Cees ´t Hart

Good morning, ladies and gentlemen. It’ 10 a.m., so I propose that we open this meeting. Welcome. I’m Cees ´t Hart. I Chair the Supervisory Board, and I’m pleased to open this Annual General Meeting of Shareholders and welcome you all. I’m also pleased to welcome those following this meeting online.

Today, all members of the Executive Board are present. From left to right, they’re seated at the table, our COO, Jesus Echevarria; our CHRO, Myriam Beatove, CFO; Jorge Vazquez and our birthday boy, Sander van ‘t Noordende. And we hope that you’ll join us for coffee on his behalf. I’m not going to sing happy birthday because I’m not sure what the result would be, but welcome, but welcome Sander van ‘t Noordende on behalf of the Supervisory Board, alongside myself. From left to right, the Audit Committee Chair, Laurence Debroux, the Remuneration Committee Chair, Annet Aris and Jeroen Drost. The other members of the Supervisory Board are attending the meeting online. Also with us this morning is

Also with us this morning is Jacobina Brinkman from the accountancy firm,PricewaterhouseCoopers at 2D adoption of the 2025 financial statements. She’ll be happy to answer questions concerning the financial statements. Previous — prior to this, she’ll deliver a brief explanation about the annual audit process and the auditor’s report. We also have with us the Company Secretary, Jelle Miedema, who I hereby appoint as Secretary of the meeting and will first explain some procedural matters.

Mumbai: The yield on the 10-year benchmark government bond jumped seven basis points to close at 6.94% Friday, as the cut in fuel excise duty clouded fiscal outlook, intensified by high state bond supply and increasing oil prices.

The yield rose more than 20 basis points this week, the most since May 2022, LSEG data showed.

The 10-year bond opened at 6.93% and traded in a range of 6.95% to 6.90%, according to Clearing Corporation of India data.

“The opening and follow-up action both were weak today. One would have expected some demand to emerge after yields touched 6.95%, but there was no retracement,” said Vijay Sharma, senior executive vice-president at PNB Gilts.
Traders are finding it hard to call specific levels in this kind of volatility, especially with the West Asia war ongoing and oil prices staying elevated.

Brent crude oil prices rose by $1.87, or 1.73%, to $109.88 a barrel, LSEG data showed.
“We cannot project future levels in such volatile conditions, and we do not know what will happen overnight,” Sharma said. Bonds are also under strain as states sold debt worth nearly ₹1 lakh crore during the week, amid waning investor demand.

Financial institutions are expected to face mark-to-market losses as the benchmark yield has increased more than 30 basis points this quarter, from 6.60% on January 1.

Many dealers no longer expect the yield to fall to the 6.75% level, even if the West Asia war ends, which is the best-case scenario.

The Federal Trade Commission warned four leading payment processors against denying customers access to financial services due to their political or religious views.

The letters, sent by FTC Chair Andrew Ferguson to the chief executives of

Mastercard

MA

-3.30%

decrease; red down pointing triangle, Visa V -3.28%decrease; red down pointing triangle, PayPal PYPL -3.56%decrease; red down pointing triangle and Stripe, cited President Trump’s August executive order on “debanking,” which Ferguson said “makes clear that it is unacceptable to debank law-abiding citizens due to ‘political affiliations, religious beliefs, or lawful business activities.’”

Unknown Executive

To all the people that are today — that are outside the room. Please enter the room. We also welcome those that right now are listening through YouTube and watching through the YouTube channel, we will be starting momentarily.

Very well. So we will begin our assembly. First of all, we invite you to look at the following video that summarizes what — welcome — what Mineros is as a company.

[Presentation]

Unknown Executive

We were born in 1974 with our operation in Colombia. From that beginning, we had as a purpose to generate wellbeing for all through responsible and well-made mining, development and progress stories are stars of a journey, which is built with hard, with tangible facts that convey your commitment to sustainability, more than 50 years of history, learning and achievements that give us legacy of communities, family and the regions where we have presence. According to the new direction of growth that we set back then in 2013, we acquired Hemco in Nicaragua which allowed us to increase annual production and to continue bringing the very best of our mining model to new geographies, with new talent, capabilities and ways of doing things. We continue strengthening our presence in LatAm.

In 2021, we listed in FX, in Toronto, in — being the first company in Colombia to be listed in Toronto. In 2024, Sun Valley Investments enters as the main shareholder, opening a new horizon and new opportunities for growth and learning.

In 2025, we acquired 100% of the La Pepa Project in Chile, a new growth

A reported “strong smell” at a key air traffic control facility disrupted flights Friday evening at major airports across the Washington, D.C. region for the second time in two weeks.

The Federal Aviation Administration (FAA) temporarily halted flights at Ronald Reagan Washington National Airport (DCA), Washington Dulles International Airport (IAD), Baltimore/Washington International Airport (BWI), Charlottesville–Albemarle Airport (CHO), and Richmond International Airport (RIC), the agency told FOX Business in an email.

The FAA said the disruptions were due to a “strong smell” at the Potomac Terminal Radar Approach Control (TRACON) facility, which manages airspace in the region.

GROUND STOP LIFTED AT MAJOR DC-AREA AIRPORTS AFTER CHEMICAL ODOR DISRUPTS AIR TRAFFIC CONTROL

It was not immediately clear what caused the smell.

Ground stops at Dulles, Reagan National, and BWI remained in effect until around 8 p.m. ET before being lifted, according to the FAA’s website.

NEWARK AIR TRAFFIC CONTROLLERS LOST RADAR, RADIO COMMUNICATIONS WITH PLANES FOR OVER A MINUTE, SPARKING CHAOS

As of 8:30 p.m., Reagan National was experiencing ground delays, while BWI continued to see departure delays.

Earlier this month, a ground stop was similarly issued at several airports in the Washington, D.C., region after a chemical odor was detected at the TRACON facility.

FATAL LAGUARDIA COLLISION RENEWS FOCUS ON RUNWAY INCURSION RISKS ACROSS US

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The temporary ground stop on March 13 similarly affected DCA, IAD, BWI and RIC, Transportation Secretary Sean Duffy said at the time.

Duffy said the smell came from an overheated circuit board, which has since been replaced.

Mumbai: The Indian rupee fell to a record on Friday, breaching the 94-per-dollar mark for the first time and teetering on the brink of 95, as surging crude oil prices weighed on the currency over fears that the Gulf war shows little sign of ending soon. Indian equities also got mauled-indices tumbled over 2% on Friday, marking a fifth consecutive week of declines-the longest losing bout since August-as investors remained wary despite US President Donald Trump extending the pause on attacks on Iran’s power plants by 10 days.

Weak global cues and concerns over oil prices weighed on sentiment, with analysts warning of further near-term declines. In the event of the conflict continuing to rage unchecked amid subdued central bank intervention, some traders are expecting the Indian currency to sink even further. The rupee closed at 94.81 to the dollar on Friday, weakening 84 paise from its previous close of 93.97. The rupee weakened to 94.85 at its lowest on Friday and has declined over 3.5% this month, LSEG data showed. Brent crude oil prices rose by $1.87, or 1.73%, to $109.88 a barrel. While state-run banks sold dollars, likely on behalf of the central bank, the intervention was muted, traders said.

Strait Closure Taking Toll
That makes the rupee vulnerable to further depreciation, with many traders incorporating levels as weak as 97 per dollar into their forecasts. “Nothing really changes until the Strait of Hormuz opens up,” said Anindya Banerjee, head of commodity and currency at Kotak Securities. “Even if the intensity of the war eases a bit, as long as there’s still friction around the strait and oil is hovering near $115, the rupee could easily drift towards the 96 to 97 per dollar range.”

The NSE Nifty closed at 22,819.60, down 486.85 points or 2.1%, while the BSE Sensex ended at 73,583.22, falling 1,690.23 points or 2.3%. Both indices declined 1.3% over the past week. The Volatility Index (VIX) urged 8.7% to a four-year high of 26.8, reflecting heightened near-term risk expectations.

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