How we deliver our purpose
'Developing mining for a better future'
In order to deliver a better future we need a robust strategy. Our five strategic pillars are the key areas we focus on as a business, and these will drive us onwards to achieve our purpose.
Our vision is to be an international mining Company, 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.
For whom we want to achieve our purpose:
- Planet
Our vision of a better future reflects the quest for a more sustainable planet, with copper playing a central role in global energy security, electrification, economic progress and improved livelihoods around the world. - Society
Our vision of a better future is one that is developed together with local communities, aiming for a society that recognises the economic and social value generated by mining - Organisation
To tackle the challenges that we face in our daily operations and growth, we need a robust organisation that consistently meets these challenges and is grounded in clear and unshakeable values and principles. Our vision of a better future therefore encompasses our ethical organisational behaviour and continuous pursuit of a sustainable culture of trust, inclusivity, collaboration, agility and willingness to embrace change and continuous learning. - People
Our success relies on having the best people at the heart of everything we do. Our vision of a better future would be incomplete without the shared values of our workforce: a diverse and inclusive group of individuals open to learning and to enjoying personal and professional growth, who strive for excellence in their results.
How we will achieve our purpose through our five strategic pillars:
Our strategy is built around five pillars, each of which has defined long-term objectives with short- and medium-term goals.
Safety and sustainability
Emphasising safety and sustainability to enhance our current operations, and looking to the future.
Key initiatives:
- Decarbonisation and climate resilience initiatives
- Social contribution
- Health and safety
2024 Performance:
- Zero fatal accidents in 2024 9% reduction of Group's lost time injury frequency rate
- 3% increase in Mining Division emissions per tonne of copper production (Scope 1 and 2)
- 100% renewable energy (Mining division)
People and culture
Investing in people and fostering a positive culture to cultivate the talent necessary for a better future.
Key initiatives:
- Balanced workforce programme
- Leadership and Diversity Academy
- Adoption of new legislation during the year
2024 Performance:
- Inclusive practices are an integral part of how we work
- 26.6% of our employees are women
- Labour relations award received at Antucoya
Competitiveness
Our competitiveness is key to us achieving excellence and creating long-term value.
Key initiatives:
- Competitiveness Programme
- Operational Excellence Management System
2024 Performance:
- 664,000 tonnes of copper produced at a net cash cost of $1.64/lb
- EBITDA margin remains strong at 52%
- Competitiveness Programme delivered benefits of $248 million, surpassing target of $200 million
Innovation
Through innovation we are constantly committed to pushing back boundaries and exploring new ways of advancing.
Key initiatives:
- Integrated Remote Operations Centres
- Autonomous trucks and drilling
- Cuprochlor®-T
2024 Performance:
- Updated Integrated Remote Operations Centre operating model
- Workstream underway for commercial validation of Cuprochlor-T® with third parties
- Digital transformation and advanced analytics to optimise milling, flotation, and condition monitoring
Growth
Growth to continue contributing to the development of a better future.
Key initiatives:
- Completed: Los Pelambres Expansion Phase 1
- Underway: Centinela Second Concentrator and Los Pelambres growth enabling projects (including desalination plant expansion to 800 l/s and a new concentrate pipeline)
2024 Performance:
- Major growth and development projects remain on track and on budget as of year-end
Our strategic pillars are underpinned by our values.
Read more about our strategic pillars on pages 24-25 of the 2024 Annual Report.