Pablo Bascur CEO

Economist,
BS in Business
Catholic University of Chile
Age 61

Mr. Bascur has dedicated 35 years to molybdenum marketing, including executive positions at CODELCO (serving for 10 years in two periods) and MOLYMET (15 years). For 12 years he has provided consultant and brokerage services. During his terms at Molymet (1976-1991), he served as Marketing Vice-President, responsible for the whole commercial area, including concentrate supply contracts, both on toll conversions and purchase and sale of by-products, such as Mo oxides, ferromolybdenum and rhenium

Under his leadership, company business evolved from a local Chilean converter processing only CODELCO Mo concentrates to a consolidated international converter, with a wide base of Mo concentrates supply from all over the world (today Molymet processes more than 30% of the world's Mo output). He started Molymet's direct sales of Rhenium Metal to aircraft engine manufacturers in the early 80', turning Molymet into a world leader in that market. He also initiated Molymet's worldwide marketing of chemically purified Mo products in the late 80'.

Between 1992 and 2000, Mr. Bascur established his company Inversiones y Comercio ICPB Ltda., MolyExp, and provided consultant services to producers as well as brokerage services to Mo trading companies. He was a representative in Chile for Derek Raphael & Co, DRC, the largest Mo trader, headquartered in the UK, and for Phibro Energy, in their copper and other commodities business. These activities were stopped in 2000, when Mr. Bascur was invited to join CODELCO's executive team.

From 2000 through 2005 Mr. Bascur served as COLDELCO's Executive Vice President, Molybdenum Sales (also including sales of sulfuric acid, gold- and silver). During this period, CODELCO became the world's largest Mo producer, with Mo sales reporting US$2 billion profits to CODELCO in 2005.

After leaving CODELCO in 2005, Mr. Bascur resumed his activities as independent service provider in the Mo and rhenium field. He was an agent for Comsup Commodities, Inc. for South America in 2006 and 2007. After that he dedicated himself exclusively to providing consultancy as Mo expert. In the past 12 months, he has provided advisory services to companies like Xstrata (Altonorte Division), Minera Lumina Copper Chile (Pan Pacific Copper), Compañía Minera Doña Inés de Collahuasi, SRK Consulting, Inc. (US) and Compañía Minera Antamina.

He is the author of "Moly Market Vision", an in-depth analysis and projection of the global Mo market, sold in 2005 to large number of Mo market participants in three continents. In September of 2009 he launched a new market survey, "Moly Market Outlook", which covered the short and medium term, also sold worldwide.

As a Mo market expert, Mr. Bascur has been a guest speaker at various international Mo conferences in US and China. His most recent presentation in China was held in Xian in March of 2009 and in USA he presented the Moly Market Outlook at the Ryan's Notes Ferroalloys conference held in Florida, last October 26, 2010. His interviews and opinions as an expert in the Mo market have been quoted by Metal Bulletin, Platt's Metals Week, Ryan´s Notes, BNAmericas.com and Wall Street Journal, among others.

Marcela Adriasola Director

Civil Engineer
Major in Mechanical Engineering
Catholic University of Chile

Marcela Adriasola has worked for more than 35 years in the Chilean mining industry, in the public sector for the state-owned and largest copper mining corporation in Chile "CODELCO", and in the private sector for the nitrate and iodine producer "SQM" (SOQUIMICH).

From 1974 to 1984, Ms. Adriasola held different positions in COLDELCO's commercial area. She started off as a production programming engineer, to then move on to shipping, and finally to become the head of the department responsible for logistics and invoicing and collections. Current CODELCO sales amount to US$10 billion per year.

In 1984 she joint SQM to lead the shipping department and specialized in chartering bulk carrier vessels. This is an important area in the nitrate business, since these products can only support relatively small freight costs; products are sold worldwide, but mainly to the US and Europe. Later on she was promoted to the position of Vice President, Sales Operations responsible for shipping and production planning, in addition to the coordination of product quality of the three operating plants. SQM currently sells approximately to US$1 billion per year.

In 1994 Ms. Adriasola returned to CODELCO to lead the logistics, sales and production programming processes. In 1996 she was appointed Executive Vice President of Sales, in charge of cathode sales and logistics and commercial operations, including invoicing, collection and coordination of quality with the plants. In 2010 the Sales area was restructured and Ms. Adriasola was appointed to Vice President of Sales Operations, in charge of Logistics, Sales and Production Planning, in addition to Invoicing and Collections. Finally, in 2005 she was appointed Executive Vice President of Sales, responsible for By-Products Sales (Molybdenum, Precious Metals and Sulfuric Acid).

Mrs. Adriasola left CODELCO in January this year.

Matías Bascur Market Analyst

Matías Bascur has 6 years of experience in market research. He has worked as trainee and employee in Chile's two largest marketing research companies, Adimark GfK and Ipsos Chile. He joined MolyExp in 2007, as a Mo market researcher, providing advisory to several clients.