:: CODELCO and Nippon Mining & Metals Co. form alliance

CODELCO and Nippon Mining & Metals Co., Ltd. have formed BioSigma S.A. to incorporate to latest advances in biotechnology to biomining processes, with an initial share capital of US$ 3 million.

The new Company, which started activities on July 1st, 2002, seeks to develop products ranging from relatively simple technologies for optimizing current heap & dump bioleaching processes through better operational control, to the more complex technology such as the identification, characterization and subsequent cloning of proteins and bacteria used in biomining. Special emphasis will be given to develop environmentally sustainable technologies for low grade ores and for metals recycling.

In addition to its own capital, BioSigma S.A. has signed an agreement with GENOME CHILE , the initiative of the Government of Chile to incorporate modern biotechnology to key sectors of the economy, to manage a US$ 2 million R&D fund for the activities of the Company in Research Centers, Companies and Universities worldwide.

There is currently a First Call to finanance Projects in Biotechnology for Mining. More details on www.biosigma.cl