Chile lets Codelco keep $2.42 billion of 2025 profits for reinvestment

Chile authorized Codelco on August 10, 2026 to keep US$2.422 billion of its 2025 profits instead of paying them to the state. It is the first time Codelco has been allowed to capitalize 100% of profits since it was founded in 1976. The money is meant for reinvestment while Codelco output is under pressure.

• Chile authorized Codelco to keep US$2.422 billion of 2025 profits on August 10
• Funds retained for reinvestment rather than paid out
• Codelco output under pressure, with El Teniente down about 27% y/y