Our Approach

"Sustainability is an integral part of decision-making at each stage of Antofagasta Minerals’ business life cycle. To this end, we identify risks, define policies and implement standards and management systems under the supervision of the Board through its Sustainability and Stakeholder Management Committee. "

The Group’s social strategy focuses on responsible behaviour, risk management and supporting local development. Environmental strategy covers environmental risk and impact management, resource efficiency and creating environmental value. Performance is measured by social and environmental Key Performance Indicators (“KPIs”).

For more information, please read Antofagasta Minerals Sustainability Report (PDF)

The Group’s sustainability priorities, explored in depth in the Focus Areas part of this website section, are those issues most material to its business.

The Group defines materiality based on the GRI G4 guidelines, which are driven by stakeholder engagement, risk assessment and peer benchmarking. These definitions are updated regularly. More detail on this materiality process can be found in the latest Antofagasta Minerals Sustainability Report.

The policies and corporate guidelines include specific safeguards with respect to the human rights of different stakeholders.

 WORKERS CONTRACTORS COMMUNITIES SOCIETY
  • Only employ individuals of legal working age.
  • High standards of safety and health.
  • Payment of fair wages, high standards of accommodation and good quality of food.
  • Maintaining good labour relations
  • Offer development opportunities.
  • Prevent discrimination, harassment and bullying.
  • Monitor standards of safety and health and provide appropriate working conditions and wages, amongst other key indicators.
  • Respect the rights, culture and heritage of communities.
  • Identify and manage any potential impacts early.
  • Listen and respond to grievances.
  • Support community development.
  • Prevent corruption and promote the reporting of malpractices.
  • Generate a positive social, economic and environmental legacy from the start of exploration to the end of operations.

The Group has no operations involving indigenous communities. However, it has had some exploration activity which has required engaging with indigenous communities and has been successful in maintaining a respectful and mutually beneficial relationship in accordance with International Labour Organisation (“ILO”) Convention 169 and ICMM recommendations.

Antofagasta Minerals participates in the International Council on Mining and Metals (ICMM), a global organisation dedicated to promoting sustainable standards for mining development and encouraging its members to adopt and share best social and environmental practices. Members must formally commit to the implementation of a set of principles and policies on sustainability, including safety and health, environmental management, community and stakeholder engagement, and corporate governance. 

For more information, please read Antofagasta Minerals Sustainability Report (PDF)

 

Governance 

The Board is ultimately responsible for the Group’s long term success. Its responsibilities include setting strategy, establishing policies and goals, monitoring economic, social and environmental performance, risks and internal control systems. The Board is supported by five committees including the Sustainability and Stakeholder Management Committee.

The Sustainability and Stakeholder Management Committee reviews and provides  recommendations to the Board regarding policies, strategies, guidelines and goals related to sustainability, including: occupational safety and health, environmental stewardship, human rights, communications, stakeholder engagement and communities. The Committee also ensures compliance with the laws, regulations and internal procedures. The Committees six corporate values form the foundation for Group decisions and business management.

The six corporate values are:

  • Respect
  • Safety
  • Health
  • Innovation
  • Excellence
  • Sustainability
  • Vision

For more information, please visit Board Committees

Our values and Code of Ethics provide the framework for how we manage and relate to Group employees, shareholders, authorities, communities, suppliers, partners and other stakeholders. We seek to be a Group that is recognised for honest business conduct, transparency and respect for human rights and the law.

The principles contained in the code of ethics are:

  • Respect for company principles and values
  • Compliance with laws and regulations
  • Prevention of conflicts of interest, corruption and bribery
  • Appropriate use of information
  • Ensure appropriate working conditions
  • Prevention of discrimination and harassment
  • Respect for human rights
  • Respect for communities, their traditions, customs and culture
  • No under-age employees
  • Fair wages, good accommodation and high health and safety standards
  • Good relationship with labour unions
  • Training and development opportunities
  • Monitoring employee satisfaction
  • Preventing discrimination, harassment or bullying
  • Ensure appropriate working conditions for contractors regarding health and safety, accommodation, wages and benefits
  • Prevention of corruption and whistleblowing procedures
  • Contributing to a positive social, economic and environmental legacy throughout the Group's business, from exploration to closure
  • Preventing and when not possible, mitigation environmental impacts
  • Respecting the rights, culture and heritage of local people
  • Identifying potential impacts
  • Early and ongoing community engagement from exploration to closure
  • Listening and responding to community grievances and other stakeholders
  • Supporting community development