At Codelco we base our mining business on the goal of being a pillar of sustainable development in Chile and the world.
Considering the opportunities opened up by the decarbonization process of the global economy, the challenges of the industry, and its own challenges, we have defined a strategy to project our leadership into the next 50 years.
This strategy is structured around six strategic objectives, which also highlight our priority areas of focus:
Sustainability is a strategic objective of our business, supported by a model that aligns environmental, social, and human rights commitments within the framework of our role as a state-owned company, Chile’s leading corporation, and a global leader in copper production.
Within this framework, Codelco’s socio-environmental goals represent six aspirations for 2030, designed in alignment with the United Nations Sustainable Development Goals (SDGs), which Codelco adopted in 2016. These goals respond to society’s expectations for a new way of doing mining.
Reduce greenhouse gas emissions by 70% (scope 1 and 2), compared to 2019, in line with the Sustainable Development Goals on clean energy (SDG 7) and climate change action (SDG13), reaching Net Zero by 2050. In addition, reduce the intensity of Scope 3 emissions associated with strategic operational inputs by 25% and achieve 40% of the fleet for land passenger transport decarbonized by 2030, and advance to 100% by 2040.
Reduce by 60% the unit consumption of inland water for our sulphide plants in areas of water stress, compared to 2019, and reduce the consumption of inland water to 10% in basins of high water stress by 2035, contributing to the achievement of the SDGs on clean water and sanitation (SDG 6) and on responsible production and consumption (SDG 12).
Reduce particulate matter emissions by 25% by 2027, compared to 2022. This goal contributes to the achievement of the SDGs on health and well-being (SDG 3), sustainable cities and communities (SDG 11), and responsible production and consumption (SDG 12).
100% of TSFs with world-class sustainability and safety measures, aligned with Sustainable Development Goals 6 and 9 on clean water and sanitation, the use of water in mining processes, and a monitoring system for the physical and chemical stability of tailings deposits.
Recycle 65% of non-hazardous waste, moving towards responsible production and consumption (SDG 12).
Public-private partnerships are part of our growth strategy. As stated earlier, public-private partnerships are the second key factor to achieve our goals and efficiently bridge the gap between copper supply and demand that is expected in the coming years due to the widespread proliferation of renewable energies and electromobility.
We became the first large-scale mining company in Chile to fully certify our operations in compliance with the ISO 50001 standard for energy management systems. This outlines the practices and processes aimed at improving our energy performance.
Copper cathodes sold by the Radomiro Tomic (RTD) and Gabriela Mistral (GMD) divisions have received Chain of Custody certification from The Copper Mark, marking a significant milestone, as these are the first mine sites in the world to achieve this recognition. This certification signifies the presence of a traceable control system and ensures transparency throughout the value chain, detailing the sequence of companies and key stakeholders who maintain custody of the products as they move forward.
We finalized the public tender for renewable energy developed during 2023, thereby ensuring that, as of January 1, 2026, over 85% of the electrical energy used by our company is supplied with renewable sources.
Lithium Power International (LPI) shares are now controlled by Codelco, culminating the purchase process initiated in October last year, which supports the exploitation strategy for lithium in the Salar de Maricunga salt flats.
Representatives of our company and Rio Tinto visited the Nuevo Cobre exploration area in Atacama. The objective was to understand on site the geological, social and mining history of the district and its future potential, in addition to observing the progress of the project.
Codelco and SQM start collaboration with the Ministry of Science on issues pertaining to technological innovation, which will serve a strategic role in the development of the lithium industry.
With a corporate level activity held at the Gabriela Mistral Division and headed by the CEO Ruben Alvarado, in addition to ceremonies held at each work center, Codelco presented its new Charter of Values on April 17, introducing the five principles that will connect everyone who works for the company. We take care of each other; We live with respect; We comply with excellence and innovation; We value collaboration; and We build the future with sustainability.
The construction concluded and the ramp up of the second crushing line of Traspaso Andina began. This is the last stage of this key structural project in our company’s investment portfolio, which will extend the useful life of the Andean Division by at least 30 years. One of the largest copper deposits in the world that involved significant construction efforts for 12 years.
After creating the carbon footprint calculator in 2021, we signed a new agreement with the Ministry of the Environment and Corporación Alta Ley, with the aim of transferring it to Huella Chile, the official emissions quantification program, which will allow measuring, reporting and managing the carbon footprint of suppliers in the mining sector, while enhancing the decarbonization process among different actors that make up the industry.
We announced the modification of the contract for the sale of electricity signed in 2007 with subsidiary ENGIE, Central Termoeléctrica Andina SpA (CTA), to ensure a 100% clean energy matrix by 2030.
After the cessation of the Ventanas smelter in 2023, 350 people took advantage of the different arrangements offered by the company (transition plan, training to perform new functions in Ventanas or relocation to another work centers) in a process in which collaboration between the parties and constant dialogue prevailed, and which culminated in May.
We signed the agreement for a partnership with SQM, which positions Chile as a leader in the global lithium market. The document establishes in detail all the steps, stages, rights, obligations, terms and conditions of the public-private partnership that will assume the production of refined lithium in the Salar de Atacama from 2025 to 2060.
The Salvador Division inaugurated smart bus stops and converted 100% of its fleet of passenger transport vehicles to electric buses.
The Council of National Monuments approved the proposal to declare an area apart from the former Potrerillos camp as a ‘typical zone’. It is located in the foothills of the Atacama Region, about 47 kilometers from El Salvador. This initiative was promoted by Codelco’s Salvador Division, the regional government and different groups of Potrerillanos.
After hiring the Rothschild investment bank to help find a partner in the lithium project for the Salar of Maricunga, more than 50 companies were invited from around the world. Half of those invited have already signed confidentiality agreements.
Chuquicamata Subterránea concluded the semester with a female staff of 35% in the area of operations, positions traditionally occupied by men.
We achieved a historic milestone by securing US$ 532 million in climate financing, granted by the French bank Crédit Agricole CIB and guaranteed by the Multilateral Investment Guarantee Agency (MIGA), an entity of the World Bank Group. The funds obtained in this operation will be used to finance our ambitious plan to decarbonize 100% of our energy matrix by 2030.
For exceeding legal requirements and fulfilling commitments to our suppliers in a shorter time, we were recognized for the second consecutive year with the award for the Best Paying Companies, organized by the Bolsa de Productos de Chile (BPC) and the Asociación de Emprendedores en Chile (ASECh).
We consolidated our lead as the most attractive company to work for in Chile, according to Merco-Talento, for the ninth time in the history of the ranking as number 1 among 200 companies leaders in attracting and retaining talent in Chile.
The fleet, the largest in northern Chile, benefits 800 workers daily. These 65 new vehicles are in addition to those in use at our divisions El Teniente, Andina, Salvador and Chuquicamata, bringing our company to 250 units.
With the unanimous agreement of our Board of Directors, we finalized the purchase of 10% of Quebrada Blanca, an asset owned by the Empresa Nacional de Minería (Enami). This copper mega-deposit, in full operation of its second phase, will rank among the 20 operations with the highest copper production in the world. With this transaction we are partnering with the Canadian mining company Teck.
Former CEO André Sougarret and former director Juan Enrique Morales were nominated to serve as its representatives on the board of Teck Mining Company Quebrada Blanca SA.
We signed a Memorandum of Understanding (MoU) with Japanese firms Toyota Chile and Mitsui Chile for a strategic collaboration in the development and testing of sustainable mobility solutions in our mining divisions. This agreement seeks to promote competitive and environmentally responsible mining, minimizing its carbon footprint through electrification.
For the sixth consecutive year, we have been recognized as the best company to work for, according to the Merco Talento Universitario 2024 reputational ranking. This ranking is based on an assessment of university students and was conducted in collaboration with Laborum. The survey gathered responses from 3,819 future professionals across fields such as engineering, technology, economics, finance architecture, construction and social sciences, evaluating 200 Chilean companies.
In a key milestone for the decarbonization of the industry, we signed an agreement with Enaex that will transform the Radomiro Tomic Division into the first mining operation in the world to use the Prillex ECO2 explosive, whose main component, ammonium nitrate blue, emits a 40% lower carbon footprint during its production, compared with traditional formulae.
We remain firm as the most valued mining and state company in Chile, according to the ranking for corporate reputation at Merco 2024, after returning to the top ten in the overall list and maintaining our undisputed leadership in the mining sector.
