Press release
On July 8, 2024, Hot Chili Ltd. (“HC”) made an announcement regarding the incorporation of a new company “Aguas para el Huasco SpA” (“Huasco Water”). With respect to this announcement, Compañía Minera del Pacífico (“CMP”) clarifies that this new company was formed as part of a corporate restructuring process, whose sole purpose was to rationalize its assets by separating the mining and water assets of “Sociedad Minera El Águila SpA” (“SMEA”), a company of HC and CMP in a proportion of 80% and 20% respectively. The restructuring process consisted of the creation of this new spin-off entity, Huasco Water, to which certain water assets were assigned, while SMEA retained the mining assets.
In relation to the above, CMP clarifies that there is no current business plan involving any of its own operations and the newly created Huasco Water vehicle.