ANNUAL REPORT 2015 Subsidiaries & affiliates INDEX Chairmen’s statement President & CEO’s review Organisation Corporate profile Divisions Highlights Mineral resources & reserves Exploration Mining Research & technology companies Investment & projects Investment companies Trading companies Innovation & technology Electricity companies Port companies Results & market Processing plants Health and pensions companies People & sustainability New uses of copper and molybdenum Companies network chart RedCompany de empresas network Network Financial statements 117 Memoria CODELCO ÍNDICE MEMORIA Subsidiaries & affiliates ANUAL Company network 2015 Agua de la Falda S.A. General Manager: Felipe Núñez Cordero Mining As of December 31, 2015 Ownership interest and changes during the reporting period Codelco directly holds a 43.28% ownership interest. Investment companies Legal status There were no changes during the reporting period. RUT: 96.801.450-1 Electricity companies Trade Name: Agua de la Falda S.A. Business relationship with Codelco Public Limited Company. No goods or services were sold or purchased, except for existing contracts between Incorporation date: July 25, 1996. the Company and Codelco. Processing plants Partners: Codelco 43.28% and Minera Meridian Limitada 56.72%. Contracts with Codelco New uses of copper and molybdenum Subscribed and paid-in capital by partners The company has contracts with Codelco for the following services: fresh water, US$ 39,400,000 industrial water and electricity supply, and a lease contract. Research & technology companies Company purpose Prospecting, exploration and production of mining properties containing gold, precious Trading companies metals and other metals; and any marketing related to these metals. Anglo American Sur S.A. As of December 31, 2015 Directors Port companies Roberto Alarcón Bittner, Chairman Legal status Charles Bruce Main RUT: 77.762.940-9 Health and pensions companies Gerardo Fernández Tobar Trade Name: Anglo American Sur S.A. Enrique Tarifeño Urquieta (*) Public Limited Company. Diego Brieba Vial (*) Incorporation date: July 31, 2007. Partners: Inversiones Anglo American Sur S.A. 50.05992%; Clarent SÀRL 0.00008%; Alternate Directors Inversiones Mineras Becrux SpA 29.5% and MC Resource Development Ltd. 20.44%. Andrés Guzmán Bozque Sergio Orrego Flory Subscribed and paid-up capital by Codelco Nibaldo Rojas Ángel US$ 248,147,000 Jorge Skarmeta Magri (*) Esperanza Letelier Urcelay (*) *Directores o ejecutivos de Codelco. 118 Memoria CODELCO ÍNDICE MEMORIA Subsidiaries & affiliates ANUAL Company network 2015 Company purpose Business relationship with Codelco Mining Its main business activity is exploration, extraction, mining, production, processing and The company sells anodes, cathodes and concentrate. marketing of minerals, concentrates, precipitates, copper bars and any other metallic or non-metallic mineral substances, and in general, any fossil substance and gaseous Contracts with Codelco Investment companies or liquid hydrocarbon, in any naturally occurring form, including exploration, mining Sales contracts for anodes, cathodes and concentrate through Inversiones Mineras and use of any natural energy source susceptible for industrial use and products or Nueva Acrux SpA. Electricity companies by-products obtain therefrom and, in general, it also carries out any other related and complementary activities approved by its Shareholders. Processing plants Directors Cobrex Prospecçao Mineral S.A. Duncan Wanblad, Chairman As of December 31, 2015 New uses of copper and molybdenum Hennie Faul Juan Carlos Román Legal status Tetsu Kotaki Research & technology companies Trade Name: Cobrex Prospecçao Mineral S.A. José Pesce Rosenthal (*) Public Limited Company (Brazil). Incorporation Date: Brazil, January 14, 2013. Trading companies Alternate Directors Company Registration No. 33.3.0030616-1 Board of Trade R.J. Richard Leclerc Partners: Codelco do Brasil Mineração Ltda. 51% and Xstrata do Brasil Exploração Felipe Purcell Douds Port companies Mineral Ltda. 49%. Alejandro Mena Frau Hideyuki Takemura Subscribed and paid-Up capital Health and pensions companies Alejandro Rivera (*) Subscribed Capital: US$ 12,000,000. Paid Capital: US$ 4,460,000. Vice President Los Bronces operations: Christian Thiele Codelco do Brasil Mineração Ltda.: 20.18% subscribed and paid capital, and 30.82% subscribed and unpaid capital. General Manager El Soldado and Chagres: Pedro Reyes Xstrata do Brasil Exploração Mineral Ltda.: 49% subscribed and paid capital. Ownership interest and changes during the reporting period Company purpose Codelco indirectly holds a 20% ownership interest. i) Ownership interest in any kind of mining company or joint venture, in Brazil and/ There were no changes during the reporting period. or abroad, and manage own or third-party assets. ii) Carry out any activity related to mining, including, but not limited to research, exploration and mining economic resources and/or ore deposits in Brazil. *Directores o ejecutivos de Codelco. 119 Memoria CODELCO ÍNDICE MEMORIA Subsidiaries & affiliates ANUAL Company network 2015 iii) Carry out, in general, any other civil or commercial activity directly or indirectly Company purpose Mining related to research, exploration, economic extraction, production or marketing mineral i) Ownership interest in any kind of mining company or joint venture, in Brazil and/ products or by-products. or abroad, and manage own or third-party assets. ii) Carry out any activity related to mining, including, but not limited to research, Investment companies Directors exploration and mining economic resources and/or ore deposits in Brazil. Marcos Gonçalves (*), Chairman iii) Carry out, in general, any other civil or commercial activity directly or indirectly Electricity companies Humberto Eustáquio (*) related to research, exploration, economic extraction, production or marketing mineral General Manager: products or by-products. Marcos Gonçalves (*) Processing plants Directors Ownership interest and changes during the reporting period Francisco Fernández New uses of copper and molybdenum Codelco indirectly holds a 51% ownership interest. Cristian Quinzio There were no changes during the reporting period. Paula Aguirre Research & technology companies Business relationship with Codelco Alternate Directors No business relations between the companies, except as a subsidiary of a Codelco Roberto Fréraut Trading companies subsidiary. Diego Brieba Vacant Port companies Contracts with Codelco No contracts or activities that significantly influenced Codelco’s operations or results General Manager: Marcos Gonçalves Health and pensions companies Ownership interest and changes during the reporting period. Codelco Do Brasil Mineraçao Ltda. Codelco directly and indirectly holds 100% ownership interest. There were no changes As of December 31, 2015 during the reporting period. Business relationship with Codelco No business relations between the companies, except as a subsidiary of a Codelco Legal status subsidiary. Trade Name: Codelco do Brasil Mineraçao Limitada. Limited Liability Company (Brazil). Contracts with Codelco Incorporation Date: Brazil, September 14, 2001. No contracts or activities that significantly influenced Codelco’s operations or results. Registration No. 33.2.0708361-1. Board of Trade R.J. Partners: Codelco International Limited 90% and Codelco Technologies Limited 10%. *Directores o ejecutivos de Codelco. 120 Memoria CODELCO ÍNDICE MEMORIA Subsidiaries & affiliates ANUAL Company network 2015 Compañía Contractual Minera Los Andes, CCMLA Business relationship with Codelco Mining Its own exploration activities have been temporarily stopped. Survey work was carried As of December 31, 2015 out on its properties through contracts with other companies, under option contracts to form a public limited company. During the reporting period, Codelco, at its own Investment companies Legal status expense, paid for maintenance of the mining property, these expenses have been RUT: 78.860.780-6 entered in an account for both companies. Electricity companies Trade Name: Compañía Contractual Minera Los Andes (CCMLA). Contract Mining Company. Its deposits Queen Elizabeth (Rio Tinto Mining and Exploration Limited/Agency in Chile), Incorporation Date: May 16, 1996, Registration No. 273. Notary’s Office: M. Gloria and Plazuela (Sociedad Minera El Águila Limitada) are currently under exploration by Processing plants Acharán Toledo. Listed on page 117 in 1996, in the Property Registry and on page the abovementioned companies. 9550, in the Shareholders’ Book of the Santiago Mining Registrar. New uses of copper and molybdenum Partners: Codelco 99.97% and CM Picacho 0.03%. Activities were completed and the relevant option contracts were terminated: Sociedad Minera El Águila Limitada was at Los Lobos deposit, Minera MMX de Chile S.A. at Subscribed and paid-Up capital Research & technology companies Desierto deposit, Rio Tinto Mining and Exploration Lim-ited/Agency in Chile at Pasaca US$ 17,655,000. deposit, Minera Aurex at the Catiña deposit, Chinalco Yunnan Copper Chile at Sulphate deposit and Antofagasta Minerals S.A. at Sierra Jardín deposit. Trading companies Company purpose Geological and other types of exploration to discover and survey ore bodies in Chile Contracts with Codelco or in another country. Port companies Framework contract, in force since 2014, for exploration. Directors Health and pensions companies Roberto Fréraut Contreras, Chairman (*) Cristian Quinzio Santelices