Doña Inés de Collahuasi Posts Strong 2023 Performance with Elevated Copper Production and Profits
In 2023, Doña Inés de Collahuasi, a leading global copper producer owned by Anglo American, Glencore, and Japan Collahuasi Resources, reported impressive performance metrics, underscoring a robust year for the company. The firm produced 573,183 tons of fine copper, a figure that highlights its operational efficiency, especially in the concentrator plant where utilization rates reached 97.8% in the final quarter, peaking at 99% in December.
Collahuasi announced revenues of US$4,648 million with an EBITDA of US$2,961 million for the year. Notably, the company's adherence to cost efficiency has kept it in the first quartile for the lowest costs in the industry, with a recorded cash cost of US$1.27 per pound.
Tax contributions were significant, totaling US$809 million, which included US$203 million in specific mining taxes, marking a 15% increase from 2022. This financial discipline was mirrored in its productivity metrics, with 112.4 tons of fine copper produced per worker per year.
Amid industry challenges including fatal accidents at other major mining firms, Collahuasi emphasized its safety record, achieving an accident frequency rate of 0.03 and maintaining this low level for four years—one of the best globally.
Looking ahead to 2024, Collahuasi's Executive President Jorge Gómez highlighted plans for substantial reinvestment of approximately US$2.2 billion. This funding is earmarked primarily for the continued construction of the C20+ desalination plant, currently 43% complete, and other infrastructure improvements aimed at boosting production capacity. Gómez credits the company’s continued success to the dedication and effort of all its workers and collaborators, who are integral to its operational excellence.
