Company report
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.
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)
Indicator-by-indicator results
Economic Development
A.01 National and Regional Socio-Economic Development Planning
A.02 Procurement
A.03 Capacity Building
A.04 Enhancing the National Skills Base
Selected Mine sites results
Mine sites individually assessed but not included
in the overall company score
| Mine Site Name | Local 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) |
|---|---|---|---|---|---|---|---|
| Chuquicamata | 0 | 1 | 1 | 0 | 2 | 0 | 0.67 |
| El Teniente | 0 | 1 | 1 | 0 | 2 | 0 | 0.67 |
| Gabriela Mistral | 0 | 1 | 1 | 0 | 2 | 0 | 0.67 |
| Radomiro Tomic | 0 | 0 | 1 | 0 | 2 | 0 | 0.50 |
| Salvador | 0 | 1 | 1 | 0 | 2 | 0 | 0.67 |
List of all mine sites
| Mine Site Name | Aliases | Country | Company's share (%) | Products | Mining types |
|---|---|---|---|---|---|
| Andina | Río Blanco | Chile | 100 | Copper, Molybdenum, Silver | Open-pit, Underground |
| Chuquicamata | Chile | 100 | Copper, Molybdenum, Silver, Gold | Open-pit | |
| El Teniente | Lieutenant, Diablo Regimiento, Esmeralda, Pipa Norte | Chile | 100 | Copper, Molybdenum, Silver, Gold | Open-pit |
| Gabriela Mistral | Gaby | Chile | 100 | Copper | Open-pit |
| Ministro Hales | Chile | 100 | Copper, Silver | Open-pit | |
| Radomiro Tomic | Damiana | Chile | 100 | Copper, Molybdenum | Open-pit |
| Salvador | Chile | 100 | Copper, Molybdenum, Silver, Gold | Open-pit, Underground |
Main Shareholders
| As of: 2016 | Shares (%) |
|---|---|
| State of Chile | 100 |
Known Subsidiaries
| As of: 31/12/2016 | Country |
|---|---|
| Asociación Garantizadora de Pensiones | Chile |
| Central Eléctrica Luz Minera SpA | Chile |
| 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 Limitada | Chile |
| Cobrex Prospeccao Mineral | Brazil |
| Codelco Canada | Canada |
| Codelco do Brasil Mineracao | Brazil |
| Codelco Group Inc. | USA |
| Codelco International Limited | Bermuda |
| Codelco Kupferhandel GmbH | Germany |
| Codelco Metals Inc. | USA |
Known Tax Jurisdictions
| Bermuda | Brazil | Canada | Chile | China | Ecuador |
| Germany | Jersey | UK | USA |
Recent involvements in Investor/State investment disputes (since 2014)
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.