What were Codelco's first-half 2026 pre-tax profit and year-on-year change, and what was the main driver behind the increase?

Codelco reported a pre-tax profit of $1.97 billion for the first half of 2026, up more than fourfold from $429 million in the same period a year earlier; the main driver was a sharp rise in its realized copper price to 653.2 cents per pound from 461.7 cents per pound, which more than offset weaker production and higher costs.

By how much did Codelco's copper production decline in the first half of 2026, and what were the primary causes cited in the report?

Codelco's copper production fell 11% to 564,000 metric tons in the first half of 2026, down from 634,000 tons a year earlier, mainly due to operational restrictions at El Teniente, lower output at Chuquicamata, and weaker ore grades at Ministro Hales.

Chile's Codelco posts stronger profit on copper rally as mine disruptions drag on output

Aug 28, 2026

Codelco reported a fourfold rise in first-half pre-tax profit to $1.97 billion as copper prices surged, though production fell 11% due to mine disruptions. CEO Jorge Gomez prioritizes restoring productivity following operational setbacks at key sites.

reuters

2026-08-14

Codelco Overhauls Management Team as New CEO Seeks Turnaround

2026-08-28

Chile's Codelco posts stronger profit on copper rally as mine disruptions drag on output

Chile's Codelco posts stronger profit on copper rally as mine disruptions drag on output

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