What is Codelco's near-term copper production outlook according to its chairman?

Codelco expects copper production in the coming years to remain 'quite similar to the one it has today', with current output at 1.33 million metric tons in the most recent year, and no clear path to reaching its 2030 target of 1.7 million metric tons annually.

Why has Codelco struggled to increase production, and what structural challenges does it face?

Codelco is recovering from a severe production slump in 2022 and 2023—when output fell to two-decade lows—and its structural projects aimed at countering declining ore grades have faced 'unexpected delays and costs', hindering output growth.

Chile's Codelco expects flat copper output in coming years, chairman says

Jul 15, 2026

Codelco expects copper production to stay flat near current levels through 2030 due to project delays and declining ore grades. Chairman Bernardo Fontaine identified the El Abra mine expansion as a key investment opportunity amidst regulatory scrutiny over past reporting.

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Chile's Codelco expects flat copper output in coming years, chairman says

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