Editing Codelco (section)

{{Short description|Chilean copper company}}
{{Infobox company
| name          = Corporación Nacional del Cobre de Chile
| logo          = Codelco logo.svg
| type          = [[State-owned enterprise]]
| foundation    = (1955)
| location      = [[Santiago, Chile]]
| key_people       = '''[[Máximo Pacheco (politician, born 1953)|Máximo Pacheco]]'''<br /><small>[[President (corporate title)|president]] of the [[Board of directors|board]]</small><ref name=bio1jul2022/><br />'''[[André Sougarret]]'''<br /><small>[[President (corporate title)|president]] [[Chief Executive Officer|CEO]]</small><ref name=bio1jul2022>{{Cite news |title=Codelco fundamenta cierre de Ventanas, pero alude que siempre se les apuntó por sobre otras empresas |url=https://www.biobiochile.cl/noticias/economia/negocios-y-empresas/2022/07/01/codelco-fundamenta-cierre-de-ventanas-pero-alude-que-siempre-se-les-apunto-por-sobre-otras-empresas.shtml |last=Reyes |first=Verónica |date=2022-07-01 |pages= |access-date=2022-07-01 |work=[[Radio Bío-Bío]] |language=Spanish}}</ref>
| num_employees = 17,880
| revenue       = {{profit}} US$16.0 billion (2010)
| net_income    = US$5.249 billion<ref>{{Cite web|url=https://www.codelco.com/us-5-249-millones-genera-codelco-entre-enero-septiembre-casi-cuatro/prontus_codelco/2021-10-29/112151.html|title = US$ 5.249 millones genera Codelco entre enero-septiembre, casi cuatro veces más que en el mismo período de 2020}}</ref>
| industry      = [[Mining]]
| products      = [[Copper]]
| homepage      = {{URL|https://www.codelco.com/}}
}}
The '''National Copper Corporation of Chile''' ({{langx|es|Corporación Nacional del Cobre de Chile}}), abbreviated as '''Codelco''', is a Chilean [[state-owned corporation|state-owned]] [[copper mining]] company. It was formed in 1976 from foreign-owned copper companies that were [[nationalised]] in 1971.<ref name = "Rep2007">{{Cite web |url=http://www.codelco.cl/english/la_corporacion/memorias/memoria2007/pdf/CodelcoInstitucional07english.pdf |title=''Codelco 2007 Annual Report '' |access-date=2008-08-12 |archive-date=2011-07-07 |archive-url=https://web.archive.org/web/20110707010544/http://www.codelco.cl/english/la_corporacion/memorias/memoria2007/pdf/CodelcoInstitucional07english.pdf |url-status=dead }}</ref> As of 2023 its most productive mines are [[Radomiro Tomic mine|Radomiro Tomic]] and [[El Teniente]].<ref name=anuario2024/><ref name=five>{{Cite web |title=The five largest copper mines in operation in Chile |url=https://www.mining-technology.com/marketdata/five-largest-copper-mines-chile/?cf-view |date=2024-06-24 |access-date=2025-04-12 |website=Mining Technology}}</ref> Since 2024 Codelco is also a lithium mining company after an agreement was reached with [[Sociedad Química y Minera]] which exploits brine from [[Salar de Atacama]].<ref>[https://www.dw.com/es/codelco-y-sqm-acuerdan-explotar-litio-hasta-2060-en-chile/a-69239144 Codelco y SQM acuerdan explotar litio hasta 2060 en Chile]</ref>

The headquarters are in [[Santiago]] and the seven-man board of directors is appointed by the President of the Republic. It has the Minister of Mining as its president and six other members including the Minister of Finance and one representative each from the Copper Workers Federation and the National Association of Copper Supervisors.<ref name="Rep2007" />

It is currently the largest copper producing company in the world and produced 1.66 million tonnes of copper in 2007, 11% of the world total.  It owns the world's largest known copper reserves and resources.  At the end of 2007 it had a total of [[Mineral Resource Classification|reserves]] and [[Mineral Resource Classification|resources]] of 118 million tonnes of copper in its mining plan, sufficient for more than 70 years of operation at current production rates.   It also has additional identified resources of 208 million tonnes of copper, though one cannot say how much of this may prove economic.<ref name=Rep2007 />

Codelco's principal product is [[cathode]] copper.  It is also one of the world's largest [[molybdenum]] producers, producing 27,857 fine metric tons in 2007, and is a large producer of [[rhenium]], of which Chile is the world's largest producer.<ref name=Rep2007/><ref>{{Cite web |url=http://minerals.usgs.gov/minerals/pubs/commodity/rhenium/mcs-2008-rheni.pdf |title=''USGS 2008, Rhenium'' |access-date=2008-09-09 |archive-date=2010-07-17 |archive-url=https://web.archive.org/web/20100717130051/http://minerals.usgs.gov/minerals/pubs/commodity/rhenium/mcs-2008-rheni.pdf |url-status=dead }}</ref> It also produces small amounts of [[gold]] and [[silver]] from refinery [[anode slime]]s, the residue from [[Electrowinning|electro refining]] of copper.

Since at least 2004 the production levels of copper Codelco has stagnated or declined, with a significant decline from 2021 to 2023.<ref name=anuario2024/><ref name=alook>{{Cite report |title=A look at Codelco |date=2023-11-22 |url=http://www.gustavolagos.cl/uploads/1/2/4/2/12428079/una_mirada_a_codelco_g._lagos_v8_22-11-23_ingles.pdf |last=Lagos |first=Gustavo |author-link=Gustavo Lagos}}</ref> The tonnage of copper produced in 2023 was 72% of that of 2004 and the decline affects all of Codelcos mining divisions,<ref name=anuario2024>{{Cite report |title=Anuario de estadisticas del cobre y otros minerales |year=2024 |publisher=Comisión Chilena del Cobre |trans-title=Yearbook: Copper and Other Mineral Statistics: 2004 2023}}</ref> but originated from [[rock mechanics|geomechanical]] problems compromising the stability of three mines; [[El Teniente]], [[Chuquicamata]] and Ministro Hales.<ref name=alook/>