CAP S.A.

CAP S.A., also known as Grupo CAP and historically as Compañía de Acero del Pacífico, is a Chilean holding company focused on mining and steel. Its business is organized around an integrated value chain that begins with the extraction and concentration of iron ore in northern Chile, continues through steel production at the Huachipato complex near Talcahuano in the Biobío Region, and extends into processed steel products for construction, industry, and infrastructure. The mining arm, Compañía Minera del Pacífico, operates iron ore resources located in Chile's northern Iron Belt. Iron ore extracted and concentrated by the mining business is sold as a raw material to steel producers, with Asian markets—including China, Japan, Malaysia, South Korea, and Indonesia—identified as important destinations. This activity gives CAP exposure to international commodity markets while linking the group to Chile's long-established mining economy. The steelmaking stage is represented by Compañía Siderúrgica Huachipato. Located close to the port of Talcahuano, the Huachipato facility produces flat and long steel products for a broad range of Chilean industrial uses. The site is central to CAP's identity as a domestic steel producer and connects imported and locally sourced inputs with Chilean manufacturing, construction, and infrastructure demand. CAP's downstream operations are conducted through subsidiaries including Cintac S.A. and Intasa S.A. These businesses transform steel into products and systems used in construction, industrial applications, and infrastructure services. Their activities also support sales in other Latin American markets, extending the group beyond primary mining and steel production. The company has historical roots in Chile's national industrial development and was affected by the nationalization of mining assets during the early 1970s. Following that process, Compañía de Acero del Pacífico obtained ownership of the El Tofo and El Romeral iron mines. Ownership of these mining assets subsequently moved to Compañía Minera del Pacífico during the privatization period under the Pinochet government. CAP is publicly traded in Chile and is represented in the Santiago Stock Exchange's IPSA index. Its principal facilities and businesses remain associated with iron ore, steel, and value-added steel products.

CAP S.A. developed as a Chilean industrial group linking domestic steel production with iron ore mining. Its historical business identity is reflected in the Spanish name Compañía de Acero del Pacífico, while the group is now commonly presented as Grupo CAP. The company became part of Chile's effort to establish a national steel industry, with its principal steelmaking base located at Huachipato near the port of Talcahuano in the Biobío Region. The group's mining history was significantly affected by the nationalization of Chile's mining sector in the early 1970s. In the course of that process, Compañía de Acero del Pacífico obtained ownership of the El Tofo and El Romeral iron mines. These assets connected CAP's steelmaking activities with domestic sources of iron ore and strengthened the strategic relationship between mining and steel production within the group. The ownership structure of the mines later changed during the privatization period under the Pinochet dictatorship. Ownership of El Tofo and El Romeral subsequently passed to Compañía Minera del Pacífico, the mining company through which CAP's iron ore business is represented. The group's modern structure separates its principal activities among specialized affiliates rather than treating mining, steelmaking, and downstream manufacturing as a single operating unit. Compañía Minera del Pacífico forms the first part of the value chain. It extracts and concentrates iron ore from deposits in the geological region known as the Chilean Iron Belt in northern Chile. The resulting material is sold as an input to steel producers, with Asian destinations such as China, Japan, Malaysia, South Korea, and Indonesia identified among the principal markets. The second part of the chain is Compañía Siderúrgica Huachipato. At the Huachipato complex, CAP uses iron ore and other inputs to produce flat and long steel for varied Chilean industries. The location beside the port of Talcahuano supports the movement of raw materials and finished products and makes the facility an important element of Chile's industrial infrastructure. The final part of the group's activity is downstream steel processing. Subsidiaries including Cintac S.A. and Intasa S.A. convert steel into products and developments serving construction, industry, and infrastructure. These businesses market their products in Chile and in other Latin American countries, giving CAP a presence beyond basic commodities and primary steel. CAP is listed on the Santiago Stock Exchange and forms part of the IPSA index. Its overall business model therefore combines exposure to international iron ore and steel markets with a domestic manufacturing role. The group continues to be defined by the connection among northern Chilean mining operations, the Huachipato steel complex, and downstream steel-processing companies.

1. 1970Mining nationalization reshapes CAP's asset base

   During the nationalization of Chile's mining industry in the early 1970s, Compañía de Acero del Pacífico obtained ownership of the El Tofo and El Romeral iron mines.

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2. Creation of an integrated Chilean steel and mining group

   CAP emerged as a Chilean industrial enterprise linking steel production with iron ore resources and later organized these activities through specialized mining, steelmaking, and downstream subsidiaries.

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3. Mining assets transferred to Compañía Minera del Pacífico

   During the later privatization period, ownership of the El Tofo and El Romeral mines passed to Compañía Minera del Pacífico, the affiliate representing CAP's mining operations.

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4. Expansion into downstream steel processing

   Through Cintac, Intasa, and related subsidiaries, CAP extended its activities from primary steel production into processed products for construction, industry, and infrastructure markets.

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5. Inclusion in the IPSA index

   CAP became a constituent of Chile's IPSA index while remaining listed on the Santiago Stock Exchange.

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An integrated Chilean mining and steel group spanning iron ore extraction, primary steelmaking, and downstream steel processing for construction, industrial, and infrastructure markets.

• Iron oreMining commodity

  Compañía Minera del Pacífico extracts and concentrates iron ore from deposits in northern Chile's Iron Belt. The material is supplied as a raw material to steel producers, particularly in Asian markets including China, Japan, Malaysia, South Korea, and Indonesia.

• Flat and long steelPrimary steel

  Compañía Siderúrgica Huachipato produces flat and long steel at its facility near Talcahuano. These products serve a wide range of Chilean industrial, construction, and infrastructure applications.

• Processed steel productsDownstream steel products

  Cintac, Intasa, and related subsidiaries process steel into products and systems for construction, industry, and infrastructure services. The downstream portfolio is marketed in Chile and other Latin American markets.

1. CAP S.A.