Codelco announced that over 6,000 workers and executives from the Chuquicamata, Ministro Hales and headquarters divisions must repay US$14.3 million in bonuses due to an overstatement of copper production in 2025.
The state-owned company acknowledged that an internal audit detected 26,875 tons incorrectly reported as produced at the end of 2025. Of these, 20,000 tons corresponded to oxides at Chuquicamata and 6,875 tons to calcium arsenide at Ministro Hales. Adjusted own production stood at 1,307,570 metric tons fine, 2% below the initial figure of 1,334,445 tons.
Codelco stated that the error will require recalculation of variable incentives. The process affects 6,322 people for an average amount close to 2 million pesos per employee. The chair of the Audit, Compensation and Ethics Committee, Tamara Agnic, said the restitution must proceed gradually and in accordance with the law.
The Chilean Copper Commission (Cochilco) confirmed that in February it detected risks of deviations and sent an official letter to the company. Its executive vice president, Claudia Rodríguez, stated that the alert originated from an internal complaint, although Cochilco’s audit would have identified the issue anyway. Codelco pointed to eight individuals for the incident and filed a complaint with the Prosecutor’s Office.
