Successful relationships with stakeholders are essential to the long-term success of the Group, which has a network of arrangements in place to ensure that the views and interests of stakeholders are represented.

The Group has a workforce of approximately 21,500 people (employees and contractor workers) at its operations, projects, exploration programmes and corporate offices. Most of the workforce is based in Chile and 54% comes from communities where the Group’s operations are located. Contractors account for approximately 70% of the workforce across the Group’s operations.

WHY WE ENGAGE

Constructive relationships built on mutual respect and transparency help the Group to retain employees and avoid labour disputes, contributing to greater productivity and business efficiency.

Contractors are essential to mining operations. Operational continuity requires all contractors to adhere to the same standards expected of Antofagasta’s own employees, particularly in the areas of safety and health.

HOW WE ENGAGE

  • Site visits
  • Quarterly on-site CEO updates
  • Engagement surveys
  • On-site reviews
  • Regular meetings with unions and contract managers
  • Safety and health, and other meetings

The Group coexists with diverse communities in Chile, located in the Antofagasta and Coquimbo Regions. It is a priority for Antofagasta to strengthen engagement with communities in order to grow together and contribute to the long-term development of the areas around its operations. Group’s activities also naturally affect local communities and Antofagasta strives to prevent, mitigate and compensate for any adverse impact that these activities may have.

WHY WE ENGAGE

The wellbeing of local communities is directly related to Antofagasta’s business success and the Group is convinced that mining activities bring unique opportunities for national and local development.

HOW WE ENGAGE

Ongoing communication through the local engagement frameworks Somos Choapa and Dialogues for Development, which include: participatory dialogue, mine site visits, grievance mechanisms and citizen-participation processes and diverse communication channels.

Regular reporting of dialogue with local communities to the Sustainability and Stakeholder Management Committee and the Board.

The Group works with over 4,800 suppliers, of which 93% are based in Chile. Suppliers provide a large range of products and services, from grinding media to catering. 

WHY WE ENGAGE

Suppliers play a critical role in the Group’s ability to operate sustainably, safely and efficiently and therefore we ensure that they comply with the Group’s standards and guidelines on sustainability matters.

The Group pays special attention to the top suppliers in each category to ensure the most cost-effective, efficient, and sustainable solutions across all operations.

HOW WE ENGAGE

The procurement team maintains close relationships and regularly meets with suppliers.

The Group encourages suppliers to raise any issues or concerns they have about their relationship with the Company, their contracts or the workforce.

Antofagasta works together with local communities to foster local employment capabilities through offering job opportunities and training and/or by providing services to the mining industry.

The majority of our sales are to industrial customers, who refine or further process the copper concentrate and cathodes that we sell. Most sales are made under long-term framework agreements or annual contracts with sales volumes agreed for the following year.

WHY WE ENGAGE

The majority of the Group’s sales are based on long-term customer relationships and commitments. Without these long-term relationships, the Group would be required to sell a greater proportion of cathodes and concentrate on the spot market, which entails greater uncertainty around pricing and volumes that may be sold.

HOW WE ENGAGE

  • Major customers as equity holders in our mining operations
  • Annual trip to Japan by the Chairman and several Directors to meet our partners 
  • Marketing team’s regular meeting with customers around the world
  • Representative marketing office in Shanghai

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Shareholders are financial institutions and individuals that own shares in the Company. Shareholders are entitled to receive dividends from the Company and to vote at shareholder meetings to elect the Directors of the Company, among other matters.

WHY WE ENGAGE

Shareholders, and particularly institutional investors, are constantly evaluating their holdings in the Company as part of their portfolios. Providing insightful information about the Company’s strategy, projects and performance is crucial for their assessment of the Company.

The Group pays special attention to maintaining fluent and transparent dialogue with shareholders, in order to ensure that every shareholder is treated and informed equally.

HOW WE ENGAGE

The Company regularly meets with institutional investors and banks’ analysts at industry conferences and face-to-face meetings and on roadshows.

Once a year the Board attend the Company’s Annual General Meeting where they are available to answer questions.

The Company also provides regular production and financial reports.

Governments and regulators implement social policy and set the framework within which we are required to 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 the Group’s business.

HOW WE ENGAGE

Antofagasta works alongside mining associations and industry-related state bodies to engage with governments on public policy, laws, regulations and procedures that may affect the business.

The relationship with governments and regulators is strictly subjected to their engagement mechanisms, which are clearly defined under the Chilean Lobby Law No. 20,730.