Santiago, May 19, 2026 - Codelco, the University of Chile (UCH) and the Pontifical Catholic University of Chile (PUC) signed a Memorandum of Understanding (MoU) that lays the foundation for creating the Institute of Complex Mining , an autonomous scientific-industrial entity intended to develop cutting-edge technological solutions for the most critical challenges of deep massive mining.

The institute was created in response to a structural transformation of the industry, where operations will have to face greater levels of geological, operational, social, environmental, and safety complexity. Underground mining, which currently represents just over 30% of Codelco's production, will increase substantially in the coming decades, while large deposits exploited using open-pit methods will be progressively converted to underground operations. This transition requires strengthening knowledge, innovation, and technological development capabilities in areas critical to the continuity and sustainability of production.

Based on this assessment, the new organization will operate as an autonomous entity, with its own board of directors and professional governance, guided by specific industrial needs and capable of executing highly complex projects over 10 to 20 years. The institute will focus on four strategic areas of research: advanced geosciences, geomechanical design, mechanization and automation in high-risk areas, and data and artificial intelligence applied to operations, seeking to significantly enhance both knowledge development and the creation of technology-based businesses and companies within the mining industry.

“Our purpose is to be a pillar of sustainable development in Chile and the world. What we have signed is exactly that: we are driving technological development that will allow us to address structural challenges for the mining of the future, while strengthening in Chile the knowledge that the global industry needs but does not yet possess. These are the solutions for 21st-century mining that will be developed here, by observing and engaging with the world and with Chilean talent trained in our historic universities. This initiative is a contribution that honors and transcends Codelco,” commented Máximo Pacheco, Chairman of the Board of the state-owned company.

Contributions from founding partners

The institute's base funding will be defined after its design phase is completed, and it may receive a contribution from Codelco of up to US$10 million annually for ten years, which could be complemented by public and private funds, and the eventual incorporation of other world-class industrial entities.

In addition to this, the valued contributions of UCH and PUC—in infrastructure, laboratories, hours of academics and researchers, and access to global networks—will act as scientific pillars of the institute and as platforms for the training of advanced talent at the doctoral and postgraduate levels, including industrial internship programs and the attraction of researchers with globally recognized careers.

“We are meeting to take the first steps toward establishing a future entity focused on addressing the highly complex challenges Codelco faces, accelerating innovation, and developing critical capabilities that build long-term strategic value. Putting the knowledge we produce as universities at the service of development is fundamental. The University of Chile has maintained a long-standing strategic relationship with Codelco, built on ongoing collaboration in human capital development, applied research, and technological development for the mining industry, and this is a unique opportunity to deepen this collaboration,” stated Rosa Devés, Rector of the University of Chile.

“Chile has a unique opportunity to lead the way in knowledge-based mining for the future. This means developing talent, generating cutting-edge research collaboratively, and projecting our contributions to the world,” said Juan Carlos de la Llera, Rector of the Pontifical Catholic University of Chile. “This alliance with Codelco and the University of Chile is precisely aimed in that direction. Through the creation of the Institute of Complex Mining, we aspire to contribute to our goal of being a university at the service of Chile, creating knowledge connected to the country’s realities and major challenges,” he added.

The MoU sets 2026 as the deadline for completing the design and definition of essential elements for the creation of the institute. During this period, teams from the three institutions will work on benchmarking international models of scientific-industrial institutes, designing the core R&D lines, defining the legal structure and bylaws, the ten-year funding model, the organizational structure, and identifying potential strategic partners.

Codelco