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Codelco

Codelco is Chile's state-owned copper mining company and the world's largest copper producer by output. Headquartered in Santiago, the company operates entirely within Chile, managing a portfolio of major mining divisions including Chuquicamata, El Teniente, Andina, Radomiro Tomic, Ministro Hales, Gabriela Mistral and Salvador. The company is wholly owned by the Chilean government through the Corporación Nacional del Cobre de Chile and operates under the supervision of the Ministry of Mining. Codelco accounts for a significant share of global copper production, typically producing more than 1.5-million tonnes of copper a year, and contributes substantially to Chile's export revenues and fiscal income. The company employs tens of thousands of workers directly and supports extensive contractor workforces across its operations. Codelco's operations span underground and openpit mines, smelters and refineries, producing refined copper cathodes, concentrate and by-products including molybdenum, gold and silver. The company has embarked on a multibillion-dollar structural investment programme to sustain production through mine-life extensions and the development of new underground projects beneath ageing openpit operations. Codelco was established in 1976 following the nationalisation of Chile's large-scale copper mines in 1971, consolidating assets previously operated by foreign companies into a single state enterprise that has since become a cornerstone of the Chilean economy.

Codelco Updates


LITHIUM EXTRACTION: Chilean mining companies Codelco and SQM are budgeting $3-billion to deploy new extraction technologies at their lithium joint venture in the Atacama Desert. Bloomberg reports that the companies’ Novandino Litio partnership set its latest projection after wrapping up design work on a project to introduce more direct ways to recover lithium from brine under the Atacama salt flat in northern Chile. The venture plans to submit an environmental impact study to regulators in June. Photograph: Bloomberg
LITHIUM EXTRACTION:
5th June 2026

Chilean mining companies Codelco and SQM are budgeting $3-billion to deploy new extraction technologies at their lithium joint venture in the Atacama Desert. Bloomberg reports that the companies’... 


Codelco's El Teniente mine
Chile's Codelco copper giant names Jorge Gomez as new CEO
4th June 2026 By: Reuters

Chile's embattled State copper giant Codelco named Jorge Gomez as its new CEO on Wednesday as the company continues to deal with fallout following a scandal over inflated production figures. In a... 


Codelco and SQM's lithium joint venture project in Chile
Codelco, SQM budget $3bn for lithium project in Chile
27th May 2026 By: Bloomberg

Chilean mining companies Codelco and SQM are budgeting $3-billion to deploy new extraction technologies at their lithium joint venture in the Atacama Desert. The companies' Novandino Litio... 


An SQM mine
SQM boosts lithium guidance as earnings top estimates
27th May 2026 By: Bloomberg

Chilean copper miner SQM reported a sharp increase in first-quarter profit and raised its lithium sales forecast, betting that robust demand from battery storage systems will keep the market... 


Antofagasta's Los Pelambres mine, in Chile
Strong Chile earthquake shakes mining hub, but damage is minimal
26th May 2026 By: Reuters

A strong earthquake struck Chile's important mining region of Antofagasta on Monday afternoon, disrupting operations at some mines but ultimately sparing lives and critical infrastructure,... 


Codelco's offices
Chile taps new chair for copper miner Codelco amid production, debt concerns
15th May 2026 By: Reuters

Chile's government on Thursday tapped Bernardo Fontaine to replace Maximo Pacheco as chairperson of the world's largest copper producer, State-run Codelco, giving the economist and executive a key... 


Codelco's El Teniente mine
Copper output from Chile's Codelco down 10% in March
12th May 2026 By: Reuters

SANTIAGO – Copper production from Chilean State-run miner Codelco fell 9.98% year-on-year in March to 110 900 metric tons, data from copper commission Cochilco showed on Tuesday. Production at... 


El Teniente copper mine, in Chile
Chilean copper miner Codelco, contractors fined after deadly mine collapse
13th April 2026 By: Reuters

Chilean State copper miner Codelco was fined by labor authorities after last year's deadly collapse at its El Teniente mine, while three contractors whose workers were killed or injured were... 


Los Bronces (left) and Andina (right)
Chile clears Codelco–Anglo American joint mining plan
30th March 2026 By: Mariaan Webb

Copper major Codelco and diversified miner Anglo American have received approval from Chile’s antitrust regulator for their planned joint operation of the adjacent Andina and Los Bronces mines.... 


Executive chairperson Máximo Pacheco
Codelco sees war disruptions adding 5% to cost of making copper
30th March 2026 By: Bloomberg

Top copper supplier Codelco expects disruptions from the Middle East war to lift its production costs by about 5%, offering one of the first quantified inflation estimates from a major mining... 


Codelco logs $4.85bn pre-tax profit in 'very difficult' 2025
Codelco logs $4.85bn pre-tax profit in 'very difficult' 2025
27th March 2026 By: Reuters

Chilean state-owned Codelco, the world's largest copper producer, on Friday reported a pre-tax profit of $4.85-billion in 2025. The company, which remits all its profits to the government,... 


Chile's government sacks head of State miner ENAMI
27th March 2026 By: Reuters

The Chilean government said on Thursday that it had removed the head of state miner Enami, Ivan Mlynarz. The company advisory sent to the local securities regulator was signed by Javiera Estrada,... 


Large native copper nugget
El Abra copper mine expansion, Chile – update
27th March 2026 By: Sheila Barradas

Freeport-McMoRan has started the process of obtaining an environmental permit for the expansion. 


Freeport to seek permit for $7.5bn mine expansion, Chilean media reports
Freeport to seek permit for $7.5bn mine expansion, Chilean media reports
19th March 2026 By: Reuters

US miner Freeport-McMoRan has begun the process of obtaining an environmental permit for a $7.5-billion expansion of its El Abra copper mine in Chile, the company said on Thursday. The project is... 


Codelco monthly output dives, sowing doubts about validity of end-2025 production spike
Codelco monthly output dives, sowing doubts about validity of end-2025 production spike
18th March 2026 By: Reuters

Chile's State-owned copper giant Codelco has reported a sharp drop in production to start this year, leading copper industry analysts and former Codelco executives to question its reports of... 


Lithium producer SQM sees global demand growing 25% this year
Lithium producer SQM sees global demand growing 25% this year
2nd March 2026 By: Bloomberg

Top lithium producer SQM said it sees world demand for the battery metal growing about 25% this year, after reporting record quarterly sales volume as the industry emerges from a global glut. The... 


El Teniente
Copper miner Codelco sacks executives after El Teniente audit
16th February 2026 By: Reuters

Chilean state copper miner Codelco on Friday removed three senior executives linked to its El Teniente division, the site of a deadly collapse last year, after an internal audit found... 


Vale Base Metals CEO Shaun Usmar
Vale eyes 1Mt/y copper output
6th February 2026 By: Bloomberg

Vale’s base metals unit wants to eventually produce one-million tons of copper by developing existing assets, exceeding an output target for 2035. Major mining firms such as Anglo American and Rio... 


Vale Base Metals CEO Shaun Usmar
Vale’s copper ambition is to produce 1Mt/y
21st January 2026 By: Bloomberg

Vale’s base metals unit wants to eventually produce one-million tons of copper by developing existing assets, exceeding an output target for 2035. Major mining firms such as Anglo American and Rio... 


Codelco expects to lift copper output by 10 000 t this year
Codelco expects to lift copper output by 10 000 t this year
13th January 2026 By: Reuters

Chilean State-run miner Codelco is expected to produce 1.344-million metric tons of copper in 2026, up about 10 000 tons from last year, Chairman Maximo Pacheco said on Monday. Speaking to Reuters... 


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