According to SMM, Codelco announced on its website that at the Bank of America Merrill Lynch Global Metals, Mining & Steel Conference, BHP and Codelco had reached an exploration agreement targeting the state-owned company's assets in the Antofagasta region. This agreement is subject to the requirements stipulated in Law No. 19,137, which outlines the conditions for Codelco to collaborate with third parties in developing mining projects that are currently not in operation or are not part of the mining projects that the company has decided to allocate for replacement or expansion plans through direct development. In 2022, Codelco offered a portfolio of 34 exploration assets to interested companies to assess the possibility of collaborative development for projects that do not meet the company's criteria for independent development.