NEWS

25.02.09
ICMM releases its 2008 Annual Review - Embracing Change

The review arrives at a time of unprecedented change. After a first half of the year marked by much optimism, September saw the global financial system stumble, access to capital shrink dramatically and commodity prices plummet. In a few short months, the operating environment for the sector in general and ICMM and its members more specifically, altered dramatically and unexpectedly.

October saw the appointment of a new ICMM President – Anthony Hodge as well as a new Chairman, Richard Adkerson (also President and Chief Executive Officer of Freeport-McMoRan Copper & Gold).

In spite of falling commodity prices, ICMM members reaffirmed their ongoing commitment to the sustainable development agenda. ICMM is using this time to refresh its vision, mandate and priorities, and streamline its operations.

Richard Adkerson said: “We are conducting a strategic review that will help us to develop priorities as we move forward in challenging economic times so that we continue to enhance sustainable development practices, communicate our successes and challenges to the broader industry, and ensure that our programs and priorities evolve to meet the needs of a changing industry.”

In embracing the task ahead, ICMM President Anthony Hodge said, “ICMM members have come to understand that on certain issues – including many of the environmental and social issues that are gathered under the banner of sustainability – it is collaboration and not competition that is needed. More than ever before, we need to pool our resources and strongly position the industry as part of the solution as we move through these tough times.”

We hope you find the report useful, and would value any comments you have on the report itself or any of our current activities. To request printed copies of the report, please e-mail us at info@icmm.com.

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