Chile taps new chair for leading copper producer Codelco
The new board will investigate production issues after a preliminary audit questioned nearly 20,000 metric tons in a 2025 report, officials said.
- On Thursday, President Jose Antonio Kast's administration tapped Bernardo Fontaine to replace Maximo Pacheco as chairman of Codelco, the world's largest copper producer, amid government criticism of the firm's debt, budget overruns, and production challenges.
- Codelco has struggled to reach its 1.7 million ton annual output target, prompting the administration to cite production hurdles alongside concerns regarding the company's financial management and budget overruns.
- Chilean newspaper Diario Financiero reported this week that nearly 20,000 metric tons of copper were improperly included in a 2025 production report, and Codelco confirmed an internal audit of its Chuquicamata division is underway.
- Mining Minister Daniel Mas announced that new board members will receive a "special mandate" to conduct an external audit, stating, "We will launch an investigation into the case."
- Fontaine's appointment takes effect on May 26 as Pacheco completes his four-year term, while the government also named Luz Granier and Alejandro Canut to replace board members Josefina Montenegro and Alejandra Wood.
13 Articles
13 Articles
Santiago de Chile, 14 May (EFE).- The Government of Chile named the new directorate of the state of Codelco, the world's largest cuprifer, as its president, Bernardo Fontaine. Fontaine, who will replace Máximo Pacheco at the head of the mining company as of May 26, is a well-known economist of the Catholic University of Chile, business advisor and former member of the Constituent Convention who in 2022 drafted a failed proposal for a new Constit…
After being confirmed as the next president of the board of directors of Codelco, Bernardo Fontaine expressed his first words in this regard. It was in the afternoon hours that the government confirmed the decision of President José Antonio Kast to appoint the commercial engineer to lead the board of directors of the cuprifera. Fontaine will arrive at a delicate moment of the state, amid a productivity that fails to pick up and question by an au…
The biministro de Economía y Minería, Daniel Mas, representing the President of the Republic, José Antonio Kast, announced the appointment of the new members of the board of directors of Codelco, who will assume their functions from this month. The executive appointed the following professionals: Bernardo Fontaine Talavera: economist and commercial engineer, expert in public policies. He has served as director and executive in companies of diffe…
As reported by the site Here and Now, President José Antonio Kast appointed Bernardo Fontaine as the new president of the board of directors of Codelco, a decision that will be officially put into effect on May 26, when the economist assumes the replacement of Máximo Pacheco under the command of the country’s main state company. Along with the above, the government also designated Luz Granier and Alejandro Canut de Bon as new members of the boar…
Coverage Details
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
