Codelco, building the new Chilean mining industry
Codelco is the world’s largest copper producer and the company that most contributes to the Chilean economy. In 2014, it produced 10% of all mined copper in the world and 31% of the production in Chile, with 1 million 841 thousand tons (including its shares in El Abra and Anglo American Sur).
It is also the second largest producer of mined molybdenum, with a total production of 30,628 thousand fine metric tons in 2014.
A 100% state-owned company, it has the highest level of copper reserves and resources known on the planet. The estimated mineral resources of the Corporation allow it to project its exploitation to over 70 years, which shows the strength of its mining base.
Codelco is the company with the highest investment in Chile. It is carrying out the largest investment program in its history, aimed at transforming the large reserves of its deposits into surplus for the State of Chile.
For the 2015-2019 period, the company will allocate US$22,000 million in its investment plan. Only in 2014, it invested US$3,364 million in its portfolio of pre-investment studies and projects.
Technological research and innovation
Innovation is critical to maintain Codelco’s global leadership within the copper industry. The most important technology programs include continuous underground mining, open pit mining, ore processing, bioleaching of sulfide ores; plus information, communication and automation technologies.
Also, together with the International Copper Association (ICA), it promotes and creates new uses for copper, especially those that enhance its antimicrobial properties.
Codelco has implemented a new vision of sustainability in its mining operations. In recent decades, the company has made consistent investment, which has transformed the way the company has been managed.
Codelco reaches to the communities surrounding its operations and, in collaboration with them, it determines actions that contribute to their development.
Its social responsibility is implemented through the development of education-, environment- and entrepreneurship-related innovations.
Codelco is currently building six mega-projects that are at various stages of development:
Ministro Hales: the first structural project built. Location, Calama, Region of Antofagasta. Start-up 2014
Exploitation of sulfides Radomiro Tomic Phase II: this development will allow the company to exploit the deep sulfides of its Radomiro Tomic Division. Location, Calama, Region of Antofagasta.
Beginning of start-up 2018-2019
Chuquicamata Underground Mine: the world’s largest open pit mine will be transformed into an underground mine. Location, Calama, Region of Antofagasta. Start-up: 2019
The new El Teniente Mine level: a new exploitation level is being built in the El Teniente Division. Location: Machalí, Libertador Bernardo O’Higgins Region.
Rajo Inca: the remaining resources of the Indio Muerto ore deposit, to continue the operations of its Salvador Division. Location: El Salvador, Atacama Region.
Andina Expansion: current operations will be expanded to extend the useful life of its Andina Division. Location: Los Andes, Valparaíso Region.