Every year Codelco manages a broad portfolio of projects aimed at improving copper production conditions, including exploration and exploitation of new deposits, infrastructure improvement, incorporation of technology, progress in labour and environmental conditions, and research and studies.

During 2004, US$ 893 million were invested in 500 projects in all of Codelco´s Divisions, as part of the Development Plan of the Corporation.

Some projects:

El Teniente Development Plan

The goal of this Plan is for El Teniente Division, located 80 KM south of Santiago, to increase its production from 350 to 480 thousand metric tons. For this, projects are being carried out to broaden operations and to improve management.

See 2003 Report

Andina Expansion

The expansion project of Andina Division seeks to increase its production. This involves enlarging the open pit mine and underground mining and constructing infrastructure to process more mineral.

Codelco Norte

Projects underway during this period include optimizing concentrator plants, boosting smelter competitiveness, applying technological changes to electrolyte refining, and moving the crushing system in the Chuquicamata mine.

In the second half of 2003, we started implementation of a program to optimize concentrator plants. This project involves a set of improvements to boost the complex's overall treatment capacity to 182,000 tons of ore per day, as well as a general increase in copper (1.5%) and molybdenum (4.67%) recovery.

Total investment will reach US$76 million, of which US$55 million was spent in 2003.

The project to improve smelter competitiveness will reduce sulfur and arsenic emissions to meet current environmental standards. It will also improve the competitiveness of the smelter business in the long term through several projects, among them improvements to the flash furnace, changes to associated plants, and investment in sulfuric acid plants that will increase efficiency from 96.8% to 98.0%.

Total investment is estimated at US$127 million, with implementation scheduled for 2004.