LatinNews Daily - 13 November 2023

In brief: Codelco CEO warns of drop in Chile’s copper production

* Rubén Alvarado, the CEO of Chile’s state-owned copper mining company Codelco, has said that copper mining production will close 2023 at around 1.315m tonnes (t), the lowest on record. In an interview with national daily La Tercera, he said that this would increase to 1.340m t in 2024 and to 1.700m t by 2030. The former general manager of Santiago’s metro (2014-2022), Alvarado took over in September from André Sougarret, who resigned in a surprise move, citing “complexities” running the state-owned firm. In the interview with La Tercera, Alvarado, a former general manager of the El Teniente copper mine, situated in O’Higgins Region, noted that he had taken over as the firm is facing difficulties which the newspaper lists as production being in free fall, increasing costs, and high levels of debt.

Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.