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. 


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.

Engagement activities

We interact with our shareholders through various methods throughout the year with the participation of the CEO, CFO, members of the Board, the Company Secretary and the Head of Investor Relations.

In 2021, we specifically engaged with investors on executive Remuneration Policy, the 2020 Remuneration Report, and through the Capital Markets presentation on the Group’s rare earths business, Aclara Resources.

Issues raised in 2021

  • Impact of safety events on executive remuneration
  • Progress at Aclara’s rare earths project
  • Various issues relating to ESG (environmental, social and governance)
  • Growth strategy

For further information on the actions taken by the Company in response to investor feedback on executive remuneration, please refer to the Directors’ Remuneration Report (accessible in the 2021 Annual Report).


Why they are important

Our people are key to the success of our business. We seek to attract, retain and develop our people through competitive remuneration, a positive and safe working environment and developmental opportunities.

Engagement activities

Employee engagement generally takes many forms and includes the use of surveys, presentations and Q&A sessions with management. Our 2021 programme included:

  • workshops hosted by senior management and external specialists facilitating discussions themed around the Group’s cultural attributes;
  • sessions led by the Country General Managers with managers of the mining units; and
  • regular meetings with labour unions to negotiate collective agreements and discuss matters of interest.
Issues raised in 2021
  • Covid-19 health protocols and information on vaccines
  • Adaptations prompted by the pandemic such as working shift changes and changes in catering provision due to contractor staff shortages
  • Remuneration retention plans for health personnel


Why they are important

We recognise our social commitments to (a) produce the smallest environmental footprint possible and (b) understand the needs and expectations of our local communities. Through close collaboration we implement social investment programmes in our areas of focus.

Engagement activities

We adopt a varied approach to engaging with local communities including:

  • direct interaction with local mayors and residents;
  • our Permanent Information Office (which re-opened for in-person service in 2021) and town hall meetings; community surveys;
  • collaborative activities, for example environmental monitoring; and
  • the implementation of local purchasing and hiring protocols.
Issues raised in 2021
  • Environmental issues
  • Local hiring and purchasing
  • Provision of education to children and others returning from cities
  • Covid vaccinations

Government & Regulators

Why they are important

It is our aim to maintain a constructive relationship and open dialogue with the various governmental authorities we interact with in each of the countries where we operate.

Engagement activities

The Vice President of Corporate Affairs oversees regular interaction with relevant authorities and regulators, both at a Company level but also through the National Mining Association. Various teams also regularly interact with public officials and regulators as part of their
operational functions.

The equivalent role in our Argentinian joint venture is undertaken by the General Manager and General Counsel. We also play an active role through the National Mining Association.

In 2021, management engaged directly with members of the Peruvian Government in response to actions by the Prime Minister in the Coracora district For further details, please refer to the commentary on Political, Legal and Regulatory risks in the Risk Management report.

Issues raised in 2021
  • Ongoing implementation of Covid-19 health protocols
  • Health & Safety and environmental performance and compliance
  • Contribution to regional development such as through local job creation and investment in social programmes/infrastructure
  • Discussions with representatives of the Tahltan Central Government on Hochschild’s planned activities at the Snip project.

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 conduct.

Engagement activities

The General Managers of our Peruvian and Argentinian operations maintain ongoing dialogue with suppliers to the mine sites. Other suppliers are managed by the relevant functional department such as IT, Group Finance, etc.

Issues raised in 2021
  • Ongoing application of Covid-19 health protocols for onsite suppliers (such as catering contractors)
  • The maintenance of stocks of critical consumables to mitigate supply chain risks
  • Ongoing discussions to anticipate price variations due to rising freight costs
  • With regards to its lenders, the Group provides information on an ongoing basis on relevant developments including operational, social and political matters


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.

Engagement activities

Our sales and logistics teams oversee a relationship of co-operation and constant dialogue.

In addition to usual relationship management, customer engagement during 2021 took place virtually including during London Metals Exchange week.

Issues raised in 2021
  • Shipping schedules due to the impact of delays in global logistics
  • Adjustments to standard logistics protocols to avoid shipping delays
  • Discussions on the provision of additional information/guarantees in light of HOC’s procedures to mitigate counterparty risk