https://www.engineeringnews.co.za

Codelco top brass seek to reassure market after CEO quits

19th June 2023

By: Reuters

  

Font size: - +

SANTIAGO - Chilean state miner Codelco, the world's largest copper producer, said Friday it would stick to its strategy and operations in a bid to reassure markets following the surprise resignation of its well-known chief executive.

The statement, signed by Codelco's board of directors and main executives, came after CEO Andre Sougarret said this week he would leave the post at the end of August, citing personal reasons and "complexities" facing the miner.

The board and executives said Codelco;'s strategy would keep the organisation "mobilised around our common purpose" regardless of leadership changes.

The statement also highlighted a series of "structural projects" Codelco has been developing to compensate for declining outputs at its mines.

It also stressed the progress made over the past year implementing its strategy to address challenges.

Codelco has been shaken by a series of production problems, accidents and climate events, which in 2022 brought its production to the lowest in a quarter of a century.

The resignation of Sougarret, a respected engineer who gained prominence leading the rescue of 33 miners trapped at the San Jose mine in 2010, adds pressure on the company, which since April has also been tasked with developing Chile's lithium industry.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sulzer Pumps (SA) (Pty) Ltd
Sulzer Pumps (SA) (Pty) Ltd

Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.05 0.857s - 140pq - 2rq
Subscribe Now