HKEx: 1208
ASX: MMG
Headquarters:
Australia
Sector:
Diversified
Government Ownership:
Majority State Ownership (China)
Pre-tax Revenues (in BUSD):
2.489 (31/12/2016)
Number of employees:
5,210 (31/12/2016)
Number of workers
(employees + contract workers):
not reported
Company-reported mining worker fatalities:
  • 2015 |
    Workers: 1
  • 2016 |
    Employees: 0Contractors: 2
Home countries, where the company is headquartered
Producing countries, where the company has mining operations
Mine sites selected for mine-site-level assessment

Summary Results

MMG’s strongest performances relate to Business Conduct and Working Conditions. In Business Conduct, MMG’s performance stems largely from its attention to business ethics and the transparency of mineral revenues. The company has made a formal commitment to an integrated, cross-departmental approach to business ethics, and shows that it has assigned senior management responsibilities and accountabilities for the implementation of this commitment. MMG has also demonstrated its commitment to engage in multi-stakeholder forums to improve the transparency of disclosure on mineral revenues. In Working Conditions, MMG shows evidence of a formal commitment to address occupational health and safety, as well as systematic tracking and reviewing of its performance and efforts to improve its performance on this issue.

However, MMG’s overall results are limited by a relative lack of evidence on Lifecycle Management and Community Wellbeing. For example, no evidence was found of the company having systems for applying socio-economic and environmental criteria during investment decision-making or for integrating environmental and social issues into its decision-making on mergers and acquisitions. Likewise, in Community Wellbeing, there was a lack of evidence of the company having a systematic approach to addressing human rights. No evidence was found of the company having made a formal commitment to respect human rights, nor of it publicly reporting on its management of human rights issues, despite some evidence of human rights due diligence assessments having been carried out.

Economic Development

0.185 / 1.000

Business Conduct

0.387 / 1.000

Lifecycle Management

0.184 / 1.000

Community Wellbeing

0.166 / 1.000

Working Conditions

0.416 / 1.000

Environmental Responsibility

0.220 / 1.000

The maximum value of 1.000 represents the aggregation of best scores achieved for all indicators in a given thematic area, taking into account all companies’ results. As the aggregate best score varies from one area to another, these charts cannot be used to compare company performances across different areas.

All company results are based on public domain data that have been sourced by RMI analysts or provided by companies. In the case of a few companies, very little information was available. It is important to note that a low score may only reflect a lack of relevant information in the company’s publicly available documentation.

Relative company performance

Commitment (11 indicators)

Action (41 indicators)

Effectiveness (21 indicators)

1.000 = aggregation of best scores for all indicators of this measurement area.

Indicator-by-indicator results

Economic Development

Selected Mine sites results

Mine sites individually assessed but not included
in the overall company score

Mine Site NameLocal Procurement (score /6.00)Local Employment (score /6.00)Community grievance mechanism (score /6.00)Workers grievance mechanism (score /6.00)Water quality and quantity (score /6.00)Biodiversity management (score /6.00)Mine site (score /6.00)
Kinsevere3200000.83
Las Bambas5530143.00
Sepon3200000.83

List of all mine sites

Mine Site NameAliasesCountryCompany's share (%)ProductsMining types
KinsevereDRC100CopperOpen-pit
Las BambasPeru62.5CopperOpen-pit
RoseberyAustralia100Zinc, Copper, Lead, GoldUnderground
SeponLao PDR90CopperOpen-pit

Main Shareholders

As of: 31/03/2018Shares (%)
China Minmetals Non-Ferrous Metals Co., Ltd.72.6
The Vanguard Group, Inc. 0.63
Dimensional Fund Advisors, L.P.0.49
BlackRock Asset Management North Asia Limited0.48
Candriam Belgium S.A.0.38
Harvest Global Investments Limited0.31
Matthews International Capital Management, L.L.C.0.29
BlackRock Institutional Trust Company, N.A.0.28
Norges Bank Investment Management (NBIM)0.2
BNY Mellon Asset Management North America Corporation0.2
JPMorgan Asset Management (Japan) Limited0.18
HSBC Global Asset Management (Hong Kong) Limited0.18
First Trust Advisors L.P.0.18
J.P. Morgan Asset Management (Hong Kong) Ltd.0.15
China Southern Asset Management Co. Ltd.0.12

Known Subsidiaries

As of: 31/12/2016Country
Album Investment Pte Ltd Singapore
Album Resources Pte Ltd Singapore
Allegiance Mining Pty Ltd Australia
Anvil Mining LimitedBritish Virgin Islands
Lane Xang Minerals Limited Lao PDR
Minera Las Bambas S.A. Peru
MMG Australia LimitedAustralia
MMG Century Limited Australia
MMG Dugald River Pty Ltd Australia
MMG Exploration Holdings LimitedHong Kong
MMG Exploration Pty LtdAustralia
MMG Finance Limited Hong Kong
MMG Golden Grove Pty LtdAustralia
MMG Kinsevere SARLDRC
MMG Management Pty Ltd Australia

Known Tax Jurisdictions

AustraliaBritish Virgin IslandsCanadaDRCHong KongLao PDR
NetherlandsPeruSingaporeSwitzerland

Recent involvements in Investor/State investment disputes (since 2014)

No case

Disclaimer

The findings, conclusions and interpretations within this 2018 Responsible Mining Index (RMI) report do not necessarily represent the views of funders, trustees, and employees of the Responsible Mining Foundation, and others who participated in consultations and as advisors to the report.

This report is intended to be for information purposes only and is not intended as promotional material in any respect. The report is not intended to provide accounting, legal, tax or investment advice or recommendations, neither is it intended as an offer or solicitation for the purchase or sale of any financial instrument. In order to fully understand the methodology of the 2018 Responsible Mining Index, the respective sections on the website should be consulted.

The RMI seeks evidence of companies’ policies and practices on economic, environmental, social and governance (EESG) issues, but does not seek to measure the actual outcomes achieved on EESG issues. Results are based only on evidence sourced from the public domain or provided by companies as open data. Whilst this information is believed to be reliable, no guarantee can be given that it is accurate or complete, nor does it preclude the possibility that policies and practices may exist, but which the RMI has not been able to consider for purposes of assessment. In this respect, the results of the low-scoring companies do not necessarily reflect a lack of relevant policies and practices; as they may be due to a lack of public reporting by the companies, limitations in accessing information, and/or any difficulties in accessing the RMI company portal.

It should be noted that, prior to publication, all companies in the Index were invited to check the factual accuracy of the contextual data and evidence upon which the Index is based and to review company information in the RMI document library.

Although every effort has been made to verify the accuracy of translations, the English language version should be taken as the definitive version. The RMI reserves the right to publish corrigenda on its web page, and readers of the 2018 RMI report should consult the web page for corrections or clarifications https://www.responsibleminingindex.org.