NEWS

05.10.11
ICMM welcomes Codelco as its latest member

ICMM has welcomed Codelco – Corporación Nacional del Cobre de Chile – as its latest member company. Diego Hernández took part in his first Council meeting of ICMM’s Council of CEOs in London today.

“We are pleased to have Codelco aboard as an ICMM member,” said Marius Kloppers, CEO of BHP Billiton, who today took over from Richard Adkerson, CEO of Freeport-McMoRan Copper & Gold, as Chair of ICMM.

“It signals the company’s commitment to working with their peers to advance the sustainable development performance of the sector in an open and collaborative manner.”

As part of its membership Codelco will be required to report publicly against their sustainable development performance on an annual basis.

Codelco’s membership was approved by an independent expert panel on the understanding that they will be able to fulfil all associated commitments within a two-year period. It is the third company to join ICMM using the new member process launched in May 2010.

Diego Hernández, President and CEO of Codelco, said: "Our company aims to be a leader in the way we care for the environment and neighbouring communities”.

“For Codelco, it is no longer enough to deliver the resources that benefit all Chileans, we must also play an active role in improving international sustainability standards. This is our challenge as we join this prestigious organization."

ICMM also welcomed four new associations to its membership: The Ghana Chamber of Mines, International Iron Metallics Association, International Manganese Institute and ITRI (the global association for the tin industry).

“Over the past few years our organization has grown as leadership companies have embraced the commitments that membership implies” said Anthony Hodge, President of ICMM. “We look forward to working with our members as they continue to pioneer good practices in the industry.”

ICMM members meet three times a year to discuss pressing sustainable development challenges faced by the industry.

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SUSTAINABLE DEVELOPMENT FRAMEWORK

Principle 01:

Implement and maintain ethical business practices and sound systems of corporate governance.

Principle 10:

Implement effective and transparent engagement, communication and independently verified reporting arrangements with our stakeholders.

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