Can you give us an update on STM's performance for 2024?

Overall, the market is quite dynamic, and we expect this to continue into 2025 and 2026. Many of our commercial projects are nearly complete, and we have high expectations for these. 

In 2024, we worked on several projects aimed at increasing capacity. For example, we worked on a project with Escondida to extend the gravel dump conveyor, and on another project where we had to deliver pre-assembled equipment to minimize installation time within existing plants. These projects were critical because they needed to be done during plant shutdowns to minimize production losses.

How would you describe the geographical distribution of the mining industry in Chile?

Large-scale mining in Chile is located in a fairly limited geographical area, from the center of the country to the Tarapacá region. The geography in this area allows for multiple logistical points from which each mining zone can be supplied, such as the cities of Rancagua, Santiago, Los Andes, La Serena, Copiapó, Antofagasta, and Iquique. This is a great natural advantage that our country has, as it makes it easier for us to respond to customer needs. 

How is digital transformation affecting mining in Chile and STM’s operations?

Chile has been a leader in digital transformation particularly for mining. For many years, maintenance relied on collecting data from equipment, which was once done manually, but now it is fully automated. Data is automatically gathered from each component and sent to a central database for analysis to determine maintenance needs. Preventive maintenance has become the standard as most companies adopt this data-driven approach.

What would you like to see in terms of regulation changes in Chile?

The key issue is permits. It is important to ensure that projects comply with environmental norms and community interests, but processes need to be clearer. Many projects end up in judicial disputes, which delays the process. For example, the Dominga project was approved by environmental authorities but still has not been given the final permit. The government should prioritize projects with clear investment commitments and avoid unnecessary delays, especially since some projects have been in the pipeline for years.

How do pipe conveyor and modular conveyor systems aid mining operations?

Pipe conveyor systems are mature technologies, and our clients are very familiar with them. The challenge with tubular conveyors is that they are only suitable for fine materials, not coarse materials like those in mines such as Chuquicamata underground. However, tubular conveyors are very effective in projects at ports, especially for transporting materials like copper concentrates to ships. This technology helps reduce dust emissions because the conveyors are enclosed.

Modular systems greatly improve the productivity of mining plants, especially in high-altitude operations where installation time is usually restricted. A modular system can be assembled in a fraction of the time compared to traditional setups, which is crucial when working in difficult conditions. This helps speed up installation and increases the plant's overall productivity. However, this technology is more expensive, so it requires close collaboration with the client to ensure cost-effectiveness.

How does STM view the mining sector in Peru and its relationship with Chile?

The Peruvian mining market is large and has different challenges, but it complements Chile’s mining industry. 

Right now, Chilean mining's biggest challenge is not Peru or Argentina but Africa, which is attracting considerable attention from Chinese and Russian investments. While Chile remains a leader, the demand for copper is greater than supply, and we cannot predict what will happen in the next 15 years, especially with discoveries like the large copper deposit in Tibet, which could affect global prices.

What is STM’s strategy for 2025, and how do you plan to strengthen your position in the Chilean market?

Our strategy is to capitalize on the current favorable moment for mining. We offer clients specific expertise in conveyor systems, with a team of highly experienced individuals who can respond quickly to the needs of material transport systems. We aim to build closer relationships with our clients, offering direct contact with experts who can deliver projects quickly and reliably. This sets us apart from companies that focus on standard equipment and enable us to respond more flexibly to market needs.