What did Codelco Chairman Bernardo Fontaine say about the company's ability to meet its long-standing copper production target of 1.7 million tons?

Codelco Chairman Bernardo Fontaine stated there is 'no possibility' of reaching the previous target of 1.7 million tons within four or five years, effectively ruling out the longstanding goal of returning to pre-pandemic output levels by the end of the decade.

What is Codelco's updated 2026 production guidance, and how does it reflect the company's current outlook?

In March, Codelco delivered a 2026 production guidance range of 1.331 million to 1.357 million tons, reflecting a significantly scaled-back and more realistic assessment of its operational capacity after seven consecutive years of missed projections and ongoing difficulties with aging infrastructure and project setbacks.

Codelco Rules Out Meeting Copper Goals as It Faces Tough Year

Jul 28, 2026

Codelco chairman Bernardo Fontaine confirmed the Chilean miner will miss pre-pandemic output targets due to operational challenges and rising costs. The company seeks private partnerships to address capital constraints amidst global supply tightness driving copper prices higher.

bloomberg

2026-05-14

Chile Appoints New Chairman for Copper Miner Codelco Amid Production and Debt Concerns

2026-07-15

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

2026-07-28

Codelco Rules Out Meeting Copper Goals as It Faces Tough Year

Codelco Rules Out Meeting Copper Goals as It Faces Tough Year

FAQ