Santiago, December 31, 2025 - Codelco successfully secured US$600 million in climate financing from The Hongkong and Shanghai Banking Corporation Limited (HSBC) and Banco Santander, guaranteed by the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group, for the complete decarbonization of its energy matrix.

This new operation adds to the first financing of this type that the company obtained in 2024 for US$ 532 million, granted by Crédit Agricole CBI and also guaranteed by MIGA, which seeks to consolidate an innovative and diversified structure that reinforces the Corporation's commitment to a more sustainable, resilient mining aligned with the highest international environmental standards.

The proceeds from this second transaction will allow Codelco to continue financing its transition to a 100% renewable energy mix by 2030, which includes renewing power purchase agreements with renewable energy sources. This plan has been implemented progressively since 2018, with significant milestones such as the signing and renegotiation of power purchase agreements with Engie, Colbún, and AES Andes, as well as the awarding of new public tenders for renewable energy totaling 1.8 TWh/year, which will enable the company to reach an 85% renewable electricity mix by 2026. Additionally, the recent decarbonization of the last contract with Engie in Chuquicamata will allow Codelco to achieve the complete decarbonization of its energy contracts before 2030.

Given that Codelco accounts for approximately 9% of the country's electricity consumption, this progress represents a significant contribution to reducing greenhouse gas emissions and fulfilling Chile's climate commitments.

“The completion of this second transaction reflects Codelco’s commitment to innovation, environmental responsibility and long-term value creation for the country, as part of our purpose to be the pillar of sustainable development in Chile and the world,” said Rubén Alvarado, CEO of Codelco.

For his part, Alejandro Sanhueza, Vice President of Finance, highlighted that “this financing consolidates the use of innovative and multilateral instruments in our financial strategy, strengthens the diversification of funding sources and reduces risks, while decisively supporting our sustainability agenda.”

With this operation, Codelco consolidates its leadership in climate finance within the mining industry, and reaffirms its key role in the energy transition and the decarbonization of the global economy.

Codelco