Codelco Faces Major Shake-Up: Five Managers, Two Chiefs, and One Superintendent Dismissed Over Production Irregularities

Original article: Golpe en Codelco: caen cinco gerentes, dos jefes y un superintendente por irregularidades en producción

A significant upheaval is currently affecting the National Copper Corporation (Codelco), as five managers, two heads, and one superintendent from the Chuquicamata, Ministro Hales, Salvador, and headquarters divisions have been dismissed due to irregularities found in production records.

The state-owned copper mining company announced that it decided to terminate the contracts of these eight executives and professionals after its board became aware of new information related to internal audits and investigations entrusted to KPMG and EY, which are “related to discrepancies in the production records and reports for the years 2024 and 2025.”

In a statement published on its website, it was noted that based on the gathered information, it decided to end the employment relationship with the general manager of the Salvador Division; the corporate manager of Mining Resources and Development at headquarters; the managers of Mining Resources and Development for the Ministro Hales, Salvador, and Chuquicamata divisions; the head of Metallurgical Valuation from the Accounting Management at headquarters; the operations superintendent for Smelting at the Salvador Division; and the head of Quality and Metallurgical Balance of the Ministro Hales Division.

Codelco emphasized that this measure is part of a broader process aimed at “correcting management deficiencies, strengthening control mechanisms, and ensuring the reliability of corporate information.”

Furthermore, it clarified that the terminations were conducted in accordance with internal regulations and current legislation, “without prejudice to any other potential responsibilities that may arise from the ongoing investigations by the relevant authorities.”

Nevertheless, the state-owned company leaves open the possibility of pursuing legal actions to protect its interests.

In the statement, the board and management reaffirmed their commitment to transparency and integrity, stating that they will continue internal investigations and external audits to clarify the facts.

Additionally, they committed to providing timely updates on the progress of the ongoing investigations related to the irregularities detected in the production records for 2024 and 2025.