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Sustainability
Report 2011

• Our major milestones
• Message from The Chairman of the Board


• Message from the Chief Executive Officer


• About this Report
• Listening to our Stakeholders
• Our stakeholders
• Copper processes and sustainability aspects

We are
Codelco

• Codelco Divisions and Business Centers
• We are Codelco, the largest mining company in Chile


• Sustainability Strategy
• New structural projects
• Sustainability in projects and explorations


• Values, policies and memberships
• Sustainability challenges and commitments

Economic
Aspects

• Our main economic and financial results
• Codelco in the national economy
• Business transparency and probity

Our
workers

• Who works at Codelco?
• Human rights and labor practices at Codelco


• Our relationship with collaborating companies


• Labour fines

Occupational
health and safety

• Work accidents and professional illness results


• Investment in occupational health and safety

Environmental
management

• Environmental management
• Smelter emissions & Industrial waste
• Incidents with environmental consequences


• Biodiversity in our environment
• Land management & Mine closure operations


• Environmental fines, Investment & Projects under Environmental Assessment



• Product impacts, risks, and opportunities

Social
management

• From community management to community development

LISTENING TO OUR STAKEHOLDERS: WHAT DO THEY THINK OF OUR REPORT?

(3.5) Process for defining report content. Since 2003, we have asked our stakeholders for their opinion on our Sustainability Report and on which matters interest them most, about which they would like to be informed in greater depth. Ever since, their contributions have been incorporated in both the form and the content of the reports, with particular emphasis on opportunities for improving our publication.

Unlike previous experiences, in 2011 we carried out an extensive consultation process that covered almost the entirety of the Corporation's stakeholders, through a methodology that included interviews, workshops and surveys.

Stakeholders Consultation 2011

• The Report is positively assessed, especially in its design and layout, paper and colors.
• Recommendations: reduce its size and extension, achieve a greater dissemination and massification, and maintain the printed and digital versions as complementary media to reach a greater number of people more easily.

• It is considered a complete report that covers all aspects of sustainability and responds excellently to international reporting standards.
• Recommendations: achieve a greater balance between positive and negative issues, use simpler language, give greater context to the data published (especially when it comes to local information or information on the divisions), and approach the topics that are most relevant to the stakeholders more visibly.

TOPICS OF GREATEST INTEREST

(3.11 / 4.17) 3.11 Significant changes from previous reporting periods in the scope, boundary, or measurement methods applied in the report..
4.17 Key topics and concerns that have been raised through stakeholder engagement and how the organization has responded to those key topics and concerns, including throughits reporting. As a result of this consultation, the 2011 Report incorporates significant changes, with which we hope to meet all our stakeholders’ expectations:

• We reduced the number of pages without limiting information on all the indicators and important subjects for the year.
• We simplified the content, focusing with greater emphasis on material topics or those of relevance for Codelco and its stakeholders, highlighting important issues beyond what is required by GRI.
• We produced sustainability reports for each division, in order to give a better context to the local data.

RISKS IMPACTING OUR BUSINESS

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