Codelco’s Chairman of the Board, Máximo Pacheco, addressed the Global Metals, Mining and Steel Conference in Barcelona, organized by Bank of America. He discussed the company’s strategic development plans to ensure operations for the next fifty years through structural projects and partnerships in copper and lithium sectors.
Pacheco shared key performance indicators from Codelco’s 54-year history, highlighting contributions of US$158 billion to the Treasury and investments totaling US$105 billion. He described ongoing projects like Chuquicamata Underground and Traspaso Andina as crucial for mine longevity.
The conference also featured recent partnerships with Rio Tinto and BHP. With Rio Tinto, Codelco is developing a mining district in Atacama to maximize value while minimizing environmental impact. The alliance with BHP focuses on exploring the Anillo project in Antofagasta Region.
Additionally, Pacheco signed a Letter of Intent with I-Pulse Inc., exploring High Power Pulsed technologies for mining improvements. “This alliance demonstrates our commitment to staying at the forefront of technological advancements,” he stated.
Pacheco discussed other partnerships, including a joint development plan for the Andina-Los Bronces district and Teck’s stake in Quebrada Blanca. In lithium ventures, agreements with SQM are progressing, with regulatory approvals expected soon.
In Maricunga salt flat projects, partner selection is underway with announcements anticipated in the second quarter. For Pedernales, environmental studies are advancing as part of seeking a strategic partner.
Pacheco held bilateral meetings with industry leaders like BHP and Anglo American to highlight Codelco’s role as a partner. He also attended an International Council on Mining and Metals meeting focused on sustainability strategies.
