Rancagua, September 3, 2026 - One month after the announcement of the suspension of the Andes Norte project of the El Teniente Division, Codelco executives held a meeting with authorities and parliamentarians of the O'Higgins Region, along with representatives of companies and contractor workers, to present a mitigation plan that seeks to reduce the effects of this measure on employment.

As part of this plan, the company reported that it successfully generated reintegration options for 1,782 people, equivalent to 72% of its target workforce of 2,460 employees. The total number of job losses was originally estimated at 3,118, but that figure included employees whose contracts were scheduled to expire between July and August, as well as voluntary resignations.

Thus, Codelco highlighted that the 1,782 workers will gradually be integrated from September 7th into tasks related to their areas of experience and knowledge in initiatives such as the Diamante Project, recovery of productive areas and cross-cutting services of the Vice Presidency of Projects.

Regarding the 678 employees (28% of the 2,460) who have not yet been reassigned, they will remain on furlough, but their salaries will continue to be paid in the short term. Meanwhile, the review of initiatives that could lead to further reassignments continues.

"From day one, we have emphasized safeguarding the safety of our people as the primary objective of this decision. However, we also focused on finding concrete alternatives to protect jobs. The results achieved allow us to assure that a significant portion of the affected workers will have the option of continued employment in activities where their experience and knowledge contribute value to the development of the division and the Corporation," highlighted Jorge Gómez, CEO of Codelco.

Ongoing communication

In addition to Jorge Gómez, those participating in the meeting included the Vice Presidents of Operations for the Central-South Region, Francisco Carvajal; of Supply, Mauricio Acuña; and of Corporate Affairs and Sustainability, Pablo Villarino, along with the General Manager of El Teniente, Julio Diaz. From the public sector, attendees included the Undersecretary of Mining, Álvaro González; the Regional Governor of O'Higgins, Pablo Silva; the Presidential Delegate, Susana Pinto; the Regional Secretaries of Mining, Carla Ortíz, and of Labor, Carmen Gloria Manríquez; Senators Javier Macaya and Juan Luis Castro; Representatives Fernando Ugarte, Natalia Romero, and Valentina Cáceres; and the Mayor of Machalí, Juan Abud.

Codelco representatives recalled that the suspension of Andes Norte was solely due to preventative safety reasons, based on new technical information related to the deep seismicity phenomenon under study, and that from the beginning of the process, work was carried out in parallel on alternatives aimed at reducing its impact on employment.

They also reiterated that the suspension is limited exclusively to the development and construction activities of Andes Norte and does not compromise the operational continuity of the rest of the El Teniente Division.

The authorities valued the opportunity for dialogue and updates, while Codelco reaffirmed its commitment to maintain permanent communication with the various actors in the region regarding the progress of the measures implemented and the evolution of the technical studies associated with Andes Norte.

Codelco