(Justmeans.com / CSR News) - The International Council on Mining and Metals (ICMM) has released its 2008 Annual Review - Embracing Change.

It 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 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, "The culture of the mining and metals industry is one of competition. However, 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."

In 2008 ICMM released an upgraded procedure that sets out how member companies can formally assure both performance against ICMM's 10 principles, as well as their GRI reporting requirements. It also published a Mine ClosureToolkit, a Good Practice Guidance on HIV/AIDS, Tuberculosis and Malaria, and issued a position statement on mining and indigenous peoples. Work has also progressed on chemicals management, and a preliminary report from a study on minerals taxation regimes was published.

A full copy of the annual review is available on our website (www.icmm.com/annualreview) or can be obtained from Fernanda Diez.

Contact:

Fernanda Diez

Tel: +44 (0) 20 7467 5099

Email: fernanda.diez@icmm.com

Web: www.icmm.com

Notes to Editors:

The International Council on Mining and Metals (ICMM) is a CEO-led organization representing many of the world's leading mining and metals companies as well as regional, national and commodity associations. An important part of its mandate is dedicated to sustainable development. ICMM members 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 recognized as essential for modern living and a key contributor to sustainable development.

ICMM's 17 corporate members are:

Anglo American, AngloGold Ashanti, Barrick, BHP Billiton, Freeport-McMoRan Copper & Gold, Gold Fields, Lihir Gold Limited, Lonmin, Mitsubishi Materials, Newmont, Nippon Mining & Metals, OZ Minerals, Rio Tinto, Sumitomo Metal Mining, Teck, Vale, Xstrata.

ICMM's 30 association members are:

Cámara Argentina de Empresarios Mineros, Cámara Asomineros Andi (Colombia), Cámara Minera de México, CAMIVEN (Cámara Minera de Venezuela), Chamber of Mines of South Africa, China International  Mining Group, Cobalt Development Institute, Consejo Minero de Chile A.G., Eurometaux, Euromines, Federation of Indian Mineral Industries, Indonesian Mining Association, Instituto Brasileiro de Mineraçao, International Aluminium Institute, International Copper Association, International Molybdenum Association, International Wrought Copper Council, International Zinc Association, Japan Mining Industry Association, Lead Development Association International, Minerals Council of Australia, Mining Association of Canada, Mining Industry Associations of Southern Africa, National Mining Association USA (NMA), Nickel Institute, Prospectors and Developers Association of Canada, Sociedad Nacional de Minería (Chile), Sociedad Nacional de Minería Petróleo y Energía (Peru), World Coal Institute, World Gold Council.