Economic Management

 

Minera Gaby S.A. adopted as its main challenge to become a benchmark company for both Codelco and for the Mining sector, for its good management and operational practices, thus creating new business opportunities.

2.8Scale of the reporting organization. (including geographic breakdown, sectors served, and types of customers/ beneficiaries). Minera Gaby S.A. is a company owned 99.9% by Codelco. The totality of its surplus is handed over to the Corporation and, consequently, to the State of Chile. During 2010, MGSA’s total contribution to Codelco surpluses was of 6.7%, amounting US$ 389 million.

To account for its contribution, both to Codelco and to the area where it operates, MGSA presents the economic value distributed during this period in its financial statement results for 2010.

EC1Direct economic value generated and distributed, including revenues, operating costs, employee compensation, donations and other community investments, retained earnings, and payments to capital providers and governments.