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.

Chile's Ministry of Health has officially authorized the use of copper slag as artificial aggregate in construction, such as for road surfaces. Published into law on February 12, 2026, Supreme Decree 46 aims to transform a significant mining waste product into a valuable resource. Industry group Consejo Minero stated the regulation promotes the circular economy by turning a historical liability into an input for infrastructure. Mining companies Anglo American and Codelco supported the effort through pilot projects demonstrating the material's safe application in paving and public spaces.

[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.

Codelco expected the production in Q1 this year to be slightly higher than the same period in 2024, maintaining the production guidance even after the nationwide power outage in Chile in February affected the output.

【Chile's Codelco Shifts More Spot Copper Sales to the US】On Friday, March 28, Ruben Alvarado, CEO of Codelco, the world's largest copper producer, stated that the company had already shifted some spot sales to the US.

According to SMM, Ruben Alvarado, CEO of Codelco, the world's largest copper producer, stated that the company has already shifted some spot sales to the US. Alvarado also mentioned that he sees no reason for copper to be subject to sanctions or tariffs, and expects the long-term fundamentals of copper demand to remain strong despite short-term fluctuations. "In 2024, our production successfully emerged from the trough," the company stated in its performance report, adding that the company has reduced costs and addressed some long-standing issues at key plants. The company also indicated that it expects the Andesita and Andesnorth projects to commence production this year.

According to SMM, Codelco announced on its website that it and Rio Tinto have entered into a new cooperation agreement aimed at accelerating the potential development of the mining areas surrounding Nuevo Cobre in the Atacama region of Chile. Nuevo Cobre is a joint venture between Rio Tinto (57.74%) and Codelco (42.26%), established in 2023, with the objective of exploring and developing mineral resources located 10 kilometers southeast of the Potrerillos smelter. San Antonio, a mining company under Codelco, is adjacent to Nuevo Cobre. The geological potential of the area and the proximity of the two projects provide opportunities for establishing a mining district. Through this agreement, both parties will collaborate to assess opportunities, identify synergies, and mitigate risks.

On June 11 (Wednesday), Alejandro Sanhueza, the Chief Financial Officer of Codelco, the world's largest copper producer based in Chile, stated that the company would focus more on public-private partnerships (PPPs) to improve its financial position and enhance its ability to develop new projects, all aimed at increasing production. During the energy transition, global demand for copper and lithium has been growing, leading to a surge in demand. Codelco has been struggling to increase its production after hitting a 25-year low in 2023. The decline in production is partly due to falling ore grades and delays in key mine transformation projects. His remarks represent the strongest indication yet that the state-owned enterprise will focus on seeking support from the private sector to boost growth. Sanhueza said that PPPs would serve as "pillars of growth" rather than being used for major overhaul projects or any existing operations, in compliance with the company's nationalization regulations, which prohibit its mines from accepting private funding. "Greenfield initiatives (new projects) are a key part of our growth strategy and an opportunity to collaborate with third parties. This will also help diversify risks," Sanhueza said. "Our exploration partnerships allow us to attract external financing and (production) capabilities, enabling us to accelerate value creation by leveraging the additional resources available to Codelco." In addition to its recent lithium joint venture, Codelco has also reached agreements with Rio Tinto and BHP to explore new potential copper mines, which sources say are promising. Codelco already has a partnership with Freeport-McMoRan at the El Abra mine and owns a one-fifth stake in Anglo American. This year, it also acquired a 10% stake in the Quebrada Blanca resource from smaller company Enami. Sanhueza said another goal is to establish joint infrastructure to facilitate the adoption of new technologies or minimize environmental impact. Earlier this year, Codelco announced an agreement to jointly operate an adjacent copper mine with Anglo American. The company said it would increase production by 120,000 mt per year over 21 years. The company is also strengthening its exploration budget, which averaged $83 million annually in 2023 and 2024 and will increase to an average of $150 million per year from 2025 to 2029. "Collaboration with third parties allows us to better utilize these resources, which complement our own projects," Sanhueza said.