Codelco, Chile’s state-run copper giant, is striving to recover its production levels, currently at a 25-year low. CEO Ruben Alvarado reported an 8.4% drop in production during the first half of the year but expressed optimism about a turnaround, aiming to end 2024 slightly above last year’s output.
Codelco has set a goal to progressively recover production to reach 1.7 million tons annually by 2030. Alvarado mentioned that during a recent meeting with Saudi Arabian mining officials, there was interest in Codelco’s Maricunga lithium project and potential collaborative opportunities.
Codelco remains open to partnerships with international governments as it seeks to stabilize and enhance its production capabilities.
Codelco Aims to Recover Copper Production Levels