We are moving forward in strengthening a world-class company based on values, and we report transparently on our performance towards mining based on principles and in support of sustainable development.

This report, which was prepared in accordance with the ICMM's assurance and validation principles and the “core” option of the GRI (Global Reporting Initiative) standards, aims to inform our stakeholders and the general public about our performance. It also seeks to share information on the way in which we are making progress in strengthening a mining operation based on principles in favor of sustainable development.

In order to offer a greater level of trust to the stakeholders and the general public in relation to the content of the Sustainability Report, we hired a company for the independent verification of the sustainability performance standards, applicable for the 2021 reporting period.

We carry out our productive activities with a focus on protecting people's health and lives, respecting the environment, ensuring social commitment, promoting human rights and operational efficiency.

Corporate governance structure

Minera San Cristóbal S.A. is a company incorporated in Bolivia in 2000. As of March 2009, we are a wholly-owned subsidiary of the Sumitomo Corporation, a multi-sector business conglomerate headquartered in Japan.

Ethical conduct

We carry out our activities within the framework of our management policy, our policy of mutual respect and ethical and legal principles, and avoiding any act of corruption, i.e. any act that violates the laws in effect and the ethical values governing our company.



The sustainability of our operations is the foundation on which we are building a new way of mining in Bolivia, aimed at achieving a better future for all.

Sustainable development is fundamental to our operations and the foundation on which we are building a new way of mining in Bolivia, aimed at achieving a better future for all.

Management Model

Our management system is the set of interrelated processes that, based on the efficient use of resources, seeks to achieve the strategic goals and vision of the business.

We develop a comprehensive risk management model with which we can identify, assess and manage risks and uncertainties in the face of internal and external events or scenarios that may hinder the achievement of our sustainability objectives.

Our sustainability performance in figures

Some of our 2021 goals and achievement thereof are described below:






Our stakeholders

We define our stakeholders as the people, groups of people, organizations and public/private institutions that affect or may be affected, positively or negatively, as a result of our activities.

Our stakeholders are:



We aim to have a positive impact on the local, regional and national economy, building solid and ethical relationships with our stakeholders.

The figures regarding our economic performance transparently show the positive impact of our company on development and on the local, regional and national economy.

Our net revenues from concentrate sales, including exports and local sales, increased by 99% (US$ 425M) compared to 2020, mainly thanks to an increase in the volume of concentrate sold, which accounts for 65% (US$ 277M), and the fact that in 2020 there was no concentrate production during approximately 90 days. The remaining 35% (US$ 148M) of the increase is explained by favorable prices for zinc, lead and silver.

We make significant efforts to benefit national and local suppliers with procurement for our operations. In 2021, we had a commercial relationship with 946 suppliers and we invested an approximate amount of US$ 262.5 million in the combined purchase of goods and services.



We keep our workforce safe by abiding by high international safety, health and welfare standards, seeking to provide them with the best working and human conditions within our reach.


We develop our operations under the best working and human conditions for our workers, who we train on an ongoing basis.

We have 1,319 employees distributed in the camp and the offices in Potosí and La Paz, as well as 579 contractors. Of our total workforce, 87% is male and 13% female. Forty-nine percent (49%) comes from the surrounding communities; 14% from the department of Potosí; 36% from other cities in the country; and foreign staff account for 1% of the total.


We promote permanent training on issues related to quality, health, safety and environment, and other technical and specific topics, aimed at the proper performance of responsibilities. The man-hours covered by these courses were as follows:


We manage a health system that gives priority to occupational health prevention among our workers and their families, providing timely and quality services, which are continuously improved.

During the COVID-19 pandemic, it was necessary to prioritize some health-related activities in order to put in place appropriate conditions for our workers to have access to timely, comprehensive and quality care. These activities were implemented within the framework of the "Preventive and intervention procedures in health for safe operations during the COVID-19 pandemic". This way, we carry out our regular operations, protecting our workers first and foremost. The main results were:


Our management model meets high standards of industrial safety and protection of our workers and contractors.
In the 2021 management, we achieved the goal of less than 1 in the Incident Frequency Rate (TRFR) for both MSC and contractors.

Behavioral observation

More than 80% of all accidents are caused by people's behavior, when failing to follow safety rules or good work practices. The STOP program is aimed at all workers and contractors taking care of themselves and stopping any dangerous behavior on time through a safety conversation.

Industrial hygiene program

We use this program to monitor exposure to physical and chemical agents and prevent the occurrence of occupational diseases.

Based on the results of the monitoring studies in all our areas, we can prioritize and optimize the working conditions, and recommend control measures and PPE appropriate to each activity.



We support the strengthening of development projects to improve the quality of life of the communities in our vicinity and their future generations.

In partnership with Fundación para el Desarrollo Sostenible (FUNDES) and within the framework of the Inter-American Development Bank (IDB) project "Expanding opportunities for development and economic growth in communities in the influence area of the mining sector", we continued to support the strengthening of productive development projects that will improve the quality of life of neighboring communities and their future generations.

Community investment

The community investments mainly focused on basic services 65%, followed by investments in infrastructure improvements 8% and investments in technical assistance, health and community relations 6%.

Compliance of agreements and covenants with communities

Within the framework of our management policy and our corporate values, we have a solid track record of complying with agreements with the communities, local and regional organizations. Thus, overall progress in this compliance reached 89% in 2021:

Social License to Operate (SLO)

This year, the average score was 3.48, meaning that the level of "tolerance" with our stakeholders was maintained. Compared to the average SLO score of the previous year (3.31), there was an increase, mainly thanks to the reactivation of direct relations with our stakeholders at the local and regional level.


We promote the care and rational, efficient and sustainable use of natural resources, as well as the implementation of good environmental practices.

We focus our environmental management system on compliance with current regulations; the care and rational, efficient and sustainable use of natural resources; and the application of good environmental practices.


The industrial water we use in our mineral processing plant comes from the pumping in the well fields. This water is classified as saline and not suitable for human or animal consumption or irrigation. Likewise, the source of groundwater extraction is located in an area where the demand for this resource is low; hence, no water stress is generated. Nevertheless, we maintain a policy of rational use and responsible management of this resource.

Thanks to the relative normalcy in the activities, the production of mineral concentrates increased. In turn, this led to an increase in the volume of water pumped from the well field and the volume of water recovered from the tailings deposit compared to the year before.


100% of the electricity we use in our facilities is acquired from the national interconnected system. Of the total consumption, electricity accounts for 52.1%; diesel for 47.3%; and petrol for the remaining 0.6%.

Energy consumption with respect to 2020 increased by 33%, mainly due to the gradual return to normal of our production activities. However, the rate of consumption per tonne of concentrate produced increased slightly, because the tonnage of ore treated in the plant increased by 4.2 million tonnes, that is, 30.6% more than in the year before.

The proportion of energy injected to the national interconnected electricity system, by source of generation, was as follows:

Energy from renewable sources will account for 39.56% by 2021.

Greenhouse gases (GHG)

The increase in the consumption of electricity and fuel in 2021 gave rise to a logical increase in total greenhouse gas (GHG) emissions. The total GHG emissions intensity rate is 0.462 t CO2eq per tonne of concentrate. The total value of the intensity of emissions is composed of the intensity of direct emissions with a value of 0.203 t CO2eq and an intensity of indirect emissions with a value of 0.259 t CO2eq.

Waste Management

Solid waste management comprises the following stages: classification at source (separation by type of waste); collection and transport; temporary storage; and final disposal. Of the 1,659.67 t of total waste generated, 79.41% was separated for recycling and reuse, and 20.59% was separated for disposal.