Marimaca Copper Reshapes Board With First Quantum Veteran & New Independent Chair

Company Overview

Marimaca Copper [TSX:MARI, ASX:MC2] is a copper development company advancing the Marimaca Oxide Deposit (MOD) in Chile. The company is focused on progressing the MOD toward a construction decision and building the organisational and governance capability required to deliver the next major copper mine in Chile.

Board Reconstruction Targets Construction Readiness

Marimaca Copper has announced a series of board changes designed to deepen its mine-building and in-country expertise as the Marimaca Oxide Deposit advances toward a construction decision.

The most significant addition is Zenon Wozniak, appointed as Independent Non-Executive Director effective 27 March 2026. Wozniak joins from First Quantum Minerals Ltd, one of the world's leading copper producers, where he served as Director, Projects through to 2026. In that role, he oversaw a global development portfolio that at times exceeded US$10.0 billion in value across multiple concurrent projects.

His track record includes direct responsibility for the construction and delivery of the Cobre Panama copper mine in Panama and the Kansanshi copper mine in Zambia. His expertise spans project design, engineering, construction, commissioning, project management, and operational leadership across copper, nickel, gold, and diamonds, with exposure across Australia, Latin America, Europe, and Africa. Wozniak will chair the Company's Project Steering & Technical Committee.

Bruno Lagomarsino Takes the Chair

Giancarlo Bruno Lagomarsino has assumed the role of Independent Non-Executive Chair with immediate effect. A Chilean national and mechanical engineer by training, Bruno Lagomarsino brings 35 years of experience in executive mining management focused on Chile's copper sector. He served as Chief Executive Officer of Mantos Copper SA, the operator of the Mantos Blancos and Mantoverde mines, prior to that company's combination with Capstone Copper. He has served as a Non-Executive Director of Marimaca Copper since 2023.

Michael Haworth, who served as Non-Executive Chair and previously as Executive Chair from February 2020 to April 2021, steps down from the Chair role but remains on the Board as a Non-Executive Director and assumes the role of Chair of the Audit Committee.

Outgoing Non-Executive Chair of Marimaca Copper, Michael Haworth, commented on the new appointments:

"We are delighted to welcome Zenon to the Marimaca Board. His extensive experience in developing world-class copper mines at First Quantum, one of the world's leading copper producers and mine builders, will be a tremendous asset as we advance the MOD toward a construction decision and continue to build the organisational and governance capability required to deliver the next major copper mine in Chile. We are also thrilled to welcome Giancarlo Bruno as the new Board Chair. Giancarlo's extensive experience in Chilean copper development and operations will be invaluable as we progress through the development of the MOD. I will be working closely with Giancarlo as he transitions to his new role and look forward to continuing to support the Company as a Non-Executive Director through this next phase of development."

Founding Directors Step Down

The board changes also include the retirement of two Non-Executive Directors: Alan Stephens and Clive Newall, both effective 27 March 2026.

Stephens co-founded Coro Mining in 2005, contributing the geological expertise and knowledge of Chilean copper exploration described as foundational to the Company's early success. Newall's experience was drawn from building First Quantum Minerals into a global copper major, a background described as instrumental in guiding Marimaca over the past five years as it made the transition from explorer to developer.

On their departures, Haworth added:

"On behalf of the entire Board and management team, I would like to sincerely thank Alan and Clive for their outstanding contributions to Marimaca during their tenure. Alan and Clive were instrumental in building this Company from the ground up. Their collective contribution to Marimaca is immeasurable and I wish them the very best in their retirement."

The Next Steps

With the board restructure now in place, Marimaca Copper's stated near-term focus is advancing the MOD toward a construction decision. Wozniak's appointment to chair the Project Steering & Technical Committee places his mine-building experience at the centre of the technical programme. Bruno Lagomarsino's elevation to Board Chair, alongside Haworth's continued presence as a Non-Executive Director and Audit Committee Chair, provides both strategic continuity and deepened Chilean operational expertise as the Company enters what it describes as the next major phase of development.

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