Closing strategy and delivery of operations
We consider preparing for the termination of mining titles and handling over operations from the beginning of our operations, which allows us to consider how we effectively reduce our operation's impacts. Our 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.
We execute progressive closure measures, keeping in mind environmental and social impacts of our operations. Among these measures is the progressive rehabilitation of areas intervened by mining, reserving areas for the implementation of biodiversity conservation measures, 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 which was carried out with attention to ecology, the environment and communities and was based on technical studies.