Puna Case Study
Our Shared Future in Argentina
Our company achieved a major milestone on December 1, 2018 when we declared commercial production at our Chinchillas project. The mine will extend the life of the Puna Operations in Argentina and generate a wide range of benefits for our local partners.
We conducted a comprehensive, multi-year environmental impact assessment (EIA) to assess a wide range of potential impacts – both positive and negative – and to develop associated management plans. Topics included environmental and social impacts, from water and tailings management through to local employment and procurement opportunities. The Argentina government approved the EIA in December 2017 after extensive and thorough community consultations and review.
We placed a strong emphasis on local participation during the mine’s planning and construction phase. We attempted to hire as many local employees as possible and are proud that all 180 new employees hired in 2018 were from local communities. In addition, 30% of the enable local businesses to capture procurement opportunities from the mine. As part of the strategy, we worked in partnership with a local development organization – Nueva Gestión Fundación (New Management Foundation) – to deliver entrepreneurial training. In 2018, 14 additional local companies started providing goods and services to the mine.
As the mine continues to ramp up production, we will continue to work in partnership with our local stakeholders to maximize local value retention. We also look forward to investing in community development through the Fondo de Desarollo Social y Económico (Social and Economic Development Fund). These achievements are testament to the hard work and dedication of our employees and contractors as well as our government and community partners in Argentina. We look forward to continuing to work with our local partners to generate significant value for our stakeholders.