PUCOBRE
ESSENTIAL FACT
PUNTA DEL COBRE SOCIETY S.A.
REGISTRATION IN THE SECURITIES REGISTRY NO. 0362
Santiago, April 24, 2023
ACC- 010/2023
Mrs.
Solange Berstein Jáuregui
Financial Market Commission
Av. Liberator Bernardo O’Higgins Nº 1449
Santiago.
From our consideration:
By virtue of the provisions of Articles 9 and 10 of Law 18,045, and General Rule No. 930 of the Commission for the Financial Market, being duly empowered to do so, I inform you as an essential fact of Sociedad Punta del Cobre S.A. (“Pucobre”), the following:
+ On April 24, 2023, Pucobre entered into an agreement with Fondo de Inversión el Espino (“FIEE”), called “Framework Agreement” (“Framework Agreement”) to sign final agreements that allow the joint development of the “El Espino” copper mining project. The foregoing, through the formation of a company, in which Pucobre will contribute assets and funds for the equivalent of US$ 290 million and will have a 76.32% stake, and FIEE will contribute funds for US$ 90 million and will have a 23.68% stake (the “Project”).
+ The Project is located in the Coquimbo Region and will be an open pit mine that will produce copper concentrate with an average of 26,000 tons of fine copper per year.
+ The final agreements and the execution of the Project are subject to the fulfillment of customary conditions for this type of transactions, including:
(1) obtaining critical permits for the development of the Project that are in process and still pending at this date;
(ii) obtaining financing for the Project from local or international financial entities in amounts of US$ 300 to 400 million; and
(iii) obtaining approval from the National Economic Prosecutor’s Office, if required in accordance with applicable regulations.
If the final agreements are signed, there are no effects on Pucobre’s 2023 results.
As of this date, Resource Capital Fund VII L.P (“RCF VII”) is the sole contributor to FIEE. RCF VII, meanwhile, is administered by RCF Management, LLC (“RCFM”). RCFM is a private equity manager focused on the mining and metal industries, with more than 25 years of mining experience. It has raised nearly $5 billion of deployed capital in nearly 225 investments worldwide. It has an experienced technical team in geology, construction, mining operations and mining financing. It has offices in Denver, Santiago, Perth, New York, Toronto and London.
Sincerely yours,
Sebastian Rios Rivas (24 Apr 2023 19:55 EDT)
Sebastian R. Rios
General Manager
Sociedad Punta del Cobre S.A.
Dc. Santiago Stock Exchange
Electronic Stock Exchange of Chile
Archive
Av. El Bosque Sur 130 – piso 14 – Las Condes, Santiago Phone: (56) 22666 9860
www.pucobre.cl
Link to file in CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=99fde00ea405c58fa78bb41c3d7df7f2VFdwQmVVMTZRVEJOUkVVelRsUnJORTFuUFQwPQ==&secuencia=-1&t=1682401141
