LA PAZ, Bolivia, May 17, 2018 /PRNewswire/ -- Today, Minera San Cristóbal, Bolivia's most important mining company, announced that it successfully completed the entry process to the International Council on Mining and Metals (ICMM). This admission represents a major step forward for Minera San Cristóbal and the mine's parent company, Tokyo-based, Sumitomo Corporation, reaffirming the company's commitment to the global gold standards in sustainable development, ethical corporate behavior, and compliance with human rights. As Bolivia's largest mine, Minera San Cristóbal includes an investment of USD$1.8 billion.
As the first Bolivian mining company accepted to the ICMM, Minera San Cristóbal accredits its success to the vital role their parent company, Sumitomo, has played as an investor committed to the industry's best practices. Sumitomo's corporate best practices combine cutting edge technology, investments in local workforces, and proper employee training and education as the keys to generating revenue for shareholders, while having a positive impact on local communities.
Minera San Cristóbal' s President, Mitsuhiro Hirano, explains, "Through the methodical operation requirements given to us by our parent Company Sumitomo, Minera San Cristóbal has become Bolivia's largest and most lucrative mine for zinc, lead and silver. Our entry into ICMM reaffirms our dedication to sustainable development and ethical corporate values, which Sumitomo has instilled in us since our first day of operation. With continued guidance and support, we will keep elevating the level of our Bolivian operation to grow and flourish."
Tom Butler, ICMM's Chief Executive Officer added: "I am delighted to welcome Minera San Cristóbal as a new member to ICMM. MSC have shown real leadership in their environmental and social performance and have valuable experience to share with our other members. With a portfolio of South American operations and headquarters in Bolivia, Minera San Cristóbal will bring additional geographical diversity to the Council."
Sumitomo's guiding Business Principle, based on Japanese philosophies, encourages its employees to maintain a harmonic balance between the individual, the nation, and society, as the key to a successful operation. Finding its base in Sumitomo's ideology, Minera San Cristóbal looks to lead local Bolivian and regional market standards for the mining industry, that emphasize the company's dedication to minimal environmental impact and sustainable relationships with local communities.
About Sumitomo Corporation
Sumitomo Corporation (Japanese: 住友商事株式会社 Hepburn: Sumitomo Shōji Kabushiki-gaisha) is a leading Fortune 500 global trading and business investment company with 107 locations in 65 countries and 22 locations in Japan. The entire SC Group consists of more than 900 companies and 70,000 personnel. SC conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in companies to promote greater growth potential. SC's core business areas include Metal Products, Transportation and Construction Systems, Infrastructure, Media and ICT, Living Related and Real Estate, Mineral Resources, Energy, and Chemical and Electronics.
About Minera San Cristóbal
Located in the province of Nor Lípez in the Department of Potosí, Minera San Cristóbal is Bolivia's most important mining undertaking. The operations combine the use of state-of-the-art technology with constant trainings for employees, a strict control of industrial and occupational health and safety, environmental preservation, and social commitment to the communities. MSC aims to contribute to development of the region where it operates, the Department of Potosí and the country as a whole.
SOURCE Minera San Cristóbal