Codelco explores public-private partnerships to increase funding and production

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Industry News

Release time：2025-06-13

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This method will accelerate value creation through additional resources.

It has been reported that Codelco, Chile's national copper company, will strengthen its financial position and project development capabilities by focusing on Public-Private Partnerships (PPPs). According to Reuters, citing Codelco's CFO Alejandro Sanhueza, this move aims to address production challenges, with output currently at its lowest level in 25 years.

Sanhueza emphasized that these partnerships will be a "growth pillar" for the company, accelerating value creation through additional resources. PPPs are seen as a key strategy for Codelco to diversify risk and attract external financing. Sanhueza stated: "Our exploration partnerships allow us to attract external financing and capacity, enabling us to leverage additional resources outside of Codelco to accelerate value creation."

Codelco's collaborations with Rio Tinto and BHP in exploring new copper mines are part of a broader strategy to expand its production capacity. The company also holds significant stakes in mines such as El Abra and Anglo American Sur, and recently increased its stake in the Quebrada Blanca deposit. Sanhueza outlined further partnership goals, including building joint infrastructure, accessing new technologies, and minimizing environmental impact. A collaboration with Anglo American is expected to significantly boost production, with an agreement anticipated in September. In addition to partnerships, the company is also increasing its exploration budget.

Sanhueza revealed that the budget for 2023 and 2024 has been increased to an average of $83 million (77.29 million pesos) annually, with projections of growth to $150 million annually between 2025 and 2029. "Codelco has abundant mineral resources, which is an advantage in the industry. Collaboration with third parties allows us to better utilize these resources, complementing our own projects." Sanhueza added. Beyond these initiatives, Codelco has also established a strategic partnership with I-Pulse to explore innovative mining solutions, such as pulsed power for rock fragmentation and precision drilling. This collaboration aims to develop sustainable solutions for the challenges facing the mining industry.

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Codelco explores public-private partnerships to increase funding and production

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