Stakeholders Relations

The Company will engage stakeholders clearly, honestly, and respectfully.

The Company is committed to timely and meaningful dialogue with all stakeholders, including shareholders, customers, suppliers and employees, indigenous peoples, governments, regulators, and landowners, among others.

The Company’s shareholders are the main stakeholder with which the Company relates. The principles guiding this relationship are:

  • shareholders must exercise their rights vis-à-vis the Company and other shareholders, and must comply their duties, acting with loyalty, in good faith, and transparently, within the framework of the corporate interest as the paramount interest ahead of the private interest of each shareholder;
  • the Company facilitates and promotes a responsible exercise of their rights and the performance of their duties by the shareholders and the holders of rights or interests in shares, subject to the principle of equal treatment;
  • the Company favours the informed participation of the shareholders at the Shareholders’ Meeting and takes proper measures to facilitate the effective exercise by the shareholders at a Shareholders’ Meeting of the powers they hold under the law and Articles of Association;
  • the Company encourages the engagement of the shareholders in corporate life, especially in the areas of corporate governance and social responsibility.

The Company considers its employees to be a strategic asset, to whom it cares for and offers a good working environment, encouraging their development, training, and reconciliation measures, and favouring equality of opportunity. Therefore, the Company work to obtain, promote, and retain talent and to encourage the personal and professional growth of all persons within its workforce, making them participants in its successful business enterprise and guaranteeing them a dignified and safe job.

The inter-relation of the Company with its employees follows the following principles:

  • respect the human and labour rights recognized by domestic and international laws and, in particular, those the violation of which degrades the workforce, which entails the opposition to child labour and to forced or compulsory labour, and respect the freedom of association and of collective bargaining as well as the rights of ethnic minorities in the countries where the Company does business;
  • recruit, select, and retain talent within a favourable employment relationships framework, based on equality of opportunity, non-discrimination, and the consideration for diversity in all its variables, facilitating measures for the integration of disadvantaged groups and groups with various abilities, and for reconciliation of personal and working life;
  • recognize and value family and personal connections among the professionals of the Company, a necessary consequence of its strong local roots within the communities in which it has historically done business, and establish measures ensuring that employees with such connection are not favoured or discriminated against in hiring and promotion;
  • promote the training and qualification of workforce, favouring professional promotion and adapting human resources to a diverse and multicultural work environment;
  • ensure a safe and healthy working environment within the Company and in its spheres of influence.

The Company works to know the needs and expectations of their customers in order to offer them the best solutions, continuously working to care for and increase their satisfaction, strengthening their connection to the Company, and promoting responsible consumption, and therefore assume the following principles of conduct:

  • obey and comply with the rules governing communication and marketing activities and accept the voluntary codes that provide transparency and truthfulness to such activities;
  • see to the protection of the health and safety of its customers in all of the life cycles of the products it sells, by complying with the law applicable in each case;
  • provide information to its customers allowing for a more rational, efficient, and safe use of coal in the countries in which it sells its products;
  • pursue continuous improvement of the quality of supply in the various countries in which it operates;
  • monitor the quality of the service provided to its customers, through surveys measuring their satisfaction, and through customer goods and service.

It is essential to ensure that all participants in the value chain of the Company respond to and accommodate generally accepted ethical and social responsibility principles, in addition to applicable laws.

Therefore, the principles of conduct are:

  • adopt responsible practices in the management of the supply chain;
  • cause all participants in the value chain to comply with the principles and values set forth in the Policies and Standards regarding business ethics and transparent management, labour practices, health and safety, the environment, the quality and safety of the products and services sold, and development of responsible practices in the supply chain, promoting strict respect for the human and labour rights recognized in domestic and international law, in performing its activities.