Luksic Group

The words spoken by Andrónico Luksic Abaroa at the end of his career reflect the entrepreneurial spirit with which he intensely lived his 78 years. A story he forged as he traveled through the desert aboard a pickup truck, always carrying a pickaxe and a mining helmet, exploring in search of opportunities that would be “a source of progress for future generations.”

Besides finding copper ores, he also innovated and developed several companies that, together with the efforts of thousands of employees, have contributed since the 1950s to the progress of Chile and the other countries where his companies operate.

Since then and until 2002, when he opted to retire from executive positions and leave them in the hands of his children, he built one of the most diversified and successful business groups in the country.

In the 1960s, the Group made its first investments in industries other than mining, taking advantage of growth opportunities in key sectors of the Chilean economy, such as copper processing, electric power distribution, manufacturing, transport, agriculture, food processing and forestry.

In the 1970s, the Luksic Group expanded its activities to Argentina, Colombia and Brazil, participating in metal manufacturing, agriculture and automotive sales, among others. In the following decade, expansion would come hand in hand with diversification into the telecommunications, banking, hotel, railway, food and beverage sectors.

In 1996, the Group’s ownership structure was reorganized. All financial and industrial investments were placed under the control of Quiñenco, while mining and railways remained with Antofagasta plc. This new structure simplified control and opened the doors to the capital markets for Quiñenco.

In recent years, Quiñenco has further internationalized its activities. Today it operates in more than 120 countries on five continents through its main operating subsidiaries and associates.

In mining, through Antofagasta Minerals, the group is Chile’s leading private player in large-scale copper mining with the Los Pelambres, Centinela, Antucoya and Zaldívar deposits. It operates in the United States with the Twin Metals project in Minnesota and in Peru with the Buenaventura project.

Quiñenco, meanwhile, is engaged in the financial sector (Banco de Chile), beverages and beer (Compañía Cervecerías Unidas), manufacturing (Nexans), energy (Enex, Shell’s licensee in Chile), transport (Compañía Sud Americana de Vapores, Hapag-Lloyd), and port services (SM SAAM).

The Luksic Group is also a major player in Croatia’s tourism sector.