The copper production of the Chilean state company Codelco will be “closer” to 1.2 million tons this year amid the operational obstacles it faces, the chairman of the board said on Thursday, Bernardo Fontaineat a time when it is going through a controversy over irregularities in the figures of production reported in recent years.
During an extraordinary meeting of shareholders, with the ministers of Finance and Miningthe executive reiterated that the mining company will produce around 1.3 million tons in the next four years, despite the fact that this year the performance will be much weaker.
Fontaine He noted that in 2026 the performance “will be closer” to 1.2 million tons. “That is a figure much lower than what the company had projected in its annual plans for business and development,” he said.
On the other hand, the manager reported that the artificial production detected in his 2024 and 2025 reports would amount to 42,100 tons.
He added that in a second case reported by the company, the impact on inventory would amount to 17,000 tons, equivalent to a range between US$120-140 million.
