January 7, 2022
MAPA project moves forward and closes Line 1 of ARAUCO Mill
After 50 years of history, Line 1 of the Arauco mill halted production as part of the start-up process of MAPA, the Mode...
Business / Published December 30, 2021
Empresas Copec completes exit from Mina Invierno project
In line with a strategy that places sustainability at the core of its investment decisions, on December 29, Empresas Copec S.A. sold its 50% interest in Inversiones Laguna Blanca S.A. to Inversiones Ultraterra Limitada, the company through which the “Mina Invierno” coal mining project was developed on Isla Riesco, Magallanes Region, which is now in the final closure stage.
Prior to this transaction, Empresas Copec provided sufficient funding for Inversiones Laguna Blanca S.A. and its subsidiaries to comply with the obligations of the project’s closure plan and with all its environmental and other commitments.
This transaction is part of the decision to concentrate its management efforts in its main areas of activity, in initiatives and businesses of relevant scale and with growth potential, and also to strengthen, through its subsidiaries, its presence in new energy and decarbonization projects. Recent and illustrative examples of this vocation are Copec’s development of electromobility, as well as Arauco’s certified carbon neutrality status and the declarations of both subsidiaries on climate change.
Empresas Copec will continue to advance towards its goal of contributing to the development of a more sustainable future for all.