Chile
Press Release

Public statement on resolution to reject Phase V project for El Soldado operational continuity

Bnamericas Published: Thursday, August 04, 2022

This is a machine translation of the Anglo American release originally published in Spanish.

ENVIRONMENTAL QUALIFICATION RESOLUTION PHASE V, EL SOLDADO

Anglo American has seen the Environmental Qualification Resolution (RCA) that rejects the Phase V project for the operational continuity of El Soldado. The document, issued by the Presidential Delegate in her role as President of the Valparaíso Regional Assessment Commission and by the Regional Director of the Environmental Assessment Service (SEA), bases its rejection on the agreement adopted by the Valparaíso Region Assessment Commission Valparaíso in its session on July 19, which considered that the Phase V project should have been evaluated through an Environmental Impact Study (EIA) and not as an Environmental Impact Statement (DIA), thus rejecting both the analysis carried out by the agency itself at the time the initiative was admitted for processing, as well as the exhaustive evaluation process carried out by the different technical services that unanimously ruled out impacts on health, natural resources and surrounding communities.

With this, the recommendation for approval issued by SEA V Region through the Consolidated Evaluation Report (ICE), which was based on the favorable pronouncement of all the competent technical agencies in environmental matters, has also been rejected.

Aaron Puna, Executive President of Anglo American in Chile, said: “It is worrying to us that a project that has a favorable consolidated evaluation report, with a recommendation for approval and visa without objection by the public services, is rejected. This decision gives us a mixed signal and adds uncertainty to the environmental assessment processes.

“As in any country in which we operate, we need a relatively stable environment, both fiscally and politically, to allocate capital to projects in the country. The decisions we are seeing make investment difficult and have a direct impact, not only on how we are seeing the future of our operations, but also on how the global mining industry looks at Chile's business climate."

The El Soldado Phase V project was designed following sustainability standards, and with the aim of adapting the operation to climate change, reducing the use of water and the generation of emissions. The initiative corresponds to an operational continuity project that seeks to extend the useful life of the mine from 2027 to 2037. In addition, it considers a series of operational and environmental improvements, including the implementation of a new stage of a pilot project to classify minerals according to the copper grade - Mineral Classifier or Bulk Ore Sorting, by its name in English - separating between high- and low-grade ore, and thus allowing a reduction in the use of energy and the generation of waste.

Anglo American is analyzing the RCA issued, to then make use of the instances defined by current environmental legislation to require the authority to review the rejection of the initiative.

About El Soldado

El Soldado is a medium-sized mining operation, with an average annual production of close to 45,000 tons of copper. Operated by Anglo American since 2002, El Soldado has been present in the Valparaíso Region for over a hundred years. Currently, 1,300 people work in El Soldado, including its own staff and contractors, mostly from nearby communities.

Note to editors

Anglo American is a leading global mining company and our products are essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, with a wide range of future development options, provides many of the metals and minerals that make a cleaner, greener, more sustainable world possible and meet the growing daily demands of billions of consumers. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and safely and sustainably extract, process, move and market our products to our customers.

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, iron ore and premium metallurgical coal for steelmaking, and nickel – with fertilizers in development – we are committed to being carbon neutral. across all of our operations by 2040. More broadly, our Sustainable Mining Plan commits us to a series of ambitious goals to ensure we work toward a healthy environment, creating prosperous communities and building trust as a corporate leader. We work together with our business partners and diverse stakeholders to unlock the lasting value of precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people's lives

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