Annual Report 2007 - Antofagasta plc

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Corporate Social Responsibility continuedStatus of certification ISO 9.001 (quality management) in Group operationsCompany Area (Business Unit) StatusLos PelambresExploration, extraction, processing of minerals,transport via pipeline and loading of copperconcentrateVersion: 2000, Certified: June 2006El Tesoro Whole company In process of implementation withexpected certification during 2008CSR REPORTMichilla Whole company Implementation process to begin inFebruary 2008FCABManagement services (transport of copper and Certified: 2003 with scope enlargementsulphuric acid with enlarged scope to include in January 2007mineral concentrates and general loadingservices)Integral Repair Shop Centre (electrical control Certified: July 2005of locomotives, repair and maintenanceservices with scope enlargement to coverdesign and metrology)Engineering and services (electrical motors Certified: January 2005repair and maintenance and componentsrecovery with scope enlargement to productionmanagement, engineering projects andoperator trainingTrain Ltda.Storage and transfer of sulphuric acid andcopper cathodes, transport of lime and cementCertified: October 2006Status of certification OHSAS 18.001 (safety and occupational health management)in Group operationsCompany Area (Business Unit) StatusLos Pelambres Whole company Version 1999, Certified: June 2006El Tesoro Whole company Certified: March 2006Michilla Whole company Certified: October 2006FCAB Whole company Certified: June 2007ADASAOperative areas of the company –treatment plants, distribution of potable waterand sewer systemUnder evaluation40Antofagasta plc Annual Report and Financial Statements 2007
Other international and national standardsCompanyStandardLos Pelambres Punta Chungo: The International Ship and Port Security Code (ISPS) certification in June 2004MichillaFCABAt the Caleta Michilla Maritime Terminal: The International Ship and Port Security Code (ISPS)certification in July 2004Competitive Company Programme, in collaboration with a health care association to managecompany riskADASAWater Quality Laboratory: accredited by INN, the Chilean National Standardisation Institute inNCh-17025, Chilean standard certification (equivalent to ISO) for controlling and quality ofwater. Accreditation for Laboratory Tests in microbiology and chemical physics is arequirement of the Superintendency of Sanitary ServicesCSR REPORTEl TesoroSystem to identify, evaluate and prepare action plans related to worker behaviour, supervisorleadership and the practice of the self-care concept, developed in collaboration with theMutual de Seguridad, a national organisation which aims to promote health and safety at workdescribed in the Corporate Governance report onpages 68 to 70. The main risk factors relevant tothe Group are set out in the Financial Review onpages 33 to 35.The Group’s risk management system has beendeveloped in-house and is based on conceptualmodels and various existing risk managementsystems. Its purpose is to monitor and increase thecontribution from each company through a centralsystem designed to prevent potential incidents whichcould generate losses and reduce the impact ofunavoidable incidents. Risk maps identifying keyareas exist at each business unit and risk managementprocesses are embedded at all levels including theearly project stage, for example at the Esperanzaproject in Chile and the Reko Diq project in Pakistan.The Group’s approach to risk also takes into accountsustainability considerations. During 2007, for example,a diagnosis including a stakeholder map was made byLos Pelambres of its operations and surrounding areas,to identify priority areas and define action plans.A reputational survey with local communities wasalso carried out at some of the Group’s operationsto provide relevant input for the risk managementprocesses in this area.An online information system is also in place tomanage and report incidents and to collate safetystatistics on a centralised basis through the Group’sintranet. Employees and contractors who are in chargeof an operation or project are responsible for managingrisk as it occurs. Using the system they are able toidentify risks (including possible losses, incidents andareas of non-compliance) and controls. The informationon the system is periodically updated and reviewed ateach business unit by a risk control manager as wellas the risk management team at Group level, whichreports the information including safety statistics andmeasures this against performance targets for theGroup and individual operations. Some operationshave had risk management systems audited as partof the requirement for obtaining ISO and OHSAScertifications. The Group shares informationrelating to risk management with other miningcompanies in Chile.The tables on pages 39 and 40 show the variousaspects of the detailed processes established byGroup companies which have been certified underISO 14.001 for environmental management, ISO 9.001for quality management and OHSAS 18.001 for safetyand occupational health management.Antofagasta plc Annual Report and Financial Statements 2007 41
Page 1: ANTOFAGASTAAnnual Report and Financ
Page 4 and 5: Highlights• Net earnings up 2.1%
Page 6 and 7: Highlights continued471.8 498.4 467
Page 8 and 9: CHAIRMAN’S REVIEWChairman’s Rev
Page 12 and 13: A R G E N T I N ACHAIRMAN’S REVIE
Page 24 and 25: Financial ReviewFINANCIAL REVIEWBas
Page 26 and 27: Financial Review continuedFINANCIAL
Page 38 and 39: Corporate Social ResponsibilityCSR
Page 41: TransportationThe Antofagasta Railw
Page 45 and 46: Organisations of which Group compan
Page 47 and 48: Compensation, recruitment and reten
Page 49 and 50: CSR REPORTEl Tesoro promotes a cult
Page 51 and 52: • health and safety issues are mo
Page 53 and 54: Native vegetation at the Choapa Val
Page 55 and 56: existing naturally in the Andean re
Page 57 and 58: saponaria), Espino (Acacia caven),
Page 59 and 60: • The “Together We Can Grow Mor
Page 61 and 62: Awards and RecognitionDuring the ye
Page 63 and 64: special dividend. The total cost of
Page 65 and 66: EnvironmentThe Group seeks to ensur
Page 67 and 68: Antofagasta Railway Company plc (ra
Page 69 and 70: Information and professional develo
Page 71 and 72: Company, for safeguarding the asset
Page 73 and 74: Statement of Compliance withthe Det
Page 75 and 76: Non-Executive Directors’ feesThe
Page 77 and 78: Audited InformationDirectors’ rem
Page 79 and 80: Basis of audit opinionWe conducted
Page 81 and 82: Consolidated Balance SheetAt 31 Dec
Page 83 and 84: Consolidated Statement of Changes i
Page 85 and 86: 2 Principal Accounting Policiesa) A
Page 87 and 88: 2 Principal Accounting Policies con
Page 93 and 94:
2 Principal Accounting Policies con
Page 95 and 96:
4 Revenue and Total Profit from Ope
Page 97 and 98:
5 Segment Information continueda) P
Page 99 and 100:
5 Segment Information continueda) P
Page 101 and 102:
6 Profit for the YearProfit for the
Page 103 and 104:
8 Net Finance IncomeNet finance inc
Page 105 and 106:
11 DividendsAmounts recognised as d
Page 107 and 108:
13 Property, Plant and EquipmentLan
Page 109 and 110:
16 Investment in Associate2007 2006
Page 111 and 112:
19 Inventories2007 2006US$m US$mRaw
Page 113 and 114:
22 Borrowings continued(ii)Other lo
Page 115 and 116:
22 Borrowings continuedd) Maturity
Page 117 and 118:
24 Financial Instruments and Financ
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
26 Deferred Tax continuedAt 31 Dece
Page 129 and 130:
29 Minority InterestsThe minority i
Page 131 and 132:
33 Notes to the Consolidated Cash F
Page 133 and 134:
37 Related Party Transactions conti
Page 135 and 136:
38 Contingent Assets and Contingent
Page 137 and 138:
40A Basis of Preparation of the Bal
Page 139 and 140:
40D Subsidiaries continueda) Invest
Page 141 and 142:
40G Independent Auditors’ Report
Page 143 and 144:
Dividends to Ordinary ShareholdersD
Page 145 and 146:
Mining Production and Sales, Transp
Page 147 and 148:
A ‘Measured Mineral Resource’ i
Page 149 and 150:
Notes to Ore Reserve and Mineral Re
Page 151 and 152:
GDPGross Domestic Product.Governmen
Page 153 and 154:
TC/RCTreatment and refining charges
Page 155 and 156:
Directors and AdvisorsDirectorsJ-P
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Annual Report 2007 - Antofagasta plc

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