DAVOS, SWITZERLAND - The 16 leading mining and metals companies comprising the International Council on Mining and Metals (ICMM) have agreed to report on their sustainable development performance using the GRI Sustainability Reporting Framework, including the recently developed Mining and Metals Sector Supplement. The target date for achieving this is within two reporting cycles. By using the GRI Framework, ICMM members will fulfil their commitment to measure performance against the ICMM sustainable development principles.

The Global Reporting Initiative (GRI) and ICMM convened a multi-stakeholder working group to develop a Mining and Metals Sector Supplement to the GRI Guidelines. The Supplement aims to provide a practical way to measure corporate performance against key sustainable development criteria specific to mining and metals operations.

Paul Mitchell, ICMM Secretary General, said:

"This is a significant step forward for the industry. It will enhance transparency in reporting of companies' operations and their social, environmental and economic impacts. And, it will allow systematic comparisons to be made between the performance of leading companies in the sector. As such, I expect that this initiative will be welcomed by investors, regulators and other groups interested in the performance of the mining and metals sector. It is a true demonstration of social responsibility and business leadership by the companies concerned."

Ernst Ligteringen, GRI Chief Executive, said:

"ICMM members have backed up their long term commitment to sustainability by aiming for an unprecedented level of transparency. Companies in other sectors are bound to take notice. I am gratified that leading companies in the mining and metals sector found value in the open, multi-stakeholder approach to creating this supplement, and are now demonstrating this in their commitment to apply this tool in their reporting practices and systems."

ICMM members' commitment is based on the GRI's 2002 Sustainability Reporting Guidelines and the pilot version of the Mining and Metals Sector Supplement, which is due to be released in early 2005. The GRI has commenced a process to review and update the Guidelines, in which ICMM members are participating. The third generation of GRI Guidelines (G3) will be released in 2006.

Notes to Editors:

The Global Reporting Initiative (GRI) is a multi-stakeholder process and independent institution whose mission is to develop and disseminate globally applicable Sustainability Reporting Guidelines. These Guidelines are for voluntary use by organisations for reporting on the economic, environmental, and social dimensions of their activities, products, and services. The GRI incorporates the active participation of representatives from business, accountancy, investment, environmental, human rights, research and labour organisations from around the world. Started in 1997, GRI became independent in 2002, and is an official collaborating centre of the United Nations Environment Programme (UNEP). See www.globalreporting.org/G3 to find out more about the Guidelines innovation process now underway.

The International Council on Mining and Metals is a CEO-led organisation dedicated to sustainable development. ICMM comprises many of the world's leading mining and metals companies as well as regional, national and commodity associations, all of which are committed to improving their sustainable development performance and to the responsible production of the mineral and metal resources society needs. ICMM's vision is a viable mining, minerals and metals industry that is widely recognised as essential for modern living and a key contributor to sustainable development.

ICMM's 16 corporate members are:
Alcoa, Anglo American, AngloGold Ashanti, BHP Billiton, Freeport-McMoRan, Lonmin, Mitsubishi Materials, Newmont, Nippon Mining & Metals, Noranda, Placer Dome, Rio Tinto, Sumitomo Metal Mining, Umicore, WMC Resources, Zinifex.

ICMM's 27 association members are:
Chamber of Mines of South Africa, Consejo Minero, Eurometaux, Euromines, Federation of Indian Mineral Industries, Indonesian Mining Association, Industrial Minerals Association-Europe, Instituto Brasileiro de Mineraçao, International Aluminium Institute, International Copper Association, International Lead Zinc Research Organization, International Wrought Copper Council, International Zinc Association, Japan Mining Industry Association, Minerals Council of Australia, Mining Association of Canada, Mining Industries Associations of Southern Africa, Nickel Institute, Prospectors and Developers Association of Canada,
Sociedad Nacional de Minería y Petróleo, Sociedad Nacional de Minería, SveMin, The Cobalt Development Institute, World Coal Institute.

GRI-ICMM Multi-stakeholder Working Group
The Working Group drew together 20 members from industry, finance, labour and social and environmental NGOs, who over the course of 12 months and 4 meetings developed the Mining and Metals Sector Supplement to accompany the GRI 2002 Guidelines. A list of members is available on www.icmm.com/sd_reporting.

About the Mining and Metals Sector Supplement
The Supplement was made available in draft form for public comment in English and Spanish for a period of 11 weeks from June to August 2004, during which 39 comments were received from representatives from industry, labour, academics, and NGOs from North and South America, Europe, Australia and South Africa. The comments are available for interested parties. Following the Working Group's fourth meeting in September 2004 and approval from the ICMM Council, it was made available for use while it awaits governing body approval from GRI.

About companies that report in accordance with the GRI Guidelines
As of 20 January 2005 there were 625 organisations worldwide that had produced one or more sustainability reports based on the GRI Sustainability Reporting Guidelines. Of these, just under 10% (total 51) of these reports were identified as being "in accordance" with the GRI Guidelines, meaning they met five criteria including responding to each core indicator and featuring a statement signed by the CEO. To search GRI's database of reports see www.globalreporting.org/guidelines/reports/search.asp for more on "in accordance" requirements see: www.globalreporting.org/guidelines/reports/InAccordance.asp

International Council on Mining and Metals (ICMM)

International Council on Mining and Metals (ICMM)

ICMM is a CEO-led industry group that addresses key priorities and emerging issues within the sector. It seeks to play a leading role by promoting good practice and improved performance internationally and across different commodities.

ICMM provides a platform for industry and other key stakeholders to share challenges and develop solutions based on sound science and the principles of sustainable development. Its vision is for a respected mining and metals industry that is widely recognized as essential for society and as a key contributor to sustainable development.

ICMM's mission is two-fold - to distinguish its members as industry leaders and to make a contribution to raising standards across the industry as a whole.

To be an ICMM member, a company must build trust and respect with key stakeholders as a result of good performance in sustainable development, including clear and comprehensive approaches to reporting and assurance.

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