Chile Replaces Codelco Chairman Amid Production and Debt Concerns

Published: May 18, 2026 09:10

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Chile’s government announced on May 14 that Bernardo Fontaine will become the new chairman of state-owned copper giant Codelco. The leadership change comes as the company faces scrutiny over rising debt, budget overruns, and unusual production fluctuations reported late last year. Authorities have ordered an external audit and investigation into recent output inconsistencies. As the world’s largest copper producer, governance changes at Codelco are being closely watched by global copper markets.

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