Codelco investigates production and inventory accounting discrepancies

Codelco is investigating preliminary findings of potential production accounting duplications and inventory discrepancies. The inconsistencies, identified in records for 2024 and 2025, suggest that the same material may have been registered as production by more than one division, potentially resulting in an artificial increase in reported figures for the Ministro Hales and Salvador divisions.

In response, Codelco’s board has handed the new information over to the Public Prosecutor's Office and commissioned EY to conduct an independent external audit. This audit aims to determine the magnitude of the errors, establish responsibilities, and assess any economic effects on the corporation's consolidated figures.

Executive President Jorge Gómez stated that the administration intends to investigate all irregularities exhaustively, apply necessary sanctions, and seek recovery of any potential patrimonial damages. Board Chairman Bernardo Fontaine emphasized that these reviews are essential to the company's strategy of probity and operational excellence.