A message from the CEO: Hard times are SusTINable times

The current global circumstances test us daily, but at Minsur we have managed to overcome these difficulties, adapt, and become stronger.

In first place, I hope that all of you, your families and employees are keeping well and in good health throughout this pandemic.

I would like to start with a brief chronological review to share with you how our strategy, our timely response, and the hard work of all the people at Minsur, have allowed us to be resilient and adapt to this new reality.

Covid-19 has forced us to transform ourselves, to rethink the way we work, prioritizing the health and well-being of our employees; but at the same time, maintaining the sustainability of our business and always applying the highest standards. Our source of inspiration and guidance have always been our purpose, values, and business philosophy.

With the announcement of the confinement in Peru, came a period of uncertainty and fear. We knew that difficult times were coming and that it could hit us hard, but we did not suspect the impact it could have on us. This put us in a position of having to make quick decisions, with very little information available. There was no data, evidence, or analysis we could hold on to.

We chose to protect the health of our workers and their families at all costs. For this reason, we decided, at first, to suspend production activities and focus on the development and implementation of protocols. It was a learning process, seeking the best advice, planning, coordinating the necessary logistics.

The results of this learning experience have been prominent. We developed protocols that, applied once we resumed operations, proved to be the most robust in the industry, allowing early detection of cases and provision of the best epidemiological treatment. In this way, to date, we have been able to mitigate the impact of Covid at our operating units, working very hard to protect the lives of our people.

However, our role was not only limited to actions within our company. We reinforced the commitment that we have always had with the communities, with the regions where we operate, and with our country. Private companies have played an exceptional role in the most critical moments of the pandemic. In this line, Minsur led many initiatives to strengthen the health care system in regions such as Puno, Tacna, or Ica, where we operate.

All our know-how in logistics and project management were made available to the government and authorities, but we also contributed resources that were essential to mitigate the terrible effects of the pandemic: oxygen plants and health infrastructure, medical and laboratory equipment, biosafety material, support for virtual education, among others. As I always emphasize, sustainability is not only related with what we do for our people, communities, and clients; it is evidenced on the commitment that we make and fulfill with each of our stakeholders.

The pandemic has resulted in a new stage for Minsur and has highlighted the importance of the cultural transformation that is occurring within the company. I am not just talking about adapting to new standards and health and safety protocols or changing behaviors. It is a new way of doing things.

This transformation process started before the pandemic, but we decided to accelerate it in the face of the crisis. This transformation process is being implemented through two very relevant programs: The Digital Transformation Program and the LINGO Program, which are described in this newsletter.

These challenging times have also allowed us to reflect on the importance of communication and the trust that we build every day with our stakeholders; our workers and their families, our communities, suppliers, directors, and you: our valued clients and partners.

I want to thank you for the trust that you have placed in us and reaffirm our commitment to continue delivering 100% sustainable, traceable, high-quality products. Our commitment is to continue to be a sustainable and reliable long-term supplier of minerals and metals for a better world.

Juan Luis Kruger

CEO, Minsur