CODELCO Announced Short Term Optimization Strategy

SEATTLE (Scrap Monster): CODELCO- the leading Chilean state-owned copper mining company announced new strategy aimed at optimizing production plans and investment projects for the next five year period from 2023 to 2027. This was outlined in an internal note sent by Andre Sougarret, Executive President, Codelco to the company’s vice presidents and general managers.

The note highlights the need to focus on completing the investments in its structural projects, which it believes will serve as the backbone for the next five decades. Alongside, it seeks increased investments in renovation and maintenance of infrastructure; mining developments and environmental and community commitments.

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The vice presidents and general managers of various divisions of the company are required to present a complete action plan of structural measures in connection with future production and investment plans. The internal note also calls for immediate implementation of an austerity plan, which seeks to boost the company performance without affecting the labor safety standards.

The challenging moment experienced now makes it necessary for all who are part of Codelco to align themselves with the common purpose of boosting the performance of structural projects, so as to deliver better levels of efficiency, said Sougarret.