Our ambition 

At BHP, our purpose is to bring people and resources together to build a better world. One way we do this is by focusing on the safety and integrity of all TSFs across our operated and closed assets to protect people, the environment and communities where we operate. 

Our approach and position 

Following the tragic TSF failures at Fundão dam at Samarco in 2015 (a non-operated joint venture (NOJV) owned 50 per cent by BHP) and Brumadinho dam at Vale’s iron ore operation in Brazil in 2019, we continue to evolve our approach to TSF management, with a focus on the governance and conformance with industry standards, and the delivery of a continuous reduction in TSF failure risk.

Our short-term strategy focuses on improvement of key risk indicator performance, including studies to reduce and mitigate potential downstream impacts, particularly to those who could be at risk in the event of a TSF failure. Our medium-  and long-term strategies focus on complex risk reduction projects and the identification and use of improved tailings management and storage solutions. Where there is a requirement to increase the current tailings storage capacity or construct a new TSF, we investigate cost-effective tailings management solutions, including non-conventional tailings solutions, as part of our efforts to reduce potential risks (aligned to our risk appetite) and increase social value. We are committed to achieving alignment with tailings industry standards,  including the Global Industry Standard on Tailings Management (GISTM) and Towards Sustainable Mining (TSM).

Global Industry Standard on Tailings Management 

We welcome the global commitment to raise the industry standard in relation to TSF stewardship throughout the lifecycle of TSFs. We support and have contributed to the development of the GISTM, which was established as an international standard for safer tailings management through a process co-convened with the International Council on Mining and Metals (ICMM), United Nations Environmental Programme and the Principles of Responsible Investing. 

We will align to the GISTM across BHP operated active and closed TSFs throughout their lifecycle from design to post-closure. We have met the ICMM’s GISTM implementation timeframe of August 2023 for extreme and very high consequence classification operated TSFs (referred to subsequently as prioritised TSFs) based on BHP’s assessment of the requirements for GISTM conformance, which utilises the ICMM Conformance Protocols for GISTM. For more information refer to our GISTM public disclosure document. We are working towards an August 2025 timeframe for all remaining operated TSFs. We are also committed to continue to work with the industry and community, regulatory and financial stakeholders to promote the application of consistent disclosure standards. We see this collaboration as an important step toward better tailings stewardship, including independent auditing of industry conformance with the GISTM. 

In addition, while BHP’s NOJVs are independently controlled and have their own operating and management standards, we advocate for the adoption of the GISTM by the NOJVs. Where appropriate, we can provide them with support in relation to TSF management (within the limits of the relevant joint venture agreements). 

Progress in FY2024

In FY2024, we continued works aimed at reducing our TSF failure risk, for example:  

• The construction of buttresses were completed at Olympic Dam’s TSF5 and BMA’s Peak Downs Old Tailings Dam TSF. 
• The construction of a buttress continued at legacy asset’s Solitude TSF. 
• We declared conformance with the GISTM and released the public disclosure document for our extreme and very high consequence classification operated TSFs. 
• We continued to progress alignment with the GISTM for the remaining TSFs at our operated and closed assets.  

For more information on our TSF portfolio refer to Operated and non-operated tailings portfolio in the Other section below. Governance and oversight, engagement, disclosure and performance  

Risk 

We operate to a single Risk Framework for all risks, including TSF failure risks at our assets. We use key risk indicators, set by senior management, to help monitor performance against BHP’s risk appetite. Our Risk Framework requires the pursuit of risk reduction actions to eliminate or reduce exposure to TSF failure risks until they are within BHP’s risk appetite.  

Our approach to TSF risk management is detailed in Tailings storage facilities risk management.

For more information on our Risk Framework, which we operate to for all risks (including TSF  risk), refer to our BHP Annual Report 2024, Operating and Financial Review 8 – How we manage risk. 

Case studies