LatinNews Daily - 05 November 2025

*Chile’s state-owned copper mining company Codelco has announced that its copper production totalled 937,000 tonnes (t) between January and September, marking an increase of 19,000 t (+2.1%) on the same period of 2024. This increase was achieved despite a deadly accident at the major El Teniente mine in July, which forced a halt in operations. Codelco stated that after the accident it launched a safe return plan, developed in coordination with unions and contractors, including immediate measures to strengthen critical controls and align safety behaviours. The company notes that the accident led to a drop in production in the second quarter. Earnings before interest, tax, depreciation, and amortisation (Ebitda) totalled US$4.16bn at the end of the third quarter, an increase of 3.4% compared to the same period of 2024. Codelco attributed this rise to the higher price of copper and some by-products such as molybdenum and gold. The company noted “significant progress” in new businesses, such as the signing of a definitive agreement with British multinational mining company Anglo American to jointly operate the Los Bronces and Andina mines, an exploration agreement with Australian company BHP with regards to the Anillo mining project, and its partnership with the private Chilean company Sociedad Química y Minera de Chile SA (SQM), the world’s second largest lithium producer, to develop lithium in the Atacama salt flats.

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