Strong foundations, clear targets for 2026
Innovation drove strong progress for Montero Mining across its business and exploration activities in 2025. CEO Dr Tony Harwood outlines how Montero is carrying this momentum into 2026 and highlights the company’s current exploration focus.
Q: 2025 was a strong year for Montero. How does the company plan to build on that foundation in 2026?
A: 2025 was a pivotal year for Montero. It was, marked by a shift toward more disciplined early-stage exploration, faster decision-making, and strong capital management. The company reviewed multiple projects to complement its Avispa copper–molybdenum project and expand its Chilean portfolio, supported by the formal integration of artificial intelligence (AI) and machine learning into its exploration workflow.
Montero also finalised a landmark US$27 million settlement with the Government of Tanzania, resolving a dispute and strengthening its balance sheet. In July, the company returned C$15 million directly to shareholders, underscoring its commitment to capital discipline and value creation.
Entering 2026, Montero is applying this same discipline to advance its exploration portfolio, with technical teams working towards making drill-ready decisions across its Chilean projects.
Geophysical surveys are under way at Montero’s Potrero project in northern Chile, contributing to the exploration dataset
Q: Montero advanced the use of AI in exploration last year. How are AI and data science underpinning the company’s exploration approach?
A: Advances in data science have allowed Montero to move from intuition- and experience-led assessments to more structured, evidence-based technical evaluations. The company applies machine learning models to large, multi-source datasets, including geological mapping, geophysics, geochemistry, and historical exploration data, to assist in identifying geological patterns associated with large mineral systems.
A strict data-discipline framework ensures that only validated, high-quality data informs these models.
These tools support technical teams by accelerating analysis, improving target prioritisation, and help focus our field programmes more efficiently.
Q: What should stakeholders expect to see from Montero in the first quarter of 2026?
A: In the first quarter of 2026, Montero will be focused on progressing high-quality targets towards drill-ready decisions. This includes continued field validation, refinement of AI-generated targets, and integration of new data as it becomes available.
This work is aimed at defining drill-ready targets, representing the next stage in the company’s exploration programme. Drilling remains the ultimate validation of both the geological model and the AI-assisted exploration strategy.
Exploration results are assessed systematically, allowing the company to make timely, evidence-based technical decisions on next steps.
Q: What broader themes are guiding Montero’s strategy in 2026?
A: The overarching theme for 2026 is disciplined, technology-enabled exploration combined with strong capital management. The resolution of the Tanzania matter and the return of capital to shareholders demonstrate Montero’s commitment to creating value both through discovery and prudent financial decisions.
As drilling gets under way, Montero will continue to combine experienced geological judgement with AI and machine-learning tools to refine geological and mineralisation models. This approach supports efficient follow-up work and timely technical decision-making.
Q: Why does Chile remain central to Montero’s growth strategy?
A: Chile offers a stable mining jurisdiction, strong infrastructure, and a deep pool of mining expertise. Recent political changes have reinforced this confidence. Combined with Montero’s disciplined approach to exploration and its use of modern analytical tools, Chile provides an ideal environment to advance projects efficiently from concept to drill testing and, ultimately, discovery.
Q: How will Montero advance its projects on the ground in Chile during 2026?
A: On the ground, Montero is applying its AI-enabled evaluation framework to rapidly prioritise targets across Avispa and newly acquired projects in the Maricunga Belt. By integrating mapping, geophysics, geochemistry, and historical data, the team has narrowed large licence areas to focused target zones.
This work supports the efficient allocation of time and capital by concentrating efforts on the most technically compelling areas identified through systematic evaluation.
Q: Why did Montero pursue an additional listing in Frankfurt?
A: The Frankfurt listing was pursued to broaden Montero’s shareholder base and improve accessibility to the company’s shares for European investors.
It complements the company’s existing listings and reflects growing international interest in Montero’s exploration strategy, disciplined capital management, and focus on near-term drill decisions.