Segment

Investments & Projects

We invest more than any other company in Chile. In fact, in 2016 we allocated USD 2.738 billion to our Capex portfolio. For the 2016-2020 period, we have developed a USD18 billion investment plan.

Our structural projects are currently in different development and consolidation stages. They will be implemented as part of the transformation needed to ensure our company’s future in order to offset the effect caused by the declining ore grades at our current operations, improve productivity and add new production to maintain our leadership position in the global copper industry.

Business & Innovation

We laid the foundations to position innovation as our core business process, creating Codelco Tech and applying an open innovation management system to confront challenges and play a leading role in new mining.

In 2016 we not only focused on innovation, but also on strategic management to develop third-party business, creating value for the company.

Exploration

The search for new deposits in Chile and overseas is a permanent strategic activity that will enable us to ensure the future of our business.

In mining, exploration activities comprise a series of stages that range from basic studies through to advanced projects. Each sequence of the process provides data, information and knowledge about the mineralized resources discovered which, depending on their scale and quality, will form part of the company’s mining base and may in future become new Codelco mines.

Mineral resources and reserves

Our mining base is the great strength that underpins the company’s future, with mega-deposits that have an expected life of over 80 years.

In reporting its mining asset inventory, Codelco differentiates between mineral resources and reserves in accordance with current regulation.

In addition, in reporting geological resources, it indicates the potential of deposits identified to date.

Future

Investments & Projects

We invest more than any other company in Chile. In fact, in 2016 we allocated USD 2.738 billion to our Capex portfolio. For the 2016-2020 period, we have developed a USD18 billion investment plan.

Business & Innovation

We laid the foundations to position innovation as our core business process, creating Codelco Tech and applying an open innovation management system to confront challenges and play a leading role in new mining.

In 2016 we not only focused on innovation, but also on strategic management to develop third-party business, creating value for the company.

Exploration

The search for new deposits in Chile and overseas is a permanent strategic activity that will enable us to ensure the future of our business.

Mineral resources and reserves

Our mining base is the great strength that underpins the company’s future, with mega-deposits that have an expected life of over 80 years.

In reporting its mining asset inventory, Codelco differentiates between mineral resources and reserves in accordance with current regulation.

In addition, in reporting geological resources, it indicates the potential of deposits identified to date.

ANNUAL
REPORT
2016

Future

Investments & Projects

We invest more than any other company in Chile. In fact, in 2016 we allocated USD 2.738 billion to our Capex portfolio. For the 2016-2020 period, we have developed a USD18 billion investment plan.

Business & Innovation

We laid the foundations to position innovation as our core business process, creating Codelco Tech and applying an open innovation management system to confront challenges and play a leading role in new mining.

In 2016 we not only focused on innovation, but also on strategic management to develop third-party business, creating value for the company.

Exploration

The search for new deposits in Chile and overseas is a permanent strategic activity that will enable us to ensure the future of our business.

Mineral resources and reserves

Our mining base is the great strength that underpins the company’s future, with mega-deposits that have an expected life of over 80 years.

In reporting its mining asset inventory, Codelco differentiates between mineral resources and reserves in accordance with current regulation.In addition, in reporting geological resources, it indicates the potential of deposits identified to date.

ANNUALREPORT2016

In reporting its mining asset inventory, Codelco differentiates between mineral resources and reserves in accordance with current regulation.

In addition, in reporting geological resources, it indicates the potential of deposits identified to date.

ANNUAL
REPORT
2016