Machalí, July 11, 2025.- In the heart of the El Teniente mine, in the mountain range of the O'Higgins Region, the ceremony commemorating the 54th anniversary of the Nationalization of Copper was held. This activity was led by the President of the Republic, Gabriel Boric, who was accompanied by various authorities, executives, directors, workers and union leaders of Codelco.

“I say from here, from the depths of El Teniente, that Codelco is Chilean, it is state-owned, and it will remain 100% state-owned. We will not allow our copper company to be privatized, under any circumstances, and we have a strong vision for the future, because this is a company admired around the world and at the forefront of technology,” the president said in his speech. He added that given the global demand for copper, “there is room to grow, and to do that, we have to take care of our company, invest, and think about the future.”

The ceremony at El Teniente was attended by the Minister and Undersecretary of Mining, Aurora Williams and Suina Chahuán, respectively; along with the Undersecretary of Regional Development, Francisca Paredes; the regional governor of O'Higgins, Pedro Silva, and the Presidential Delegate Fabio López; Senators Juan Luis Castro and Javier Macaya; Representative Marcela Riquelme; and the mayors of the region. Representing Codelco were the presidents of the board and executive, Máximo Pacheco and Rubén Alvarado, respectively; directors Ricardo Alvarez, Ricardo Calderón, and Nelson Cáceres; the vice presidents of Operations, Mauricio Barraza; Legal, Macarena Vargas; Projects, Julio Cuevas; and Corporate Affairs and Sustainability, Gabriel Méndez; in addition to the owner, the general manager of El Teniente, Andrés Music. The president of the Federation of Copper Supervisors (Fesuc), Enes Zepeda, and the vice president of the National Association of Copper Supervisors (Ansco), Ghassan Dayoub.

Prior to the official ceremony, held in the Talleres sector of the Andes Norte project—part of the El Teniente Project Portfolio—President Boric was welcomed by Máximo Pacheco and Rubén Alvarado. Along with other authorities, directors, and executives from the state-owned company, they toured the mine to learn about the progress of the project, one of the company's most ambitious structural developments. There, Andrés Music discussed aspects related to the geotechnical challenges of deep-sea mining, along with topics related to innovation, automation, and robotics associated with the technological and scientific growth driving new investments in the mine.

The president was invited to ride on one of the trucks operating at the mine, and later in the tour, he participated in a blast loading demonstration alongside Johana Vega, the first female blaster in Chile. In the Andes Norte civic neighborhood, and prior to the official ceremony, Boric and Pacheco spoke with students from the recently inaugurated High-Fuel Mining School and workers from various areas of the division, also participating in a discussion with women about underground mining.

Máximo Pacheco: "We are recovering production."

To kick off his speech, Máximo Pacheco began by telling the president that the Corporation's production increased 9% in the first half of the year compared to the same period in 2024, and El Teniente increased even more: 14%. "We are recovering Codelco's production and we are fulfilling our duty to Chile," he said forcefully.

He then described the historic milestone of the unanimous approval of the bill that returned sovereignty to Chile over the large-scale mining deposits: Chuquicamata, La Exótica, Salvador, Andina and El Teniente—an event that, every July 11, is also known as “National Dignity Day” or “Chilean Copper Day”—and highlighted the 72.8 million tons of copper produced in these 54 years, translated into US$158 billion in contributions to the Chilean State.

“That pride in what we do is more alive than ever. But today we are different. Because Codelco, like Chile, has changed. We are a reflection of a society that has matured, that has become more diverse, more aware, more innovative. On the tour we took this morning, President, you witnessed that transformation. We were in Andes Norte, one of the projects that will extend the life of our company for another 50 years. There, at a depth of 1,200 meters and 300 meters below the next production level, we are challenging the limits of what is possible,” he commented.

Among other changes the Corporation has undergone in recent decades, Pacheco also highlighted the incorporation of women into Codelco, who now number more than 2,800, nearly 18% of the total workforce.

"President, I want to acknowledge, before you and everyone present, that the last major transformation I will mention today is thanks to you. Thanks to your trust in Codelco's knowledge, experience, and professionalism when the State entrusted us with the development of the lithium business in the Salar de Atacama," he added. He reiterated that the agreement with SQM not only ensures the continuity of lithium production, but also allows for its rapid increase and guarantees that the State will have access, starting this year, to concrete economic benefits and valuable strategic knowledge in the production of this mineral.

President Boric highlights opportunities

After Pacheco's speech, Johana Vega, the first woman to highlight the inclusion of women in mining, spoke. "For a long time, mining was seen as a male-only space, and that idea became a silent barrier that seemed impossible to overcome," the country's first female thunderer told the audience.

She then added: “I have encountered doubts, stereotypes, physical and emotional challenges, but I have also found support, camaraderie, and a growing respect for what we represent. It is a silent revolution that is changing the culture, teams, and mentalities. I am deeply honored to be part of that change. This change has strengthened me as a professional, but, above all, as a woman and mother. Being able to tell my daughter that I am a working mother in mining, who fights for her dreams, and who doesn't settle for what she should be, is one of my greatest joys.”

Following this, one of the most emotional moments of the day occurred when President Boric remotely activated a blasting device, symbolizing the legacy of sovereignty represented by the nationalization of copper.

The president then highlighted the strategic role of Codelco and the mining industry as drivers of productive transformation and reaffirmed the state's commitment to a public, modern, inclusive, sustainable, and globally connected mining industry. "Our copper industry is world-class and is the fruit of the efforts of generations of Chileans. It is the result of a broad political consensus where, when it comes to copper, there are no differences. Externally, we all come out to defend it with national unity, because this broad political consensus is what has been able to defend the sovereignty of our resources and decide how we put those resources at the service of a more just and livable world."

"Today, as yesterday, Chile will continue to produce and sell high-quality copper to all the countries that need it," he concluded.

Codelco