Chilean miner Sociedad Punta del Cobre S.A. (Pucobre) is engaged in copper mining properties in Chile's northern Atacama region (III). Its assets include the San José copper concentrator and the Punta del Cobre, Granate and Venado Sur copper mines, which supply raw material for the concentrator; and the Mantos del Cobre mine, operated through a leasing contract, also supplies the plant; and the Biocobre copper cathodes plant. The company also has two projects currently under development: Tovaku, in northern Antofagasta region (II) and El Espino, in Coquimbo region (IV). The company has an option agreement with Codelco to earn a 60% interest in Tovaku, subject to the completion of studies and exploration work. In 2011, Pucobre increased its stake in the El Espino copper-gold project to 100% through the takeover of Toronto-based joint venture partner Explorator Resources Inc. Pucobre was founded in 1989 and is headquartered in Santiago, Chile.