Codelco Fires Executives After Audit Finds Issues in Copper Output Reporting

Published: May 22, 2026 09:04
On May 21, Chilean state-owned copper giant Codelco announced the dismissal of several executives and disciplinary actions against senior management following an internal audit. The investigation found that unprocessed ore from the Chuquicamata and Ministro Hales divisions had been incorrectly classified as finished copper production in the company’s 2025 reporting. Although Codelco said its financial statements do not require revision, investor concerns over governance transparency and production credibility have intensified.

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