Codelco reports production results and contribution to the Treasury in 2023

Codelco reports production results and contribution to the Treasury in 2023
Codelco reports production results and contribution to the Treasury in 2023

The president of the Board of Directors of Codelco, Máximo Pacheco, and the executive president of the state company, Rubén Alvarado, appeared before the Mining and Energy commissions of the Senate and the Chamber of Deputies to report on the company’s results in 2023 and the first quarter this year, as well as other issues related to production, structural projects and debt.

Results at the end of March

In the meeting with the senators, Rubén Alvarado reviewed the company’s management at the end of March, highlighting a production of 295 thousand tons in line with what was planned in the budget and an Ebitda of US$ 1,529 million, with an increase of 33, 7% compared to the same period in 2023, among other relevant issues.

“Despite the disruptions we have faced in our continuity of operation, our aspiration and commitment is to achieve the budgeted contribution for this year”, highlighted the executive. In addition, he mentioned that the goal for this year is to recover production and achieve a progressive increase in the following years, until reaching 1,700,000 tons by 2030.

Contribution to the Treasury and comparison with other private mining companies

Regarding the 2023 results, Máximo Pacheco highlighted Codelco’s important contribution to the Treasury. According to the president of the Board of Directors, Codelco contributed half of the amount contributed by the ten main private mining companies in the country. “I had the opportunity to review the Public Finance Report and in 2023 Codelco contributed to the Treasury half of everything contributed by the ten largest large copper mining companies in Chile”Pacheco explained.

Later, during the meeting with the House Mining and Energy Committee, Pacheco added that the US$1.4 billion contributed by Codelco in 2023 corresponded exactly to half of the US$2.8 billion contributed by these private companies.

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