Inversiones Alxar S.A.

Inversiones Alxar S.A. is a mining company under Empresas Copec, focusing on managing mining assets in Chile and Peru. The company is involved in the exploration and exploitation of mining projects, emphasizing responsible and sustainable practices. In Peru, Alxar holds a 40% stake in Marcobre S.A.C., the operator of the Mina Justa copper mine, with Minsur S.A. owning the remaining 60%. This partnership was established in 2018, with Alxar investing approximately US$200 million in the project. The Mina Justa mine commenced commercial production in the third quarter of 2021, marking a significant milestone in Alxar's mining operations. In October 2023, Alxar announced the Justa Subterránea project, an expansion of the Mina Justa mine, aiming to increase copper reserves by 30% and extend the mine's operational life by five years. This expansion is expected to require an investment of approximately US$400 million and is projected to begin production in 2027. Alxar's strategic focus on sustainable mining practices and its partnership with Empresas Copec and Minsur S.A. underscore its commitment to responsible resource development in the region.

Alxar's operations are guided by a commitment to excellence, responsibility, and sustainability. The company prioritizes the safety of its workers, environmental stewardship, and the creation of value for the communities in which it operates. These principles are outlined in their Code of Ethics and Conduct, which emphasizes transparency, trust, and a culture of safety and self-care. The company's dedication to these values is evident in its long-term vision for the mining industry, aiming to be a significant contributor to the future development of the sector. Alxar's approach reflects a holistic view of mining, integrating economic, social, and environmental considerations to ensure sustainable growth and positive community impact.

Through its strategic investments and ethical framework, Alxar continues to play a pivotal role in the mining industry, particularly in Peru and Chile. The company's focus on sustainable development and responsible mining practices positions it as a key player in the region's economic and industrial landscape. Alxar's ongoing projects and future plans demonstrate its commitment to innovation, community engagement, and environmental responsibility, ensuring that its mining operations contribute positively to the broader societal and economic context.