Sustainable mining at Antofagasta Minerals

"Over the last few years, the copper mining industry has been facing a changing scenario with respect to both the market and society which has resulted in taking a closer look at the way in which mining is being done. The cycle of high metal commodity prices of the last decade left the industry with high costs. Together with increased environmental and social requirements, a decrease in ore body quality, scarcity of resources such as human capital, water and energy, has resulted in an ever-increasing challenge to make a profit out of new ore bodies but also to maintain the current operations in the longer term competitive. The major challenge is to create value for all stakeholders, exploiting ore bodies that nowadays are not considered economically attractive, which applies to both new ore bodies and existing operations, but in a sustainable way. In order to achieve this objective, it is necessary to approach the mining business differently in five main areas: (1) operational efficiency through better use of installed equipment and skilled labor force; (2) efficient use of energy; using opportunities for alternative energy sources and efficient design; (3) efficient use of water; diminishing losses and use of seawater as an alternative source; (4) minimizing environmental impact by eliminating effluents and controlling dust emission; and (5) a more closer, proactive and collaborative relationship with the communities allowing them to be an active player in the solution to assure a sustainable business in the long term. This presentation will show how Antofagasta Minerals is facing these challenges with a long term strategy that includes all of the above mentioned aspects and that is allowing the company to exploit its mineral properties in an efficient and successful way."