• The aim is to reduce GHG emissions in copper operations in the Americas by 15% by 2030.

During her participation in Rumbo a PERUMIN, the VP of Corporate Affairs of Sociedad Minera Cerro Verde, Julia Torreblanca, expressed that being more efficient in the management of natural resources is a matter of concern and is part of the decisions that must be made on a daily basis.

“To do things the right way, it is necessary to be committed, to have leadership and to have the support of companies, the Government and civil society as a whole, respecting the rules and the environment, and trying to make the world a better place. This will be made possible thanks to copper, one of the main metals being used to achieve decarbonization.”

Likewise, she highlighted the importance of mining for the country, as it produces the resources required to close the existing gaps in every region.

“We have made the decision to work together with the Government through the Public Works for Taxes scheme, public-private partnerships or other mechanisms, so that the resources derived from mining can reach the communities that need them the most, closing gaps in education, health, sanitation, drinking water, among others.”

She underscored that this work requires the commitment of everyone at different levels, evaluating its prioritization in the short and medium term.

“We have resources, but they cannot be spent on renovating the Municipal Palace. We must focus on finding a way to provide drinking water to the entire population and contribute to the SDGs, in order to have a better environment and development for the people.”

She also emphasized that, just as the country's goals have been set and the challenge is to achieve them, each of the companies has the task of doing the same within their organizations.

“In the case of Cerro Verde, the majority shareholder Freeport-McMoRan, recognizing itself as one of the world's largest copper producers, understands its critical role in the low-carbon energy transition, not only because it is dedicated to supplying the economy with responsibly produced copper, but also because it has the commitment to operate in a manner that mitigates greenhouse gas (GHG) emissions and other related environmental impacts.”

In this regard, she pointed out that this climate strategy is made up of three pillars: reduction, resilience and contribution. However, she added that not all activities can be mitigated by 100%, but that they can be offset and additional measures can be implemented to develop mining activities creating value and environmental assets.

In terms of GHG emissions reductions by 2030, they cover almost all of Scope 1 and 2 and support the decarbonization of Freeport's mining business globally.

The first target, established in 2020, seeks to reduce the GHG emissions intensity of its Americas copper operations by 15% by 2030 from its 2018 baseline. In addition, it seeks downstream processing from the Miami and El Paso refinery.

The second target, established in 2021, seeks to reduce the GHG emissions intensity of its Indonesia copper operations by 30%.

The third and fourth targets, established in 2022, seek to reduce the GHG emissions of its Atlantic Copper smelter & refinery in Spain by 50% and of the primary molybdenum sites by 35%.

Lastly, she explained that the decarbonization initiatives can be described by four primary levers: decarbonizing electricity supply in the operations, electrification of equipment, energy and asset efficiency and process innovation. These four levers are the foundation to further define the roadmap to achieve the 2030 GHG emissions reduction targets.