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SOCIEDAD
CONTRACTUAL MINERA EL ABRA
31 December 2003
Legal Status
The company was created through a certified document
on 28 June 1994, duly witnessed by the Santiago notary,
Mr. Víctor Manuel Correa Valenzuela.
The company's legal name is "Sociedad Contractual
Minera El Abra"1.
The Sociedad Contractual Minera El Abra is a contractual
mining company established under the regulations included
in articles two hundred one and thereafter in the Republic
of Chile's Mining Code.
Capital subscribed and paid in
The Capital subscribed and paid in amounts to US$647,059,000
divided into 100,000 shares. The shareholders are "Cyprus
El Abra Corporation", with 51,000 shares, and the
"Corporación Nacional del Cobre de Chile",
with 49,000 shares.
Purpose
The purpose of this company is to prospect for, explore
and exploit the ore deposit known as El Abra, located
in the Second Region of Antofagasta, in its full extension,
along with others adjoining or nearby; extracting, and
processing the ore obtained from exploiting the properties
that make up this ore body and surrounding areas; and
transporting and selling products and byproducts from
processing ores and other activities involved in exploiting
the deposit. To comply with this objective, the company
can build and operate production and processing plants
and facilities, claim mining ownership or acquire it,
as well as carry out all kinds of operations related
to same. The company can carry out any actions and celebrate
any contracts and conventions that directly or indirectly
contribute to meeting this objective2.
Board of Directors
Directors:
Harry M. Conger, President of the Board of Directors
Members:
Timothy Snider, Cyprus El Abra Corporation
Jorge Riquelme, Cyprus El Abra Corporation
Juan Eduardo Herrera, Codelco (*)
Juan Enrique Morales, Codelco (*)
Executives: Miguel Munizaga Badilla, President and
General Manager
David Miranda, General Manager of Operations
Douglas Comer, Manager of Administration
Mariano Neira Sáenz, Comptroller
Codelco's share of capital and changes during the fiscal
year
Codelco's share is 49%, which has not changed since
the company was set up.
Commercial relations with Codelco
The main business in common involves El Abra selling
Codelco its cathodes, with the annual amount established
in a sales agreement, which specifies that 49% of production
not committed to third parties through contract goes
to Codelco and this amount cannot be less than 30,000
metric tons.
Moreover, Codelco sells El Abra sulfuric acid, with
both price and amounts established through annual negotiations.
Contracts with Codelco
The copper sales agreement is covered by a "Marketing
Agreement", signed on 15 June 1995, between Sociedad
Contractual Minera El Abra and Codelco Services Ltd.
This agreement expires on 1 January 2012 and can be
automatically renewed on an annual basis.
Contracts for the sale of sulfuric acid exist, which
expire in 2006.
Investment as a percentage of total head office
2003 Investment in jointly held firm US$88.564 million
2002 Investment in jointly held firm US$52.431 million
Total investment as a percentage of head office assets
1.0945%, 2003.
1 This paragraph and
the following one quote the first and second Articles
from the First Section of this company's statutes.
2 The third Article of the First Section of the incorporation
papers.
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| AGUA
DE LA FALDA S.A.
31 December 2003
Legal Status
Agua de la Falda SA. (the company) was set up using
a certified document dated 25 July 1996, as a private
limited company, whose shareholders are the Corporación
Nacional del Cobre de Chile (Codelco) with 49% and Minera
Homestake Chile SA with 51%.
Company name: Agua de la Falda SA
RUT: 96.801.450-1
Address: Barrio Industrial, sitio 58, Alto Peñuelas,
Coquimbo
Capital subscribed and paid in
Capital subscribed and paid in by Codelco: US$17,052,000
Purpose
The purpose of the company is to prospect, explore for
and exploit mining properties containing gold, other
precious and other metals, and their sale, in any form.
Board of Directors
Series A Members: Nicolás Saric Rendic (*)
Edmundo Tulcanaza Navarro (*)
Alternate Series A Board Members:
Rene Muga Escobar (*)
Francisco Camus Infanta (*)
Series B Board Members: Sergio
Chávez Jofre
Raymond W. Threlkeld
David L. Deisley
Alternate Series B Board Members:
Kevin Atkinson Tear
Alejandro Labbe Saffa
Brett M. Sherlock
Executives
General Manager: Felipe Núñez Cordero
Codelco's share of capital and
changes during the fiscal year
Codelco's share, 49%.
Commercial relations with Codelco
There were no non-contract sales or purchases of goods
and services outside of contracts, between the company
and Codelco.
Contracts with Codelco
The company maintains a contract with Codelco for the
following services:
• Fresh water supply.
• Industrial water supply.
• Electric power supply.
• Rental contract.
• Telecommunications service contract.
• Provision of laboratory analysis services.
Investment as a percentage of
the head company:
2003 Investment in jointly held firm US$4.557 million
2002 Investment in jointly held firm US$5.987 million
Investment as a percentage of head office assets 0.056%,
2003.
(*) Codelco executive or board
member. |
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COMPAÑÍA
CONTRACTUAL MINERA LOS ANDES, CCMLA
31 December 2003
Legal Status
Company name: Compañía Contractual Minera
Los Andes
(CCMLA)
RUT: 78.860.780-6
Company created 16 May 1996
Repertory N°273
Notary M. Gloria Acharán Toledo
Capital subscribed
and paid in
Capital subscribed and paid in by Codelco 15,215,354
shares
(99.97%), worth 8,080,290,023 pesos, corrected monetarily
through 31/12/2003 and Minera Picacho 5,100 shares (0.03%),
worth 2,723,184 pesos, corrected monetarily through
31/12/2003.
Purpose
Geological or other explorations whose purpose is to
discover and reconnoiter ore deposits in the country
or abroad. Exploration activities temporarily suspended.
Board of Directors
Waldo Fortin Cabezas, President (*)
Mario Espinoza Durán (*)
Alex Acosta Maluenda (*)
Francisco Camus Infanta (*)
Nicolás Saric Rendic (*)
General Manager
Nicolás Saric Rendic (*)
Codelco's share of capital and changes during the fiscal
year
Codelco's share is 99.97%; there were no changes in
its equity in 2003.
Commercial relations with Codelco
There were no commercial relations.
Contracts with
Codelco
There were no contracts that played a substantial role
in Codelco's operations.
Investment as a percentage of
total head office assets
2003 Investment in subsidiary US$0.
2002 Investment in subsidiary US$0.
Investment as a percentage of head office assets 0%,
2003.
(*) Codelco executive or board
member.
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ELECTROANDINA
S.A.
31 December 2003
Legal Status
ELECTROANDINA SA
RUT: 96.731.500-1
Public limited company
Capital subscribed and paid in
Capital subscribed and paid in by Codelco 70,291,170,536
pesos
Purpose
To generate and transmit electric energy and provide
port services involving industrial maintenance of transmission
systems, as well as consulting and industrial training
services. The company is the main electrical power generator
in the SING, representing about 30% of its power generation.
Its activities began in 1915 along with the activities
of the Chuquicamata mine.
In 1995, Codelco created the Electroandina company (ex-Central
Termoelectrica Tocopilla SA) based on its Tocopilla
Division and it sold a controlling interest to the Belgian
electric firm, Tractebel, at international auction in
1996.
Board of Directors
Jan Flachet
Manlio Alessi Remedi
Henk Bataille
Patrick Obyn
Gabriel Marcuz
Manuel Colcombet
Jacqueline Saintard Vera
Jorge Navarrete Martínez (*)
Marcelo Mobarec Asfura (*)
Reinaldo Sapag Chain
Ricardo Campano Gándara (*)
General Manager
Willem Van Twembeke
Codelco's share of capital and changes during the fiscal
year
34.8%. No change.
Commercial relations with Codelco
The following commercial relations exist between Electroandina
SA and Codelco:
Contracts with Codelco
The company maintains a contract with Codelco for the
following services:
1. Contract for electric power supply, Codelco Norte
Division
2. Contract for electric power supply, Sociedad Contractual
Minera El Abra
3. Contract for electric power supply, Alliance Copper
Limited (ACL)
4. Contract for natural gas supply between DISTRINOR
SA (A subsidiary of Electroandina SA) and Codelco Norte
Division.
5. Contract for "Service Contract for Providing
Reception, Storage and Loading of Sulfuric Acid,"
between Electroandina and Codelco Chile.
6. Contract for "Sale of Bituminous Coal"
between Electroandina and Codelco Norte.
Contracts with Codelco
The contracts for electric supply of the Codelco Norte
Division and the jointly owned companies Minera El Abra
and ACL represent a significant part of operating costs
for each. The first two were signed in 1995 in normal
market conditions; they expire in 2009 and 2017, respectively.
The second two were auctioned with the participation
of third parties.
Other contracts don't play a major role in Codelco's
operations or its results.
Investment as a percentage of
the head company
2003 Investment in jointly held firm US$89.407 million
2002 Investment in jointly held firm US$41.133 million
Investment as a percentage of head office assets 1.1%,
2003
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ELABORADORA
DE COBRE CHILENA LIMITADA
31 December 2003
Legal Status
Company name: Elaboradora de Cobre Chilena Limitada
RUT: 79.681.920-0
Company created: 18 December 1995
Notary: María Gloria Acharán Toledo
Inscription fs. 20,932 N° 10,784 in Santiago's commercial
registry (Registro del Comercio de Santiago), 1995
Capital subscribed and paid in
Capital subscribed and paid in as of 31 December 2003
was 687,711,520 pesos.
Purpose
Originally set up in 1995 by Codelco and Madeco SA as
a limited liability company whose purpose was to study
and develop projects and investment in producing and
selling manufactured and semi-manufactured non-ferrous
metals, whether directly or in association with third
parties.
Through a certified document signed 17 April 1998,
the company changed its share structure, with Madeco
SA withdrawing and Codelco-Chile taking a 99% interest
in the firm, and Minera Picacho holding 1%.
Board of Directors
Mario Espinoza Durán, Director (*)
Carlos Urzúa Ramírez, Director (*)
Luis Blanco Beckett, Director (*)
General Manager
Jose Antonio Álvarez López
Codelco's share of capital and changes during the fiscal
year
Codelco's share is 99%.
The Compañía Minera Picacho SCM holds
1%.
Changes in 2003: There were no changes in share during
the year.
Commercial relations with Codelco
None.
Contracts with Codelco
There were no contracts that played a substantial role
in Codelco's operations.
Investment as a percentage of
head office assets
2003 Investment in subsidiary, US$0
2002 Investment in subsidiary, US$0
Investment as a percentage of head office assets 0.0%,
2003 |
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MINERA
PECOBRE S.A. OF C.V.
31 December 2003
Legal Status
Created on 21 June 1999 in Mexico City, DF, under the
name Minera Peñodelco, SA de C.V., as per minute
275,615, volume 10,293, before Notary No. 10 of the
DF, Tomás Lozano Molina. Modified on 7 October
1999, to include the Corporación Nacional del
Cobre de Chile. On 25 January 2000, an extraordinary
meeting of shareholders decided to change the company's
name to MINERA PECOBRE, SA de C.V.
Capital subscribed
and paid in (in Mexican pesos)
Fixed capital 100,000
Variable capital 199,277,400
Registered capital 199,377,400
Purpose
To explore for, develop and run copper deposits in the
State of Sonora, Mexico
Board of Directors
Jaime Lomelín Guillen, President
Octavio Alvídrez Cano
Mario Arreguín Frade
Juan Enrique Morales Jaramillo (*)
Alex Acosta Maluenda (*) Codelco's
share of capital and changes during the fiscal year
Codelco's share, 49%.
In 2003, Codelco contributed US$2.637.670, that is,
28,754,200 Mexican pesos.
Commercial relations with Codelco
Codelco provides Minera Pecobre with a range of services
in the field of explorations, mainly by assigning expert
professionals highly skilled in exploring for ore deposits
who, with Pecobre's projects in Mexico, carry out the
necessary activities involved in geological, geochemical
and geophysical explorations, as well as applying other
specialized techniques required to define the potential
interest of ore deposits in the regions under exploration.
In 2003, Codelco assigned exploration professionals
to the Cobre Sonora, Los Humos, Tecolote, Franja Cananea
and Otras Franjas projects. Contracts
with Codelco
Codelco has a contract in effect with Pecobre that in
2003 brought billing worth US$1,008,867 for exploration
services corresponding to the projects Cobre de Sonora
and Los Humos: in December 2002 for US$81,580; Los Humos
and Tecolote in January-April 2003, for US$77,180; and
Cobre de Sonora, Franja Cananea and Otras Franjas in
January - November 2003, for US$850,107.
Investment as a percentage of
head office total
2003 Investment in jointly held firm US$902 million
2002 Investment in jointly held firm US$559 million
Investment as a percentage of head office assets 0.01%,
2003
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CMS CHILE
S.A.
31 December 2003
Legal Status
Sistemas y Equipos Mineros SA is a private limited company
set up using a certified document dated 29 July 1992.
Capital subscribed
and paid in
The capital of CMS Chile is US$7,870,000 and consists
of 69,000 shares, which were fully subscribed and paid
in by Codelco (68,931 shares) and Bernardo Infante Philippi
(69 shares).
These shares have no nominal value.
Purpose
The purpose of this company is to manufacture, sell
and distribute in Chile and abroad, machinery equipment
and replacement parts; furthermore, through its subsidiary,
CMS Tecnología SA it provides maintenance and
repair services.
Board of Directors
Alex Acosta Maluenda, President Board of Directors (*)
Luis Blanco Beckett, Director (*)
Waldo Fortín Cabezas, Director (*)
Mario Espinoza Durán, Director (*)
Hernán Sepúlveda Astorga, Secretario (*)
General Manager
Víctor Olate Martínez
Codelco's share of capital and
changes during the fiscal year
Codelco Chile owns 100% of CMS Chile SA and there has
been no change in this share.
Commercial relations with Codelco
The company had no commercial activity in 2003 and is
not expected to have any in the future.
Contracts with Codelco
The company had no commercial activity in 2003.
Investment as a percentage of
the head office total 2003, 2002 and 2001 Investment
in subsidiary US$0 Investment as a percentage of head
office assets 0.0% 2003 |
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ASOCIACIÓN
GARANTIZADORA DE PENSIONES
31 December 2003
Legal Status
The Asociación Garantizadora of Pensiones is
a private corporation that serves as a non-profit social
benefits-mutual; it was legally constituted by Decree
N° 1625, 18 June 1927, to guarantee, by replacing
associated companies, the payment of pensions under
the occupational accident law, Ley de Accidentes del
Trabajo N° 4,055. Because it is non-profit, it is
exempted from income tax law regulations.
Purpose
Exclusively for the purpose of paying pensions under
the labor accidents law, Ley de Accidentes del Trabajo
N° 4,055.
Board of Directors
This is composed of the following people, appointed
by the majority affiliate, Codelco.
Board Members:
Carlos Urzúa R. (*)
Jose Antonio Álvarez L. (*)
Patricio Mac Niven S. (*)
Óscar Salgado W. (*)
Luis Blanco B. (*)
Alternate Board Members:
María Elena Brahms Z. (*)
Gloria Parada Z. (*)
Gustavo Sippa C. (*)
Manager: Celso Núñez
Salgado
Codelco's share of capital and
changes during the fiscal year
Percentage share 96.688338%, which has not changed in
recent fiscal years.
Commercial relations with Codelco
This association has no commercial links with Codelco.
Contracts with Codelco
This association has no commercial links with Codelco.
Percentage of total head office
investment
2003 Investment in subsidiary, US$695 million
2002 Investment in subsidiary, US$625 million
Investment as a percentage of head office assets 0.009%,
2003. |
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COMPLEJO
PORTUARIO MEJILLONES S.A.
31 December 2003
Legal Status
Complejo Portuario Mejillones SA
Private limited company
Capital subscribed
and paid in by Codelco
Capital subscribed: US$35,992,385
Capital paid in: US$34,332,702
Note: to calculate the capital
subscribed and paid in, the exchange rate on the date
of payment was used.
Purpose
The purpose of this company is to project, build and
run a port in Mejillones Bay, Second Region of Antofagasta.
CPM developed the project and
won the building and operation of Terminal 1 through
a 30-year concession contract granted to the Compañía
Portuaria Mejillones SA, a private consortium formed
by Ultramar and Empresa Constructora Belfi.
Directors
President of the Board of Directors: Roberto Souper
Rodríguez (*)
Vice-president: Jaime Gibson Aldunate
Director: Nelson Pizarro Contador (*)
Director: Eugenio Lahera Parada
Director: Iván Simunovic Petricio
General Manager: Jorge Taboada Rodríguez
Codelco's share of capital and
changes during the fiscal year
As of 31 December 2003: 99.90%
Commercial relations with Codelco
Codelco provides different kinds of services to CPM,
which are charged to its cost center. These include:
Accounting
• Transportation (air fares, commuting, etc.)
• Computer equipment, software, Internet access
and
e-mail
• Office rental.
For its part, CPM rents Codelco
offices in the Terminal 1 Administration Building.
Contracts with Codelco
• Codelco guarantee contract: this is a guarantee
signed by Codelco, the Complejo Portuario Mejillones
SA (the port complex) and the Compañía
Portuaria Mejillones SA (the port company), in which
Codelco guarantees the Compañía Portuaria
Mejillones SA payment of any and all sums that CPM owes
the port company as part of the contract to build port
facilities and provide port services in Terminal 1,
Mejillones (a BOT contract), signed by both, in the
event that CPM fails to do so.
• Contract for
providing port services for shipping copper, dated 15
November 1999 (CTA contract): This contract governs
the provision of port services (copper shipping and
others) that the Compañía Portuaria Mejillones
SA provides to Codelco. CPM has also signed this contract,
in its supervisory role.
• Contract in which CPM
rents offices to Codelco, in the Terminal 1 Administration
building, October 2003.
Investment as a percentage of
the head office total
2003 Investment in subsidiary, US$25.812 million
2002 Investment in subsidiary, US$19.485 million
Investment as a percentage of head office assets 0.32%,
2003. |
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GEOTÉRMICA
DEL NORTE S.A.
31 December 2003
Legal Status
Company name: Geotermica del Norte SA
RUT: 96.971.330-6
Company incorporation registry number (repertorio número)
13.010/2000
Notary: Jose Musalem Saffie
Start up: 5 December 2001
Capital subscribed
and paid in
Capital subscribed: 439,878,000 pesos
Capital paid in as of 31 December 2003, 2,121,881,640
pesos.
(Codelco's contribution)
Purpose
According to Article 4 of its incorporation papers,
the company's purpose is to:
"1) Research, explore for and run geothermal deposits
in the First, Second, and Third Regions of Chile; 2)
Sell, in any form, all products, byproducts, raw materials,
manufactured or semi-manufactured products, derived
directly or indirectly from the activities mentioned
in the previous section, and 3) The company can also
carry out other activities, directly or indirectly related
to the above that optimize company organization.
Board of Directors
Daniel Fernández Koprick - President
Ricardo Campano Gándara (*)
Carlos Rubilar Ottone (*)
Salvador Harambour Gines
Jose Luis Ramaciotti Frachia
General Manager
Patricio Lee Recabarren
Codelco's share of capital and
changes during the fiscal year
Codelco holds 50.1% of the company.
There were no changes in its share during the last period.
Commercial relations with Codelco
At the end of 2003, there were
no commercial relations between both companies.
Contracts with Codelco
At the end of 2003 there was one contract between both
firms, establishing the possibility of Codelco carrying
out certain tasks, upon request from the subsidiary
through work orders, which may or may not be accepted.
Investment as a percentage of
the head office total
2003 Investment in subsidiary, US$1.163 million
2002 Investment in subsidiary, US$0
Investment as a percentage of head office assets 0,014%,
2003.
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INVERSIONES
MEJILLONES S.A.
31 December 2003
Legal Status
Inversiones Mejillones SA
Private limited company
Capital subscribed
and paid in
16,526,843, consisting of 18,671 shares
Purpose
To buy and sell for any reason shares, bonds and other
instruments issued by the Empresa Electrica del Norte
Grande SA "EDELNOR", exercising all rights
and fulfilling all obligations deriving from its quality
as shareholder and holder of these securities, as per
the law and company statutes and, in general, acquire,
sell, invest in all kinds of intangible property, such
as shares, company bonds, deposits, mutual fund quotas,
share certificates, bills of credit, securities, etc.;
manage said investments and receive their yields; and
participate in any other business or activity directly
or indirectly related, connected and/or complementary
to the company's purpose.
Board of Directors
Eric of Muynck
Manlio Alessi Remedi
Henk Bataille
Ricardo Campano Gándara (*)
Jorge Navarrete Martínez (*)
General Manager
Henk Bataille
Codelco's share of capital and
changes during the fiscal year
Codelco's holds a 34.80% interest.
Commercial relations with Codelco
The company has no commercial relations with Codelco.
Contracts with Codelco
There were no commercial contracts with Codelco in 2003.
Investment as a percentage of
the head office total
2003 Investment in jointly held firm US$45.441 million
2002 Investment in jointly held firm US$22.180 million
Investment as a percentage of head office assets 0.56%,
2003 |
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INVERSIONES
TOCOPILLA LTDA.
31 December 2003
Legal Status
Inversiones Tocopilla Ltda.
Limited liability company.
Capital subscribed
and paid in
Capital subscribed and paid in by Codelco reached 90,381,891,000
pesos, or 49% of capital.
Purpose
To purchase or sell, for any reason, shares, bonds and
other securities issued by Electroandina SA, exercise
all rights and meet all obligations deriving from its
quality as shareholder and holder of these securities,
as per the law and company statutes and, in general,
purchase, sell and invest shares and rights to companies,
provided the object of same is the electric power business
in any of its forms; manage such investment and receive
the yields therefrom; and participate in any other business
or activity directly or indirectly related, associated
with and/or complementary to the company's purpose.
Board of Directors
Eric of Muynck
Manlio Alessi Remedi
Henk Bataille
Jorge Navarrete Martínez (*)
Ricardo Campano Gándara (*)
General Manager
Manlio Alessi Remedi
Codelco's share of capital and
changes during the fiscal year
49%
Commercial relations with Codelco
There are no commercial relations with Codelco
Contracts with Codelco
There were no commercial contracts with Codelco in 2003.
Investment as a percentage of
the head office total
2003 Investment in jointly held firm US$155.016 million
2002 Investment in jointly held firm US$105.786 million
Investment as a percentage of head office assets 1.92%,
2003 |
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COMPAÑÍA
MINERA PICACHO SCM
31 December 2003
Legal Status
Company name: Compañía Minera Picacho
SCM
RUT: 78.712.170-5
Company created: 26 September 1994
Registry N° 6552/94
Notary Andres Rubio Flores
Capital subscribed and paid in
Capital subscribed and paid in by Codelco (9,999 shares)
and Santiago de Rio Grande SAC (1 share) totaling 771,746,878
pesos.
Purpose
Originally set up in 1994 by Codelco and Sociedad Minera
Mount ISA Chile SA, to carry out geological exploration
in Codelco and Mount ISA properties. In 1997, Codelco
purchased Mount ISA's share and expanded the company's
activities to allow it to apply for water exploration
permits and obtain water use rights, which has become
its main activity in recent times.
Board of Directors
Mario Espinoza Durán, President (*)
Nicolás Saric Rendic (*)
Francisco Camus Infanta (*)
General Manager
Nicolás Saric Rendic (*)
Codelco's share of capital and
changes during the fiscal year
Directly and indirectly, Codelco holds 100% of company
equity.
Changes 2003: During this fiscal year, a share belonging
to Bernardo Infante Philipi was transferred to Santiago
del Rio Grande SAC.
Commercial relations with Codelco
None.
Contracts with Codelco
There were no contracts that substantially influenced
Codelco's operations.
Investment as a percentage of
the head office total
2003 Investment in subsidiary, US$97 million
2002 Investment in subsidiary, US$88 million
Investment as a percentage of head office assets 0.0012%,
2003
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ISAPRE
CHUQUICAMATA LTDA.
31 December 2003
Legal Status
Company name: Isapre Chuquicamata Ltda.
RUT Nª 79.566.720-2
Limited liability company.
Capital subscribed and paid in
Capital subscribed by Codelco 754,951,809 pesos
Capital paid in by Codelco 754,951,809 pesos
Capital subscribed by Fusat 9,943,641 pesos
Capital paid in by Fusat 9,943,641 pesos
Purpose
Provision of health services and benefits, either directly
or through financing them, as per the regulations contained
in DFL No. 3 published by the Ministry of Health. To
meet this objective the company can act and enter into
every kind of contract, including forming other companies
and joining them.
Board of Directors
President of the Board of Directors
Nelson Pizarro Contador (*)
Directors
Manuel Opazo Mórtola (*)
Manuel Zeballos Mundaca (*)
Francisco Peragallo Carrasco (*)
Mario Cavada Morales (*)
Juan Blanco Milla
Roberto Guerra Ugalde
Hernán Polanco Salfate
Francisco Castillo Carvajal
Guillermo Cáceres Chamorro
Gualner Ávalos Ibarbe
General Manager
Mercedes Marotta Martinelli
Codelco's share of capital and
changes during the fiscal year
Codelco's share 98.30%
Fusat's share 1.7%
Commercial relations with Codelco
Provision of health care through medical services to
all Codelco workers affiliated with this private health
insurance firm (Isapre), their family members, and all
Codelco's non-working affiliates. The Isapre pays the
amount of these services monthly to Codelco.
Contracts with Codelco
Contract for health care services (01-06-82)
Medical equipment and instrument rental contract
(01-06-98)
Service provision contract (01-06-98)
Investment as a percentage of
the head office total
2003 Investment in subsidiary, US$2.031 million
2002 Investment in subsidiary, US$1.619 million
Investment as a percentage of head office assets 0.025%,
2003 |
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ISAPRE
RÍO BLANCO LTDA.
31 December 2003
Legal Status
Company name: Isapre Río Blanco Limitada
RUT: 89.441.300-K
Legal Status: limited liability company
Capital subscribed and paid in
Capital subscribed and paid in by Codelco: 536,721,219
pesos
Purpose
Private health care provider (Isapre)
Board of Directors
Germán Morales Gaam, President (*)
Leonardo Whittle Ferrer, Deputy President (*)
Gonzalo Bravo Fuchslocher, General Manager
Vilma Olave Garrido, Medical Director, Isapre
Miguel Inzulza González , Manager, Río
Blanco Clinic
Juan Carlos Cabezas Beroiza, Manager, Administration
and Finances, Río Blanco Clinic
Codelco's share of capital and
changes during the fiscal year
Codelco Chile Andina Division: 99.99%
Isapre San Lorenzo Ltda: 0.01%
Commercial relations with Codelco
The Andina Division has assigned responsibility to this
Isapre for providing workers and ex-workers of the Andina
Division covered by severance plans, and their registered
dependents with health care benefits, including medical,
pharmaceutical and dental benefits offered in the health
care plans approved during collective bargaining and
forming part of labor contracts, which are not financed
by the workers' contribution established by law.
The Andina Division, as delegated
manager of compulsory occupational health and safety
insurance as established in Law N°16,744 and its
amendments, has entrusted the Isapre Río Blanco
with looking after occupational diseases, accidents
on the job affecting workers, special examinations and
pre-hiring examinations.
Contracts with Codelco
Contract N° 4500137673, for providing health care
to workers, former workers and their dependents.
Health care agreement as per Law N°16,744
Investment as a percentage of
the head office total
2003 Investment in subsidiary, US$456 million
2002 Investment in subsidiary, US$471 million
Investment as a percentage of head office assets, 0.006%,
2003 |
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ISAPRE
SAN LORENZO LTDA.
31 December 2003
Legal Status
Company name: Isapre San Lorenzo Ltda.
Legal Status: Limited liability company.
Capital subscribed and paid in
Capital subscribed and paid in by Codelco: 9,995,000
pesos for 99.95%
Purpose
By itself or through third parties, provision and/or
financing of health care services and benefits, as established
by the Ministry of Health's DFL N° 3981. To meet
this objective, the company can act or sign any kind
of contract and even form or dissolve companies or associations
in order to fully comply.
Board of Directors
Hernán Sandoval Orellana, President
Marcos Vergara Iturriaga, Director
Alvaro Cobarrubias Risopatrón, Director
Carlos López Riquelme, Director (*)
Sergio Barraza Castillo, Director
Pablo Arteaga Rodríguez, Alternate director (*)
Enrique Solar Peralta, Alternate director (*)
Guillermo Donoso Cepeda, Alternate director
General Manager
Luis Gustavo Cartes Acuña
Codelco's share of capital and
changes during the fiscal year
99.95%
Note: There was no change in
Codelco's capital share during the last fiscal year.
Commercial relations with Codelco
These involve providing services and financing the health
care services committed through agreements and collective
bargaining contracts that the Division current has or
will eventually have with Salvador Division workers.
Contracts with Codelco
Contract 2054, Health benefits agreement.
Contract 2055, Agreement to cover differences not covered
by the employer's health plan.
Contract 2056, Health benefits agreement (inter-consultations).
Investment as a percentage of
the head office total
2003 Investment in subsidiary, US$529 million
2002 Investment in subsidiary, US$303 million
Investment as a percentage of head office assets 0.007%,
2003. |
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CODELCO
GROUP USA INC.
31 de diciembre de 2003
Naturaleza jurídica
Constituida el 21 de diciembre de 1992 como corporación
en el Estado de Delaware, conforme con sección
108 (c) de la Ley General de Corporaciones.
Capital suscrito y pagado
Capital suscrito y pagado por Codelco Chile en 1.000
acciones, por un total de US$ 1.000.
Objeto social
Cualquier acto o actividad que la ley general de sociedades
del Estado de Delaware permita.
Directorio
Roberto Souper (*)
Juan Pablo Cortínez (*)
Waldo Fortin (*)
Gerente General
Hugo Jordán
Proporción de la inversión
en total de la matriz
2003 Inversión en empresa filial US$ 953 miles
2002 Inversión en empresa filial US$ 779 miles
Proporción de la inversión en total de
activos de la matriz 0,012%, 2003
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CHILE
COPPER LTDA.
31 December
2003
Legal Status
Limited liability company created in England, 29 March
1971.
Capital subscribed and paid in
Capital paid in of £1,000, subscribed as 1,000
shares.
Purpose
Codelco's sales agent and representative in the United
Kingdom and elsewhere in Europe, for copper and molybdenum
products in the UK, Spanish, Scandinavian and Turkish
markets.
Board of Directors
Roberto Souper R. (*)
Juan Eduardo Herrera (*)
Juan Pablo Cortínez (*)
General Manager
Gonzalo Cuadra
Investment as a percentage of
the head office total
2003 Investment in subsidiary, US$1.962 million
2002 Investment in subsidiary, US$1.718 million
Investment as a percentage of head office assets 0.024%,
2003 |
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CODELCO
KUPFERHANDEL GMBH
31 December 2003
Legal Status
Limited liability company set up in Hamburg, 21 August
1981.
Capital subscribed and paid in
Capital subscribed and paid in by Codelco Chile, EURO
3,000,000, as the sole shareholder.
Purpose
To import and export, market and transform metal in
every form, especially copper, and to conduct business
involving equipment for the copper producing industry.
Board of Directors
Juan Villarzú R. (*)
Roberto Souper R. (*)
Juan Eduardo Herrera (*)
General Manager
Heribert Heitling
Investment as a percentage of
the head office total
2003 Investment in subsidiary, US$25.632 million
2002 Investment in subsidiary, US$20.189 million
Investment as a percentage of head office assets 0.317%,
2003
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INSTITUTO
DE INNOVACIÓN EN MINERÍA Y METALURGIA S.A.
31 December 2003
Legal Status
Instituto de Innovación en Minería y Metalurgia
SA
Private limited company
Capital subscribed and paid in
Capital subscribed and paid in by Codelco Chile: as
of 31/12/03 was 1,654,336,166 pesos.
Purpose
The purpose of this company is to develop technological
research and mining processes.
Board of Directors
Juan Enrique Morales Jaramillo (*)
Eugenio Thiers Lillo
Pedro Morales Cerda (*)
Germán Morales G. (*)
Mario Espinoza Durán (*)
Main Executives:
Juan Carlos Salas Morales, Manager
Agustín Sepúlveda Osorio, Deputy Manager
of Finance and Business
Codelco's share of capital and changes during the fiscal
year
Codelco's share currently stands at 99.93%.
Commercial relations with Codelco
Currently, the main commercial relations between IM2
and Codelco are defined by the Convenio of Investigación
e Innovación Tecnológica (an agreement
on technological innovation and research) dated 28 September
1998, through which IM2 provides services for preparing,
directing, managing and executing technological innovation
and research programs and projects.
The main link in the future with Codelco Chile will
reflect development of the portfolio of innovative projects
and programs as dictated by Codelco's strategic priorities.
IM2 has been redefining its strategy to bring it into
line with the structure of technological business to
position itself better to add value to Codelco Chile.
Contracts with Codelco
Contract defining the relationship with the subsidiary
Technological research and innovation. Client
Technical documentation service. Supplier
Computer rental service. Supplier
Investment as a percentage of the head office total
2003 estimated investment in subsidiary, US$2.805 million
2002 investment in subsidiary, US$2.391 million
Investment as a percentage of head office assets 0.035%,
2003
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BIOSIGMA
S.A.
31 December 2003
Legal Status
Company name: BIOSIGMA SA
RUT: 96.991.180-9
Legal Status: private limited company.
Capital subscribed and paid in
Capital subscribed by Codelco: US$2,000,000 equivalent
in Chilean currency
Capital paid in by Codelco: 1,400,620,000 pesos.
• 2002: $693,900,000
• 2003: $706,720,000
Purpose
BIOSIGMA SA was set up by Codelco in association with
the Nippon Mining and Metals Co., Ltd., of Japan, 31
May 2002. The purpose of the company is to develop processes
and technology in the fields of genomics, proteomics
and bioinformatics for mining and in general the application
of microorganism-based systems, and other activities
and business related to these areas.
The activities it currently carries out involve research
and development in the fields of genomics, proteomics
and bioinformatics for mining.
Board of Directors
Juan Enrique Morales Jaramillo, Director (*)
Pedro Antonio Morales Cerda, Director (*)
Mario Espinoza Durán, Director (*)
Shigeru Oi, Director
Keiichi Goto, Director
Luis Castelli Sandoval, Alternate director (*)
Rene Muga Escobar, Alternate director (*)
Gloria Parada Zamorano, Alternate director (*)
Juan González González, Alternate director
(*)
Hideoki Yamamoto, Alternate director
Haruo Sakurai, Alternate director
General Manager
Ricardo Badilla Ohlbaum
Codelco's share of capital and changes during the fiscal
year.
Codelco's holdings account for 66.67% of subscribed
and paid in shares.
Contracts with Codelco
During the 2003 fiscal year, no agreements or contracts
were signed by Codelco and Biosigma SA other than payment
of part of the shares subscribed by Codelco, on 29 May
2003, for 706,720,000 pesos.
Investment as a percentage of the head office total
2003 Investment in subsidiary, US$1.647 million
2002 Investment in subsidiary, US$907 million
Investment as a percentage of head office assets 0.020%,
2003
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SANTIAGO
DE RÍO GRANDE S.A.C.
31 December 2003
Legal Status
A private limited company, set up using a certified
document dated 2 October 1998, notarized by Gloria Cortez
Escaida.
Capital subscribed and paid in
The company's capital is worth 15,457,000 pesos and
consists of 15,000 shares, subscribed and paid in by
Codelco (14,997 shares) and Minera Picacho (3 shares).
Purpose
To obtain water rights and explore for mining resources.
Board of Directors
Juan Enrique Morales Jaramillo (*)
Silvio Guirardi Morales (*)
Pedro Cortez Navia (*)
General Manager:
Mirta Solari Espinoza (*)
Codelco's share of capital and
changes during the fiscal year.
Directly and indirectly, Codelco holds 100% of equity.
Commercial relations with Codelco
Codelco proves a range of services to Santiago de Río
Grande SA, to carry out activities related to its main
purpose.
Contracts with Codelco
A mandate has been signed by Santiago de Río
Grande SA and Codelco to explore, identify underground
water resources and obtain water rights.
In 2003, the company obtained
rights to 542 l/sec. of underground waters.
Investment as a percentage of
the head office total
2003 Investment in subsidiary, US$23 million
2002 Investment in subsidiary, US$7 million
Investment as a percentage of head office assets 0.0003%,
2003 |
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CODELCO
INTERNATIONAL LIMITED
31 December 2003
Legal Status
Codelco International Limited is a company created in
Bermuda, a British protectorate, in 2000, as per the
laws of Bermuda, specially the Companies Act 1981, section
62(2). Its main business is defined in the category
of Mining Company, according to its registry with the
"Notice of Address of Register Office".
Capital subscribed and paid in
Capital subscribed: US$52,522,000,
Capital paid in: US$46,838,559
Purpose
The purpose of the company is to manage and control
Codelco's interests in several international projects.
Through this company and its subsidiary Codelco Technologies
Limited, Codelco has realized investments with Billiton
in Alliance Copper Limited, to use modern technology
in mining operations. Also through Codelco International
Limited, it has invested in Quadrem International Holdings
Limited, a global company formed by the world's main
mining firms to operate an electronic market in which
companies can buy and operate goods and services.
Codelco International Limited and Codelco Technologies
Limited have set up the company, Codelco Do Brasil Mineracao
Limitada, based in Brazil, whose purpose is to develop
exploration and operating projects, commercial activities
and market development.
Board of Directors
Mario Espinoza Durán, Director and President
of the Board of Directors (*)
Waldo Fortín Cabezas, Director and Vice-President
of the Board of Directors (*)
Christopher G. Garrod, Company Representative resident
in Bermuda
Codelco's share of capital and changes during the fiscal
year
Directly and indirectly, Codelco holds 100% of company
equity.
Commercial relations with Codelco
During this fiscal year, Codelco International Limited
and its subsidiary Codelco Technologies Limited have
been involved, through capitalization provided by Codelco
Chile, in capital investment abroad to firms such as
Codelco Brasil Mineracao Limitada, Alliance Copper Ltd
and Quadrem International Holding Ltd. This type of
commercial relationship will continue in the future,
following decisions in this sense by Codelco's Board
of Directors.
Contracts with Codelco
There are no minutes or contracts between Codelco and
Codelco International Limited that substantially affect
Codelco's operations or results.
Investment as a percentage of
the head office total
2003 Investment in subsidiary, US$28.482 million
2002 Investment in subsidiary, US$0
Investment as a percentage of head office assets 0.352%,
2003
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SOCIEDAD
CONTRACTUAL MINERA PURÉN
31 December 2003
Legal Status
Company name: Sociedad Contractual Minera Puren
RUT: 76.028.880-2
Company created: 23 September 2003
Repertory N° 250/2003 Acc:Fs.185 Nº 207
Notary Fernando Opazo Larraín
Capital subscribed and paid in
The shareholders are Codelco, with 350 shares, and Compañía
Minera Mantos de Oro, with 650.
Capital subscribed and paid in total: US$2,692,308
Capital subscribed and paid in by Codelco: US$942,308
Purpose
The purpose of the company is to explore, reconnoiter,
prospect, research, develop and operate mining deposits
to extract, produce and process ores, concentrates or
other products coming from minerals. For these purposes
it can install and run plants to process and treat ores;
claim and purchase mining rights of any kind; sell,
transport, export and commercialize mining substances
and products.
Board of Directors
Juan Carlos Alfaro González, President, Board
of Directors
Luis Pizarro Prieto, Director
Cesar Muñoz Araya, Director
Francisco Camus, Director (*)
Nicolás Saric, Director (*)
Jose Luis Illanes Bücher, Alternate director
Juan Ochoa Matulic, Alternate director
Flavio Fuentes Olivares, Alternate director
Carlos Huete Lira, Alternate director (*)
Luis Blanco Beckett, Alternate director (*)
General Manager
Juan Carlos Alfaro González
Codelco's share of capital and changes during the fiscal
year
Codelco holds 35% with 350 shares subscribed, of a total
of 1000.
Commercial relations with Codelco
There were no out of contract sales or purchases of
goods and services between the company and Codelco.
Contracts with Codelco
There are no contracts that substantially affect Codelco's
operations and results.
Investment as a percentage of the head office total
2003 Investment in jointly held firm US$74 million
Investment as a percentage of head office assets 0.0009%,
2003
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EJECUTORA
PROYECTO HOSPITAL DEL COBRE-CALAMA S.A.
31 December 2003
Legal Status
Company name: Ejecutora Proyecto Hospital del Cobre-Calama
S.A.
Private limited company
Capital subscribed and paid in
Codelco 149,985,000 pesos (99.9%)
Isapre San Lorenzo 15,000 pesos (0.01%)
Purpose
a) To plan and build, by itself or through third parties,
a building to be used as a hospital in the city of Calama.
b) To carry out all activities necessary to meet this
purpose, including agreements and contracts as necessary.
c) To rent or subrent hospital premises; hire insurance
and carry out maintenance, repairs and improvements
to said premises.
Board of Directors
Carlos Rubilar Ottone, President (*)
Raúl Melendez Quiroga, Director (*)
Francisco Coddou Pereda, Director (*)
María Rosa Martínez Núñez,
Director (*)
Hector Cerda Ortiz, General Manager (*)
Codelco's share of capital and changes during the fiscal
year
Codelco holds 99.99% 184,341,191.04 pesos
Isapre San Lorenzo 0.01% 18,435.96 pesos
Commercial relations with Codelco
Framework agreement signed by:
• Codelco
• Ejecutora Proyecto Hospital del Cobre-Calama
SA and
• Las Americas Administradora Fondos of Inversión
SA
This provides the regulatory framework governing the
relationship between these parties, for a 20-year period
(until 31-03-2021).
Contracts with Codelco.
• Sub-rental of the Hospital del Cobre, Dr. Salvador
Allende G., until March 2021, as per framework agreement.
• Operating maintenance of the Hospital del Cobre,
Dr. Salvador Allende G., carried out by the executing
company until May 2002.
• Computer information support service provided
by the Division to the executing company (contract SEHC-98-002,
with CHC Consultoría Gestión SA), until
31 December 2003.
• Accounting and billing service provided to the
executing company by Codelco, until 31 March 2021.
• Conceptual engineering for the expansion of
the primary care center, provided by the executing company
to the division, until February 2003.
Investment as a percentage of the head office total
2003 Investment in subsidiary, US$42 million
2002 Investment in subsidiary, US$31 million
Investment as a percentage of head office assets 2003:
0.0005%
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FUNDICIÓN
TALLERES S.A.
31 December 2003
Legal Status
Fundición Talleres SA is a limited company set
up by certified document on 11 August 2003, notarized
by Jose Musalem Saffie, Santiago.
RUT: 99.532.410 - 5
Capital subscribed and paid in
Capital subscribed by Codelco: US$15,736,586.44 equivalent
in Chilean currency.
Capital paid in by Codelco: US$14,022,896.25
The company's total capital is equivalent to US$15,736,601.95
and consists of 998,064 shares, of which 998,063 shares
have been subscribed by Codelco and one by Elaboradora
de Cobre Limitada.
Purpose
The purpose of the company is to manufacture and sell
scrap steel castings and in general carry out manufacturing
and commercial activities in the field of metallurgy
and metal-mechanics.
Board of Directors
Mario Espinoza Durán, President (*)
Alex Acosta Maluenda (*)
Luis Blanco Beckett, (*)
Waldo Fortin Cabezas, (*)
Ricardo Campano Gándara, (*)
General Manager
Carlos Salazar Rosas
Codelco's share of capital and changes during the fiscal
year
To 31 December 2003 Codelco Chile held a 99.9% share
of Fundición Talleres SA, and after an auction
process it sold 60% of the company to Compañía
Electro Metalúrgica SA (Elecmetal), which reduced
its share to 40% as of January 2004.
Commercial relations with Codelco
The company carried out business with several Codelco
divisions and CMS Tecnología SA in 2003.
Contracts with Codelco
1. Outsourcing service, management of information technology.
2. Corporate auction 2002 elements of scrap steel
castings GAB DIMO 037/2002 offer CFU-081-02, mill replacement
parts, second SAG plan, El Teniente Division, framework
contract Nº 5500001977.
Investment as a percentage of the head office total
2003 Investment in subsidiary, US$15.169 million.
Investment as a percentage of head office assets 0.1875%,
2003.
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