the management of our business. by minimising our environmental footprint, reducingOur sustainability policy and objectives are supported waste, and using energy, water and other rawby our core values, which underpin the behaviour of materials efficiently;all employees and contractors. » nsure the safe handling and transport of our materials EOur sustainability objectives and products;We understand that the following objectives are criticalto achieving our vision of becoming a great global » ducate, train and equip our people to practise Eresources company. excellence in the management of health, safety, environmental and community priorities and» rotect the health, safety and wellbeing of our P opportunities; employees and contractors; » uild trusting relationships by engaging clearly, openly B» inimise impact on the environment; M and honestly with our host communities and other» nsure that the communities in which we operate E key stakeholders; receive real benefit from our activities; and » ncourage economic prosperity in our communities E» e known for our integrity. B during and subsequent to mining operations;Our sustainability policy » lan early for closure of our sites and ensure adequate PTo achieve our sustainability objectives we strive to: financial provisions have been agreed;» nsure that the principles of this policy are applied in E » nderstand, uphold and promote fundamental human U all business planning and decision-making processes; rights within our sphere of influence, respecting traditional rights and cultural heritage; and» ever compromise on health and safety; N » ssess the implementation of this policy through A» chieve continuous improvement in performance A regular audit and review. through use of robust management systems and effective governance and assurance processes; A sapling plantation at Sepon mine.10
  13. 13. Alignment with the ICMM 10 sustainable development PrinciplesAs members of the ICMM, we are committed to aligning priorities for the alignment program. Our goal is to achieveour practices to the organisation’s Sustainable Development alignment with the ICMM 10 Sustainable DevelopmentFramework. This includes integrating a set of ten principles Principles by the end of 2014. Alignment requires theand seven supporting position statements on sustainability incorporation of specific wording and references ininto corporate policies and benchmarking ourselves corporate policies and business management to thoseagainst them. policies. At the end of 2011, we analysed our alignment against the principles, as outlined in the table below.To this end, we are currently reviewing all of our policies With work programs now identified we expect toas a key work program for the next three years. This significantly increase our level of alignment followinghas so far involved an alignment analysis, identification implementation of several swift changes, such as theof areas for improvement, development of actions and updating of company policies in early 2012. The followingestablishment of priorities. table outlines the 10 Sustainable Development PrinciplesThe first step in this program was an executive workshop and our current alignment.to identify areas of responsibility, key gaps and keyICMM’s Sustainable Development Principles ALIGNMENT PROGRESS1. Implement and maintain ethical business practices and sound systems of corporate governance. (Position statement: Transparency of mineral revenues)2. ntegrate sustainable development considerations within the corporate decision-making process. I3. phold fundamental human rights and respect cultures, customs and values in dealings with employees U and others who are affected by our activities. (Position statement: Mining and Indigenous people issues)4. mplement risk management strategies based on valid data and sound science. (Position statements: Policy I on climate change, Mercury risk management)5. Seek continual improvement of our health and safety performance.6. Seek continual improvement of our environmental performance.7. ontribute to conservation of biodiversity and integrated approaches to land-use planning. C8. acilitate and encourage responsible product design, use, reuse, recycling and disposal of our products. F (Position statement: Mercury risk management)9. ontribute to the social, economic and institutional development of the communities in which we operate. C (Position statement: Mining-partnership for development)10. mplement effective and transparent engagement, communication and independently verified reporting I arrangements with our stakeholders.Our highest priorities for 2012 are to: » evelop and implement a greater understanding of D» uild greater awareness across the business of B management systems and the value that they bring the ICMM requirements; to our business; and» eview the Sustainability Policy and other policies R » ntegrate the ICMM’s 10 Sustainable Development I to reflect ICMM requirements; Principles into life-of-asset planning. 11
  14. 14. OUR APPROACH CONTINUED Materiality determination Minerals Council of Australia (Enduring Value), the Mining We have identified the material sustainability issues Association of Canada and Australian state-based (page 3) on which to focus our monitoring, measurement, organisations. management, continuous improvement and reporting We are committed to public reporting through meeting efforts. These material issues were identified by: our obligations under the Australian Government’s » Review of site and corporate risk registers; National Greenhouse and Energy Reporting Scheme (NGERS), » eview of the minutes of the Board SHEC R the Energy Efficiency Opportunities (EEO) Assessment committee meetings; Program and the National Pollutant Inventory (NPI). » eeking stakeholder feedback via one-on-one S Our commitments to sustainability are also reflected in interviews from a range of internal and external our Safety, Health, Environment and Community groups; Standards, which cover the management of material issues. We are currently reviewing these standards to » eview of the businesss three-year and one-year R ensure that they align with the ICMM’s 10 Sustainable business plans; Development Principles. » sing the GRI’s G3 reporting guidelines and Mining U We have met our objective to have all MMG operating and Metals Sector Supplement as best-practice sites ISO 14001 certified. In 2011, Century was certified, references; and with Sepon, Golden Grove and Rosebery all re-certified. » sing the ICMM’s Sustainable Development U Sustainable procurement Framework and 10 Principles as best-practice We are in the process of updating our standards for local and sector-specific references. procurement. The new standard will outline a process to Each section of this report focuses on these issues, how evaluate local capabilities and identify opportunities for they are managed and our performance in addressing local and Indigenous employment and procurement, at them, challenges for 2012 and case study examples of the site and within industry, from the earliest possible stage. site-specific activity. This focus on materiality allows us Each operation will be required to develop a strategic to prioritise improvement efforts and ensure that we are plan and appropriate programs to deliver on local meeting our stakeholders’ expectations on those issues. procurement commitments including capacity-building through supplier mentoring, training, tendering supportManagement approach and access to finance and micro-credit. ProcurementManagement of sustainability issues is integral to our procedures will include a transparent preselection processsuccess. One of the top-level strategic drivers of our that is accessible and appropriate to the needs ofbusiness plan is Reputation, which is given equal weight local vendors.as Growth, Operations and People. Under the Reputationdriver our goal is to be known as being socially and Business ethics and governanceenvironmentally responsible. Sound governance systems protect the interests ofFrom these drivers, our management team develops a set investors and ensure that we are a well-managedof 12-month corporate-level and operating-level goals. business. These governance systems guide our peopleWe internally report our performance against these goals on performance expectations and the ethical decision-on a quarterly basis. This trains our strategic focus on these making essential to the preservation of trust in ourissues and ensures that our work programs are integrated business and to uphold our value of integrity.and aligned. Our management approach is put into action Our Code of Conduct provides clear guidance for ourvia our Group Safety, Health, Environment and Community people in areas including conflicts of interest, compliance(SHEC) Strategy, recently updated in December 2011, with laws, and management of gifts, entertainmentand supporting SHEC plans and standards. and gratuities. The policy is currently under refinementCommitments and will be launched across our operations in 2012.Our commitments are influenced by a number of factors Anti-corruption and transparencyincluding external initiatives, regulatory requirements and Although there were no incidents of corruption identifiedinternal policies and procedures. We also benchmark our in 2011, we will be delivering a Code of Conduct trainingperformance against sustainability criteria provided by program to employees in 2012 that will specificallythe ICMM (Sustainable Development Framework), the incorporate anti-corruption guidance.12
  15. 15. Our refined policy will provide better standards for our Public policy initiativespeople on anti-corruption, bribery and facilitation payments. In 2011, we engaged indirectly, through our membership and participation in various industry groups, in several publicIn 2011, we became a supporter of the Extractive IndustriesTransparency Initiative (EITI) (www.eiti.org). The EITI policy initiatives related to our business. These included:aims to set a global standard for transparency in oil, » CMM’s Resource Endowment Initiative study, “Utilizing Igas and mining (the extractives sector). MMG supports mining and mineral resources to foster the sustainablethe principle that natural resource wealth should be development of the Lao PDR”;an important driver of a nation’s economic growth, » inerals Council of Australia (MCA) Sustainable Msustainable development and poverty reduction. We are Development Committee, which is currently chairedworking toward comprehensive disclosure of public by MMG Chief Executive Officer Andrew Michelmore;payments across our business and we are an activeparticipant in regional initiatives (e.g. the ICMM’s study of » CA’s advocacy on the Australian Government’s Mmining industry contributions to Laos, see page 16). proposed carbon legislation;MMG will participate fully in EITI processes in the countries » usiness Council of Australia’s Global Engagement Bin which we operate. Taskforce advocating policies that promote free trade.Details of our taxation and royalty payments made to the Mr Michelmore is currently a Taskforce member;Government of Laos are available in our Annual Report » ueensland Resources Council, Tasmanian Minerals Qand the Centre for International Economics Report on Council and West Australian Chamber of Energy andthe Economic Impact of the Sepon Mine 2010. Resources; andWe contribute financially to the EITI through membership » nternational Zinc Association, to which Mr Michelmore Iof the ICMM. was appointed Chairman in September 2011, and theirNo political donations were made in 2011. partnership with UNICEF’s Zinc Saves Kids health initiative. CASE STUDY: Century mine PROSECUTED for CAUSING environmental harm In our 2009 Sustainability Report, we detailed a breach donate A$40,000 to Southern Gulf Catchments Limited, that occurred in the Century mine concentrate pipeline a community-based organisation tasked with strategic that transports concentrate in slurry form from our and sustainable natural resource management, planning Century mine to the dewatering and port facility at and implementation in the southern Gulf of Carpentaria Karumba on the Gulf of Carpentaria. The breach region of North West Queensland. Century mine’s resulted in the discharge of approximately 750 cubic prompt response to the incident, the amount spent on metres of zinc and water slurry at a pastoral station remediation, the cooperative approach and the early along the pipeline’s route. plea of guilty were some of the factors the Magistrate considered relevant in determining the sentence. MMG spent almost A$10 million on the incident response and remediation works following the pipeline breach We continue to work with the pastoralists impacted by and subsequent release. Remediation activities included the event to consider how the initial response could the removal of soil affected by the zinc concentrate slurry have been better managed and improve the way and rehabilitation at the site. Following the incident, pastoralists and others are notified and engaged about Century expanded its inspection and monitoring works along the pipeline. We are also undertaking program to include the use of a new condition grading works on a right of way and other works to monitoring technique to provide further certainty. address soil erosion at points along the pipeline corridor. In late 2010 following an investigation, the former In addition to the inspection and monitoring program, Queensland Department of Environment and Resource Century conducts maintenance along the pipeline during Management (DERM) brought charges against MMG the dry season. Work will be conducted at various points Century Limited (Century) in the Mount Isa Magistrates along the pipeline during 2012 as part of Century’s Court, as a result of the incident. In March 2012, broader infrastructure maintenance program, and to Century pleaded guilty to one charge of unlawfully ensure the concentrate pipeline is operated safely and causing material environmental harm. In April it was reliably until the end of production. This program will fined A$40,000 and ordered to pay the DERM’s include comprehensive updates to existing operating investigation costs of A$5,000. No conviction was and contingency plans to incorporate newly-available recorded. In addition, MMG Century undertook to best-practice standards. 13
  16. 16. OUR APPROACH CONTINUEDGovernance In 2011, MMG reviewed the concentrate managementWe are committed to maintaining a high standard standard that applies to all operations with the goal ofof corporate governance practices through a quality protecting human health, the environment and businessBoard of directors, internal controls, transparency and continuity. As a result of this review, a new standardaccountability to all shareholders. Our Board-level was drafted for release during 2012, which aims toAudit, Remuneration, SHEC and Disclosure Committees align systems for product stewardship and ensure thatoversee their respective areas. appropriate resources are in place at managed facilities to monitor and respond effectively to existing andOur major shareholder, China Minmetals Corporation, emerging international trends and changing expectations.is a major Chinese metals and minerals company.Therefore, to maintain fair and ethical market transactions, Risk managementall sales and agreements between MMG and China The effective management of risk is central to theMinmetals entities are conducted on an “arm’s-length” continued growth, efficient management and ultimatebasis, under the Hong Kong Stock Exchange’s (HKSE) success of MMG’s business.Connected Party Transactions laws. Further information Our risk management process is based on the internationalcan be found in the Corporate Governance statement standard for risk management, ISO 3100:2009, andof our Minmetals Resources Limited Annual Report. involves achieving an appropriate balance betweenCentury mine was subject to one incidence of legal realising opportunities for gains while minimising adverseaction with regard to its environmental management impacts. It is an integral part of our management practicein 2011 as detailed in the case study below. and corporate governance. The process is iterative,Internal audit consisting of steps that, when undertaken in sequence,Our internal audit function provides an independent, enable continuous improvement in both decision-makingobjective assurance and consulting activity designed and performance. These steps include establishing theto add value and improve the organisation’s operations. context, identifying, analysing and evaluating the risksIt focuses on a broad range of evaluation and and developing a risk response. Throughout the riskimprovement activities, namely risk management, management process there is continuous communicationcontrol and governance processes. and consultation with stakeholders and monitoring and review for any changes in risks, controls and responseAn annual Internal Audit Plan is developed in conjunction plans. In 2011, our risk register was updated andwith MMG’s senior management and approved by the management accountability and response plans assigned.Audit Committee. Protiviti, our outsourced provider ofinternal audit services, undertakes our auditing under Working with a state-owned enterprisethe guidance of MMG’s General Manager Enterprise Our ultimate controlling shareholder is China MinmetalsRisk. On a six-monthly basis, the Audit Committee Corporation (71.56%). Public shareholders (28.44%)reviews the outcomes of audits completed in the preceding include global resources and investment funds. Chinasix months. Minmetals Corporation is a Chinese state-owned enterprise.Product stewardship In order to ensure clear governance processes and protectMMG’s product stewardship approach focuses on the the rights of minority and independent shareholders, MMRmanagement of our metal concentrates. Zinc, copper adheres to the listing rules of the HKSE. These include:and lead concentrate is stored at, handled by and » nsuring an appropriate balance between the number Etransported in bulk from MMG sites to international of majority shareholders appointed directors to Boardcustomers via concentrate storage facilities, front-end positions and independent Non-executive Directors.loaders, road trucking, rail transport, slurry pipelines, In 2011, the company welcomed two new Non-executiveconveyors, filters and dryers, ship-loaders, barges and Directors to the MMR Board, Dr Peter Cassidy andbulk ship-carriers. Plant, equipment and operations vary Mr Anthony Larkin;from site to site depending on the level of technology, » The rules relating to connected party transactions; andage and condition. There are also varying levels of dustsuppression and/or control systems in operation. » The requirements for disclosure of material information.14
  17. 17. CASE STUDY: Overcoming product stewardship challenges in Western Australia In 2011, Golden Grove managed significant product Environmental and health-related activities included stewardship challenges associated with concentrate a marine assessment, concentrate toxicity testing, shipments following the recording of exceedences rainwater tank testing, dust modelling and transport in 2010 in the ambient air lead limit during loading corridor testing. The findings from these tests supported of its high precious metal (HPM) concentrate at the a revision of the lead dust emission limit to a three- Port of Geraldton. The resolution of these issues month rolling average measure. resulted in improved environmental and health The local community and other stakeholders were protection measures, while cost-effective shipping engaged through a doorknock of 703 residences in of our product was resumed. the Geraldton Port area, letter drops to residents and a In 2009, lead export-related events at ports throughout media relations campaign. We also continued to work Western Australia, led to a tightening of lead emission with the Department of Transport, Department of Health limits under the Geraldton Port Authority (GPA) licence. and the Department of Environment and Conservation. A tighter lead dust emission limit of 0.5 micrograms per In September 2011, the Geraldton Port Authority’s cubic metre as total suspended particulates (a 24-hour licensed lead dust emission limit was amended to ambient air quality measure) was put in place at the 0.5 micrograms per cubic metre (a three-month rolling Geraldton Port. average) for total suspended particulates. In October Following this change, the limit was exceeded during 2011, Minister for Transport Troy Buswell lifted the the loading of Golden Grove’s HPM concentrate. suspension, allowing HPM exports from Geraldton Subsequently we voluntarily suspended any future Port to resume on a ship-by-ship basis. shipping of HPM through the Geraldton Port until such This was a significant decision for Golden Grove. time as we were satisfied that future shipments could Concentrate management and product stewardship be undertaken without exceedence. The voluntary continue to be a matter of focus and vigilance. suspension decision was later confirmed by a Ministerial ban on all HPM shipments. Golden Grove’s desire to continue to load and ship its HPM concentrate through the Geraldton Port in a safe manner, both from an environmental and community health perspective, saw the implementation in 2010 and 2011 of a number of initiatives including community and stakeholder engagement, health and safety examination, engineering assessment, technical investigation and increased monitoring. This resulted in infrastructure upgrades and engineering improvements being made, including adjusting conveyor belt speeds and load rates, reviewing ship loading chute design and operation, foam dust suppression trialling, and a review of alternative loading technologies. Procedural and administrative controls relating to the loading of concentrate were further developed to take into account wind speed and direction, product sequencing and tonnages, and facilitating better communication between the parties directly involved Golden Grove concentrates are loaded onto in the ship-loading process. a ship and exported via the port of Geraldton. 15
  18. 18. FEATURE CASE STUDY: Making an impact on development and progress in Laos A highlight of 2011 was the publication in The report quantified significant direct and flow-down” February of a detailed external and comparative benefits, at both national and local levels, from the assessment of MMG’s contribution to development mining operations. These were facilitated by successful in the Lao People’s Democratic Republic (PDR) over parallel national and regional government programs and the last decade. governance measures that have encouraged both foreign direct investment and regional development progress, Following on from previous case studies in countries while also controlling the macroeconomic challenges such as Tanzania, Chile and Ghana, the ICMM applied associated with a surge in gross domestic product over its “Mining: Partnerships for Development Toolkit” to the past decade. assess the impact of mining in the Lao PDR. The result was Utilizing mining and mineral resources to foster the In particular, this has resulted in avoidance of the “resource sustainable development of the Lao PDR, the first-ever curse”, where, in many resource-rich countries without national economic and social assessment of large-scale such adequate processes to temper investment activity mining’s contributions and impact. effects, local communities experience negative or negligible impacts from resource exploitation, while any wealth The study was undertaken as part of the ICMM’s Resource benefits are concentrated at and confined to a restricted Endowment and Mining Partnerships for Development national level. initiative, which supports member companies (such as MMG) to actively foster multi-stakeholder partnerships Mining has proven a significant contributor to the country’s for development in the countries in which they operate. economy. Together with PanAust Ltd’s operation, Sepon accounts for over 90% of total national mining production. The research drew on a comprehensive range of data Nearly 1% of the national population is employed by and studies from both national and independent external the mines. sources, including considering retrospective information on the variety of current mining activity. The assessment determined that the mining industry represents 80% of foreign direct investment, 45% of Primarily it focused on the contributions of the two total exports, 12% of government revenues and 10% largest mines in the country: MMG’s Lane Xang Minerals of national income. Limited (LXML) Sepon mine, the first major commercial private-sector operation established in Laos in 2002, This contribution, through a direct revenue share dividend and PanAust Ltd’s PBM Phu Kham gold and copper mine, (10%), taxation, export earnings, and secondary services which commenced production in 2008. The depth and and salary tax contributions, has allowed the government quality of social and economic data provided by both to reduce foreign debt and build surpluses, consequently MMG and PanAust Ltd were highlighted by the authors facilitating regional and local development investment as reflective of commitments to sustainability. and support. THE CONTRIBUTION OF MINING TO THE LAO PDR FOREIGN DIRECT INVESTMENT (FDI) FOREIGN DIRECT INVESTMENT (FDI)Since 2003, large-scale mining has accounted for 80% of FDI Since 2003, large-scale mining has accounted for 80% of FDI EXPORTS EXPORTS In 2008, 45% of total exports were from In 2008, 45% of total exports were from large-scale mining large-scale mining GOVERNMENT REVENUE GOVERNMENT REVENUE In 2009, mineral taxes contributed 12% In 2009, mineral taxes contributed 12% of total government revenues of total government revenues NATIONAL INCOME NATIONAL INCOME Large-scale mining is expected Large-scale mining is expected to contribute around 10% p.a. to contribute around 10% p.a. to GDP over next 15 years to GDP over next 15 years EMPLOYMENT EMPLOYMENT Jobs related to Jobs related to large-scale mines large-scale mines provide 5% of non- provide 5% of non- agricultural agricultural activities activities On average, local family incomes near Sepon mine have risen significantly as a result of mining employment. 16
  19. 19. At a regional level, the report highlighted the followingSepon contributions for their long-lasting and positiveimpact on both Sepon employees and local stakeholders:» n just nine years of operation average incomes at I Sepon have increased seven-fold. The result of these increases in wealth is evidenced by changes in food security, improved housing and an increase in the number of motorbikes, mobile phones, refrigerators, water pumps and cars purchased. The number of private bank accounts has also increased;» n 2010, Sepon employed 2,300 Lao people through I direct employment, 1,600 indirectly and 9,750 people externally by means of mine services demand. Personnel are predominantly local citizens;» n 2010, Sepon allocated a budgeted training I expenditure for employees of US$6,403,825; Producing MMG safety uniforms.» n 2010, Sepon contributed US$412,044 to its Social I Development Trust Fund; and employment if economic conditions degrade, as was the case during 2008–09’s global financial crisis.» n 2007, Sepon was responsible for providing a total I income of US$391,000 to Lao suppliers through The report authors highlight that further government procurement initiatives. This rose to US$2,217,394 reform, economic control measures and community in 2011. investment partnerships will support the mines’ ongoing sustainability contributions. These are fundamentallyThe report credits both MMG and PanAust Ltd. with driven through MMG’s operational planning and itsdedicated local community employment, investment vision and commitment to being an industry leader inand development programs which have had, and are corporate, environmental and social responsibility.continuing to have, a measurable effect on increasesin living standards, through local enterprise evolution When launching the report MMG Chief Executive Officerand viability, water, sanitation and communications Andrew Michelmore said “The analysis is a very hearteninginfrastructure, education and health improvements, validation of a decade of significant efforts to deliverand fundamental self-sufficiency gains. tangible community and national benefits”.There is, however, attention drawn in the report to “We must leave an area better off than when we arrivedsome important challenges. The land disturbance and – that is the challenge for all mining companies,” he said.environmental impact of mining is not insubstantial The full draft of the ICMM’s report, Utilizing mining andon local populations. Higher education attendance has mineral resources to foster the sustainable developmentalso dropped in some areas as an opportunity cost of of the Lao PDR, was presented in February 2011 at apreferential local employment at the mines. The report workshop in Vientiane attended by 150 representativesalso found that increased land use by the mines is not from national and provincial governments as well as theoffset by increases in jobs, and that the community National Assembly. The report can be read and downloadedremains vulnerable to cut-backs in indirect mine at the ICMM and MMG websites.MININGS contribution to the current account OF THE Lao PDR Total exports (constant $m) Total imports of good and services ($m) Total debt servicing ($m) Total dividends paid abroad ($m) Impact on current account balance ($m) 1,500 1,200 900 600 300 0 -300 -600 2024 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 17
  20. 20. FEATURE CASE STUDY: Century mine and the Gulf Communities MMG’s Century mine operates under the Gulf Communities Agreement, a unique tripartite commitment between the mine, Queensland Government and four Traditional Owner groups – the Waanyi, Mingginda, Gkuthaarn and Kukatj which are all signatories. Known locally as the GCA, the agreement guides the » he Riversleigh Open Day showcasing the successes T relationship between the signatories and provides each of young Indigenous people undertaking pastoral with certain obligations and benefits. Highlights of the studies as part of Lawn Hill Riversleigh Pastoral Holding GCA are its focus on providing meaningful training, Company’s (LHRPHC) trainee program. Lawn Hill and employment and business opportunities for local Riversleigh Stations were acquired as part of the mine Indigenous people, compensation for eligible bodies development, with the Waanyi people now holding a and cultural and environmental assurances. 51% share of LHRPHC and Century the remaining 49%; To assist Century to meet its obligations under the GCA, » entury continuing its partnership with the Queensland C the mine has an on-site community relations team to Reds. Queensland Reds players visited Doomadgee and manage its Indigenous employment and community Mornington Island regularly during 2011 to encourage engagement programs. To maintain close links with local children to attend school, and promote healthy, active communities the mine also has offices in Doomadgee, lifestyles; Mornington Island and Normanton. » entury providing additional funding to train some of C In 2011, a number of programs led to significant benefits its experienced Indigenous employees to deliver the for local and local Indigenous people and the Gulf region. Putting Indigenous Youth in the Picture program to These included: its trainees and apprentices. The program educates young people about the legal consequences of social » ore than 30 Indigenous employees gaining formal M issues such as texting and social networking, alcohol qualifications in heavy vehicle operations as part of a use, violence and vehicle accidents; mine-funded up-skilling program; » entury providing financial and in-kind assistance C » ore than 30 young Indigenous people identifying as M through its sponsorship and community flights program from local Traditional Owner groups graduating from to the value of more than A$450,000; Century’s renowned pre-employment program. These recruits took the total number of Indigenous apprentices » redging of the Karumba Port undertaken for the D and trainees at Century to more than 75; port’s shipping operations also benefited the local cattle export and other industries; » entury contributing more than A$2 million to be C distributed to local communities in accordance with the » ocal Indigenous employees Leontay Hookey, Aaron L GCA. Of this, about A$1 million was provided to the Jacob and Troy Kumsing being recognised for excellence Aboriginal Development Benefits Trust (ADBT) to support at the National Aborigines and Islanders Day Observance the development of local Indigenous businesses. ABDT Committee (NAIDOC) 2 Deadly Awards in Mount Isa; has 11 directors representing Traditional Owner groups, Gulf communities and Century; The Minister and Betty Kiernan MP at Century.18
  21. 21. » entury hosting the Queensland Minister for Employment C Following is the speech delivered by Century Corporate Skills and Mining Stirling Hinchliffe and Member for Social Responsibility Officer Corrie Richardson at a Mount Isa Betty Kiernan MP in September. The Minister dinner to celebrate the launch of China Minmetals and Mrs Kiernan met with participants in the mine’s Corporation’s 2010 sustainability report: third intake for the pre-employment program for 2011 as well as some of Century’s longest-serving employees; “I am Corrie Richardson,» ormer Community and Stakeholder Relations F an Indigenous woman Manager Greg Scanlan was a keynote speaker at from the township of the Queensland Government’s “Earn Learn Live!” Normanton in Queensland’s Indigenous Employment Conference in October, Gulf of Carpentaria. I am the only resources industry representative asked to descendant from the Kukatj participate; and people, who are one of the Traditional Owner groups» entury continued its involvement in the North West C party to the Gulf Queensland Indigenous Resource Industry Initiative Communities Agreement, (NWQIRII), a joint initiative between the Queensland the Native Title Agreement and Australian Governments and Queensland under which MMG’s Resources Councils. Corrie Richardson Century mine operates.While the potential to discover additional discrete-style During my 13 years working at Century, I have seenmineralisation near our Century mine is effectively more than 300 local Indigenous people start or continueexhausted, we continue to examine a number of near-mine their careers at the mine.initiatives for identification of additional feed (ore) for theprocessing plant from smaller vein-style occurrences nearby. I have seen the opportunities that working at CenturyThe viability of using Century infrastructure to exploit the have given these people. The skills they gained havephosphate deposits that occur on our tenements will be allowed them to improve their lifestyle, find work infurther studied this year. their own communities, or even gain employment at other operations.However, the Century ore body is very discrete and wecurrently expect to cease mining and processing operations I’ve also seen some of our trainees and apprenticesof the current deposit in 2016. Century has been an important recognised for excellence within the industry. Thesecontributor to the economic and social fabric of the Gulf for are opportunities that they would not have hadover 15 years and we recognise the difficulties that closure without the mine.represents for the local community. We have commenced As we move towards the end of mine, we are movingdetailed mine closure assessment and planning as we aim our focus towards helping develop businesses that canto leave a positive and lasting legacy once operations cease. prosper long after the mine closes. I am proud to workMore information on the Century closure planning is at Century and to be part of MMG.”available in the case study on page 41. Century trainees participate in the Putting Youth in the Picture program. 19
  22. 22. OUR PEOPLE We aspire to form a partnership with each person in the organisation. This engages them to contribute towards achieving our vision and values, as well as developing personally. Employees at MMGs Golden Grove operation.20

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