Santiago, October 8, 2026 – Codelco's CEO, Jorge Gómez, participated this morning in the 30th Mining Supply Meeting organized by the National Mining Society (Sonami). In his presentation, he emphasized that copper mining faces a historic opportunity driven by electrification, artificial intelligence, and urban growth—trends that will continue to strengthen the demand for critical minerals in the coming decades. He also warned that producers will have to continue operating in a scenario of increasing operational complexity, with greater environmental and social demands, rising costs, and geopolitical and climate risks.

During his presentation, he noted that the disruptions experienced in global supply chains in recent years, including those caused by the pandemic, accelerated a profound reconfiguration of global supply. Among the main changes, he mentioned the shift from chains focused solely on efficiency to models that prioritize resilience, with greater supplier diversification, increased regionalization strategies, and new criteria for managing logistical and geopolitical risks.

“In this context, supply management has become a crucial tool for generating value in mining. This work allows us to ensure critical supplies for operational continuity, optimize the total cost of ownership of goods and services, promote sustainability through local purchasing, and strengthen relationships with the supplier ecosystem,” he stated.

As part of his analysis, he highlighted that purchases of goods and services represent approximately 56% of the operating cost of the global mining industry - considering materials, services, electricity and fuels - so efficient supply management has a direct impact on competitiveness and business results.

Finally, Gómez argued that, faced with rising costs, the industry must advance initiatives aimed at simplifying processes, integrating planning with contract and inventory management, and anticipating risks through the intensive use of data and artificial intelligence tools. “The criterion right now is not to buy cheaper, but to find a safer and more innovative way,” he concluded.

Gómez participated in the opening conference of the seminar, where Sonami President Jorge Riesco also spoke. Codelco's Vice President of Supply, Mauricio Acuña, also attended.

Codelco