Minera San Cristóbal Announces Recent Acceptance to the International Council on Mining and Metals
The Admission Demonstrates the Bolivian Operation Commitment to Sustainable Mining
- Sumitomo Corporation’s subsidiary Minera San Cristobal has successfully completed the entry process to the International Council on Mining and Metals (ICMM), reflecting its dedication to sustainable mining practices, and implementation of the Sumitomo’s best practices.
- Minera San Cristobal is the first Bolivian mining company to become a member of the ICMM.
- Minera San Cristobal’s accredits its admission to ICMM to the good practices from parent company Sumitomo Corporation, based on the Japanese philosophy of harmonic balance between the individual, the nation, and society, as the key to a successful operation.
La Paz, Bolivia, May 16, 2018 – Today, Minera San Cristóbal, Bolivia’s most important mining company, announced that it successfully completed the entry process to the International Council on Mining and Metals (ICMM). This admission represents a major step forward for Minera San Cristóbal and the mine’s parent company, Tokyo-based (Sumitomo Corporation), reaffirming the company’s commitment to the global goal standards in sustainable development, ethical corporate behavior, and compliance with human rights. As Bolivia’s largest mine, Minera San Cristóbal includes an investment of USD$1.8 billion.
Minera San Cristóbal’s acceptance to ICMM means that it commits its mining operations to ethical standards including business ethics, corporate government, sustainability, and human rights issues, by contributing to social, economic, and institutional development in local Bolivian communities. By receiving this admission, it solidifies Bolivia’s commitment to provide the global mining industry with safely and sustainably mined minerals and metals.
As the first Bolivian mining company accepted to the ICMM, Minera San Cristóbal accredits its success to the vital role their parent company, Sumitomo, has played as an investor committed to the best practices in the industry. Sumitomo’s corporate best practices combine cutting edge technology, investments in local workforces, and proper employee training and education as the keys to generating revenue for shareholders, while having a positive impact on local communities.
Minera San Cristóbal’ s President, Mitsuhiro Hirano, explains, “Through the methodical operation requirements given to us by our parent Company Sumitomo, Minera San Cristóbal has become Bolivia’s largest and most lucrative mine for zinc, lead and silver. Our entry to ICMM reaffirms our dedication to sustainable development and ethical corporate values, which Sumitomo has instilled in us since our first day of operations. With continued guidance and support, we will keep elevating the level of our Bolivian operation to grow and flourish.”
Tom Butler, ICMM’s Chief Executive Officer said: “I am delighted to welcome Minera San Cristóbal as a new member to ICMM. MSC have shown real leadership in their environmental and social performance and have valuable experience to share with our other members.
“With a portfolio of South American operations and headquarters in Bolivia, Minera San Cristóbal will bring additional geographical diversity to the Council.”
Sumitomo’s guiding Business Principle, based on Japanese philosophies, encourages its employees to maintain a harmonic balance between the individual, the nation, and society, as the key to a successful operation. Finding its base in Sumitomo’s ideology, Minera San Cristóbal looks to lead local Bolivian and regional market standards for the mining industry, that emphasize the company’s dedication to minimal environmental impact and sustainable relationships with local communities.
About Sumitomo Corporation
Sumitomo Corporation (Japanese: 住友商事株式会社 Hepburn: Sumitomo Shōji Kabushiki-gaisha) is a leading Fortune 500 global trading and business investment company with 107 locations in 65 countries and 22 locations in Japan. The entire SC Group consists of more than 900 companies and 70,000 personnel. SC conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in companies to promote greater growth potential. SC’s core business areas include Metal Products, Transportation and Construction Systems, Infrastructure, Media and ICT, Living Related and Real Estate, Mineral Resources, Energy, and Chemical and Electronics.
About Minera San Cristóbal
Located in the province of Nor Lípez in the Department of Potosí, Minera San Cristóbal is the most important mining undertaking of Bolivia. The operations combines the use of state-of-the-art technology with a constant qualification of all the workers, a strict control of industrial and occupational health and safety, environmental preservation and social commitment to the communities. MSC aims to contribute to development of the region where it operates, the Department of Potosí and the country as a whole.
Burson Cohn & Wolfe