Investors
Santiago, November 30, 2023. Pampa Camarones, a mining company controlled by Minería Activa, successfully completed the listing of its ownership via ScaleX, the financial market for startups promoted by the Santiago Stock Exchange and Corfo, operating under the infrastructure provided by the Depósito Central de Valores (DCV). Following its listing on the Santiago Stock Exchange at the end of August, and the development of a roadshow with investors during October and November, it opened its order book on Wednesday, November 29, between 9:30 a.m. and 4:00 p.m., resuming the operation that had been suspended at the end of last month due to market volatility following the outbreak of the Palestinian-Israeli conflict and the approval of the Environmental Impact Statement (DIA) allowing the mining company to increase its monthly production of copper cathodes by over 40%.
The process concluded today with the placement on the Santiago Stock Exchange of 7.2% of the company’s ownership in a total of 118,565 shares at a price of US$42.8 per share, resulting in a fundraising of US$5.1 million.
The transaction was deemed successful by LarrainVial Corredora de Bolsa, the placing agent and sponsor, which highlighted the entry of international institutional investors into the mining company’s ownership.
Andrés Trivelli, CEO of LarrainVial Corredora de Bolsa, stated: “We are very excited about the interest shown not only by local investors but also international ones in Pampa Camarones, a company with very interesting mining potential, in a size suitable for the Chilean market. It will be the second mining company to be listed on the stock exchange, and we hope it won’t be the last.” Additionally, the executive highlighted that “this successful operation opens up an important space for accessing financing for medium-sized mining projects, as well as other sectors of the economy.”
Use of Funds
With the US$5 million raised from this operation, the first stage of an exploration campaign will be carried out at the Pampa Camarones copper deposit – located in the Arica and Parinacota Region – to find 4 million tons of reserves, extending the company’s lifespan until 2036. Additionally, the mining ownership of Ciclón-Exploradora, a high-grade polymetallic project located in the Taltal commune, will be consolidated, and an exploration campaign will be carried out.
About Pampa Camarones:
Pampa Camarones is the first copper operation developed in the Arica and Parinacota Region. The entire operation runs 100% on seawater and renewable energy from a photovoltaic plant, with an annual production capacity of 8,400 tons per year of cathode copper. In 2016, Minería Activa took control of the company’s management to restart its operations in 2019. Additionally, in 2022, through a reorganization, Pampa Camarones SpA took full ownership of the Ciclón-Exploradora project.
About Minería Activa:
Minería Activa is a partnership between Activa Alternative Assets, the private equity arm of LarrainVial, and a team of managing partners with extensive and recognized experience in the mining industry. For over 15 years, the company has been dedicated to the development of mining projects at all stages, from early exploration to production, always aiming to contribute to the energy transition through the development of sustainable mining projects.
