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Codelco Lowers 2026 Guidance, Confirms 42,100 Tons Output Error

Summary by Reuters
Chile's state copper miner Codelco lowered its production guidance for this year on ‌Thursday and confirmed that it had overstated copper output by 42,100 metric tons in 2024 and 2025.

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Today Codelco completed its extraordinary shareholders meeting before the latest advances in internal audits, in addition to the investigations...

·Concepción, Chile
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“We are facing serious events,” said the president of the board, Bernardo Fontaine. The company reported an artificial preliminary production of 24 thousand tons in 2024 and 18,1 thousand tons in 2025.

·Las Condes, Chile
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The Minister of Finance, Jorge Quiroz, described as “a deception at the highest level” of the previous administration of Codelco the alteration of the figures of copper production of the state. After participating in the extraordinary meeting of shareholders, he questioned that the irregularities were warned by the directory of the time, but rejected by [...] The post Minister Quiroz by figures of Codelco: “It was a deception at the highest leve…

Santiago de Chile, Nov 5 (Prensa Latina) La Corporación Nacional del Cobre (Codelco), de Chile, reported more than 42 thousand tons of non-existent production between 2024 and 2025, its directors reported today during an extraordinary meeting of shareholders.The post Chilean company Codelco falsed copper production data first appeared on Noticias Prensa Latina.

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Cooperativa broke the news on Thursday, November 5, 2026.
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