Chile Lets State Copper Miner Keep Profits for First Time in 50 Years
The move replaces a 30% reinvestment benchmark and has sparked protests and criticism over how much of the profit reflects Boric-era decisions.
- On August 10, 2026, in Valparaíso, Mining Minister Daniel Mas announced that Chile authorized state miner Codelco to retain and reinvest 100% of its 2025 profits, totaling about US$2.42 billion.
- This decision replaces the previous benchmark of 30% for 2024 profits, marking the first time in over 50 years that Codelco retains all earnings for reinvestment rather than remitting a portion to the state treasury.
- Former Economy Minister Nicolás Grau argued that roughly US$2.1 billion of the total came from a Novandino value uplift, leaving about US$300 million underlying, while attributing over 85% of the amount to decisions under President Boric.
- Workers from Chuquicamata marched in Santiago on August 10, 2026, at Codelco's corporate offices, reflecting long-standing anxieties regarding structural changes and potential privatization of the state-owned firm.
- The retention of 100% of 2025 profits could widen the fiscal gap, as reports cite varying debt figures for Codelco ranging from roughly US$24 billion to US$25.1 billion.
24 Articles
24 Articles
Chile Authorizes Codelco to Reinvest 100% of 2025 Profits, Sparking Political Dispute
Chile authorized Codelco to retain all 2025 profits, about US$2.42 billion, but critics dispute the 'historic' label. The post Chile Authorizes Codelco to Reinvest 100% of 2025 Profits, Sparking Political Dispute appeared first on The Rio Times.
The unprecedented measure will inject $2,422 million into the state’s cupriera to strengthen its financial situation. “The state is going to have to make an effort this time,” Quiroz warns.
Chile will reinvest all the profits of 2025 from the state copper mining company Codelco in its own company, said the minister of Minas, Daniel Mas, on Monday (10), increasing the resources for a company that deals with a heavy debt burden and the costly task of reforming old mines. Codelco, one of the largest copper producers in the world, transfers its profits to the state, which then decides how much capital will be returned to the company. A…
The biministro de Economía y Minería, Daniel Mas, confirmed that 100% of the profits of Codelco in 2025 could be capitalized by the cuprifera. That is, those profits earned in the previous year . The statement was given via telematics by the authority, in the context of an activity for the Day of the Mining ... Continue reading ""A historic milestone": Government authorizes that Codelco capitalize 100% of its profits of 2025" The post "A histori…
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