Currently viewing Global edition

Codelco losing copper king throne

Chile’s state copper company, Codelco, is likely to be knocked from its long-held throne as the world’s leading copper producer next year, with the company forecasting a plummet in its output from 1.7Mtpa in 2021 to around 400,000tpa by the end of the decade if it cannot execute on its investment plan.

Codelco losing copper king throne Codelco losing copper king throne Codelco losing copper king throne Codelco losing copper king throne Codelco losing copper king throne

Codelco's copper crown is slipping

Codelco's investment options are highly politicised, with the company colloquially referred to as the ‘salary of Chile' given its contribution to the national budget and employment.