Investment Highlights
- Established Cash Flow Base: Since 2018, over C$23.8 million in revenue from the sale of more than 8.2 million pounds of copper with an average grade of 1.8% Cu.
- Vertically Integrated Model: Combination of its own mine (Santa Beatriz) and modern processing plant (El Peñón) creates control over the value chain and margins.
- Sustainable Production: Dry tailings, 75% lower water consumption, no settling ponds – ESG-compliant operating model in Chilean small-scale mining.
- Location Advantage: Projects in the IOCG-rich Atacama Zone near La Serena – one of Chile’s most productive regions.
- Experienced Management: Leadership team with decades of experience in exploration, financing, and international mining operations.
- Growth Strategy: Expansion of the Santa Beatriz mine, increasing production rates, and potential for additional acquisitions in the region.
Company & Strategy
Altiplano Metals Inc. (TSXV: APN / WKN: A2JNFG) is a growth-oriented company focused on copper, gold, and iron projects in the Americas. Its business model combines operational production with exploration potential – a combination that enables stable cash flows and long-term growth.
Since the start of production in 2018, the company has generated sustainable revenues from copper extraction and processing. These revenues are consistently reinvested into project development, equipment, and exploration. The goal is to establish a scalable, self-financed growth model that unlocks new exploration opportunities without relying on external financing.
Altiplano pursues a Revenue Generator Strategy: Revenues from ongoing production finance the development of new resources. This positions the company as a reliable producer in the Chilean copper belt and as an exploration company with significant leverage to rising metal prices.
Market Environment
Chile – Foundation of Global Copper Production
Chile is the world’s largest copper producer and offers excellent conditions for exploration and mining. The region around La Serena, where Altiplano operates, is located in northern Chile within the Atacama Fault System, which is over 1,000 kilometers long and hosts numerous significant IOCG (Iron Oxide Copper Gold) deposits.
The sustained demand for copper – particularly driven by electrification, renewable energies, and electromobility – enhances the importance of stable, ESG-compliant producers. At the same time, by-products such as iron and gold gain strategic relevance as they open up additional revenue streams.
ESG and Modern Processing
With the El Peñón Processing Plant, Altiplano sets new standards for sustainability in Chilean small-scale mining. The plant operates with
These measures not only reduce environmental impact but also open up economic benefits through the sale of iron concentrates as an additional product.
Project Portfolio
1. Santa Beatriz Copper-Gold-Iron Project
(La Serena, Chile)
The Santa Beatriz Mine is located just a few kilometers south of the existing Farellon operation and approximately 15 kilometers from the El Peñón processing plant. It is situated within the IOCG belt, which hosts a number of significant deposits in northern Chile.
Geology and Potential:
Santa Beatriz consists of several steeply dipping, northeast-striking veins embedded in microdiorite and andesite. The mineralized structures contain
In total, seven additional, as yet untested, IOCG veins have been mapped. Two main veins in the southeast of the property reach thicknesses of up to 1.5 meters and remain open both along strike and at depth.
Current Development:
In 2025, Altiplano made significant progress at Santa Beatriz. The main vein was successfully intersected above the 425-meter horizon, with massive
The Chilean mining authority SERNAGEOMIN approved the expansion of the mine to three production levels over a period of 42 months – providing a basis for the next production phase. The material is continuously delivered to the El Peñón processing plant.
Permits and Capacity:
Santa Beatriz is currently permitted for a production of 2,000 t/month, with expansion potential to 5,000 t/month.
(Fig. 1: Location of the Farellon and Santa Beatriz projects south of La Serena, Chile)
2. El Peñón Copper-Gold-Iron Processing Plant
(El Peñón, Chile)
The El Peñón Processing Plant was constructed to efficiently process ore material from the company’s own projects and generate additional revenue from by-products. With a capacity of 5,000 tonnes per month, it reduces transportation costs by up to 75% and total processing costs by approximately 33%.
Technical Features:
The plant includes a modern crushing, grinding, and flotation line adapted to the mineralogical properties of IOCG ores. In addition to copper and gold concentrates, El Peñón produces a high-grade iron concentrate (> 65% Fe), which opens up a second market.
Environmental Aspects:
The concept of dry-stack tailings eliminates the need for a conventional retention pond, which not only minimizes environmental impact but also allows for the sale of final tailings to the construction industry. The plant is considered the first of its kind in the Chilean small-scale processing sector and sets new standards for ESG-compliant production.
Commissioning:
After receiving the construction permit in September 2021, installation was completed in 2023. Since July 2024, the plant has been producing commercial copper-gold concentrates.
(Fig. 2: El Peñón Processing Facility – modern plant for Cu-Au-Fe processing)
3. Farellon Copper-Gold Project
(La Serena, Chile)
The Farellon Project was the company’s primary source of copper concentrate for several years and served as the foundation of its current cash flow base. Between 2018 and 2024, approximately 232,000 tonnes of ore were mined and sold to ENAMI, from which 6.95 million pounds of copper with an average grade of 1.81% were recovered.
Mining was carried out via an underground adit system with multiple production levels. This experience laid the groundwork for the efficiency and planning of the current Santa Beatriz project.
(Fig. 3: Cross-section of the Farellon mine with production levels and veins)
Outlook
Altiplano is in a crucial growth phase. With the successful ramp-up of the Santa Beatriz Mine and the El Peñón Plant, the company is establishing the foundation for scalable, sustainable production.
Going forward, the focus will be on:
- the further expansion of mining capacities,
- the optimization of plant processes,
- as well as the identification of additional IOCG targets in the immediate vicinity of existing infrastructure.
In parallel, management is evaluating new acquisition opportunities in the El Peñón area to continuously ensure the plant’s utilization. The combined model of in-house production and third-party material processing offers the long-term potential to significantly increase cash flow.
Management
Alastair McIntyre – President & CEO
Over 30 years of experience in the international metals and mining sector, with positions in Toronto, New York, Sydney, and Hong Kong. Expert in capital markets, metal trading, and structuring large-volume commodity financings. Registered as MAusIMM CP (Man) and P.Geo (Limited).
John Williamson – Chairman & Director
Founder and long-standing leader of numerous listed companies in Canada and Australia. Multiple recipient of the TSX Venture 50 award.
Mark Minckler – Chief Financial Officer
Over 30 years of professional experience in accounting and finance, including as a partner in real estate development and financial manager of a geological consulting firm.
José Quintero – Business Manager
15 years of experience in finance, construction, and mining, certified SAP FI consultant and former officer.
Dr. Osbaldo Zamora – VP Technical Operations
Exploration geologist with over 20 years of international experience, specializing in IOCG, porphyry, skarn, and VMS deposits in Chile, Peru, Mexico, and Canada.
The team is complemented by experienced directors such as Sean Mager, James Farley, John Alcock, and Jeremy Yaseniuk, who bring profound expertise in corporate governance, financing, ESG, and capital market strategies.
Conclusion
Altiplano Metals combines the stability of a producing company with the dynamism of an explorer. The integrated business model – consisting of the Santa Beatriz mine and the El Peñón processing plant – enables the efficient and environmentally conscious extraction of copper, gold, and iron.
In the Chilean IOCG belt, one of the world’s most productive mining regions, the company benefits from ideal geological conditions and existing infrastructure. The continuous expansion of production, ESG-oriented operations, and experienced leadership form a solid foundation for further growth.
Given the sustained high demand for copper in the global energy transition, Altiplano Metals offers attractive long-term prospects for investors who wish to participate in a sustainable, high-margin producer in the Chilean market.
