Could you provide us with an update on TAKRAF Chile’s activities?

2024 was exceptional for TAKRAF Group in Chile and Peru, securing economically, environmentally, and strategically critical projects. We are involved in one of the world’s largest tailings concentration projects. While TAKRAF has been known for material handling, our DELKOR liquid-solid separation technologies are now gaining prominence, strengthening our leadership in mining and environmental management. Could you elaborate on the benefits of TAKRAF Group’s technologies?

We offer technologies to handle and process minerals, with responsible tailings management a top priority. While paste tailings exist, Dry Stack Tailings (DST) are emerging as the most viable solution, and we have successfully integrated DST systems in Brazil. Combining material handling with liquid-solid separation lets us deliver integrated solutions. We are expanding product lines like filter presses and investing in technology to make waste management economically viable. How is the trend of declining ore grades impacting mining operations?

Lower ore grades mean that more material must be processed to extract the same amount of metal, which in turn increases the need for crushing, material handling and all related processes. Addressing this requires maximizing throughput with minimal capital investment. Many opportunities are emerging in the area of system upgrades and retrofits, where new technology enables the use of existing infrastructure with enhanced capacity by increasing speeds and installed power. However, ultimately, everything needs to get bigger. What initiatives has TAKRAF Group implemented in Chile to address the workforce shortages?

We have developed a wide range of programs focused particularly on attracting young talent. Beyond offering specific benefits, we highly value workplace flexibility. Our hybrid work model has been extremely well-received internally. Surveys show that flexibility is one of the most appreciated benefits among our employees. Externally, industry associations like APRIMIN have done tremendous work improving the image of mining in society, which supports our internal attraction and retention efforts. Over the last two years, we have increased our workforce by 150%, with a strong focus on professional development and training. Are there opportunities for TAKRAF Group to expand beyond Chile?

As TAKRAF Group in South America, we have offices in Chile, Peru, and Brazil. We are closely monitoring Argentina for its investment potential and seeking early-stage involvement in high-feasibility projects. Additionally, medium-sized mining opportunities are growing across South America, including Chile. There is a consensus that large new deposits like Escondida are rare, but the development of multiple medium-sized mines, possibly centralized around shared plants or infrastructure, offers a significant opportunity. TAKRAF Group has a strong advantage here, with our systems capable of integrating operations across multiple pits in a cost-effective manner. What challenges do you foresee in Chile and the broader mining industry?

Our clients will not be able to move at the pace that the market demands without deep reforms to the permitting system. Projects cannot afford to take 10 or 15 years to develop. This affects project feasibility, as delays dramatically impact NPV. In the supplier sector, a major challenge is the need for greater synergy among different players. Could you comment on how TAKRAF Group supports sustainability through its products and technologies?

Our DST systems can recover over 94% of water, reducing environmental impact, while also significantly increasing safety. Our conveyor systems replace mobile equipment, contributing to mine electrification and reducing emissions. TAKRAF Group has pioneered numerous In-Pit Crushing & Conveying (IPCC) systems, bringing crushers closer to extracted material, reducing haulage needs, and improving energy efficiency. We are also advancing technologies such as our new generation BQR flotation cells, which boast higher recovery rates and lower energy consumption. These have already proven their worth in gold and nickel in Australia and PGMs in South Africa. What are TAKRAF Group's growth plans looking toward the future, especially with the 300th anniversary approaching?

TAKRAF 300 is the name of our overall Group strategy that coincides with our 300th anniversary. Our growth strategy is ambitious, and we aim to increase our best-in-class position for several technologies that we provide. While there may be short-term volatility, the long-term fundamentals are strong. Our focus is on sustainable, planned growth in line with market realities, recognizing that mining is a marathon, not a sprint.