Codelco said it had taken the top spot on the "Ranking of Transparency 2017 of Public Companies and State Companies" compiled by Chile's Council for Transparency.
The council evaluated the information available to the public on the Codelco website, including financial statements, reports, details of its subsidiary or associated companies and the composition of its board of directors. The webpage also reveals the salaries of the directors.
"At Codelco we have imposed a variety of demanding reforms that aim to incorporate a corporate culture of transparency, equal opportunities and good practices, and we will continue to look for opportunities for improvement in these areas," Codelco CEO Nelson Pizarro said in a release.
Over the last two years, the copper company has implemented additional policies and procedures regarding conflicts of interests and corporate standards. Codelco also addressed issues of cronyism, lobbying and risk management. These new policies were also implemented in its related companies and subsidiaries.
In addition to its internal changes to promote transparency, Codelco launched a website that informs the public of issues related to environmental concerns, water usage and the company's human resources management.