CAP Group names new board directors, approves 10-year strategic plan

CAP Group names new board directors, approves 10-year strategic plan

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Chilean mining and steelmaking holding CAP Group has named several new board directors, while also approving its 10-year strategic plan.

Existing board members Roberto de Andraca Adriasola, Juan Enrique Rassmuss Raier, Jorge Salvatierra and Tadashi Mizuno were re-elected, the company said this week. Three other directors were also appointed: Patricia Núñez, María Olivia Recart and Manola Sánchez.

The company said sustainability should be a core part of its 10-year strategy. “The continuous search for adaptation of CAP Group before the new realities around (the company), which quickly change nowadays through variables like digitizing and climate change, social crisis and the need to create shared value for all stakeholders, incite us to make adaptations to the business models of our companies,” said Julio Bertrand, general director at CAP.

Bertrand said CAP’s strategy should also contemplate innovation as a “recurring practice in the development and transformation of natural resources,” with the use of products like natural gas and shifting toward a cleaner energy matrix.

Bertrand confirmed CAP Group’s forecast of investing $459 million in 2021. Out of the proposed investments, 40 percent are maintenance-related, 28 percent will cover growth projects, another 17 percent are sustainability-focused, and 15 percent will support cost reduction initiatives.

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