SUSTAINABILITY Global Industry Standard on Tailings Management GISTM

Global Industry Standard on Tailings Management (GISTM)

As a member of the ICMM, Golden Mine Projects actively contributed to the development of the Standard, fully supports it, and is now committed to implementing it as part of its ICMM membership pledge.

The Standard represents the world's inaugural global benchmark for tailings management, applicable to both existing and future tailings storage facilities (TSFs). By encompassing social, environmental, local economic, and technical considerations, it elevates current mining industry practices. The Standard covers the complete lifecycle of a tailings facility – from initial project conception, planning, and design, through operations, continuous construction, to closure and post-closure phases.

Status of Implementing the Global Industry Standard on Tailings Management

Golden Mine Projects is dedicated to complying with the 77 requirements laid out in the Global Industry Standard on Tailings Management (GISTM), jointly developed by PRI, ICMM, and UNEP. ICMM has allowed for a three-year implementation period for Extreme and Very High consequence facilities (until August 2023) and an additional two years for other facilities (until August 2025). Additionally, all non-closed tailings storage facilities (TSFs) will adhere to the GISTM by August 2025.

In early 2021, Golden Mine Projects conducted site-specific gap analyses across its global operations to assess overall alignment with GISTM requirements and create a roadmap for compliance. Collaborative efforts with Engineers of Record (EoRs) have produced scopes of work to address identified gaps. Self-assessments will begin in Q3 2022 to measure current progress against the compliance roadmap.

Policy for Tailings Management

In November 2020, Golden Mine Projects formulated a comprehensive tailings management policy, which gained Board approval. This policy includes a firm commitment to implementing the GISTM and achieving the objective of zero harm to people and the environment.

Guideline for Tailings Management

Golden Mine Projects is currently in the process of transforming its Tailings Management Guideline into a Tailings Management Standard. The new Standard is slated to take effect in Q4 2022, referencing the 77 requirements outlined in the GISTM.


Governance

Golden Mine Projects has appointed Executives in each of its four regions to fulfill the role of Accountable Executive, as mandated by the GISTM. Additionally, Responsible Tailings Facility Engineers (RTFEs) were appointed at all operations throughout 2021.

Third-Party Review

The GISTM stipulates the presence of independent technical review boards (ITRBs) for TSFs classified as 'Extreme' or 'Very High' consequence, along with senior independent technical reviews for all other TSFs. Golden Mine Projects has established ITRBs at both its Cerro Corona and Tarkwa mines.

Risk Assessments

According to the GISTM, risk assessments are mandatory for all TSFs. Golden Mine Projects is developing a TSF Risk Assessment Guideline in alignment with GISTM requirements. Risk assessments for all active TSFs will be updated, refined, and completed in Q4 2022.

Conformance Protocols for the GISTM and Tailings Management Good Practice Guide

Golden Mine Projects is resolutely committed to implementing the GISTM across its facilities and welcomes the Conformance Protocols for the Standard as an essential tool to demonstrate compliance.

A collaborative effort within the company produced the ICMM's Tailings Management Good Practice Guide, offering comprehensive guidance on sound governance and engineering practices. This Guide will support ongoing enhancement of tailings management practices throughout the industry.