Our Strategy and Purpose

We are committed to our purpose of Developing Mining for a Better Future

Our Strategy and Purpose

We are committed to our purpose of Developing Mining for a Better Future

This is what drives and motivate us.

At its centre is our Purpose, Developing Mining for a Better Future, which is supported by our Strategy, Organisation and Culture through which we seek our Vision, "To be an international mining company based in Chile, focused on copper and its by-products, known for its operating efficiency, creation of sustainable value, high profitability and as a preferred partner in the global mining industry". Copper is essential to modern society and a greener future. It can play a vital role in addressing some of the world’s major challenges such as the availability of affordable and clean energy, air and noise pollution and sustainable urban development.

The metal is corrosion resistant, extremely malleable and an exceptional conductor of heat and electricity, making it a key input for efficient energy use and green technologies. For centuries, it has held a central role in humankind’s development due to its unique combination of properties.

Today copper is a key component of everyday life from mobile telephones to the roofs, heating and electric wiring in people’s homes. It is needed for power generation and transmission, motor vehicles, domestic appliances – such as air conditioning and televisions – and industrial machinery.


In turn, our Strategy has five pillars, People, Safety and Sustainability, Competitiveness, Growth and Innovation.

Our strategy is built around five pillars, each of which has defined long-term objectives with short- and medium-term goals. These pillars are:

People

People are the core of our business. We want our employees to feel recognised and to have the maximum opportunities for personal and professional growth.

We seek to generate a culture of diversity and inclusion in which our employees can achieve their full potential. We are committed to equality and believe that we can develop our business and make a significant contribution to Chile’s development.

We work to improve opportunities for individuals’ internal promotion fostered through initiatives such as technical and managerial training programmes. Our goal is to be the best employer in the mining industry.

To achieve this, we understand the importance of creating an environment of trust and collaboration that looks to the long term.

Safety and Sustainability

The safety and health of our employees is non-negotiable. We are committed to achieving zero fatalities at our operations and continuing to reduce the number and seriousness of accidents and occupational health issues.

We view sustainability as a source of value creation that is an integral part of our decision-making processes. This includes taking into account all socio-environmental factors throughout the different stages of the development through to the closure of a mining operation.

In line with this, we manage natural resources efficiently and are constantly seeking ways to reduce water consumption, find energy from cleaner sources and protect biodiversity, while always collaborating with local communities.

We are sensitive to the threats posed by climate change and are always seeking to improve our practices accordingly. Our aim is to maximise the utilisation of renewable energy sources and to reduce our greenhouse gas (GHG) emissions.

Competitiveness

Our key focus as regards competitiveness is to achieve productivity gains through cost control and streamlining our processes.

Our Operating Model seeks to reduce the variability of our production plans and includes an operating excellence area, a discipline that focuses on productivity issues. Our Cost and Competitiveness Programme (CCP) also produces significant savings.

Growth

We have a portfolio of growth projects that allows us to remain competitive and develop sustainable operations in the long term.

We continue to review our options for maximising returns and reducing the capital cost of projects, and are enhancing the capabilities of the project team to improve our project execution strategy, management and control.

Our focus is on the production of copper and by-products in the Americas (particularly Chile, Peru, the United States and Canada).

Innovation

We innovate as a means of improving social, environmental and economic conditions while, at the same time, delivering strong returns for our shareholders.

Innovation is key to improving productivity and efficiency and promoting growth. We are investing in innovation and developing opportunities, and encourage and reward employees and contractors who send us their ideas for improving our operations.

During the year we continued to implement our digital roadmap to facilitate and accelerate the adoption of information and analysis technologies, automation and robotics.

Our culture represents our shared values and the way we work. It is evident not only in our people but also in how we engage with local communities and our suppliers, partners and customers. We also understand the importance of diversity and inclusion as a driver of our competitive advantage.

The way we work and manage our risks is anchored in our shared values: Responsibility, Respect, Commitment to sustainability, Excellence in our daily performance, Forward-thinking and Innovation as a permanent practice, and the Board embraces its important role in setting the tone for the Group’s culture and promoting our shared values.

The way we manage our activities is paramount in reaching our goals. Our structure is designed to deliver results and growth while also having the flexibility to adjust to challenges and opportunities as they arise.

This is achieved by stabilising and strengthening our production processes, improving collaboration between key areas, defining clear roles and responsibilities and seeking to reduce variability and deviation from our production plans.