Could you provide an update on Codelco's operations over the past year?

Throughout 2022 and 2023, we have continued advancing in our strategy to redevelop our largest mines, positioning them to continue contributing to Chile over the next 50 years. Due to the complexity and magnitude of these projects, particularly in the context of a challenging local and global environment, these initiatives have suffered from implementation delays.

These delays have generated greater demands on our current operations, leading to little flexibility and assets with greater maintenance needs, resulting in operational discontinuities and treatment of lower-quality minerals in terms of copper content and by-products.

To face this transitionary situation, we are focused on prioritizing projects that will benefit production, complying with mining development plans and ramping up structural projects. How does Codelco achieve efficient water management?

Our goal is to reduce our consumption of continental water by 60% per ton of treated ore by 2030. We are steadily advancing with three specific measures: innovative solutions to improve process efficiency, a contract for the construction of a desalination plant for the Chuquicamata, Ministro Hales, and Radomiro Tomic divisions of the Northern District, and the latest generation of water recirculation from tailings deposits.

We have already defined a new Water Resources Strategy 2035, whose objective is to take care of the basins identified as water-stressed by the authorities. In these areas, we will only use natural brackish continental waters and water reutilized from mining activities. Fresh water will remain at the complete disposal of the communities. How does Codelco plan to support lithium production growth in the country?

It is a tremendous responsibility to contribute to developing two minerals considered critical for the global energy transition. We will be a strategic company in the fight against climate change that demands more and more copper and lithium, which means that the world's eyes will be watching us.

We have the skills and experience in mining, commercial, legal, and financial matters, as well as a strong appetite to be a leader in the mining of the future. We will focus on ensuring that Chile grows in production and recovers its position as one of the largest lithium producers, ensuring that the State benefits from this cycle of high prices. Could you discuss steps toward the company's 2050 decarbonization goals?

To advance our 2050 decarbonization goal, we have developed agreements for 100% renewable energy supplies with our existing energy suppliers. These renegotiations have made it possible to guarantee 70% decarbonization of our energy matrix by 2026, and we will continue in this line to achieve 100% clean energy by 2030.

In addition, we are advancing to incorporate 100% electric equipment for underground mines by 2030, and participating in initiatives to develop green hydrogen.

Likewise, as we promote the reduction of the carbon footprint of our suppliers. Together with the Alta Ley Corporation, the Association of Industrial Mining Suppliers (APRIMIN), and the National Mining Society (SONAMI), we developed www.huellaminera.cl, a platform to measure the emissions associated with inputs and products we receive from providers. What technological innovations are you incorporating into your processes?

We have incorporated automated drilling, loading, and mineral transport machinery. For example, in the El Teniente Division, we have complete fleets of remotely controlled equipment, such as crushers and automated trucks, which are operated from the Integrated Operations Center (CIO) in Rancagua, 50 km from the mine. How does Codelco support development in the local communities?

Among other activities, we have a program to attract and develop local suppliers and modify our internal supply regulations based on best practices to encourage local purchasing. "Together we act locally" allowed us to reach a record figure of US$248 million in local purchases in 2022.

Our new territorial strategy also promotes local labor. Our "Together we play local" program strengthens employability through job fairs, intermediation with contractor companies, and links to municipal employment offices.

To contribute to the education and formation of human capital, we developed the "Together We Learn Local" program with 12 educational establishments in our area of influence to improve students' academic results.

Finally, through our "Together We Are Local Water" initiative, we support agreements between communities and their respective municipal hydraulic works areas to improve the infrastructure of rural drinking water systems.