Stakeholder Engagement
We are focused on driving long-term sustainable performance for the benefit of our customers, shareholders and wider stakeholders.
Below we describe our key stakeholders and summarise the engagement that has been undertaken across the business.
Shareholders
Why they are important
Our shareholders are investors and owners of the business. We seek to establish and maintain constructive relations with all shareholders through open dialogue and an ongoing programme of engagement.
Approach to Engagement
Engagement with shareholders is undertaken by a number of company representatives including the CEO, CFO, members of the Board, the Company Secretary and the Head of Investor Relations.
These interactions take various forms and include participation at sector-specific conferences, direct meetings with institutional investors, discussions with proxy voting agencies and at the Annual General Meeting. In addition to establishing an open dialogue with significant shareholders, the Company seeks to pro-actively engage with investors on proposals of specific interest, such as those relating to executive remuneration.
Employees
Why they are important
Our success relies greatly on our people. We seek to attract, retain, and develop our people through competitive remuneration, a positive and safe working environment and equal opportunities for all.
Approach to Engagement
Employee engagement generally takes many forms and incorporates Q&A sessions with management as well as surveys and presentations on specific subject matters.
Regular meetings are held throughout the year with the labour unions in each of our countries of operation, not only to negotiate collective agreements but to also discuss matters of interest such as enhancements to working facilities.
Opportunities are also taken to hold events that showcase the values that embody our corporate purpose of Responsible & Innovative Mining Committed to a Better World.
Social
Why they are important
In acknowledgment of our social licence to operate, we recognise our steadfast commitments to (a) minimise our environmental footprint and (b) understand the needs and expectations of our local communities.
Approach to Engagement
Through close collaboration, both directly with local communities and in partnership with third party organisations and authorities, we implement a variety of programmes to generate a positive impact within our sphere of influence. Our Community Relations Policy is focused on education, health and nutrition, and promoting socio-economic development. The Company is also committed to building trust and listening to community concerns with respect to our current and future activities.
Government/Regulators
Why they are important
We seek to establish and maintain a constructive relationship and open dialogue with the various governmental and regulatory authorities in our countries of operation.
Approach to Engagement
The Vice President of Legal and Public Affairs oversees the Company’s engagement with relevant authorities and regulators in Peru, both directly and through participation in industry associations and other business forums. This is supplemented by the work of various teams who interact with public officials and regulators as part of their responsibilities.
In our Argentinian joint venture, engagement with authorities is undertaken by the President, General Manager and General Counsel. The Company also actively participates in the Argentine Chamber of Mining Companies.
In Brazil, the Country Manager and Legal Director jointly lead engagement activities. Hochschild is an active participant in institutional forums and industry associations, at both national and state levels.
The Company Secretary and UK Counsel is responsible for engaging with authorities in the UK resulting from the Company’s London listing.
Suppliers/Lenders
Why they are important
As a key influence on how we operate our business, we seek a relationship of mutual benefit while requiring high standards of business conduct, safety and ESG performance.
Approach to Engagement
The General Managers of our Peruvian, Argentinian and Brazilian operations maintain ongoing dialogue with suppliers to the mine sites, either directly or, in the case of our joint venture in Argentina, through organisations representing suppliers in the province. Other suppliers, including lenders, are managed by the relevant functional departments such as IT, Group Finance and others.
With regards to existing lenders, the Company proactively engages on relevant business developments and sustainability performance. In all of our countries of operation, we seek opportunities to engage with suppliers within our spheres of influence.
Customers
Why they are important
Due to the nature of what we produce, Hochschild has relatively few customers. As a result, successful relations with our customers are of critical importance to our business.
Approach to Engagement
Our sales and logistics teams oversee a relationship of co-operation and constant dialogue. The Company seeks to continually establish new commercial relationships to mitigate the risks arising from a concentrated customer base and vulnerability to geopolitical developments. Hochschild representatives attend key trade events such as those held in LME Week in London and CESCO Week in Chile. During the year, the Company sought to establish new commercial relationships to mitigate the risk of a concentrated customer base and its vulnerability to geo-political developments.