The Chilean government's decision to let Codelco retain its profits aims to strengthen its equity and liquidity and reduce the need for additional borrowing to finance investment projects amid rising costs and production problems. File Photo by Elvis Gonzalez
SANTIAGO, Chile, Aug. 12 (UPI) -- President José Antonio Kast's government has authorized state-owned mining company Codelco to retain 100% of its 2025 profits for the first time in more than 50 years. That totals $2.422 billion.
The measure, announced this week, is intended to ease financial pressure on one of the world's largest copper producers, which is grappling with heavy debt and declining operating performance.
The Chilean government's decision seeks to strengthen Codelco's equity and liquidity and reduce the need for additional borrowing to finance investment projects amid rising costs and production problems.
Codelco holds about 6% of the world's copper reserves and produced 1.334 million metric tons of copper in 2025.
