We have constructive long-term relationships with all stakeholders.
This is key to delivering our purpose. Our engagement with stakeholders is open, transparent and collaborative, to support the long-term success of our business. We use appropriate mechanisms to interact with them, provide them with information and learn about their interests and concerns.
Approximately 31,000 employees and contractors work at our operations, projects, exploration programmes and corporate offices. They are almost all based in Chile.
Why we engage
Constructive relationships, anchored in mutual respect and transparency, are crucial for a good working environment and talent retention as well as for productivity and efficiency. Contractors are essential for operational continuity and, through our engagement, we seek to transfer knowledge and ensure compliance with our own standards, particularly on safety and health.
How we engage
We regularly engage with our workforce through a variety of channels including site visits by senior management, on-site reviews, surveys of the working environment and individual performance evaluations. We also offer technical training, provide career opportunities and foster a culture of knowledge. We meet regularly with union representatives and the managers of our contractors to discuss a range of topics, including environmental, social and governance.
We operate in Chile’s Antofagasta and Coquimbo Regions where our neighbours include a range of communities around our mines and transport business as well as on the coast near our port and desalination facilities.
Why we engage
The wellbeing of local communities is directly related to the sustainable development and success of our business. Through a bottom-up approach to engagement, we seek to grow together with these communities and contribute to their long-term social and economic development, while taking care to prevent, mitigate and compensate for any adverse impact our activities may have.
How we engage
We engage with communities through different social programmes, often implemented in alliance with local organisations. Initiatives are selected and designed jointly with the community, using working groups on specific areas of community development or concerns.
We work with on average over 1,700 suppliers, of which 91% are based in Chile. They provide a broad range of products and services, from large mining equipment to catering and transport.
Why we engage
Suppliers play a critical role in our ability to operate sustainably and safely. Through our engagement with them we seek to improve their sustainability performance and ensure they meet our sustainability standards and guidelines. We also work with suppliers to ensure that their solutions are cost-effective and efficient.
How we engage
The procurement team regularly meets with suppliers to discuss upcoming tenders, our sustainability requirements and other matters. Tenders take place through an online platform, designed to guarantee fairness and transparency. To ensure the broadest possible access to tenders, we use an automated invitation system and several different external platforms. By prioritising local suppliers, we seek to foster the development of neighbouring communities.
We sell principally to industrial customers, who further process our copper concentrate and cathodes.
Why we engage
Most sales are made under long-term framework agreements or annual contracts, with sales volumes agreed for the following year. Without these long-term customer relationships, we would have to sell a larger proportion of our cathodes and concentrate on the spot market through traders, with greater uncertainty about pricing and volume.
How we engage
We hold regular meetings with customers around the world. Some of our major customers are also equity holders in our mining operations. The Chairman and several Directors visit Japan each year to meet some of our partners and we have a marketing office in Shanghai.
Governments and regulators, at national, regional and local levels, draft, implement and uphold legislation, rules and regulations, setting the framework within which we operate.
Why we engage
Mining is a long-term business and timescales can run into decades. Political cycles are typically far shorter and material developments and changes to policy, legislation or regulations can have a major impact on our business.
How we engage
We work alongside mining associations and other industry-related bodies to engage with governments on public policy, laws, regulations and procedures that may affect our business. We interact with governments and regulators strictly within their engagement mechanisms. In Chile, these are clearly defined in Law N° 20.730 on lobbying.