What is Chile's Finance Minister Jorge Quiroz's stated position on introducing private capital into Codelco?

Finance Minister Jorge Quiroz stated that the government seeks for Codelco to enter into partnerships and 'perhaps bring in private capital at some point, but never to cease being a company controlled by the state,' emphasizing pragmatism and the need to move the company forward.

Why is privatizing Codelco politically sensitive in Chile, according to the news body?

Codelco is considered near-sacred in Chile’s political history because it was created in the 1970s after nationalizing copper mines from US companies, becoming a symbol of economic sovereignty—and it remained state-owned even during Augusto Pinochet’s widespread privatizations, making any move toward privatization a highly contentious breach of longstanding consensus.

Chile Finance Minister Floats Idea of Private Capital at Codelco

Jul 30, 2026

Chile's government is considering introducing private capital into state-owned copper miner Codelco to manage debt and boost output, sparking political debate over partial privatization.

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