Submitted by jpinto on Mon, 09/27/2021 - 20:25

Closing strategy and delivery of operations

Preparing for the termination of mining titles and handing over operations is a business practice, considered from the beginning of activities, allowing us to reduce our actions' impacts. The objective is to do so responsibly once our contracts, valid until February 2034, have ended.

For this process, we have to assess the existing risks to identify the appropriate management measures. These, in turn, are the basis for estimating costs and including them in the company's financial provision. Each year it must be updated to reflect the changes derived from current interventions, environmental conditions, and the reality of the business.

Our legal requirements are specified in the mining operation contracts, the current Environmental Management Plan, the Preliminary Closure Plan filed with the National Environmental Licensing Authority (ANLA), and the environmental requirements defined by this authority.

The methodology used integrates the different planning processes, internal and external requirements, and environmental, social, and financial considerations on the operation's life cycle so that, upon concluding the contracts, a positive legacy can be left in the region.

We execute progressive closure measures associated with responsible environmental and social impacts from the beginning of the operation. Among these measures is the progressive rehabilitation of areas intervened by mining, the declaration of reserve areas to conserve biodiversity, and the development of social programs for the generation of alternative production systems to mining in La Guajira.

Other projects

La Puente Project

This is a unique engineering project in Colombia and its indicators make it an example for the country, showing that it is possible to combine ecology and engineering to undertake mining responsibly as regards the environment and communities.