Enami’s stake in Quebrada Blanca (QB) is a minority, but it possesses a unique characteristic that sets it apart from other shareholders: it is non-dilutable. This means that even in the event of capital increases subscribed by other shareholders, the state-owned miner retains its ownership. This stake is comprised of series B shares, which also entitles Enami to a preferred dividend. Bonus: it is not required to finance capital expenditures.
“We cannot provide information on this matter because it is under a confidentiality clause,” Enami, which groups small and medium mining projects in the country, told La Tercera.
The state-mining company recorded losses of $200 million in 2023, more than double the $78 million loss it logged in 2022. The miner estimated the value of its investment in QB in slightly over $323 million, according to its 2023 financial statement.
Enami’s problems have not disappeared — it currently is…
