In order to generate social profitability for the benefit of its areas of influence, the Antapaccay mining company currently has three investment mechanisms, with the active participation of the authorities and representatives of the communities, said Artemio Pérez Pereyra, manager of Social Management and Institutional Affairs, during his presentation at the conference entitled "Competitive and sustainable proposals for the development of Peru", at Heading to PERUMIN, an event leading up to the most important mining convention in Peru.
One of the mechanisms used by Antapaccay is the Framework Agreement, through which it has contributed 3% of the company's profits in projects to the province of Espinar and its eight districts. Since its execution to date, S/ 420 million have been allocated to 1,058 projects.
The second modality consists of direct agreements signed with the communities in the area of direct influence. In 2020 alone, the company invested more than S/ 25 million in projects with various social purposes.
Antapaccay also has a stake in Works for Taxes (OxI). Through this modality, it has coordinated with the national, regional and local government to allocate S/ 32.6 million in the execution of four projects.
Social profitability applied to the areas of influence
"Our social profitability allows us to address key sectors to improve the quality of life of our neighbors, such as education, health, economic and productive development, and water infrastructure projects," said the mining company representative.
In the area of education, Antapaccay launched the CREE project to invest more than S/ 15 million with encouraging results in math skills and reading comprehension of local students, outstanding performance in the National School Mathematics Olympiad and positioning Espinar as the third province with the highest number of new entrants to the High Performance Schools (COAR).
In the area of health, it contributed with the construction of the Espinar Hospital with an investment of S/ 8.2 million, and implemented a special area for the treatment of COVID-19 patients, with the respective medical and laboratory equipment and a type III ambulance.
Regarding the focus on economic and productive development, it invested S/ 8 million for a dairy plant in Espinar, the only one in the Cusco region with HACCP certification and currently benefiting more than 400 producers. Similarly, it allocated S/ 11 million to a fiber and wool plant for the benefit of more than 1,500 producers.
"We support water infrastructure projects for the irrigation of more than 3,000 hectares and we have augmented the drinking water treatment capacity for Espinar from 15 to 55 liters per second. Additionally, we have a water and sanitation project in our portfolio under the OxI modality, which is in the technical file review phase and has an investment of S/ 170 million", said Artemio Pérez Pereyra.
Labor and tax responsibility
To date, Antapaccay has generated 5,000 jobs and 40.5% of the workforce is made up of more than 2,000 inhabitants of Espinar. It also generated job opportunities for more than 50 local suppliers, which have invoiced S/ 869 million since 2015 and more than S/ 133 million in 2020, despite the ravages of the pandemic.
Moreover, the executive explained that the mining company is committed to the country and is responsible with the compliance with taxes. That is why it has paid the State more than USD 688.6 million in income tax between 2013 and 2020, allowing the Cusco region to receive a total of USD 344.3 million from the mining canon. In addition to this, it has contributed USD 228.3 million in mining royalties.
At the close of his presentation, Artemio Pérez Pereyra highlighted that Antapaccay complies with the norms and standards required by Peruvian legislation and is continuously supervised and audited. In addition, it recycles 79% of the water used for the operation and has rehabilitated 567 hectares of land with vegetation cover as part of the mine closure plan.
"We are a world-class mining operation based in the Cusco region and one of the main copper producers in Peru. We started operations in November 2012 and we have resources that exceed 1 billion tons, with a grade of 0.49%. In short, Antapaccay has reserves for approximately 20 years of production", he concluded.