COMOTECH, a shareholder-owned corporation, was organized under the laws of Chile on November 23, 2007 in partnership with Molymet (Molibdenos y Metales S.A.), Universidad de Chile, and Copper Technology Investments, Inc., a Codelco subsidiary.

COMOTECH’s mission is to increase molybdenum demand and value through research and technological innovation in order to develop markets, devise and transfer new or improved applications, all the while generating earnings.

COMOTECH develops a range of activities within the following framework:

• Prospecting for high tech applications for molybdenum
• Market research
• Development of research projects leading to appropriable development
• Increase capabilities.
• Business unit development and PI protection

COMOTECH milestones during 2008 include a molybdenum market prospecting program, conducted through SMR, the Austrian steels and metal market research company, that was co-financed by the Government of Chile through Innova Chile and its foreign market studies program; a worldwide call for proposals for new uses for molybdenum that was launched in conjunction with the International Molybdenum Association (IMOA) through the Center for Advanced Interdisciplinary Research in Materials (CIMAT); and a global prospecting program for molybdenum uses in Chile, run jointly with the Universidad de Chile, CINTAC and OXIQUIM, that was likewise co-financed by Innova Chile through its transfer of technology program launched by the mining cluster.