Codelco, the world’s leading copper producer, experienced a notable dip in production, reaching its lowest in 25 years due to operational challenges and delays in key projects. Despite this downturn, company executives are optimistic about a forthcoming recovery in output levels.
Significant developments are underway at the Chuquicamata mine, one of Codelco’s prime sites, with expectations to enhance processing capacity from the current 80,000 metric tons a day to 140,000 tons by 2030. Nicolas Jamett, the underground mine manager, highlighted plans for a month-long shutdown next year to replace the conveyor belt system. This maintenance work is meticulously planned to avoid affecting the mine’s production.
Chuquicamata’s role is pivotal in Codelco’s strategy to rejuvenate its foundational projects to counteract the decline in ore grades. However, these ambitious development efforts have encountered delays, prompting Codelco to caution last August that reaching maximum capacity might be delayed by two to three years.
In a move to address these bottlenecks and propel production forward, Codelco submitted an environmental permit application in January, proposing an additional investment of $720 million in the Chuquicamata site. This investment is aimed at eliminating production constraints and reinforcing the company’s production capabilities in the coming years. 
