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Codelco presents sustainable development commitments by 2030

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Global Mining Review,

Codelco, the largest copper producer in the world, assumed public commitments in five areas of action associated with sustainability indicators for its operations and projects, approved by its board of directors, with explicit objectives for 2030 and that – in addition to cultural change, innovation, transparency and honesty – will be part of the main enablers of the transformation that the company is currently carrying out.

The commitments, among which the reduction of 70% of its carbon emissions and 60% of inland water consumption, as well as the recycling of 65% of its industrial waste, will be measured with specific performance indicators and are associated with specific business cases, which crosswise involve all the operational areas of the corporation.

“We have to build Codelco's transformation on a basis that is responsible for the environment and the communities, because we are aware of the climatic urgency we are experiencing. We are taking charge of our purpose as a company to strengthen the sustainable development of Chile and the world, with defined goals and deadlines,” commented Executive President of Codelco, Octavio Araneda.

Renato Fernández, Vice President of Sustainability and Corporate Affairs at Codelco, added: “It is a roadmap that connects us with current global trends and market demands, investors and civil society, with clear and measurable commitments in a matter of sustainable development that will enable our transformation and future.”

The company launched the internal campaign ‘Five commitments in our hands’ that puts workers at the centre of the strategy to meet this ambitious challenge that fights climate change, advances towards sustainable development by 2030 and allows it to enable its plan of business, in addition to contributing to responsible mining and a greener future.

The five commitments assumed by Codelco are as follows.

1. Lower carbon footprint: reduce greenhouse gas emissions by 70%

The company is aiming to enable a 100% clean energy matrix, will innovate to replace all production and logistics equipment in underground mines with electrical equipment and will actively participate in the search for new clean energy sources such as green hydrogen.

2. Lower water footprint: reduce the unit consumption of continental waters by 60%

Codelco will reduce the make-up (use of fresh resources in operations) for the use of continental water due to efficiency in the processes and will incorporate a desalination plant for the Northern District and, through innovative solutions, reuse the water from its dams.

3. Circular economy: recycle 65% of industrial waste

The company will recycle 100% of mining tyres and increase the recycling of the main non-hazardous solid industrial waste from its operations and projects, such as steel, wood, packaging materials, organic waste and scrap metal.

4. New standard in tailings deposits: 100% deposits with world-class sustainability measures

It will monitor in line with innovative systems the physical and chemical stability of the tailings deposits and will apply infiltration control systems.

5. Development of the territory with social value: increase the goods and services supplied by local suppliers by 30% along with increasing the local workforce

Additionally, the company will implement a new integration strategy with the territory with a focus on generating social value, by promoting local labour, strengthening mining education, and increasing territorial sustainability.

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