Company Profile

 

 

Company Profile

 

2.1Name of the organization. 2.4Location of organization’s headquarters. Minera Gaby S.A. (MGSA) is a Codelco Subsidiary located in the north of Chile, in the Sierra Gorda County of the Antofagasta Region, at a height of 2,660 m.a.s.l. This company began operating the Gabriela Mistral Deposit in 2008, and has incorporated high levels of state of art technology in copper production from the beginning.

 

2.2Primary brands, products, and/or services. 2.8Scale of the reporting organization. (including geographic breakdown, sectors served, and types of customers/ beneficiaries). The operation is an open pit, using autonomous trucks, and the first electroobtained cathode–its main productwas obtained in May 2008, when annual production was at close to 80 thousand fine metric tons (fmt). During 2010, copper production rose to 117 thousand fmt, a 46.3% increase compared to its initial production. This deposit has total reserves of 544 million tons of oxidized copper with an average grade of 0.4% and a useful life of 15 years.

 

2.5Number of countries where the organization operates, and names of countries with either major operations or that are specifically relevant to the sustainability issues covered in the report. 2.6Nature of ownership and legal form. 2.7Markets served. MGSA operates and sells its products in Chile, under the form of a closed anonymous society, with Codelco holding 99.9% of the shares and 0.1% belonging to Copperfield Investments Ltd.

 

As its main objective, Minera Gaby S.A. strives to recognize, prospect, research, develop and exploit mining deposits to extract, produce and process minerals and byproducts, and its strategy is aimed at developing and implementing new technologies in its geo-mining- metallurgical processes, especially in environmental, economic, and social aspects.

 

Regarding sustainability, MGSA stresses both environmental as well as social and work-related issues, as the company, in its efforts to protect the environment, has developed a clean operation and is constantly evaluating the incorporation of new non-polluting technologies, such as wind and solar.

 

Regarding fundamental rights, and especially in work-related matters, MGSA incorporates women both in productive and administrative tasks, accounting for 20% of their direct headcount. This breaks the mining industry record for hiring female staff (6%).

 

Organization

 

2.3Operational structure of the organization, including main divisions, operating companies, subsidiaries, and joint ventures. 4.1Governance structure of the organization, including committees under the highest governance body responsible for specific tasks, such as setting strategy or organizational oversight. The MGSA Governance Structure is made up of a General Management, three Directions – Sustainability Direction, Human Resources Direction and the Strategic Planning and Management Control Direction – and four Managements – Mining Resources and Development Management, Mine Management, Plant Management and Service Management.

 

 

 

4.2Indicate whether the Chair of the highest governance body is also an executive officer. 4.4Mechanisms for shareholders and employees to provide recommendations or direction to the highest governance body. The Minera Gaby S.A. Chairman of the Board does not hold an executive position in the company, but is the Chief Executive Officer of Codelco. The existing mechanism for stockholders and personnel to express recommendations or indications to the highest governing entity is through the monthly meetings of the MGSA Board and those of the Codelco Board, attended by worker representatives.

 

Minera Gaby S.A. Stakeholders

 

4.14List of stakeholder groups engaged by the organization. 4.15Basis for identification and selection of stakeholders with whom to engage. Minera Gaby S.A. acknowledges five stakeholders, who comprise all the people with whom MGSA has any kind of relationship. These are people or groups of people that may be affected by the company and that, at the same time, can have influence over the company.