Freeport-McMoRan (NYSE: FCX) has begun the environmental permitting process for a $7.5 billion expansion of its majority owned El Abra copper mine in ChileThe project, owned 51% by Freeport and 49% by state-owned Codelco, is the largest mining investment submitted to Chile’s Environmental Assessment Service (SEA) since at least 1992. The plan includes a new concentrator, a desalination plant, a water pumping system, expanded mine infrastructure and continued leaching. Production is expected to begin in 2033 if regulators approve the project, Diario Financiero reported.

Chile’s state-owned copper giant Codelco has reported a sharp drop in production to start this year, leading copper industry analysts and former Codelco executives to question its reports of surging output at the end of 2025 that helped the company meet its annual production target.

Codelco has signed an agreement with Microsoft to explore the use of artificial intelligence, advanced analytics and automation in mining operations. The partnership aims to improve operational efficiency, enhance decision-making and strengthen cybersecurity systems. Analysts say digital technologies are increasingly transforming traditional mining operations.

Codelco and miner Rio Tinto signed a memorandum of understanding on Thursday to explore development and investment opportunities.

[CFO of Codelco: The company will focus on public-private partnerships to increase copper and lithium production] The CFO of Codelco stated that the company will focus on public-private partnerships to increase copper and lithium production. Agreements with private companies will bring additional financing and resources to diversify risks. The partnerships aim to expand production sources but will not include current mining projects.

[Codelco: Codelco to Focus on Public-Private Partnerships to Boost Copper and Lithium Production] Recently, the CFO of Codelco stated that the company will focus on public-private partnerships to increase copper and lithium production. Agreements with private companies will bring additional financing and resources to diversify risks. The partnerships aim to expand production sources but will not include current mining projects.