It is known that companies manage their stakeholders and their social and environmental impacts to achieve a good relationship with the community. Therefore, this research aims to know the strategies used by mining companies when different levels of stakeholder management and social and environmental impact management variables are involved. For this purpose, qualitative research with case study methodology is carried out, collecting information from various sources such as interviews, document analysis, and audio‐visual material. The result shows a framework based on the literature review and where different scenarios are shown according to the degree of the variables studied and the strategies used. Four main corporate strategies were found: sustainable, legalistic, business‐oriented, and compensating.