Codelco reported a sharp rise in first-quarter profits driven by higher copper prices, despite a drop in its own production.
The Chilean state miner recorded a 288% jump in pre-tax earnings to US$825 million. Consolidated profit rose 402% to US$306 million, while attributable profit increased 380% to US$290 million.
Ebitda grew 59% to US$2.143 billion, mainly due to higher copper prices and byproducts such as molybdenum. Contributions to the treasury reached US$430 million, up 94% from the first quarter of 2025.
Own copper production fell 8.1% to 272,000 tons. Executive president Rubén Alvarado said the results reflect a demanding quarter and that the focus remains on operational continuity and cost control.
