Marcelo Awad is a Chilean businessman and the former CEO of Antofagasta Minerals, one of the largest copper mining companies in the world. He currently serves as the executive chairman of Wealth Minerals, a mining exploration and development company focused on lithium assets in Chile. Awad is known for his expertise in the mining industry and his ability to identify valuable mineral assets.
Prior to joining Wealth Minerals, Awad spent over 25 years at Antofagasta Minerals, serving in various senior leadership positions. During his tenure, he oversaw the company's expansion into new markets and played a key role in its growth into one of the world's leading copper producers.
Awad said, "Seven and a half years in the term as the president and CEO, and when I finished, the company was producing them nearly ten times more than when I had joined the company."
Currently, Awad is an independent board remember for three companies. When asked how he became a board member for these companies, Awad told Streetwise, "I have been always been approached to become a board member. I have been lucky in the sense that I have been able to choose what company to join," and the companies he likes to join are in the metals sector.
"It's funny," he commented, "but since I was in secondary school, I always liked the sector. Still, I never thought that I was going to join the mining sector later. When I studied to be an engineer, I was mainly on the business side, but fortunately, I managed to join a mining company on the business side," and the rest is history.
Awad went on to speak about two companies he is on the board of, for which he holds in high regard.
Wealth Minerals
The first company he spoke about was Wealth Minerals Ltd. (WML:TSX.V; WMLLF:OTCQB). Wealth Minerals is a Canadian mining exploration and development company focused on lithium assets in Chile. The company's primary focus is on the development of its Atacama Project, which is located in the heart of the Atacama Salar, one of the world's largest and highest-grade lithium brine deposits. The company also has several other lithium projects in Chile, as well as a portfolio of precious metals projects in Mexico and Peru.
Analysts and experts have been bullish on Wealth Minerals' potential in the lithium market, given the growing demand for lithium-ion batteries in electric vehicles and renewable energy storage. In 2021, the company announced a strategic partnership with Chinese battery manufacturer GSRNE, which will provide funding for the development of Wealth Minerals' Atacama Project and potential off-take agreements for the sale of lithium products.
In addition, Wealth Minerals has attracted investment from high-profile investors such as Eric Sprott, a Canadian billionaire and renowned resource investor. Sprott has invested in several rounds of financing for Wealth Minerals, citing the company's strong management team and potential in the lithium market.
Awad likes this company because "We have a very good team of experts in Chile and in Canada," all of which have deep experience in the mining sector.
When asked about upcoming catalysts for wealth minerals, Awad said, "We are intending to develop as soon as the Chilean authorities announce what is going to be the lithium policy or the private sector to develop a product . . . We have been in Chile for many years, and we have been with three different governments waiting for this policy." However, Awad said it seems that this decision will come in a matter of days or weeks.
"With what we have selected from different regions with authorities, this is going to be a pro-business and also good for the private sector provided the asset minority shareholder is stable," he noted.
*insert ownership and share structure*
World Copper
Next, he spoke about World Copper Ltd. (WCU:TSX.V; WCUFF:OTCQB). World Copper is a Canadian mineral exploration company focused on the acquisition, exploration, and development of copper projects in Chile. The company's primary focus is on the exploration of its flagship Cristal project, located in the Atacama Desert region of northern Chile, which is considered one of the most prolific copper-producing regions in the world.
World Copper is led by a team of experienced professionals with a strong track record of success in mineral exploration and development. The company's management team is committed to responsible and sustainable mining practices and has a deep understanding of the local community and environmental considerations.
