World’s largest copper producer commits all its sites to participate in the Copper Mark’s framework by end of 2023

The Copper Mark, the assurance framework to promote responsible practices and demonstrate the copper industry’s contribution to the United Nations Sustainable Development Goals, has confirmed that Codelco – the world’s largest copper producer – has committed to have all its sites participate in the framework by the end of 2023. The first Codelco site to participate in the Copper Mark will be the company’s El Teniente site in Chile.

Codelco’s commitment to have all its sites participate in the Copper Mark framework within the next two years is further evidence of the growing momentum behind the Copper Mark and the increasing commitment of major copper producers to adopting and promoting responsible production practices across their operations.

The announcement is also a testament to Codelco’s growing commitment to demonstrate responsible and sustainable production practices across its global operations. The company’s participation in the Copper Mark framework builds on its commitment to reduce its greenhouse gas (GHG) emissions by 70% and decrease its consumption of continental waters by 65% by 2030, as well as achieve carbon neutrality across its operations by 2050.

Michèle Brülhart, Executive Director of the Copper Mark, said:

“We are delighted that the world’s largest copper producer, Codelco, has made a commitment for all its sites to participate in the Copper Mark. Their willingness to commit all their sites to participate in the assurance framework by the end of 2023 reflects the company’s long-term ambition to demonstrate its use of responsible production practices.

“The commitment from Codelco to our framework is indicative of a wider trend we are seeing from copper producers, who are responding to ESG demand from investors and customers to adopt more responsible production practices that we expect to continue to grow as part of the shift towards creating a greener economy.”

Renato Fernández, Vice President of Corporate Affairs and Sustainability of Codelco, said: “The first division that will participate in this initiative will be El Teniente and we estimate that by the end of 2023, 100% of our operations will participate in this international assurance programme that represents an external and independent validation for our route towards processes with less impact.”