Chilean copper mining giant Codelco has announced a reduction in its 2025 production guidance following an accident at its El Teniente copper mine that decreased the facility’s output by 33,000 tonnes (t), reported Reuters, citing the company’s CEO Ruben Alvarado.
El Teniente is now expected to produce 316,000t this year. The output decline translates to a $340m loss, slightly above the $300m Codelco estimated last week.
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On 31 July, an accident at El Teniente resulted in six fatalities near the new Andesita section of the mine’s extensive underground tunnel network. The incident necessitated a temporary cessation of mining operations.
Chairman Maximo Pacheco, in conversation with Reuters, indicated that the decision to reopen Andesita would only be made after the completion of an internal investigation.
Earlier this month, Chile’s Labour Directorate authorised the partial and gradual resumption of underground operations at the El Teniente mine.
Pacheco also mentioned that updated total copper production guidance would be released alongside the company’s financial results for the first half of the year, which were delayed from 1 August due to the accident.
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By GlobalDataDespite the setback, Codelco maintains its long-term objective of achieving annual copper production of 1.7 million tonnes (mt) by 2030.
In March, the company had set a 2025 production target of between 1.37mt and 1.4mt, slightly higher than the previous year’s output.
In a recent report, Codelco detailed progress on the Safe and Progressive Restart of Operations Plan at the El Teniente Division and ongoing support for the families of the deceased workers.
The company reported that nearly 17,970 employees and partners have engaged in reflection, support and training sessions, with continued assistance provided to the families affected.
Operational updates from the mining company revealed that several sectors within the mine are active, including Diablo Regimiento, Esmeralda, Pacífico Superior, Panel Esmeralda, Panel Reno and Pilar Norte.
