Glencore notes the 15 May ruling in Chile by the Second Environmental Tribunal which purports to set aside the Environmental Authorisation issued by the Environmental Assessment Service to the independently managed Collahuasi copper mine in 2021 for the “Infrastructure Development and Production Capacity Improvement” project that includes the development of a water desalination plant for Collahuasi, which is now almost complete.

Glencore understands from the Tribunal’s own press release that its ruling is limited to two specific aspects relating to analysis on the effects on a local community and on the marine environment. Collahuasi is currently in the process of seeking full clarification from the Tribunal and the SEA in order to determine the specific effects of its ruling, the matters that it requires SEA to re-examine, and any impact on Collahuasi’s operation.

Based on the information currently available and subject to the existing alternative water sources for Collahuasi, Glencore does not currently expect any immediate impact on production.

Collahuasi has confirmed that the environmental permitting process for the project was carried out in accordance with local regulations and under the relevant environmental framework. The RCA was obtained in December 2021, following a rigorous assessment process led by the SEA, including the indigenous consultation defined by the competent authority. This was subsequently confirmed by the Ministers Committee in August 2023.

Collahuasi has stated that it will continue to work in coordination with the relevant authorities and stakeholders, acting responsibly and in accordance with the legal framework, in order to determine the appropriate next steps.

Glencore will provide further updates as appropriate.