Codelco to Prioritize Profitability Over Production Growth

Published: Jul 14, 2026 11:29

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Codelco's newly appointed chairman, Bernardo Fontaine, said the Chilean state-owned copper producer will prioritize profitability over production growth as it works to improve operational performance. The company is conducting an external review of its strategy to identify efficiency gains and new opportunities. Facing approximately US$25 billion in debt and seven consecutive years of production below expectations, Codelco is seeking to restore investor confidence. Meanwhile, Jorge Gomez will officially assume the role of executive president this week to lead the company's turnaround efforts.

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