Codelco, Chile's state-owned mining company and the world’s largest copper producer, is facing mounting scrutiny after discovering an overestimation in production figures. File Photo by Elvis Gonzalez/EPA
May 26 (UPI) -- Codelco, Chile's state-owned mining company and the world's largest copper producer, is facing mounting scrutiny after discovering an overestimation of more than 27,000 metric tons in its production figures, triggering executive departures, a criminal complaint and tensions with labor unions.
Following an internal audit, Codelco acknowledged that its previously reported 2025 production figure of 1,334,445 metric tons of fine copper was inaccurate because it included 26,875 metric tons produced at the beginning of 2026. After the adjustment, the company's reported output fell by 2%.
As a result, more than 6,000 Codelco workers may be required to return part of the production bonuses they received after meeting company targets. The bonuses are estimated at more than $14 million.
The measure sparked opposition from labor unions, which warned they could stage protests if the repayment plan moves forward.
