1. THE EXISTING CORE BUSINESS
The first pillar of the strategy is to optimise and enhance the existing core business: Los Pelambres, Centinela, Antucoya and Zaldívar.
2. ORGANIC AND SUSTAINABLE GROWTH OF THE CORE BUSINESS
The second pillar of the strategy is to achieve sustainable, organic growth by further developing the areas around the Group’s existing asset base in Chile.
3. GROWTH BEYOND THE CORE BUSINESS
The third pillar of the strategy is to seek growth beyond the Group’s existing operations, in Chile or internationally, through the acquisition of high-quality operating assets and/or high-potential early-stage developments.
We know how to produce copper and export it globally. We also know that large-scale mining has associated risks. However, from a business perspective, it is important to evaluate these risks and challenges, tackle them with innovative solutions and detect opportunities in a timely manner. We have learnt that mining, and the activities linked to its value chain, present us with a unique opportunity to generate positive, significant and lasting impacts for our different stakeholders and especially for the communities and regions where we operate.
At Antofagasta Minerals, we believe developing mining for a better future requires our operations to maintain operational excellence and also move towards more innovative, inclusive and sustainable mining practices that will allow us to contribute with creative solutions to the world’s new challenges. The latter must be done in association with others and contribute towards the social legitimacy of our activities in our area of influence for us to grow and develop over the long term.
Our Sustainability Policy is structured around five pillars: People, Financial Performance, Environmental Management, Social Development and Transparency, and Corporate Governance. These pillars frame our efforts to mine in a more innovative, sustainable and inclusive way. See for more information
At Antofagasta Minerals safety and health come first. We are constantly improving our environmental performance, contributing to the social development of the regions that host our operations, maintaining excellent corporate governance and ethical practices, and developing our sustainable value creation model.
Our sustainability priorities are based on our values, our business risks and opportunities, and our stakeholders’ key concerns and expectations, all of which are reviewed frequently by the Board and the Sustainability and Stakeholder Management Committee. See for more information
At Antofagasta Minerals, we understand that we must grow and develop with a long-term perspective. This involves finding innovative solutions for our challenges and also contributing to achieving global sustainability goals in the economic, environmental and social fields, which are reflected in the United Nation’s Sustainable Development Goals (SDGs).
Also known as Agenda 2030, the SDGs are 17 global objectives to end poverty, protect the planet and ensure prosperity for all and are part of a new sustainable development agenda. Multinational organisations, governments, companies and civil society have joined forces to work together to achieve these goals.
At Antofagasta Minerals, we are committed to Agenda 2030. In 2017 we conducted our first mapping of our contribution to the SDGs through Somos Choapa Programme initiatives and in 2018 we integrated this vision into the entire business. We began to evaluate Los Pelambres’ current performance and growth project against the SDGs to determine its contribution, critical areas and possible improvements within the operation’s sustainable development area.
In 2019 we will focus on developing a system to monitor the progress of Agenda 2030 in Choapa Province through systematic collaboration with relevant players in the region and the Columbia Center on Sustainable Investment (CCSI), part of Columbia University. See for more information
At Antofagasta Minerals, we seek to address new and diverse technical, operational and socio-environmental challenges through acquired learnings, innovation, collaborative alliances and the diversity and wealth of knowledge of our workforce. Among the most important challenges are:
PROVIDING A SAFE WORKPLACE is our main challenge, as many of our workers’ activities are considered hazardous and can have serious consequences. Antofagasta Minerals continues to strengthen the execution of its Safety and Occupational Health Strategy allowing it to efficiently manage safety and health risks, improve incident reporting and foster visible leadership at its operations. See for more information
ADAPTING TO CLIMATE CHANGE.
At Antofagasta Minerals, we have adopted a learningoriented approach to tackle this new scenario, in which one of the biggest challenges is water scarcity. With this in mind, we took the decision to build a sea water desalination plant as part of the Los Pelambres Expansion Project. See for more information
In addition, in 2018 Antofagasta Minerals set its first target to reduce forecast CO2 emissions over the period 2018 to 2022 by 300,000 tonnes, equivalent to 3% less than 2017. This goal will mainly be achieved through energy efficiency measures and incorporating nonconventional renewable energy into our processes.
See for more information
IMPLEMENTING A RESPECTFUL, DIVERSE AND INCLUSIVE WORK CULTURE.
Another challenge is to identify our activities’ impacts over people with whom we interact. In 2018 we began due diligence on Human Rights to provide a baseline on which to develop a framework and action plan on the matter. We also implemented the Diversity and Inclusion Strategy, first introduced in 2017, at all of our operations.
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RESISTANCE TO NEW PROJECTS AND GREATER SOCIETAL DEMANDS REGARDING THE REAL CONTRIBUTION OF MINING TO LOCAL DEVELOPMENT.
These are undoubtedly the challenges that have gained most prominence in recent years. For Antofagasta Minerals, collaborative, trackable, comprehensive and transparent dialogue with members of host communities has been critical in moving the relationship from one of competition to one of coexistence. This has allowed us to prepare together with local people long-term, shared development plans that have a positive impact for all parties. As part of this process, in 2018 we launched the Social Management Model which aims to standardise the way we engage with communities; monitor and ensure the timely and correct implementation of social commitments, projects and programmes, as well as measure their impact; and manage socio-territorial risks.
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These challenges are compounded by economic and operational challenges, such as the volatility of the copper market, uncertainty about the world economy and international trade, and the deterioration in the quality of mineral deposits owing to lower grades, harder rock or geological issues.
FORUMS AND ORGANISATIONS IN WHICH WE PARTICIPATE
At the international level, since 2014 we have been a member of the International Council on Mining and Metals (ICMM), an organisation that brings together the world’s largest mining companies and promotes sustainable mining, develops standards and encourages its members to adopt best practices. In addition, we participate in the International Copper Association (ICA), for which Antofagasta’s CEO Iván Arriagada was elected chairman of the Board in 2018, the International Molybdenum Association (IMOA), and the Civil Society and Mining & Metals Working Group of the World Economic Forum (WEF).
We also participate in discussions on future mining issues at the national level in Chile. We play an active role at the central, regional, provincial and municipal level in associations and forums with the aim of building a strategic agenda for Chilean mining through the creation of public-private partnerships. Examples of these are the Alianza Valor Minero (Mining Value Alliance) and Programa Nacional de Minería Alta Ley (National High-Grade Mining Programme).
- Antofagasta Region: Antofagasta Industrialists’ Association (AIA), Mejillones Industrialists’ Association (AIM), Mining Working Group, Gender and Integration of Women in Mining Working Group, Loa Province Development Corporation, Católica del Norte University, Antofagasta University, Gaviotín Chico Foundation, Sierra Gorda Good Neighbours Working Group, Pro Antofagasta Corporation and the Antofagasta Mining Cluster.
Coquimbo Region: Industrial Corporation for the Regional Development of Coquimbo, Productive Development Regional Agency, Minero Corminco Regional Council, Choapa River Monitoring Committee and irrigation and drinking water associations. We also work with La Serena University, Católica del Norte University and its Technical Training Centre (CEDUC), as well forming part of the Choapa Province’s education network.