Mining industry sources indicate that Rubén Alvarado's days as executive president of Codelco are numbered. A replacement would be announced in the coming weeks.
More than ten mining executives, former directors and experts agree that Alvarado, 66, will leave the post within a period not exceeding one month. The executive took office in September 2023 after the departure of André Sougarret.
Professor Gustavo Lagos noted that Alvarado is weakened by the El Teniente accident of July 2025, which left six workers dead, and by transparency incidents in December 2025. “Someone has to take responsibility,” he added.
The new board chairman, Bernardo Fontaine, would have advanced in the search for a successor with a mining profile, around 60 years old and knowledge of Codelco. The change aims to send signals of renewal after questions about the company's credibility.
