Chile · Mining
Sunday, May 24, 2026 — 05:00 BRT — By Sofia Gabriela Martinez
Key Facts
—The 27,000-ton overstatement: An internal Codelco audit detected a 26,875-ton overstatement in the Codelco copper output reported for fiscal year 2025, decomposed as approximately 20,000 tons from Chuquicamata oxide volumes and approximately 6,875 tons from Ministro Hales metallurgical-dust volumes; the corrected production figure for 2025 falls from 1,334,445 tons to 1,307,570 tons, a 2 percent reduction.
—The $14.3M bonus recall: Codelco will demand the return of approximately $14.3 million in performance bonuses paid in 2025 from approximately 6,300 workers and executives at Chuquicamata, Ministro Hales and the Santiago corporate headquarters, with average per-worker discounts approaching 2 million Chilean pesos (about $2,150 at the current 930 pesos per United States dollar exchange rate).
