Codelco’s El Teniente two-year setback deepens copper fears
Mine union sees a two-year pause at El Teniente expansion as safety concerns add to mounting pressure on global copper supply.
Codelco's El Teniente mine, the world's largest underground copper operation, faces an extended two-year development halt due to seismic risks identified in newly conducted geological studies. This decision, aimed at safeguarding workers, comes after six months of analysis that detected a previously unknown seismic phenomenon linked to the mine's greater depth.
The project, located near the Andesita and Teniente 7 areas where a fatal rockburst occurred in July 2025, is now paused amid investigations. This setback exacerbates production challenges for Codelco, which is already grappling with a 25-year low in output and a revised goal for 2030. The disruption further tightens an already strained global copper market, with physical markets showing signs of a potential supply squeeze.
Chile's copper production fell to its weakest level in nearly two decades, intensifying concerns over the already tight market conditions.
Written by urgent.news from Mining.com's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
