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Sustainability / How we do Business

How we do Business

Our governance framework includes oversight from our Board, senior leadership, and site-level teams, all working together to ensure our sustainability programs are aligned, effective, and responsive to the needs of our communities and environment.

ON THIS PAGE

Business Ethics & Transparency
Human Rights
Third Party Standards

Board and Leadership Oversight

Our Safety, Sustainability and Technical Committee is made up of three independent Board members. This committee provides oversight of health, safety, environmental, and community-related risks and performance. It ensures our operations comply with applicable laws and regulations, and that we remain accountable to our sustainability commitments across all jurisdictions where we operate. At the management level, our corporate leadership team provides guidance and oversight to site-level teams, ensuring alignment with our strategic goals and risk framework. Each site is responsible for identifying local sustainability priorities, setting targets, and tracking progress with support from corporate leadership.

Managing Risk Responsibly

We use an enterprise-wide risk management system to identify and address risks and opportunities across our business. This system is based on the ISO 31000:2018 Risk Management Standard and supports conformance to UNGC Principle 7: Environment, which states that businesses should support a precautionary approach to environmental challenges. Risk assessments are conducted regularly at both the site and corporate levels to evaluate operational, health and safety, environmental, human rights, social, business, finance, and reputational risks and opportunities, among others, with quarterly reviews and annual reporting to our Board. Our Executive Risk Committee and Safety, Sustainability and Technical Committee oversee this process, ensuring that risks are managed proactively and transparently. A detailed enterprise risk review is also performed annually as part of the Board’s approval of our AIF.

At a glance, our governance framework includes:

Oversight by our Board of Directors’ Safety, Sustainability and Technical Committee (SSTC)
Integration of risk considerations into decision-making at all levels
Regular reviews and reporting by site teams, corporate leadership, and senior executives

Policies

Responsible Mining Policy

Our Responsible Mining Policy defines our commitment to sustainable practices and ensures our approach to sustainability is aligned with our business objectives. It complements key governance policies, including our Human Rights Policy, Diversity and Inclusion Policy, and Code of Conduct, Ethical Values and Anti-Corruption Policy. The policy is built around 17 core principles that guide responsible mining throughout the life cycle.

Safety, Sustainability and Technical Committee mandate

Our Safety, Sustainability and Technical Committee is made up of three independent Board members. This committee provides oversight of health, safety, environmental, and community-related risks and performance. It ensures our operations comply with applicable laws and regulations, and that we remain accountable to our sustainability commitments across all jurisdictions where we operate.

Code of Conduct

We are committed to ethical conduct across all aspects of our business. Our Code of Conduct sets clear expectations for ethical business conduct for all employees. It is available in all operational languages. Reviewed and updated regularly, it reflects international standards, including the UN Convention against Corruption.

Human Rights Policy

Respect for human rights is central to how we operate. We believe our activities can positively impact the lives and livelihoods of individuals and communities. At the same time, we recognize that our operations may cause, contribute to, or be directly linked to adverse human rights impacts. We work to prevent and mitigate these risks and actively promote broader respect for human rights wherever we operate.

Whistleblower Policy

All directors, officers, employees, consultants, and contractors are required to report any violations of Lundin Mining’s Code of Conduct Our Whistleblower Policy provides a global framework for making and managing these reports, including within joint ventures where we have managerial control. The policy applies to anyone with a business relationship with the Company and aligns with international standards, including the UN Convention against Corruption and applicable whistleblower protection laws.

We engage in ethical business practices grounded in transparency, accountability, and integrity to enhance trust with our stakeholders throughout the mine life and beyond. Our Code of Conduct aligns with the UN Convention against Corruption and supports legal protections for whistleblowers under national and international frameworks.

We recognize that while our activities can positively impact the lives, livelihoods, and rights of individuals and communities, there is also the potential to cause, contribute to, or be directly linked to negative human rights impacts. We are committed to preventing and mitigating human rights impacts associated with our activities, while contributing to the broader societal respect of human rights.

To meet this commitment, we conduct ongoing human rights due diligence across our operations. This includes identifying and assessing potential risks, engaging directly with affected stakeholders, and integrating findings into our risk management systems. We monitor the effectiveness of our actions and address impacts through remediation processes where required. This approach helps us anticipate issues early, respond transparently, and continuously strengthen our performance.

We align our practices with the UN Global Compact Principles on Labour, ensuring that our operations uphold internationally recognized human rights. This includes:

Respecting the right to freedom of association and collective bargaining
Eliminating all forms of forced or compulsory labour
Abolishing child labour
Promoting equal opportunity and eliminating discrimination in employment

Our Human Rights Policy and Code of Conduct reinforce these commitments across our operations.

We align our sustainability practices with internationally recognized standards, including:

ISO 14001:2015 Environmental Management
ISO 45001 Health & Safety
(OHSAS) 18001 Occupational Health and Safety Assessment Series
Global Industry Standard on Tailings Management (GISTM)
The Copper Mark™ and the Molybdenum Mark™ certifications for responsible production
United Nations Global Compact (UNGC) and its Ten Principles on human rights, labour, environment, and anti-corruption
UN Guiding Principles on Business and Human Rights (UNGPs)

Responsible Production Certifications

Responsible Production Certification

The Copper Mark^TM is a voluntary program that recognizes copper producers for their demonstrated commitment to responsible operating practices across the entire value chain. This award allows us to share the results in a standardized and transparent way with our shareholders, employees, communities, customers and other stakeholders. In 2023, Candelaria and Caserones were awarded The Copper Mark, following the extensive assessment process that culminated in late 2022. Similarly, Caserones was awarded The Molybdenum Mark^TM in 2023.