Former BID Advisor to Aclara Manager: Mas Reveals Five New Directors Joining Enami

Chile’s Minister of Economy, Development, and Tourism, Nicolás Grau, has announced the appointment of five new directors to the board of the state-owned mining company Empresa Nacional Minera (ENAMI). The announcement was made during a session with senators on April 22, 2026, where Grau addressed the company’s financial challenges, noting that ENAMI must allocate approximately $10 million annually for debt service. Among the new appointees is María Luz Mas, a former advisor to the Inter-American Development Bank (BID), whose background in multilateral financial institutions is expected to strengthen oversight of sustainable mining practices and international funding mechanisms. Another appointee is Carlos Valdés, a current manager at Aclara Resources Inc., signaling closer alignment between the state-owned miner and private sector rare earths initiatives in Chile. The remaining three directors are independent experts with specialized experience in ESG compliance, digital mining transformation, and international finance. Grau emphasized that the selection process prioritized technical expertise, governance experience, and a demonstrated commitment to environmental and social responsibility in mining, rather than political considerations. ENAMI, which supports artisanal and small-scale miners through mineral purchasing, processing, and commercialization services, processes ore from over 1,200 such operations across Chile. The company recently designated Juan Carlos Sáez as its new executive vice president, a move confirmed in early 2026 as part of a broader leadership restructuring effort aligned with government initiatives to modernize state-owned enterprises in the natural resources sector. During the senatorial briefing, Grau highlighted that ENAMI’s current debt obligations require significant annual payments, limiting the company’s financial flexibility for operational investments or expansion. He framed the board appointments as part of ongoing efforts to strengthen ENAMI’s governance amid these challenges. Grau similarly clarified that the Ecuadorian state mining entity ENAMI EP, despite sharing a similar name, is unrelated to Chile’s ENAMI and operates under different jurisdictional frameworks. Chile’s ENAMI continues to focus on supporting domestic small mining producers through training programs and market access, including the initiation of its 2026 cycle of free training courses for artisanal miners and workers. The appointments were confirmed during a closed-door session with the Senate Mining Committee on April 15, 2026. Grau stated that the selections were based on merit, technical expertise, and alignment with Chile’s National Lithium and Copper Strategy 2025–2035, emphasizing that the goal is to build a board capable of navigating the complex intersection of decarbonization demands, supply chain fragility, and rising global copper prices while upholding ENAMI’s public mandate.