Codelco expects to lift copper output by 10 000 t this year
RIYADH - Chilean State-run miner Codelco is expected to produce 1.344-million metric tons of copper in 2026, up about 10 000 tons from last year, Chairman Maximo Pacheco said on Monday.
Speaking to Reuters on the sidelines of the Future Minerals Forum in Riyadh, Pacheco said that Codelco, the world's largest copper producer, achieved copper output of 1.33-million tons in 2025. It also produced 100 000 tons in partnerships with other companies.
"Our strategy has been to find copper and develop structural projects to expand and extend the life of our copper mines, so that's where we've been investing our capital," Pacheco said, adding that the company plans to invest $150-million in exploration in 2026.
Several of Codelco's mines are undergoing overhauls to counteract a decline in ore grades while problems and delays at some of its big projects have pressured the company's finances.
The company has about $24-billion of debt, which has been increasing because of its $5-billion of annual capital expenditure, Pacheco said.
Codelco also needs to reinforce operations at flagship mine El Teniente, where production was hit by a deadly accident last July.
An internal Codelco document seen by Reuters showed that El Teniente's annual output dropped 13% from 2024 to 310 100 tons.
Pacheco added that the company's joint lithium venture with Chile's SQM SQMA.SN is expected to produce 250 000 tons in 2026, up from 230 000 tons last year.
"Our first commitment is to increase lithium production with new technologies, using less water and less brine," he said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.
VISIT SHOWROOM
For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
