Not listed:
Headquarters:
Chile
Sector:
Copper
Government Ownership:
State-Owned Entreprise (Chile)
Pre-tax Revenues (in BUSD):
11.537 (2016)
Number of employees:
18,605 (31/12/2016)
Number of workers
(employees + contract workers):
65,703 (31/12/2016)
Company-reported mining worker fatalities:
  • 2015 |
    Workers: 0
  • 2016 |
    Workers: 4
Home countries, where the company is headquartered
Producing countries, where the company has mining operations
Mine sites selected for mine-site-level assessment

Summary Results

CODELCO is one of the three strongest performing companies for Working Conditions, due to its formal commitment to provide a safe and healthy working environment and its performance tracking on this issue. CODELCO also achieves one of the five strongest results for Economic Development, due largely to its systematic and collaborative approach to identifying and addressing R&D priorities related to socio-economic and environmental issues in mining.

Other areas where CODELCO sees its best results include its systems to ensure local stakeholder expectations are considered when planning for land rehabilitation and post-mining land-use, and its systematic tracking of its performance on energy consumption.

On the whole, though, CODELCO’s overall performance is limited by a lack of evidence of systems to address Community Wellbeing issues, including human rights. For example, the company shows limited evidence of a formal commitment to respect human rights and shows no evidence of having conducted human rights due diligence assessments or of reporting on its management of human rights issues. The company also shows very limited evidence of tracking its performance on managing its socio-economic impacts in affected communities.

Economic Development

0.333 / 1.000

Business Conduct

0.423 / 1.000

Lifecycle Management

0.169 / 1.000

Community Wellbeing

0.112 / 1.000

Working Conditions

0.664 / 1.000

Environmental Responsibility

0.326 / 1.000

The maximum value of 1.000 represents the aggregation of best scores achieved for all indicators in a given thematic area, taking into account all companies’ results. As the aggregate best score varies from one area to another, these charts cannot be used to compare company performances across different areas.

All company results are based on public domain data that have been sourced by RMI analysts or provided by companies. In the case of a few companies, very little information was available. It is important to note that a low score may only reflect a lack of relevant information in the company’s publicly available documentation.

Relative company performance

Commitment (11 indicators)

Action (41 indicators)

Effectiveness (21 indicators)

1.000 = aggregation of best scores for all indicators of this measurement area.

Indicator-by-indicator results

Economic Development

Selected Mine sites results

Mine sites individually assessed but not included
in the overall company score

Mine Site NameLocal Procurement (score /6.00)Local Employment (score /6.00)Community grievance mechanism (score /6.00)Workers grievance mechanism (score /6.00)Water quality and quantity (score /6.00)Biodiversity management (score /6.00)Mine site (score /6.00)
Chuquicamata0110200.67
El Teniente0110200.67
Gabriela Mistral0110200.67
Radomiro Tomic0010200.50
Salvador0110200.67

List of all mine sites

Mine Site NameAliasesCountryCompany's share (%)ProductsMining types
AndinaRío BlancoChile100Copper, Molybdenum, SilverOpen-pit, Underground
ChuquicamataChile100Copper, Molybdenum, Silver, GoldOpen-pit
El TenienteLieutenant, Diablo Regimiento, Esmeralda, Pipa NorteChile100Copper, Molybdenum, Silver, GoldOpen-pit
Gabriela MistralGabyChile100CopperOpen-pit
Ministro HalesChile100Copper, SilverOpen-pit
Radomiro TomicDamianaChile100Copper, MolybdenumOpen-pit
SalvadorChile100Copper, Molybdenum, Silver, GoldOpen-pit, Underground

Main Shareholders

As of: 2016Shares (%)
State of Chile100

Known Subsidiaries

As of: 31/12/2016Country
Asociación Garantizadora de PensionesChile
Central Eléctrica Luz Minera SpAChile
Centro de Especialidades Médicas Río Blanco Ltda.Chile
Centro de Especialidades Médicas San Lorenzo Ltda.Chile
Centro de Servicios Médicos Porvenir Ltda.Chile
Chile Copper Limited UK
Clinica Río Blanco S.A.Chile
Clinica San Lorenzo LimitadaChile
Cobrex Prospeccao Mineral Brazil
Codelco Canada Canada
Codelco do Brasil Mineracao Brazil
Codelco Group Inc.USA
Codelco International LimitedBermuda
Codelco Kupferhandel GmbH Germany
Codelco Metals Inc. USA

Known Tax Jurisdictions

BermudaBrazilCanadaChileChinaEcuador
GermanyJerseyUKUSA

Recent involvements in Investor/State investment disputes (since 2014)

No case

Disclaimer

The findings, conclusions and interpretations within this 2018 Responsible Mining Index (RMI) report do not necessarily represent the views of funders, trustees, and employees of the Responsible Mining Foundation, and others who participated in consultations and as advisors to the report.

This report is intended to be for information purposes only and is not intended as promotional material in any respect. The report is not intended to provide accounting, legal, tax or investment advice or recommendations, neither is it intended as an offer or solicitation for the purchase or sale of any financial instrument. In order to fully understand the methodology of the 2018 Responsible Mining Index, the respective sections on the website should be consulted.

The RMI seeks evidence of companies’ policies and practices on economic, environmental, social and governance (EESG) issues, but does not seek to measure the actual outcomes achieved on EESG issues. Results are based only on evidence sourced from the public domain or provided by companies as open data. Whilst this information is believed to be reliable, no guarantee can be given that it is accurate or complete, nor does it preclude the possibility that policies and practices may exist, but which the RMI has not been able to consider for purposes of assessment. In this respect, the results of the low-scoring companies do not necessarily reflect a lack of relevant policies and practices; as they may be due to a lack of public reporting by the companies, limitations in accessing information, and/or any difficulties in accessing the RMI company portal.

It should be noted that, prior to publication, all companies in the Index were invited to check the factual accuracy of the contextual data and evidence upon which the Index is based and to review company information in the RMI document library.

Although every effort has been made to verify the accuracy of translations, the English language version should be taken as the definitive version. The RMI reserves the right to publish corrigenda on its web page, and readers of the 2018 RMI report should consult the web page for corrections or clarifications https://www.responsibleminingindex.org.