Codelco Fires Executive After Audit Found 26,875 Tons of Copper Output Overstated
Updated
Updated · Bloomberg · May 21
Codelco Fires Executive After Audit Found 26,875 Tons of Copper Output Overstated
1 articles · Updated · Bloomberg · May 21
Codelco dismissed one executive and reprimanded several others after an internal audit found 26,875 tons of 2025 copper output had been overstated.
The audit said material needing further processing was wrongly booked as finished product instead of work-in-process, inflating reported production by about 2%.
Chuquicamata accounted for 20,000 tons of the misclassification, while Ministro Hales accounted for 6,875 tons, according to the company statement issued late Wednesday.
Is Codelco's 27,000-ton 'error' a sign of a much deeper operational collapse at the world's top copper producer?
With Codelco deemed 'out of control,' can Chile's new government successfully reform the state-owned mining behemoth?
Can artificial intelligence save Chile's copper giant from its own costly data and control failures?