The year 2025 was not an ordinary year for Pucobre, the mining company controlled by the Hurtado Vicuña and Fernández León groups. It marked, according to its president, Juan Hurtado Vicuña, the beginning of a “new strategic cycle of three years, with a long-term vision and the goal of consolidating a company that is increasingly competitive and sustainable. ” The businessman listed the company's achievements, one of the few publicly traded on the local stock exchange, highlighting that copper production grew by 10% and costs decreased by 8%.
"This operational performance, combined with a favorable price environment, resulted in one of the best financial results in our history, (... ) with a profit of US$ 129 million and an EBITDA of US$ 242 million," he said. Hurtado Vicuña emphasized that “the year was marked by a demanding international scenario, with high uncertainty and accelerated changes in technology and productivity.
” The problems were not only external. “In Chile, the permitting process continues to represent a structural challenge for the competitiveness of the mining industry,” he stated. The president of Pucobre expressed in his letter to shareholders that in 2025, it was also about sowing for the future.
The El Espino project in Coquimbo—a key pillar for growth—secured its financing and made steady progress in its construction, even securing a significant commercial contract for the sale of concentrates worth US$ 800 million with Mercuria for four years, “strengthening the commercial visibility of the project. ” In Hurtado Vicuña's view, “El Espino represents a significant bet to create value from the outset, with a greenfield project that has a long-term vision for the company. ” At the same time, in Antofagasta, a crucial administrative step was taken for the Tovaku project, and the first high-value copper foil was produced in the laboratory, opening new technological doors.